Athleisure Market

Global Athleisure Market Size (2024 to 2032)

The Global Athleisure market was valued at USD 337.81 billion in 2023. The global market size is expected to grow at a CAGR of 8.9% from 2024 to 2032 and be worth USD 727.66 billion by 2032 from USD 367.88 billion in 2024.

Current Scenario of the Global Athleisure Market

In the world of today, people have been giving considerable importance to fashion products that justify comfort and style. Athleisure has gained recognition as a prominent trend in the fashion industry and the adoption of athleisure products has seen tremendous growth in recent years. The rise of athleisure is expected to propel further in the coming years owing to the increasing awareness among people, especially among the younger generation regarding the benefits of athleisure products.

MARKET DRIVERS

The growing young population and increasing prevalence of outdoor recreational activities are majorly elevating the growth of the athleisure market.

The growing prominence of sports and outdoor activities among the younger generation is fuelling the demand for athleisure products. The trend towards sports activities among children between 6-17 years of age is solely to level up the demand for athleisure products. Also, the survey stated that the number is increasing rapidly with the growing level of parent’s education. According to the National Health Survey, in 2020, around 54.1% of children showed passion for sports. The offerings of customized sportswear by several companies to increase customer satisfaction is another major factor propelling the growth of the global athleisure market.  Customer choice for fashionable sportswear is favoring the global market growth. Key market players have been focussing on the launch of innovative sportswear with technological advancements to attract customers. This fashion trend made its way into the athleisure sector and is driving the demand for athleisure products.

The rising emphasis on health and growing awareness among people regarding the importance of having a healthy lifestyle are promoting the demand for athleisure products and contributing to global market growth. Nowadays, people are more conscious about health due to the rising prevalence of chronic diseases. The rapid adoption of fitness activities such as weight training, yoga, aerobics, and others is increasing the growth rate of the global market. Along with this, an increasing expenditure on sports activities is increasing the growth rate of the athleisure market.

Many key players have been focusing on introducing various styles of clothing for fitness enthusiasts. Athleisure has gained popularity across the world over the past couple of years as the clothing is designed for both athletic activity and everyday use. Young people who are highly conscious of fitness and designed branded clothes are adopting these clothing designs everywhere. Increasing female fitness enthusiasts is ascribed to fuel the growth rate of the market in the coming years. Female consumers are concentrating on fitness apparel that is comfortable while doing fitness activities. For instance, around 70% of the women population in Japan are into sports activities every year. Along with this, the launch of advanced products in favor of the geriatric population, such as enhanced grip, wicking, and back support, is set to amplify the market growth soon. Increasing requirement for these products from the aging population is ascribed to boost the market growth rate in the coming years.

MARKET RESTRAINTS

The high cost of the raw materials is hampering the growth of the global athleisure market.

Lack of awareness in underdeveloped countries and poor support from both private and public organizations over this clothing style is hindering the athleisure market growth. Consumer preferences for lower quality and less priced goods rather than luxurious sports goods are posing a challenging factor for the market key players. People in developing and underdeveloped countries cannot afford expensive branding apparel for sports, which is directly limits the market growth rate. In addition, the availability of alternate apparel is impeding the market growth rate.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Athleisure Market Analysis By Product

The sneakers segment was the biggest segment and accounted for 41.9% of the global athleisure market in 2023. The domination of the sneakers segment in the global market is estimated to continue throughout the forecast period. Increasing awareness of the benefits of long-lasting performance footwear among fitness enthusiasts is surging the demand for sneakers and is propelling segmental growth. The sneakers are designed to provide flexibility during sports activities, which is why the demand is growing and is fuelling the growth rate of the sneakers segment in the global market. The collaborations between sportswear brands and fashion designers are promoting the growth of the sneakers segment in the global market. For instance, Adidas partnered with Stella McCartney for stylish sneakers.

The leggings segment is another major segment and held 18.4% of the global market share in 2023. The leggings is predicted to register healthy growth during the forecast period.  An increase in the number of people showing interest in yoga and fitness and body-positivity movements is driving the growth of the leggings segment in the global market. The joggers segment is deemed to grow at a steady CAGR during the forecast period in the global market owing to the growing number of launches of joggers in favor of consumer expectations. Joggers are becoming a part of the life of men as these are specially designed for men to meet the needs of the customer in daily life.

Global Athleisure Market Analysis By Gender

The male segment dominates the athleisure market in 2023 and is predicted to register a CAGR of 6.7% during the forecast period. On the other hand, the female segment is expected to grow at the highest CAGR during the forecast period owing to the growing disposable income and increasing interest in healthy lifestyles. For instance, Nike, one of the topmost companies, has launched various products using Dri-fit technology for both men and women globally.

Global Athleisure Market Analysis By Distribution Channel

The offline segment led the market in 2023, accounting for 72.8% of the global market share. The domination of the offline segment is expected to continue in the global market throughout the forecast period owing to the availability of a wide range of apparel at offer prices in nearby stores such as hypermarkets/supermarkets, franchise stores, and specialty stores. These stores offer a wide range of collections for customers at affordable prices, which is leveraging the shares of the market. Offline stores also promote marketing strategies by conducting loyalty programs and influencing customers through social media posts. On the other hand, the online segment is likely to have the fastest CAGR during the forecast period. The sales of athleisure products over online channels have been growing at an exponential rate, which is primarily boosting segmental growth. The launch of various applications and high penetration of the IoT in almost every region is propelling the online segment's growth rate.

REGIONAL ANALYSIS

North America was the largest regional segment in the global market in 2023 and captured 40.3% of the worldwide market share and is expected to continue the same flow during the forecast period. Growing per capita income and increasing spending on fitness activities, especially in developed countries like the U.S. and Canada, are major factors for the market growth in this region. Shifting trends towards healthy lifestyles and a growing number of people hitting gyms, yoga studios, and other fitness locations are also likely to promote the growth rate of the North American market. The U.S. is anticipated to hold the major share of the North American market during the forecast period and is predicted to witness a CAGR of 7.2%. The growing investments from the U.S. government towards the launch of innovative products are driving the U.S. market growth primarily. The major market participants in the U.S. are partnering with fitness influencers and celebrities in the U.S. for product promotion and boosting the demand for athleisure products, which is further fuelling the growth rate of the U.S. market.

The Asia Pacific athleisure market is another promising regional segment in the global market and is predicted to register the fastest CAGR during the forecast period owing to the growing young population and rising awareness over the use of sportswear among consumers with the increasing expenditure on fitness activities. Increasing collaborations with social media influencers is also a factor in gearing up the growth rate of the regional market. China accounted for the largest share of the APAC market in 2023 and the lead of the Chinese market in the Asia-Pacific region is expected to continue throughout the forecast period owing to the growing number of online shopping consumers. Roughly 18% of Chinese have purchased the apparel through online shopping in 2020. Some of the top brands like Lycra and Spandex are launching various products inspired by sportswear, which they are getting accepted as work-appropriate garments.

The European athleisure market is forecasted to hit a prominent CAGR during the forecast period. Factors such as ongoing fashion design shows, rapid digitalization, and changing consumer preferences to buy sportswear that can be used as casual wear are accelerating the demand for athleisure products in Europe and driving the European market growth. The UK market held the major share of the European market in 2023 and is projected to showcase steady growth during the forecast period.

Latin America, and Middle East & Africa are likely to have new growth opportunities in the near future.

KEY PLAYERS IN THE GLOBAL ATHLEISURE MARKET

Companies that play a noteworthy role in the global athleisure market are Nike, Under Armor, Adidas, Lululemon Athletic, Asics Corporation, Columbia Sportswear Company, Gap Inc., North Face and Phillips-Van Heusen Corporation.

RECENT HAPPENINGS IN THE MARKET

• In 2023, Adidas, one of the leading companies in sportswear, announced that it agreed to a franchise deal with CK Jaipuria Group in India. This is the biggest deal for Addidas in India, as they are set to launch 100 footwear and sportswear stores across India by the end of 2024.
• In 2023, Vuori Inc., a top company in the activewear brand, announced that it is going to open 20 to 25 new stores. The headquarters is located in California, along with 35 other stores located in major states in the US, like Los Angeles, Seattle, San Fransico, and Boston.
• In 2023, PANGAIA announced its plan to expand the brand’s popularity towards sustainability and innovation in material science. These products introduced by this brand not only look stylish but are also eco-friendly as they are manufactured with plant-based materials.

DETAILED SEGMENTATION OF THE GLOBAL ATHLEISURE MARKET INCLUDED IN THIS REPORT

This research report on the global athleisure market has been segmented and sub-segmented based on the product type, gender, distribution channel, and region.

By Product

• Sneakers
• Joggers
• Leggings
• Hoodies
• Others

By Gender

• Female
• Male

By Distribution Channel

• Online
• Offline

By Region:

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa