Athleisure Market to hit US$ 793.46 Billion, Globally, by 2028 at 9.9% CAGR: The Insight Partners

The growing millennial population, along with the increasing demand for comfortable and fashionable sportswear, is driving the demand for athleisure in AP

NEW YORK, UNITED STATES, January 24, 2023 /EINPresswire.com/ -- According to the new research report published by The Insight Partners on “Athleisure Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type (Top Wear, Bottom Wear, Footwear, and Others), Category (Men, Women, Unisex, and Kids), Distribution Channel (Supermarkets & Hypermarkets, Specialty Stores, Online Retail, and Others), and Geography,” includes the factors fueling the market growth, revenue estimation and forecast, and market share analysis. It also entails the identification of significant market players and their key developments.

The athleisure market is expected to grow from US$ 411.02 billion in 2021 to US$ 793.46 billion by 2028; it is estimated to grow at a CAGR of 9.9% from 2021 to 2028. Athleisure is a growing fashion trend that represents the fusion of athletic and casual wear, involving comfortable clothing which can also be used as casual wear.

Athleisure Market - Strategic Insights

Report Coverage Details
Market Size Value in US$ 411.02 Billion in 2021
Market Size Value by US$ 793.46 Billion by 2028
Growth rate CAGR of 9.9% from 2021 to 2028
Forecast Period 2021-2028
Base Year 2021
No. of Pages 153
No. of Tables 86
No. of Charts & Figures 83
Historical data available Yes
Segments covered Type, Category, Distribution Channel, and Geography
Regional scope North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country scope US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends

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Based on distribution channel, the athleisure market is segmented into supermarkets & hypermarkets, specialty stores, online retail, and others. In 2020, the supermarkets and hypermarkets segment dominated the market. The online retail segment is expected to register the highest CAGR in the athleisure market. There has been a rapid penetration of e-commerce in developing regions, which expanded the customer base of athleisure manufacturers. Major athleisure brands have created their own websites through which they provide their products to consumers. Consumers are increasingly using e-commerce platforms due to their convenience, ease of use, accessibility to various products, and cost-effectiveness.

The athleisure market is segmented into five main regions—North America, Europe, Asia-Pacific (APAC), the Middle East & Africa (MEA), and South & Central America (SAM). In 2020, North America dominated the global market. The athleisure market growth in this region is ascribed to factors such as increased demand for stylish sportswear, surge in the millennial population, and rise in focus on sports and fitness activities across the region. Furthermore, the growing number of gymnasiums, fitness clubs, yoga centers, and other fitness facilities has propelled the demand for customized hoodies, joggers, shoes, and so on, which contributes to athleisure market growth.

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Impact of COVID-19 Pandemic on Athleisure Market

The COVID-19 pandemic adversely affected the athleisure market due to the shutdown of manufacturing facilities, and restrictions on transportation and logistics. Disruptions in supply chain also hampered the supply of athleisure products. Following the state and regional guidelines, manufacturers had to implement extensive measures to protect the health and safety of their employees. Many of them temporarily closed their operations or restricted the production capacity in early 2020. Also, in the early stages of the crisis, manufacturers were majorly dependent on inventory. Further, amid lockdown periods during the pandemic, the sports and wellness facilities such as gyms were closed, which lowered the demand for athleisure products. However, businesses started recovering since late 2020 as the governments of various countries eased the restrictions imposed earlier in that year. Moreover, successful vaccination drives further eased the current scenario leading to a rise in business activities worldwide, which helped the athleisure market through revival.

The "Global Athleisure Market Analysis to 2028" is a specialized and in-depth study of the consumer goods industry, focusing on the athleisure market trend analysis. The report aims to provide an overview of the market with detailed market segmentation. The athleisure market is segmented on the basis of type, category, distribution channel, and geography. Based on type, the market is segmented into top wear, bottom wear, footwear, and others. Based on category, the athleisure market is segmented into men, women, unisex, and kids. Based on distribution channel, the market is segmented into supermarkets & hypermarkets, specialty stores, online retail, and others. Based on geography, the market is segmented into five main regions—North America, Europe, Asia Pacific (APAC), South & Central America (SCAM), and the Middle East & Africa (MEA). Asia-Pacific is expected to be the fastest-growing segment in the athleisure market followed by North America.

Athleisure Market: Competitive Landscape and Key Developments

Adidas AG; Asics; Athleta LLC; Authentic Brands Group; Columbia Sportswear Company; Hennes and Mauritz AB; Lululemon Athletica; Nike, Inc.; Puma SE; and Under Armour Inc. are among the key players constituting the majority of athleisure market share.

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