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Gym Apparel Market 2024 - Size, Key Manufacturers, Demand Analysis, Share And Overview By 2033
Gym Apparel Market
According to The Business Research Company's, The gym apparel market size has grown strongly in recent years. It will grow from $214.08 billion in 2023 to $229.68 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to fitness and health awareness, athleisure trend, celebrity endorsements and influencer culture, technological innovations, e-commerce growth.
The gym apparel market size is expected to see strong growth in the next few years. It will grow to $306.2 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to sustainability and ethical practices, digitalization and personalization, emerging markets, health and wellness trends, innovation in performance wear. Major trends in the forecast period include rise of direct-to-consumer (DTC) brands, focus on inclusivity and diversity, expansion of sustainable product lines, integration of augmented reality (AR) and virtual reality (VR), health monitoring and fitness tracking.
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Market Drivers and Trends:
The increase in focus on health and fitness is expected to propel the growth of the gym apparel market. The emphasis on health and fitness is growing due to heightened awareness of overall well-being and a desire for improved quality of life and longevity. With more individuals prioritizing health and fitness, there is an increasing engagement in regular exercise routines, symbolizing commitment to individual well-being and identity. Gym apparel is designed to optimize performance during workouts. Moisture-wicking fabrics keep athletes dry and comfortable, allowing them to focus on exercise without distractions. For instance, in September 2023, according to the UK Fitness Report published by PureGym Limited, a UK-based health club chain, the number of gym members in the UK increased by 2% compared to last year, with 16% of the population currently being gym members. Additionally, another 16% of individuals have expressed their intention to join a gym in 2024. Therefore, the increase in focus on health and fitness is expected to propel the growth of the gym apparel market.
Companies operating in the gym apparel market are developing innovative products with eco-friendly and sustainable materials such as organic cotton gym wear, to appeal to environmentally conscious consumers and differentiate themselves in the competitive market. Organic cotton gym wear often boasts breathability, moisture-wicking, and comfort, making it suitable for various physical activities. For instance, in September 2022, Adidas AG, a Germany-based athletic apparel and footwear corporation, announced the launch of a fresh sportswear capsule collection showcasing a range of versatile pieces designed with minimalist aesthetics. This collection features performance running wear for men and women, all constructed with a minimum of 50% organic cotton. The items include a ribbed dress for women, a men's staple tee paired with woven trousers and a coach jacket, and a women's oversized hoodie with a ribbed crop top and biker shorts, among other options. Furthermore, the women's Ultraboost 22 Made with Nature incorporates the innovative features of the Ultraboost 22 while enhancing them with natural elements.
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Major Key Players of the Market:
Nike Inc., Adidas AG, Under Armour, Inc., Puma SE, Columbia Sportswear Company, New Balance Athletics, Inc., Lululemon Athletica Inc., Fila Holdings Corp., Ralph Lauren Corporation, Iconix International, ASICS Corporation, VF Corporation, Skechers USA, Inc., Anta Sports Products Limited, Li Ning Company Limited, Decathlon Group, Hanesbrands Inc., Mizuno Corporation, The North Face, Inc., Umbro International Limited, Reebok International Limited, Brooks Sports Inc., Iconix International, Reebok International Limited, Patagonia Inc., Karhu Holding BV, Umbro International Limited
Gym Apparel Market 2024 Key Insights:
• The gym apparel market size is expected to see strong growth in the next few years. It will grow to $306.2 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%.
• Driving Factors Behind The Growth Of The Gym Apparel Market
• Gym Wear Crafted From Organic Cotton
• North America was the largest region in the gym apparel market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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