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The Athleisure Market size is estimated to grow by USD 176.16 billion at a CAGR of 7.15% between 2022 and 2027. The growth of the market depends on several factors, including the growing prominence of online shopping, the increasing adoption of fitness initiatives by corporates, and the rise and evolution of the athleisure movement. The online distribution channel is experiencing a faster growth rate than the offline distribution channel. Leading the charge in this space are two major players, Amazon.com and eBay Inc. E-commerce platforms offer a wide range of athleisure products from various brands, and the trend of online retailing is expected to continue to gain traction, particularly in developing countries. This shift is already being observed in countries such as the US, the UK, Japan, and India, where athleisure wear manufacturers such as Nike and Adidas are increasing their focus on online distribution and sales. The increasing penetration of the Internet is fueling strong e-commerce activities across regions, and e-commerce platforms are also able to offer personalized shopping assistance and suggestions for athleisure products to customers.
This athleisure market research report extensively covers market segmentation 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). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The market growth is being significantly driven by the increasing prominence of online shopping. The trend of online retailing, particularly in developing countries, is expected to significantly boost the sales of athleisure through this channel during the forecast period. This is more evident in countries such as the US, the UK, Japan, and India, where athleisure wear manufacturers such as Nike and Adidas are increasingly shifting to online distribution and sale of their products. Strong e-commerce activities across regions are being fueled by the growing penetration of the internet. Additionally, e-commerce platforms provide personalized shopping assistance and athleisure recommendations to customers.
Moreover, the online distribution channel enables vendors to offer substantial discounts directly to customers as it eliminates the costs associated with operating physical stores, employing sales personnel, and physical merchandising of athleisure. As a result, the online segment is expected to witness a year-over-year growth rate during the forecast period.
One of the major trends in the athleisure market industry is the increasing popularity of denim athleisure. This trend has prompted several denim manufacturers to incorporate luxury athleisure designs into their products. For example, Levi Strauss has recently launched a new line of stretch jeans and set up a research lab to explore new ways to produce stretchy pants. Many other luxury fitness wear denim manufacturers have followed suit, leading to numerous collaborations and partnerships.
To produce stretchy versions of traditional jeans, many manufacturers have adopted the concept of using elastane and lycra materials. Companies such as AEO Management offer jeans with different levels of a stretch according to the customer's preferences. Thus, the growing popularity of denim athleisure is expected to drive the growth of the market during the forecast period.
Increasing competition from the unorganized sector is the major challenge impeding market growth. The increased presence of local and unorganized vendors hampers the growth of the market. Local and unorganized vendors have become popular because of their competitive pricing. Cost-effective products offered by local and unorganized vendors have hampered revenue generated by major vendors. Local vendors are also occupying the shelf area of athleisure brands in supermarkets. Owing to the lack of brand loyalty, customers switch from one brand to another.
The market is highly fragmented because of the presence of several local, regional, and international vendors. This characteristic may impede the market growth. Low entry barriers for prospective players enhance the bargaining power of buyers. Market vendors range from multinational companies that offer an array of products on a global scale to small and medium-sized unorganized entities that focus on a single product line. Currently, intense price competition from local and unorganized vendors is a major challenge that will hinder the growth of the market during the forecast period.
The athleisure market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Athleisure Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Nike Inc. - The company offers athleisure products such as pants, shorts, t-shirts as its key offering. This segment offers Nike Pro tops and t-shirts, hoodies and pullovers, jackets and vests, pants and tights, shorts, socks, accessories, and equipment for football, basketball, golf, skateboarding, and tennis. Additionally, through its footwear segment, it offers footwear for football, basketball, running, swimming, tennis, driving, cricket, and other sports.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The athleisure market share growth of the mass athleisure segment will be significant during the forecast period. The rising demand for athleisure clothing among millennials across the world is one of the major factors driving the growth of this segment. Footwear and bottom wear are the major purchase categories in the mass athleisure segment, with demand mainly coming from female buyers. According to a recent trend, an increasing number of consumers are switching to comfortable and presentable clothing for work from home, grocery shopping, and social media appearances. These products also match consumer's fashion standards with comfort.
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The mass athleisure segment was valued at USD 254.46 billion in 2017 and continue to grow until 2021. Over the last decade, specialty stores have witnessed steady growth. These stores help increase sales by allowing vendors to offer a wide assortment of mass athleisure products to customers. Vendors rely on such retail stores and plan their budgets for marketing, advertising, and promotional activities to enhance their product and brand visibility among customers. The abovementioned factors may propel the growth of the mass athleisure segment during the forecast period.
The premium athleisure market segment is poised to experience substantial growth during the forecast period. The strong growth of this segment is driven by increasing consumer purchasing power and changing preferences, which have been influenced by growing partnerships between premium athleisure brands and celebrities. The adoption of premium athleisure wear among young people is increasing significantly. The fashion industry has become more liberal, thanks to street style stars, fashion bloggers, and social media, particularly applications like Instagram, Twitter, and Snapchat, which have a strong influence on consumers' adoption of premium athleisure wear. Additionally, the growth in adoption rates is being accelerated by continuous innovations in athleisure clothing designs and materials. As the number of users grows, vendors like Carbon38, Lululemon Athletica, and other luxury brands are entering the global athleisure market.
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North America is estimated to contribute 31% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The athleisure market in North America is expected to grow at a healthy rate during the forecast period. Denim apparel has traditionally dominated the market in countries such as the US, Canada, and Mexico. However, the rising number of celebrity endorsements for athleisure wear is influencing millennials and the GenX population in the region to adopt such clothing. Furthermore, increasing initiatives by corporate houses in opening gymnasiums and fitness centers within office premises are encouraging employees to choose athleisure wear to cater to both their casual and athletic wear requirements. These developments are driving the growth of the market in the region.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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Athleisure Market Scope |
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Report Coverage |
Details |
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Page number |
160 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 7.15% |
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Market growth 2023-2027 |
USD 176.16 billion |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
6.15 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Performing market contribution |
North America at 31% |
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Key countries |
US, Japan, China, UK, and Germany |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
adidas AG, ALALA, ALO LLC, American Eagle Outfitters Inc, Carbon38 Inc., EYSOM LLC, Gap Inc., H & M Hennes & Mauritz GBC AB, lululemon athletica Inc., Michi Design Inc., New Balance Athletics Inc., Nike Inc., Outdoor Voices Inc., P.E Nation International, Rhone Apparel Inc, Sweaty Betty Ltd., Columbia Sportswear Co, PUMA SE, Under Armour Inc., and VF Corp. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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