Activewear Market Continues to Grow, with US$ 771.8 Billion Valuation and 6.2% CAGR Forecasted for 2023-2032

The activewear market size was valued at $425.5 billion in 2022, and is estimated to reach $771.8 billion by 2032, growing at a CAGR of 6.2% from 2023 to 2032.

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Market Overview

Activewear is apparel, footwear, and accessories meant for sports and physical activities such as sprinting, yoga, bicycle riding, and other sports. Activewear comprises lightweight, breathable fabrics that allow for freedom of movement and comfort when exercising. With characteristics such as moisture-wicking, temperature management, and compression, these clothing are particularly intended to give utility and performance. Sports bras, leggings, shorts, tank tops, t-shirts, and jackets are examples of activewear apparel. In recent years, the sportswear industry has grown significantly, with an emphasis on efficiency, environmental responsibility, and aesthetics.

Rise in awareness of the benefits of participating in sports activities, such as better focus and problem-solving ability, has increased spending on fitness and sports apparel and footwear for youngsters. Furthermore, the educational systems of many nations across the world have contributed to the expansion of fitness business by recognizing the advantages of physical activities and incorporating them into the school curriculum. Fitness, health, and sports education initiatives at educational institutions have improved youth engagement and interest in fitness and sports activities. Furthermore, state-level, national-level, and international-level competitions held by various governments around the world have encouraged participation and developed interest in sports activities among this population, which is expected to increase purchasing of sports and fitness-related products. Thus, the rise in fitness and sports awareness among the younger population has fueled the activewear market opportunity for growth.

The introduction of e-sports has grabbed youth and acquired enormous popularity globally in recent years. Access to digital gadgets, widespread internet penetration, and increased use of social media platforms have all boosted e-sports. Furthermore, the COVID-19 pandemic has increased participation in e-sports, which has improved its attractiveness among millennials. Digital media and video games are pushing people all around the world to live sedentary lifestyles. Spending lengthy periods of time sitting and playing video games or consuming digital information discourages individuals from participating in and engaging in physical exercise.The growing popularity of e-sports has pushed young people to pursue it as a job, pastime, and source of pleasure. As a result, the growing popularity of e-sports poses a significant threat to outdoor sports such as tennis and football. The growing popularity of e-sports causes a decline in young engagement in sports and physical fitness activities, which has a negative impact on the activewear market growth. As a result, the increase in acceptance of e-sports amongst youth globally is expected to hinder the growth of the activewear market throughout the forecast period.

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Market Segmentation

The global activewear market is segmented into product type, fabric, gender, distribution channel, and region. By product type, the market is classified into ready-to-wear; fashion outer, pants, & t-shirts; rash guard, wet suit, & swim wear; sports shoes, aqua shoes, & aqua socks, and fashion brand. On the basis of the fabric, it is categorized into polyester, nylon, neoprene, polypropylene, spandex, cotton, and others. On the basis of the gender, the market is classified into men, women, and kids. Depending on the distribution channel, it is bifurcated into offline and online. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, Spain, Italy, and the rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and the rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).

Major Key Players

Players operating in the global activewear market have adopted various developmental strategies to expand their activewear market share, increase profitability, and remain competitive in the market. Key players profiled in this report include Dick's Sporting Goods, INC., V.F. Corporation, Columbia Sporting Company, LULULEMON ATHLETICA INC., Puma SE, NIKE, INC., Adidas AG, Under Armour, Inc., Skechers U.S.A., INC., ASICS Corporation, PVH CORP., and The GAP, INC.

Key findings of the study

According to the activewear market trends, on the basis of product type, the fashion outer, pants, & t-shirts segment dominated the activewear industry in 2022 and is expected to retain its dominance throughout the forecast period.

By fabric, the polyester segment led the global activewear market demand in 2022 and is expected to retain its dominance throughout the forecast period.

According to the activewear market analysis, on the basis of gender, the women segment led the global market in 2022 and is expected to retain its dominance throughout the forecast period.

On the basis of distribution channel, the offline segment dominated the global market in 2022 and is expected to retain its dominance throughout the activewear market forecast period.

Region wise, North America accounted for the highest market share in 2022 and is expected to grow at a CAGR of 4.9%.

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Related Article:

https://www.prnewswire.com/news-releases/global-activewear-market-to-reach-771-8-billion-by-2032-at-6-2-cagr-allied-market-research-301843447.html

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