Athleisure Market Growing at 8% CAGR to Hit USD 3.2 Billion by 2032 | Growth, Share Analysis, Company Profiles

According to a new report published by Allied Market Research, titled, "Athleisure Market," The Athleisure Market Size was valued at $2 billion in 2022, and is estimated to reach $3.2 billion by 2032, growing at a CAGR of 5.2% from 2023 to 2032. In 2023, the female segment occupied the largest market share as they are one of the most frequent purchasers and adorners of athleisure wear and apparel.

Clothing made for both athletic activity as well as casual, everyday wear is included in the athleisure market, a subset of the fashion and apparel sector. The term "athleisure," a combination of the words "athletic" and "leisure," has been more popular over the past ten years as a result of a growing emphasis on health and wellbeing, shifting lifestyle choices, and the blending of exercise and fashion. Fitness enthusiasts, people who are active, customers who are fashion-conscious, and those looking for comfortable, functional apparel for daily activities have all found a home in the athleisure industry. The distinctions between conventional athletics and casual clothing have become less distinct as a result of the Athleisure Market Trends, which has altered not just the garment sector but also how consumers think about fashion and style.

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Innovative marketing strategies are being used by the athleisure industry to promote their goods, which is boosting market penetration rates internationally with rising Athleisure Market Demand. Some of the primary tactics to increase the sales of athleisure items include launching advertising campaigns, sponsoring sporting events and contests, and sponsoring athletes' attire. More significantly, it is projected that the endorsement of goods by well-known athletes and celebrities would open up lucrative development potential. Additionally, because to social media's large user base, the paradigm for athleisure advertising and marketing is evolving away from television and other conventional techniques and toward internet advertising. Sales are predicted to increase as a result of social media promotion.

Female segment accounted for the majority market share of the athleisure market, and the male segment is expected to grow with the highest CAGR during the forecast period, as among the male population, some of the athleisure apparels such as bomber jackets, casual trousers, crew-neck sweaters, polo-shirts, and others, have been gaining higher traction in the couple of years. Sneakers segment held the highest market share in 2022 while the hoodies segment is expected to have the highest Athleisure Market Growth during the forecast period as customers have a holistic approach on buying hoodies for themselves, since there are varieties of hoodies available in the market. In 2022, offline channels were the most popular modes of purchase for athleisure; however, the sale of athleisure through online sales channels is expected to grow significantly in the future due to the ease of purchase and a greater variety of products available through the channels.

According to region, North America held the largest share of the market in terms of revenue in 2022, which represented a significant share of the global athleisure market revenue and Asia-Pacific is expected to experience the fastest growth from 2022 to 2031, as there is an increase in the adoption of several different types of athleisure product by consumers in the region.

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Key findings of the study

In 2022, based on product type, the sneaker segment accounted for around higher value athleisure market share.
In 2022, based on gender, the male segment accounted for 6.2% share of the athleisure market.
In 2022, based on distribution channel, the offline segment accounted for the highest share of the athleisure market.
In 2022, based on region, North America accounted for a prominent market share and is anticipated to grow at a CAGR of 6.2% throughout the athleisure market forecast.

The key players operating in the Athleisure Market Analysis include-
Adidas AG

ASICS Corporation

Columbia Sportswear Company

PVH Corp.

Puma SE

VF Corporation

The Gap, Inc.

Nike, Inc.

Under Armour, Inc.

Lululemon Athletica Inc.

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Read More https://www.prnewswire.com/news-releases/athleisure-market-to-reach-3-2-billion-globally-by-2032-at-5-2-cagr-allied-market-research-301921840.html

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