Athleisure Market: Regional Analysis, Key Players, and Forecast 2030
Athleisure Market Overview
The global athleisure market is projected to attain a size of approximately USD 8,33,199.16 million by the end of 2030. The report further predicts that the market will pose a healthy CAGR of over 10.33 % during the review timeframe.
Athleisure is athletic apparel, which is worn in non-athletic settings. It has become an "athletic-look" fashion trend no longer limited to training. The apparel is versatile, casual, colorful, trendy, and comfortable. The global athleisure market has experienced a major spike in growth in recent years. The high demand from millennials is driving the market's growth, increasing number of working women, growing fitness-conscious Population, and product innovation with the growth of the apparel industry. On the other hand, the growth of the athleisure market is likely to be restricted by the factors such as stiff competition among the players, the prevalence of the unorganized sector, and rapidly changing consumer trends.
Competitive Analysis
The global athleisure market has an intensely competitive landscape. With people across the globe gaining awareness regarding health and fitness, the market has witnessed growth in the number of new entrants in recent years. The players in the market are making heavy investments to launch new and trendy products to meet the growing market demand. The list of leading athleisure key market players includes Adidas AG (Germany), Nike, Inc. (US), Hennes & Mauritz AB (Sweden), lululemon Athletica (Canada), Under Armour, Inc. (the US), Puma SE (Germany), Isaora (US), Ten Thousand, Inc. (US), Eysom (US), Outdoor Voices (US), and several others.
Segment Analysis
The global athleisure market overview has been fragmented into several segments based on product type, end-user, distribution channel, and region.
Based on product type, the global market for athleisure is split into yoga pants, sports jackets, sneakers, leggings, tights, and jeggings; sports bras; shorts; and hoodies and sweatshirts.
The global athleisure market is split into unisex, women, and men based on end-user.
The athleisure market is bifurcated into non-store-based and store-based based on the distribution channel.
Regional Analysis
As per the research report by MRFR, the global athleisure market is studied across five major regions, including North America, South America, Asia-Pacific, Europe, and the Middle East and Africa.
The athleisure market in North American region led the global market in 2022 with the largest market share of over 34.89% and a market size of over USD 134.75 billion. The report predicts that the regional market will exhibit a healthy growth rate of over 9.87% during the review timeframe. The regional market's growth is attributed to the growing participation in numerous sports events, the increasing need to appear fit, and rising health consciousness. The MRFR report suggests that the region has witnessed 2.85% growth from 2019 to 2018.
The European region secured the second position in the global athleisure market size in 2022, with a market size of over USD 113.63 billion. As per the MRFR reports, the regional market will exhibit a healthy CAGR of over 10.40% during the review timeframe.
The Asia-Pacific region will likely exhibit the highest growth of over 10.95% during the forecasted era. The growth of the market is attributed to numerous factors such as the rising per capita disposable incomes, rapid urbanization in the emerging economies, growing millennial Population, and increasing consciousness among the consumers regarding fitness.
Recent Developments
• February 2021 – Nike, Inc. has announced the acquisition of a New York-based leading data integration platform startup, Datalogue. The transaction will allow Nike to carry out its consumer-led digital transformation.
• August 2021 - Levi's has announced its plans to enter the athleisure market by acquiring a leading brand in the field, Beyond Yoga. The financial terms of the deal haven't been disclosed yet. Levi's believes that post-Covid-19, it is a lucrative market to expand. Levi's said in a press release that Beyond Yoga would function as a standalone division and possibly provide over USD100m (£72m) to the company's total revenue in the fiscal year 2022.
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