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Activewear Market Global Industry Historical Background, Industry Structure, Development, Demographics, Developing Factors
Market Size and Growth
In 2022, the global activewear market was valued at US$ 412.3 Bn. It is projected to grow at a CAGR of 6.3% from 2023 to 2031 to reach US$ 714.0 Bn by the end of 2031.
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Market Drivers and Challenges
Drivers:
• Health and Wellness Trends: A growing global focus on health and fitness is leading to increased participation in physical activities, thereby boosting demand for activewear.
• Athleisure Movement: The blurring lines between athletic and casual wear have popularized athleisure, making activewear suitable for various occasions beyond workouts.
• Technological Advancements: Innovations in fabric technology, such as moisture-wicking, breathable, and eco-friendly materials, enhance product appeal.
• E-commerce Expansion: The growth of online retail platforms has made activewear more accessible to a global audience.
Challenges:
• Market Saturation: High competition and market saturation in developed regions may hinder growth.
• Price Sensitivity: Consumers seeking affordable options challenge premium brands to balance quality and cost.
• Supply Chain Disruptions: Global supply chain issues can impact the production and distribution of activewear products.
Market Trends
• Sustainability: Consumers are increasingly favoring eco-friendly activewear made from recycled or organic materials.
• Smart Wearables Integration: The incorporation of health-monitoring technologies into activewear is gaining traction.
• Customization and Personalization: Brands are offering personalized activewear options to cater to individual preferences.
• Subscription Models: Subscription-based services for activewear are emerging, providing consumers with regular product updates and convenience.
Competitive Landscape
• Adidas Group
• ASICS Corporation
• Columbia Sportswear Company
• Gap Inc.
• KORAL LLC
• Nike, Inc.
• PUMA SE
• SKECHERS USA, Inc.
• Under Armour Performance
• VIE ACTIVE
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Future Outlook
The activewear market is poised for continued growth through 2031, driven by:
• Innovation in Fabric Technology: Developments in smart textiles and sustainable materials will enhance product offerings.
• Expansion in Emerging Markets: Rising disposable incomes and increasing health awareness in regions like Asia-Pacific and Latin America present growth opportunities.
• Digital Transformation: The integration of digital technologies in marketing and sales strategies will further engage consumers.
Key Market Study Points
• Market Size and Forecast: Understanding the current market size and projected growth through 2031.
• Consumer Behavior Analysis: Insights into consumer preferences, purchasing patterns, and brand loyalty.
• Technological Innovations: Assessment of advancements in fabric technology and their impact on product development.
• Competitive Analysis: Evaluation of key players, market share, and strategic initiatives.
• Regulatory Environment: Examination of regulations affecting manufacturing, sustainability, and trade.
Market Segmentation
By Product Type:
• Apparel (e.g., T-shirts, leggings, jackets)
• Footwear (e.g., running shoes, training shoes)
• Accessories (e.g., headbands, bags)
By Fabric:
• Polyester
• Nylon
• Spandex
• Cotton
• Others
By Gender:
• Men
• Women
• Kids
By Distribution Channel:
• Offline (e.g., specialty stores, supermarkets)
• Online (e.g., brand websites, e-commerce platforms)
By Region:
• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa
Regional Analysis
• North America: Dominates the market due to high health consciousness and the presence of major brands.
• Europe: Experiences steady growth with increasing demand for sustainable activewear.
• Asia-Pacific: Expected to witness significant growth owing to rising disposable incomes and expanding urban populations.
• Latin America and Middle East & Africa: Emerging markets with potential for growth as health and fitness trends gain traction.
Recent Developments
• In August 2024, Primark collaborated with Kappa to launch a 30-piece activewear collection targeting both sports and everyday wear.
• In September 2023, Campus Activewear introduced "Air Turbo" technology in its Nitroboost range, enhancing footwear comfort for Indian consumers
• In May 2023, Indian entrepreneurs launched "Good Indian," an activewear brand offering products through its online store.
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