LONDON--(BUSINESS WIRE)--Technavio announces the release of its latest report on the athleisure market. The market is segmented by product (mass athleisure and premium athleisure) and geography (APAC, Europe, MEA, North America, and South America). The report offers an in-depth analysis of recent developments, changes in market regulations, product approvals, product launches, and market behavior across various segments.
Athleisure Market: Key Findings
- Athleisure market value to grow by USD 80.74 billion at over 4% CAGR during 2020-2024
- 92% of market growth to originate from North America during the forecast period
- Based on the product, the mass athleisure segment will offer maximum opportunities for vendors during the forecast period
- The athleisure market is expected to have a negative impact due to the spread of COVID-19
Athleisure Market: Growth Drivers
The growing prominence of online shopping is one of the prime factors driving the growth of the market. The growing trend of online retailing, especially in developing countries is increasing the sales of athleisure. This is encouraging vendors operating in the market to increase their presence and sales through online retail platforms. This is allowing consumers to compare and collect information about athleisure products offered by various brands through ratings and reviews and make better purchase decisions. In addition, online distribution channels eliminate the costs associated with the operation of physical stores, employment of sales personnel, and physical merchandising of athleisure for vendors. Many such factors are positively influencing the growth of the global athleisure market.
“Increasing adoption of fitness initiatives by corporates and the rise and evolution of the athleisure movement will further boost market growth during the forecast period”, says a senior analyst at Technavio.
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Athleisure Market: Major Vendors
adidas AG operates its business through segments such as Footwear, Apparel, and Hardware. The company offers affordable high-end athleisure wear such as the three-stripe motif and the Speedfactory athleisure collection designed by Stella McCartney. The Sella McCartney collection includes clothing for yoga, running, tennis, athleisure, and more. It also offers the Y-3 brand of athleisure along with other brands.
American Eagle Outfitters Inc.
American Eagle Outfitters Inc. operates its business through the Unified segment. Key products offered by the company include AERIE PLAY POCKET & CUFF LEGGING and AERIE MOVE PRINTED HIGH WAISTED LEGGING.
Columbia Sportswear Co.
Columbia Sportswear Co. operates its business through segments such as Apparel, accessories and equipment and Footwear. The company designs, develops, markets, and distributes footwear for men, women, and youth under the Columbia and SOREL brands.
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