Athleisure Market Is Expected To Reach Revenue Of USD 902.4 Bn By 2033, At 9.1% CAGR: Dimension Market Research.

New York, Nov. 19, 2024 (GLOBE NEWSWIRE) -- Overview

The Global Athleisure market is projected to reach USD 393.7 billion in 2024 which is further anticipated to reach USD 902.4 billion by 2033 at a CAGR of 9.7% .

The driving factor in the growth of the global athleisure market is people's increasing demand for wearing multi-wear apparel that combines comfort, performance, and fashion. Athleisure blends casual wear with athletic functionality, making it suitable for workouts and day-to-day activities.

Increasing health awareness, the rising culture of fitness habits, and the incorporation of fashion trends into athletic apparel join together to become major contributing factors for this industry. Major brands now focusing on market share by offering innovative designs and using sustainable materials.

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The market is thus expected to further continue its strong growth trajectory with a notable CAGR during the forecast period. Some of the trends that mold this competition are eco-friendly materials, along with technological advances in athletic wear. The landscape is fluid, pitting established players against their emerging challengers...

The US Athleisure Market

The US Athleisure Market with an estimated value of USD 154.6 billion in 2024 is projected to increase at a compound annual growth rate of 9.1% until reaching USD 338.8 billion by 2033.

The rising trends within the U.S. athleisure market are rapid owing to growing fitness awareness coupled with the shift towards casual, comfortable clothing styles. Consumers are looking for versatile outfits that would cater to an active lifestyle by keeping both style and comfort in mind.

Notable trends include the use of sustainable materials and eco-friendly manufacturing techniques. Major players like Lululemon and Nike lead the way in innovations with performance fabrics and design.

Besides, e-commerce and social media marketing favor the development of the athleisure market and make fashion and functional clothes more accessible to a great number of people.

Important Insights

• Global Market Value: The Global Athleisure Market is estimated at USD 393.7 billion in 2024, reaching USD 902.4 billion by 2033.
• US Market Value: The US Athleisure Market is projected to grow from USD 154.6 billion in 2024 to USD 338.8 billion by 2033.
• Regional Analysis: North America is expected to hold a 46.7% market share in the Global Athleisure Market in 2024.
• Product Segment Analysis: Shirts and T-shirts are expected to dominate the product segment, holding 46.7% market share in 2024.
• Distribution Channel Analysis: The offline distribution channel is projected to dominate, accounting for 73.1% of the market share in 2024.
• Key Players: Major players include Nike, Adidas, Lululemon, Puma, Under Armour, Reebok, Gymshark, and others in the market.
• Global Growth Rate: The Global Athleisure Market is forecasted to grow at a CAGR of 9.7% during the period 2024–2033.

Latest Trends

• Sustainability: Consumers are increasingly preferring eco-friendly materials, For that reason, brands are innovating with more sustainable fabrics and new ways of production. This could be a trend to mould the future of the athleisure industry because these companies went into a thoughtful balance between fashion and eco-conscious practices to meet the increased market demand.
• E-commerce Growth: The increase in online platforms and social media exposes more consumers to athleisure products, improving market penetration. Brands are utilizing these channels to increase their presence among more consumers, enhance customer interaction, and showcase new products.

Athleisure Market: Competitive Landscape

• The athleisure market is fragmented and highly competitive, with major recognitions in the market leaders Nike, Adidas, Lululemon, and Puma. These companies are focusing on product innovations, sustainability initiatives, and further expanding their global presence through strategic partnerships and collaborations.
• Emerging brands like Gymshark and Alo Yoga tap into niche segments of this fashion category, competent in social media marketing and direct-to-consumer models. Some key trends to watch include sustainable materials and eco-friendly manufacturing processes. Major players, such as Lululemon and Nike, lead innovative means in performance fabrics and design.

Some of the prominent market players:

• Nike, Inc.
• Adidas AG
• Lululemon Athletica Inc.
• Puma SE
• Under Armour, Inc.
• Reebok International Ltd.
• Gymshark
• Alo Yoga
• Fabletics
• Athleta (Gap Inc.)
• ASICS Corporation
• New Balance Athletics, Inc.
• Other Key Players

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Athleisure Market Scope

Market Analysis

Shirts and T-shirts is projected to dominate the product segment with 30.1% of the market share in 2024. In the product category, shirts and T-shirts are the most in-demand due to their versatility, comfort, and appeal daily. They find wide adoption for both athletic activities and as casual wear, balancing functionality and fashion well.

Their strong popularity across wide demographics is due to their affordability, ease of customizing, and adaptability to more trends. Innovations by brands with moisture-wicking fabrics and breathable material keep coming back to better drive demand.

More precisely, fashion trends in T-shirt designs, which are touted as a key driver in the athleisure market, have entrenched them at the head of product segment leadership.

Athleisure Market Segmentation

By Product

• Shirts & T-Shirts
• Yoga Apparel
  • Tops
  • Pants
  • Shorts
  • Unitards
  • Capris
  • Others
• Leggings
• Hoodies & Sweatshirts
• Joggers & Sweatpants
• Shorts
• Others

By Material

• Cotton
• Polyester
• Nylon
• Spandex
• Others

By Category

• Mass
• Premium

By Distribution Channel

• Offline
  • Hypermarkets & Supermarkets
  • Sporting Goods Retailers
  • Brand-Owned Stores
  • Department Stores
• Online
  • E-commerce Platforms
  • Brand Websites

By End-user

• Men
• Women
• Children

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Growth Drivers

• Health Consciousness: More consciousness about fitness creates demand for multifunctional athleisure wear that can help people to be more active. People now look more for clothing that will be able to provide athletic performance and daily comfort, hence health is considered a prime factor in the market surge.
• Comfort and Style : All factors considered, versatile but stylishly comfortable wear is one of the high demanding reasons for boosting popularity towards athleisure. This segment of apparel can easily penetrate from casual to work and athletic wears, which influences continuous growth in diversified consumer demographics.

Restraints

• Price Sensitivity: The premium pricing of high-quality athleisure products may limit their appeal among cost-sensitive consumers, creating a barrier to wider market adoption, particularly in emerging regions.
• Competition from Fast Fashion: Competition is not far behind in the form of fast-fashion brands that sell garments at low prices and are challenging premium athleisure. These low-cost players can swiftly gain market share by replicating the trends at lower prices.

Growth Opportunities

• Technological Innovation: It involves technology in innovation: advanced fabric technologies, moisture wicking, and temperature regulations. This gives the product functionality, creating new growth opportunities for the delivery of high-performance athleisure products.
• Emerging Markets: Expansion into the Asia-Pacific and Latin America are further opportunities for growth. Growing disposable incomes and an increase in fitness trends in these regions fuel demand for fashionably functional athleisure wear.

Regional Analysis

North America is anticipated to dominates the global athleisure market with 46.7% of the market share in 2024. North America continues to be at the forefront of the global athleisure market due to its relatively higher level of awareness for health and fitness, entailing strong disposable income and leading demand levels for athletic wear.

Major market players like Nike, Lululemon, and Under Armour also have headquarters in the region, promoting innovation in performance wear. Besides, consumers in the region have a predisposition toward health-conscious lifestyles, with a demand for athleisure clothing that marries comfort and performance.

E-commerce platforms and social media also contribute to one of the major reasons for market growth, and during the forecast period, North America leads in the market.

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By Region

North America

• The U.S.
• Canada

Europe

• Germany
• The U.K.
• France
• Italy
• Russia
• Spain
• Benelux
• Nordic
• Rest of Europe

Asia-Pacific

• China
• Japan
• South Korea
• India
• ANZ
• ASEAN
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Argentina
• Colombia
• Rest of Latin America

Middle East & Africa

• Saudi Arabia
• UAE
• South Africa
• Israel
• Egypt
• Rest of MEA

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Recent Developments in the Athleisure Market

• October 2023: Adidas launched its 'Infinite Play' recycling initiative, aiming to promote sustainability through athletic wear recycling programs.
• September 2023: Lululemon introduced an ultra-lightweight yoga gear collection, focusing on performance, comfort, and style for yoga enthusiasts.
• August 2023: Nike expanded its 'Move to Zero' sustainability campaign, reinforcing its commitment to reducing carbon emissions in production.
• July 2023: Puma partnered with influencers to launch a Gen Z-targeted athleisure collection, appealing to younger, fashion-forward consumers.
• June 2023: The Global Athleisure Conference highlighted industry-wide sustainability efforts, driving conversations about eco-friendly materials and practices.
• May 2023: Under Armour reported a 15% increase in athleisure sales, driven by rising consumer interest in fitness and wellness apparel.

About Dimension Market Research (DMR):

Dimension Market Research (DMR) is a market research and consulting firm based in India & US, with its headquarters located in the USA (New York). The company believes in providing the best and most valuable data to its customers using the best resources analysts work, to create unmatchable insights into the industries, and markets while offering in-depth results of over 30 industries, and all major regions across the world.

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