NEW YORK, March 22, 2024 /PRNewswire/ -- The Athleisure Market size is expected to grow by USD 176.16 billion between 2022 and 2027. However, the growth momentum of the market will be progressing at a CAGR of 7.15% during forecast period. North America is set to contribute 31% to global market growth. Analysts from Technavio have detailed regional trends and drivers. In North America, the athleisure market is poised for healthy growth. Traditional denim apparel dominance is shifting due to celebrity endorsements, particularly among millennials and GenX. Corporate initiatives like in-office gyms are further propelling athleisure adoption, fostering market expansion in the region. The market is segmented by Product (Mass athleisure and Premium athleisure), Distribution Channel (Online and Offline), and Geography (North America, Europe, APAC, South America, and Middle East and Africa).
The report analyses the market size and growth and provides accurate predictions on the growth of the market.
Market Report Coverage | Details |
Page number | 160 |
Base year | 2022 |
Historic period | 2017-2021 |
Forecast period | 2023-2027 |
Growth momentum & CAGR | Accelerate at a CAGR of 7.15% |
Market growth 2023-2027 | USD 176.16 billion |
Market structure | Fragmented |
YoY growth 2022-2023(%) | 6.15 |
Regional analysis | North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution | North America at 31% |
Key countries | US, Japan, China, UK, and Germany |
Key Highlights:
Market Dynamics:
The increasing prominence of online shopping is driving market growth:
The market growth is fueled by the rise of online shopping, particularly in developing nations, expected to boost athleisure sales. Brands like Nike and Adidas are shifting towards online distribution in countries like the US, UK, Japan, and India. Strong e-commerce activity, driven by internet penetration, provides personalized shopping experiences and discounts, fostering year-over-year growth in the online segment.
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Segment Overview:
The mass athleisure segment is poised for significant growth, driven by rising demand among millennials globally. Footwear and bottom wear are top categories, with increased adoption for work-from-home and casual outings. Specialty stores play a key role in sales growth. The premium segment also sees substantial growth, fueled by increasing consumer purchasing power, celebrity endorsements, and social media influence. Innovations in design and materials further drive adoption, attracting luxury brands like Carbon38 and Lululemon Athletica.
Get a glance at the market contribution of the segments
Analyst Review:
The Athleisure Market represents a dynamic fusion of fashion and fitness, offering a wide array of activewear and leisurewear options tailored to modern lifestyles. From Yoga pants, leggings, and sweatpants to joggers, hoodies, and sweatshirts, athleisure wear encompasses versatile apparel suitable for various activities and everyday wear. Key items like tank tops, sports bras, and athletic shorts provide comfort and style during workouts and leisure time.
Athletic shoes, including sneakers, training shoes, and gym wear, complement athleisure outfits, emphasizing performance and functionality. The market showcases a range of performance fabrics, moisture-wicking materials, and compression clothing, ensuring breathability, flexibility, and comfort during physical activities.
Leading brands like Nike, Adidas, Lululemon, and Under Armour dominate the athleisure landscape, offering trendy and high-quality apparel and accessories. Athleisure trends reflect the evolving preferences of Millennials, Gen Z, urban professionals, and fitness enthusiasts, driving innovation and creativity in the market.
Athleisure influencers, fitness bloggers, and yoga instructors play a crucial role in shaping athleisure aesthetics and promoting active living. Athleisure events and fashion shows celebrate the intersection of fashion and fitness, fostering a vibrant athleisure lifestyle embraced by health-conscious consumers worldwide. With diverse market segments catering to women's, men's, and children's athleisure, the industry continues to expand across online retail, brick-and-mortar stores, and specialty shops, catering to the growing demand for stylish and functional activewear.
Market Overview:
The Athleisure Market embodies a blend of fashion and fitness, offering a wide array of activewear suitable for various activities and lifestyles. From activewear to sports bras and yoga pants, athleisure wear caters to the needs of diverse demographics, including millennials, Gen Z, urban professionals, and fitness enthusiasts. Leading brands such as Nike, Adidas, and Lululemon dominate the market with their innovative designs and performance-driven fabrics. Athleisure trends reflect evolving consumer preferences, emphasizing comfort, functionality, and style. With the rise of health and wellness culture, athleisure has become more than just clothing; it represents a lifestyle choice that promotes active living and overall well-being. Athleisure sales channels span online retail, brick-and-mortar stores, and specialty shops, ensuring accessibility to consumers worldwide.
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About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
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Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
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