the market is expected to grow from US$ 411.02 billion in 2021 to US$ 793.46 billion by 2028; it is estimated to grow at a CAGR of 9.9% from 2021 to 2028. The report highlights key factors governing the athleisure market growth, and prominent players and their progress in the market.
Athleisure combines comfort of athletic wear with the fashion quotient of leisure apparel to create a contemporary style of clothing. It is a fabricated style of clothing that is mostly worn during athletic and fitness activities, as well as casual wear at workplaces or at social events.
The growing number of millennials across the world has propelled the demand for athleisure. Due to the flourishing trend of fitness, millennials are increasingly engaging in fitness and sports activities. Moreover, the increased level of consciousness about their physical appearance has propelled the demand for fashionable and comfortable athletic wear among millennials. Athleisure brands are increasingly focusing on delivering youth-centric sportswear with an emphasis on design and comfort. Along with this, the growing influence of public figures on this demographic group propels the demand for athleisure brands, as celebrities and sportspeople generally feature as ambassadors for these brands.
Adidas AG; Asics; Athleta LLC; Authentic Brands Group; Columbia Sportswear Company; Hennes and Mauritz AB; Lululemon Athletica; Nike, Inc.; Puma SE; and Under Armour Inc. are among the key players constituting the majority of athleisure market share.
Impact of COVID-19 Pandemic on Athleisure Market
The COVID-19 pandemic adversely affected the consumer goods industry due to the forced shutdown of manufacturing facilities, challenges in procuring raw materials, and restrictions on logistic operations. Disruptions in raw material supply to manufacturers amid the containment measures hampered athleisure production in 2020. However, many businesses are resurging with relaxation in restrictions imposed by governments across the world. During the pandemic, people have started focusing more on consuming sustainable products, which has driven the manufacturers’ attention toward the development of sustainable athleisure products. Thus, the traction toward online yoga and fitness sessions during the COVID-19 pandemic boosted the demand for athleisure from health-conscious consumers. Moreover, increased popularity of e-commerce during this global crisis has supported the athleisure market progress. In January 2021, Marks Spencer announced the expansion of its Goodmove Activewear ranges to address the burgeoning demand, and target men and kids categories, as online sales of its activewear for women grew 200% from March to September 2020.
Get Sample Copy with Complete TOC and Figures Graphs @
https://www.theinsightpartners.com/sample/TIPRE00013365/
About Us:
The Insight Partners is a one-stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Life Science, Technology, Healthcare, Manufacturing, Automotive and Defense, Food Beverages, chemicals etc.
Contact Us:
Call: +1-646-491-9876
Email: [email protected]
