The athleisure market is estimated at US$288.864 billion for the year 2019. The major factors that drive the growth of the athleisure market include the rising concerns regarding physical fitness and personal grooming among the young population. Also, the shifting consumer preferences towards comfortable wear combined with fashion, especially at workplaces and social gatherings is also considered to be an important factor which is increasing the use of athleisure and adding up to the market growth in the coming years. Similarly, the growing awareness regarding a healthy lifestyle is leading to the growing adoption of physical fitness services and activities which is also projected to supplement the athleisure market growth. Currently, athleisure is considered as the latest trend of the fashion industry as the combined fashion represents the combination of a healthy enthusiastic appeal along with representing casual wear. It also represents the fashion, fitness and urban culture together, which is also one of the key factors boosting its demand, especially in the developed economies. The adoption of fitness and physical activities along with the adoption of fashionable and comfortable clothing is significantly driving the demand.
In addition, the growing acceptance of casual wear across the corporate sector and the workplaces is also expected to ramp up the athleisure market growth throughout the forecast period. Furthermore, growing investments by gym chains in various developing economies along with the rising availability of cheap and highly advanced physical fitness services such as gyms, aerobics, and Zumba is also anticipated to propel the market growth opportunities in the near future. In addition, the rising trend of Zumba and aerobics, especially among the female population as a part of the daily fitness routine is also likely to push the athleisure market growth during the next five years.
Furthermore, athleisure is also being adopted as the new trend for activewear clothing and a shift towards athleisure clothing in sports along with the booming sports industry coupled with the increasing participation of women in sports are also the factors that are expected to collectively contribute towards the market growth during the forecast period and beyond. Furthermore, the rising investments in the developing countries for uplifting the sports sector along with the growing number of sports events throughout the globe is also anticipated to propel the growth opportunities for the athleisure market to surge in the near future.
Growing sports industry
The number of sports events has been increasing globally as there is increasing investment in the sports industry over the years. Increasing investment in the sports industry especially in developing counties like China, India, and Brazil is expected to widen up the growth opportunities for the athleisure market during the forecast period. In fact, according to the Chinese National Bureau of Statistics total out of the Chinese sports industry was around $295 billion in 2016 which is nearly 11.1 percent growth and in 2017 it reached around $326.3 billion. Moreover, recently there is an increasing involvement of Chinese investors in football and increasing investment by major clubs in the country with the aim of expanding the business is anticipated to boost the market during the forecast period. For instance, in February 2019, English Premier League Football club giant Manchester City announce the acquisition of the Chengdu-based club as part of its strategy of buying football teams across the world. In addition, in India federal government set aside a US$262 million budget for 2018-20 for the play India program. Furthermore, the sports industry in developing countries is attracting record levels of corporate funding due to strong government support in this sector. The government is playing a crucial role in augmenting the sports industry and thereby positively impacting market growth throughout the forecast period and beyond.
Female athleisure clothing to show notable growth
On the basis of gender, the global athleisure market has been classified into male and female. Male clothing is anticipated to hold a notable share owing to the higher participation of males in sports coupled with a higher proportion of the number of sports including males. The market for female athleisure clothing is anticipated to propel at a significant rate throughout the forecast period due to the fact that there is increasing participation of women in fitness and sports along with growing sports events that involve women. All these factors support the growth in this segment in the coming years.
Online distribution channel to grow substantially
On the basis of the distribution channel, the global athleisure market has been classified into online and offline. The online sales are projected to surge substantially over the forecast period as the growing adoption of online distribution channels for purchasing of clothes coupled with growing penetration of online platforms focused particularly on clothes. The offline channel expected to hold a decent share as there is a higher proportion of the population who prefer to buy clothes personally rather than purchasing them online.
North America to rule the market
Geographically, the global athleisure market has been segmented on the basis of North America, South America, Europe, Middle East and Africa, and Asia Pacific. North America is anticipated to hold a significant share in the market on account of high concerns regarding health and fitness. Furthermore, the presence of well-established health and fitness services industry also supports the market growth in the coming years. The Asia Pacific region is expected to show notable growth over the forecast owing to rising concerns of the people towards a healthy lifestyle. Significant growth in the number of gyms and fitness centers also support market growth in the APAC region.
Prominent key market players in the Athleisure market include PUMA SE, ASICS, Adidas AG, The North Face and Colombia Footwear Company among others. These companies hold a noteworthy share in the market on account of their good brand image and product offerings.
Major players in the Athleisure market have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last two years.