Athleisure Market Size, Share, Comprehensive Analysis, Opportunity Assessment by 2028

Increased Demand from Millennials Drives Athleisure Market Growth

According to our latest market study on "Athleisure Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Type (Top Wear, Bottom Wear, Footwear, and Others), Category (Men, Women, Unisex, and Kids), Distribution Channel (Supermarkets & Hypermarkets, Specialty Stores, Online Retail, and Others), and Geography," the market is expected to grow from US$ 411.02 billion in 2021 to US$ 793.46 billion by 2028; it is estimated to grow at a CAGR of 9.9% from 2021 to 2028. The report highlights key factors governing the athleisure market growth, and prominent players and their progress in the market.

Athleisure combines comfort of athletic wear with the fashion quotient of leisure apparel to create a contemporary style of clothing. It is a fabricated style of clothing that is mostly worn during athletic and fitness activities, as well as casual wear at workplaces or at social events.

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The growing number of millennials across the world has propelled the demand for athleisure. Due to the flourishing trend of fitness, millennials are increasingly engaging in fitness and sports activities. Moreover, the increased level of consciousness about their physical appearance has propelled the demand for fashionable and comfortable athletic wear among millennials. Athleisure brands are increasingly focusing on delivering youth-centric sportswear with an emphasis on design and comfort. Along with this, the growing influence of public figures on this demographic group propels the demand for athleisure brands, as celebrities and sportspeople generally feature as ambassadors for these brands.

Adidas AG; Asics; Athleta LLC; Authentic Brands Group; Columbia Sportswear Company; Hennes and Mauritz AB; Lululemon Athletica; Nike, Inc.; Puma SE; and Under Armour Inc. are among the key players constituting the majority of athleisure market share.

Impact of COVID-19 Pandemic on Athleisure Market

The COVID-19 pandemic adversely affected the consumer goods industry due to the forced shutdown of manufacturing facilities, challenges in procuring raw materials, and restrictions on logistic operations. Disruptions in raw material supply to manufacturers amid the containment measures hampered athleisure production in 2020. However, many businesses are resurging with relaxation in restrictions imposed by governments across the world. During the pandemic, people have started focusing more on consuming sustainable products, which has driven the manufacturers' attention toward the development of sustainable athleisure products. Thus, the traction toward online yoga and fitness sessions during the COVID-19 pandemic boosted the demand for athleisure from health-conscious consumers. Moreover, increased popularity of e-commerce during this global crisis has supported the athleisure market progress. In January 2021, Marks & Spencer announced the expansion of its Goodmove Activewear ranges to address the burgeoning demand, and target men and kids categories, as online sales of its activewear for women grew 200% from March to September 2020.

The "Global Athleisure Market Analysis to 2028" is a specialized and in-depth study of the consumer goods industry, focusing on the athleisure market trend analysis. The report aims to provide an overview of the market with detailed market segmentation. The athleisure market is segmented on the basis of type, category, distribution channel, and geography. Based on type, the market is segmented into top wear, bottom wear, footwear, and others. Based on category, the athleisure market is segmented into men, women, unisex, and kids. Based on distribution channel, the market is segmented into supermarkets & hypermarkets, specialty stores, online retail, and others. Based on geography, the market is segmented into five main regions North America, Europe, Asia Pacific (APAC), South & Central America, and the Middle East & Africa (MEA). Asia-Pacific is expected to be the fastest-growing region in the athleisure market, followed by North America. The growing millennial population, along with the increasing demand for comfortable and fashionable sportswear, is driving the demand for athleisure in Asia Pacific. Further, the presence of global manufacturers such as Nike, Inc.; Adidas AG; and Puma SE in various countries of Asia Pacific is creating growth opportunities for the athleisure market to expand their presence in this region.

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This release was published on openPR.