Leggings Market: Drivers, Restraint & Future Growth
A report by Transparency Market Research on the leggings market finds that it is fragmented owing to low entry barriers – initial capital required to set up a manufacturing unit is reasonable enough to attract new entrants. As per the report, the market is poised to grow in the next couple of years – one more reason why many are aspiring to foray into it. In order to stay ahead of competition in such a cut throat market, leading players are banking upon quality products, solid distribution chains, strategic partnerships, and brand recall.
Global Leggings Market: Key Trends
At the forefront of driving demand for leggings is the enduring appeal of the product, which is catching up even in the oriental nations with different clothing habits. This is because of the convenience and comfort it offers to the wearer. Both men and women can wear it for various purposes - both for the sake of fashion or for working out or indulging in sports activities. This versatility has gone a long way in sustaining the demand of the product.
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In order to up sales of leggings, players are seen experimenting with different materials apart from the typically used nylon, lycra (aka spandex), polyester blend, or cotton. Bigger players particularly are pulling out all stops to improve quality and design of their products which they then sell at premium prices. Their smaller regional counterparts too are making every effort to come up with an array of designs. This is serving to boost market growth.
Despite steady sales, the market for leggings has failed to achieve its full potential owing to competitive pricing strategies applied by regional players. They have inundated the market with cheaper products forcing the bigger players to offer multipack merchandise at throwaway prices. This has posed a challenge to revenue growth which in turn is negatively impacting the market.
One noticeable trend in the market for leggings is the backward integration by the savvy players. In order to reduce dependency on suppliers and better quality, they are seen producing their own yarn too.
Global Leggings Market: Regional Outlook
North America and Europe have been frontrunners in driving demand for leggings worldwide. This is because the pair of clothing is also used as hosiery in the region. Apart from that a large number of sports and yoga enthusiasts alongside the high spending capacity of people has served to boost their markets too. They are also home to some of the big brands in the market such as Nike, Puma, and Adidas.
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Besides the two regions, emerging economies in Asia Pacific and Latin America are also proving to be lucrative markets. Influence of the western culture affecting the food and clothing choices of people, mushrooming clothing manufacturing units, and increasing disposable incomes of people in the regions are mainly bolstering sales there.
Global Leggings Market: Competitive Dynamics
Prominent participants in the global market for leggings include Tommy Hilfiger, Bata, Adidas, Jockey, CALVIN KLEIN, Sho Sho Fashion, Macys, Nike, ANTA Sports Products Limited, Nordstrom, Lysse, CSP International, Under Armour, AEO, Deckers Brands, Spanx, and Dollar
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information. TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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