Extensive analysis regarding how the COVID-19 outbreak affects the Womens Activewear Market 2018-2025
In-depth analysis of the COVID-19 impact on the Womens Activewear Market@ https://www.alliedmarketresearch.com/request-sample/4787
Activewear is a utility clothing, which boosts physical performance and eases body movements, as it enhances comfort while engaging in fitness and sports activities.
The extensive advantages offered by activewear such as water resistance, bi-stretchable function, anti-bacterial fabric, wicking function, and others and surge in participation of consumers in physical and fitness activities majorly drive the global market. Moreover, there is an increase in the female consumer base for activewear, owing to holistic approach of female customers toward sports and fitness. Similarly, increase in adoption of athleisure wear as work or street wear propels the growth of the overall market. Furthermore, rise in disposable income and increase in fitness concerns significantly contribute toward the growth of the market. However, volatile cost of raw materials and inflated cost of designing lead to high cost of the final product. This hampers the sales of the product among price-sensitive customers, thereby restraining the market growth. Moreover, presence of counterfeit brands results in safety issues and inconvenience for consumers, which hamper the growth of the market. Conversely, increase in use of green textile and implementation of the sustainable production methods fuel the adoption of activewear among green consumers. Furthermore, rise in promotional activities such physical activity campaigns, empowerment programs, and activewear promotion by sponsoring celebrities or athletes is expected to provide lucrative opportunities for the key players.
One of the key factors influencing the growth of the womens activewear market is the dynamic fashion trends. Consumers are always eager to grasp the upcoming trend and demonstrate their fashionable lifestyle to others. This race to cope up with the changing fashion trend significantly influences consumers to purchase latest fashion designs, especially worn by celebrities, and on the other hand also subtly influences to discard phased out trending apparels.
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According to the World Bank, as of 2016, approximately 77.7% of the population in North America are internet users, followed by Europe and Central Asia, accounting for around 72.9% of the population as internet users. In addition, access to internet and online apparel stores has provided consumers a platform where they can easily compare assorted products and prices, and shop with comfort. Moreover, increase in ease of shopping of activewear from online retail portal is attracting a large consumer base using internet, which is anticipated to fuel the women's activewear market growth.
In addition, increase in popularity of coastal tourism leads to rise in demand for various water activities such as surfing, swimming, diving, and others, which in turn fosters the growth of the womens activewear market.
High price and remarkable popularity of activewear brands have led to the advent of counterfeit activewear brands. This factor restricts the sales of the existing original activewear brands in these regions. Counterfeit brands are of low quality, and often lead to inconvenience & safety issues to customers, subsequently developing negative perceptions among customers. Thus, proliferation of the counterfeited industry is anticipated to hamper the growth of the womens activewear market.
Most of the womens activewear manufacturers and retailers do not offer women's activewear above size 12. However, in prominent markets such as the U.S., South Africa, Mexico, and Saudi Arabia, more than one-third of the female population is obese, and a much higher percentage of the female population is plus size (14 or more). Expansion of the product line to serve the plus size population is anticipated to foster the women's activewear market growth.
The womens activewear market has been taking innovative steps for the promotion of their products, which in turn propels the market penetration rate across various regions. Motivational advertisements, running promotional campaigns, sponsoring sport events & competitions, and sponsoring of athletes' apparels are some of the key strategies that boost the womens activewear market.
Polyester segment dominates the womens activewear market in terms of value. There is an increase in the consumer preference for activewear formulated by using polyester fabric, owing to its advantages such as high flexibility; quick drying & easy wash; and resistance to shrinkage, wrinkles, abrasion, & most chemicals.
Key findings of the Womens Activewear Market:
In terms of value, the active outerwear segment is expected to grow at a CAGR of 9.1% during the forecast period.
North America is expected to dominate the market, registering a significant CAGR of 7.2% in terms of value.
Asia-Pacific is projected to show exponential growth throughout forecast years, growing at a CAGR 9.6%, in terms of value.
The polyester segment is anticipated to dominate global womens activewear market, registering a CAGR of 8.3%.
China accounted for more than one-third of the total Asia-Pacific womens activewear market in 2017.
In the global womens activewear market, India is expected to grow at a CAGR of 15.6%, in terms of value.
North America and Europe collectively accounted for around two-thirds of the womens activewear market share in 2017. Changes in lifestyle and rise in disposable income of consumers are expected to drive the growth of the Asia-Pacific market.
The key players operating in the womens activewear industry include Hanesbrands Inc., Mizuno Corporation, Adidas AG, ASICS Corporation, Columbia Sportswear Company, NIKE, Inc., V.F. Corporation, PUMA SE, Under Armour, Inc., and Gap, Inc.
The other prominent players in the market include 2XU, Marmot, Patagonia, Mountain Hardwear, Vie Active, LLC, Mountain Khakis, Forever 21, Jordan, Gramicci, Filas, Prana, Aeropostale, Ralph Lauren, Victoria's Secret, Jockey, Beyond Yoga, Lycra, and Lululemon.
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