Sustainable Athleisure Market Set to Hit $53.4315 Billion by 2030, Led by Shirt Segment Growth

According to a new report published by Allied Market Research, titled, "Sustainable Athleisure Market Size, Share, Competitive Landscape and Trend Analysis Report, by Type, Demographic and Distribution Channel : Global Opportunity Analysis and Industry Forecast, 2021-2030". The research provides a current evaluation of the global market landscape, highlighting recent trends, key drivers, and the overall market environment. The study examines the main factors influencing industry expansion, analyzing both its growth drivers and restraints. Additionally, it sheds light on factors expected to offer promising opportunities for development of industry in the future. The global sustainable athleisure market size was valued at $17,641.2 million in 2020, and is projected to reach $53,431.5 million by 2030, registering a CAGR of 11.6% from 2021 to 2030.

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The global per capita income has witnessed a strong growth rate over the past few years, particularly in the emerging economies. Increase in urbanization and growth of the middle class consumers in the developing and developed markets have encouraged the adoption of convenience-oriented lifestyles, making sustainable athleisure more desirable for all age group people, especially youngsters. Consumers have become more health conscious due to work-related stress and lifestyle disorders. Working individuals opt for fitness regimes such as swimming, running as well as gym to remain healthy and active in daily life. Majority of the individuals invest their time in performing various fitness activities to keep themselves fit and healthy. This has created a demand for fitness and sustainable athleisure among all age groups, thereby, fostering the sustainable athleisure market growth.

Across the globe, a sustainable increase in demand for popular brands such as Adidas and Nike has been witnessed. These brands are continuously focused on manufacturing eco-friendly sustainable clothing & footwear. Moreover, attractive designs and availability of number of varieties in sustainable clothing have attracted younger generation population.

Furthermore, increase in health awareness among young generation and working class population has further boosted the growth of the market. In addition, more people opting for physical activities such as swimming, cycling, running, yoga, gymnastic, mountain climbing, and snowboarding in developing countries such as China, India, Japan, and Australia has further augmented the growth of the market.

However, sustainable athleisure products require proper designing and combination of various fabrics such as polyester, nylon, polypropylene, spandex, neoprene, and others, such as texture, design, look, and fashion attributes of athleisure apparels require systematic processing and designing of raw materials. Similarly, fluctuations commodity market, natural calamities effect on the raw material sources, fluctuations in global economies, and others are some of the key factors that affect the price of raw materials. Thus, these products are priced high, resulting in low sales. Thus, high costs of raw material designing of this product hamper the overall sustainable athleisure market trends.

In the past few years, a considerable increase in the number of women participating in sports and fitness events has been witnessed. Women professionals have become conscious about their health, so they opt for fitness programs such as yoga or Zumba, and visit fitness centers. Nowadays, women prefer wearing sports apparel daily, which results in the growth of the sustainable athleisure market. Numerous companies launch products in vibrant colors, which offer enhanced comfort, thereby increase their popularity among women.

The key players operating in the sustainable athleisure industry Adidas AG (Adidas), Eileen Fisher,Inc., Hanesbrands Inc., PUMA SE, Nike, Inc., Pangaia, Under Armour, Inc., Patagonia, Inc., Wear Pact, LLC and Vuori, Inc.

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The sustainable athleisure market is experiencing growth driven by several factors, including an increase in disposable income and a growing focus on health among sports enthusiasts. Future rapid growth is anticipated, especially in developing countries in the Asia-Pacific region. Countries like China and India are witnessing active participation in sports and fitness activities, attributed to the rise in the affluent population. The market is further boosted by the increasing involvement of women in sports, prompting numerous market players to introduce a variety of sustainable athleisure products for the women's segment. Despite this, the men's segment holds the largest market share globally, primarily due to the heightened participation of men in sports and games. However, the market faces a significant challenge in the form of counterfeit and duplicate products, acting as a major restraint.

The sustainable athleisure market is segmented into type, demographic, distribution channel, and region. By type, the market is bifurcated into shirt, yoga pants, leggings, shorts, and others. By demographic, it is categorized into men and women. On the basis of distribution channel, it is classified into hypermarket/supermarket, specialty stores, online sales channel, and others. Region wise, it is analyzed across North America (U.S., Canada, and Mexico), Europe (UK, Germany, Russia, France, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, India, Australia & New Zealand, South Korea, and Rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Turkey, Saudi Arabia, and rest of LAMEA).

Analyst Review

Innovation is the key for the growth of the global sustainable athleisure market in terms of value sales. The rise in demand for various sustainable athleisure among the target customer makes way for the manufacturers to come up with athleisure comprising of recycled clothes.

The factors that drive the growth of the sustainable athleisure market include increase in disposable income and growth in health concerns among sports enthusiasts. The developing countries in Asia-Pacific are expected to exhibit rapid growth in the future. In countries such as China and India, consumers actively participate in sports and fitness activities, owing to rise in the affluent population in the region. Moreover, rise in participation of women in sports further fuels the market growth. Numerous market players have launched a variety of sustainable athleisure for the women segment. The men segment accounts for the largest market share in the global sustainable athleisure market due to increased participation of men in sports and games. Availability of duplicate and counterfeit products acts as the major restraint for the sustainable athleisure market.

Key Findings of the Study:

○ On the basis of type, the shirt segment dominates the sustainable athleisure market in 2020, and is expected to retain its dominance throughout the sustainable athleisure market forecast period.
○ Depending on demographic, the men segment accounted for highest sustainable athleisure market share in 2020, and is projected to grow at a CAGR of 11.0% from 2021 to 2030.
○ By distribution channel, the hypermarket/supermarket segment was the major shareholder in 2020, and is projected to register a CAGR of 9.6% from 2021 to 2030.
○ Region wise, North America dominates the market in 2020, and is expected to retain its dominance throughout the forecast period.

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