The athleisure market is evaluated at US$288.864 million for the year 2019 and is projected to grow at a CAGR of 6.71% to reach US$455.017 million by the year 2026.
The popularity of athleisure clothing is anticipated to considerably influence ongoing fashion trends over the coming years. Athleisure wear includes yoga pants, jogger pants, shorts, sweatpants, hoodies, sneakers, etc. Athleisure is the intersecting playing field for fashion and activewear. As athleisure gains ground, activewear appears to dominate.
Prominent factors driving demand in the athleisure market include growing concerns regarding physical fitness and personal grooming among the young population. Moreover, shifting market trends towards comfortable clothes coupled with the growing need for fashion, especially at workplaces and social gatherings are integral factors driving demand in the market.
Furthermore, increasing consciousness for a healthy lifestyle is leading to the adoption of physical fitness services and activities, thereby supplementing growth in the athleisure market. Moreover, the increasing use of casual clothing in corporate workplaces is expected to further fuel demand in the athleisure market.
Furthermore, increasing investments by fitness centers in emerging economies and the increasing availability of highly advanced physical fitness services are anticipated to propel growth opportunities in the market over the forecasted period. Furthermore, the increasing adoption of athleisure clothing in the sports industry is expected to further boost demand in the market over the forecasted period.
The rise of social media coupled with increasing social media endorsements is further burgeoning demand in the athleisure market. Health and fitness influencers are gaining significant traction on social media, thereby providing a larger relevant audience for athleisure brands to market their products.
The outbreak of the novel coronavirus disease negatively impacted the athleisure market. Most brands, retailers, and manufacturers finished the year on a downward trajectory, despite a recovery in the market after an initial market downturn. The COVID-19 led to a global supply chain disruption and a sharp decline in revenues for companies operating the athleisure market. Moreover, a decline in outdoor sporting activities and gymming facilities has further impacted sales in the athleisure market.
Participation by market players
The Companies in the market are offering customized solutions to clients. Prominent activewear companies are transforming their product portfolios to suit the changing market trends of athleisure wear. Shifting market trends are forcing market players to offer innovative yet sustainable product catalogs to gain a competitive advantage.
For instance, Asics recently announced the launch of its sneakers range portfolio, the Sunrise Reborn Pack. Through its new product offering, the company aims to advance its sustainability efforts. The product is developed by converting recycled clothing into shoes.
Key Topics Covered:
1.1. Market Definition
1.2. Market Segmentation
2. Research Methodology
2.1. Research Data
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.4. Industry Value Chain Analysis
5. Athleisure Market Analysis, by End-User
6. Athleisure Market Analysis, by Distribution Channel
6.2. Offline Stores
6.3. Online Stores
7. Athleisure Market Analysis, by Geography
8. Competitive Environment and Analysis
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. Company Profiles
9.1. Under Armour, Inc.
9.2. New Balance
9.3. Artemis S.A
9.5. Columbia Sportswear Company
9.6. VF Corporation
9.7. Lululemon Athletica
9.8. Hennes & Mauritz AB
9.9. The North Face
9.10. Nike, Inc.
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