COVID-19 IMPACT: Athleisure Market Growth, Restrains and Opportunities 2020-2026 | Nike, Gap Inc., Under Armour, Phillips-Van Heusen Corporation, Adidas, Asics Corporation, Puma, Columbia Sportswear Company
Rise in the inclination of consumers for participating in physical fitness activities, increase in health and wellness trend among the target customers, and surge in the number of millennials across the globe drive the growth of the global athleisure market. On the other hand, volatile cost of raw materials and availability of counterfeit brands curtail down the growth to some extent. Nevertheless, rise in promotional activities & initiatives by various organizations are anticipated to create multiple opportunities in the sector.
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oThe sneaker segment to maintain its dominance during the forecast period-
Based on product type, the sneaker segment contributed to nearly one-fourth of the global athleisure market share in 2019, and is projected to rule the roost by 2026. At the same time, the leggings segment would showcase the fastest CAGR of 7.9% till 2026.
oThe offline segment to lead the trail through 2019-2026-
Based on distribution channel, the offline segment held the major share in 2019, generating nearly two-thirds of the global athleisure market. The online segment, on the other hand, is expected to cite the fastest CAGR of 7.1% during 2019-2026.
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oNorth America generated the highest share in 2018-
Based on region, North America accounted for nearly two-fifths of the global athleisure market revenue in 2019, and is anticipated to dominate during the study period. Simultaneously, Europe is anticipated to manifest the fastest CAGR of 7.8% throughout the estimated period. The other two regions analyzed in the report include LAMEA and Asia-Pacific.
oKey players in the industry-
The key market players analyzed in the market report include Nike, Gap Inc., Under Armour, Phillips-Van Heusen Corporation, Adidas, Asics Corporation, Puma, Columbia Sportswear Company, North Face, and Lululemon Athletic.These market players have combined several strategies including partnership, expansion, collaboration, joint ventures, and others to fortify their stand in the industry.
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