Global Athleisure Market Expected to Reach Approximately US$ 450 billion by 2028: Ken Research

Athleisure also categorized as hybrid clothing, refers to manufactured apparel that is frequently worn for athletic activities as well as in other contexts including the job, school, or other informal or social gatherings. According to Ken Research Analysis, the Global Athleisure Market is expected to record a positive CAGR of ~8% during the forecast period (2022-2028) and is expected to reach approximately US$ 450 billion by 2028.

An important factor influencing the market demand is an increase in consumer fitness and health consciousness, which is fueling the desire for stylish and comfortable clothing and is expected to drive the growth of the Athleisure Market. Athletic wear clothes are highly used by men, women, and children related to sports and games.

Key Trends by Market Segment

By Type: The clothing type segment held the largest market share in the Global Athleisure Market in 2021.

Athletic-casual attire is increasingly accepted in a variety of social contexts. Many of the clothes that are now deemed appropriate for the workplace are made from sports-inspired materials like spandex, lycra, and other synthetic fibers.
Additionally, athleisure is now more widely recognized in the workplace. Many workers believe that wearing casual t-shirts and athletic sneakers to work is acceptable. One of the main elements boosting the demand for the clothing segment in the worldwide market is the comfort of athleisure wear.

By End User: The women end user segment held the largest share of the Global Athleisure Market in 2021.

Sports and fitness participation among women is anticipated to propel market growth. It is also anticipated that a rising number of women joining sports groups to stimulate the Athleisure Market expansion. Apart from that, customers are significantly influenced by celebrity endorsements, marketing, and events put on by well-known people which is in turn positively impacting the market growth.
The Sasakawa Sports Foundation (SSF) estimates that 72.4% of all Japanese people participate in sports at least once a year. Furthermore, nearly 70% of all women in the nation participate in sports at least once a year. This element is increasing the nation's demand for athleisure and sportswear.

By Distribution Channel: The online sales distribution channel segment held the largest share of the Global Athleisure Market in 2021.

With a dominant market share, the online distribution channel is likely to grow rapidly throughout the forecast period. The market's growth can be attributed to consumers buying more apparel through online distribution channels. Furthermore, the demand for athleisure is being fueled by the expansion of online e-commerce platforms. Additionally, the use of internet distribution platforms has expanded as a result of the COVID-19 pandemic.

By Geography: Asia Pacific accounted for the largest market share in 2021 within the total Global Athleisure Market.

During the projection period, it is predicted that the rising middle class is expected to increase health consciousness and the burgeoning sporting cultures of nations like China, India, Australia, and Japan will drive athleisure product demand. For instance, the Tokyo Olympics 2020 and Paralympic Games, which had a significant impact on the growth of the athleisure market by ensuring the wide availability of products to suit varying requirements and levels of professional use, contributed significantly to the increase in Japanese enthusiasm for sports between 2019 and 2020.

Competitive Landscape

The Global Athleisure Market is highly competitive with ~400 players which include globally diversified players, regional players as well as a large number of country-niche players.

Country niche players and regional players constitute ~60% and ~30% respectively, in terms of the number of players. Some of the major players in the market include Adidas AG, American Eagle Outfitters Inc., Nike, Inc., Puma Se, The Gap, Inc., ALALA, Esprit Retail B.V. & Co. KG, Carbon38 Inc., Under Armour, Inc., Columbia Sportswear Company, Lululemon Athletica Inc., and others.

Recent Developments Related to Major and Emerging Companies

In March 2022, Puma invented Nitro Foam, a lighter-weight, responsive foam created by using nitrogen. It also created a brand-new rubber outsole technology. The company launched five new models which include eternity, deviate, deviate elite, liberate, and velocity.
In October 2022, footwear retail chain, Metro Brands saw its share price rise by 20% after signing a share purchase agreement to buy Cravatex Brands. The purchase was carried out to increase its footprint in the sports and athleisure market in India. Metro Brands will obtain Proline's exclusive rights through this acquisition, as well as FILA's sales and distribution rights in India across all formats, including Airport Stores, Distribution, Online Marketplaces, Exclusive Brand Stores, Multi Brand Stores, and Webstores.
In March 2021, Kohl's introduced FLX, a private label athleisure range to increase sales of athletic and casual clothing from 20% to 30% of its overall company. FLX is size-inclusive and environmentally conscious, and it can be found in more than 300 Kohl's stores and online at Kohls.com.

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Key Topics Covered in the Report

Snapshot of the Global Athleisure Market
Industry Value Chain and Ecosystem Analysis
Market size and Segmentation of the Global Athleisure Market
Historic Growth of the Overall Global Athleisure Market and Segments
Competition Scenario of the Market and Key Developments of Competitors
Porter's 5 Forces Analysis of the Global Athleisure Market
Overview, Product Offerings, and SWOT Analysis of Key Competitors
COVID-19 Impact on the Overall Global Athleisure Market
Future Market Forecast and Growth Rates of the Total Global Athleisure Market and by Segments
Market Size of Type / End User Segments with Historical CAGR and Future Forecasts
Analysis of the Athleisure Market in Major Regions
Major Production / Consumption Hubs in the Major Regions
Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
Overview of Notable Emerging Competitor Companies within Each Major Country

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Major Players Mentioned in the report

Adidas AG
American Eagle Outfitters Inc. 
Nike, Inc.
Puma SE
The Gap, Inc.
ALALA
Esprit Retail B.V. & Co. KG
Carbon38 Inc.
Under Armour, Inc.
Columbia Sportswear Company
Lululemon Athletica Inc.

Key Target Audience - Organizations and Entities Who Can Benefit by Subscribing This Report

Apparel Manufacturers
Rubber Suppliers
Footwear Manufacturer
Athletic Accessories Manufacturers
Nylon Suppliers
Vegan Goods Manufacturers
Sportswear Manufacturers
Fabric Manufacturers
Clothing Designer Agencies
Company Research and Development Institutes
Market Research & Consulting Firms
Banking and Financial Service Providers
Government & Environment Regulatory Authorities
Material Suppliers
Start-ups in Apparel Sector
Quality Test & Inspection Companies
Marketing Agencies
Supermarkets & Hypermarkets
Online Retail Platforms

Time Period Captured in the Report

Historical Period: 2017-2021
Forecast Period: 2022E-2028F

For more insights on the market intelligence, refer to the link below: -

https://www.kenresearch.com/business-research/global-athleisure-market-outlook-2028/

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