Athleisure Market is anticipated to grow at a CAGR 6.2% from 2019 to 2030.
Market Industry Reports (MIR) has published a new report titled “Athleisure Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the global athleisure market is estimated to be over US$ 164.8 billion in 2019. It is anticipated to grow at a CAGR 6.2% from 2019 to 2030.
The significant growth of the market can be attributed to increasing involvement of developing nations into sports and fitness activities. Also, increasing disposable income and active brand promotions has led to the popularity and increased market sales which has led the growth of the athleisure market over the forecast period. Extensive research and development by major companies across the globe to introduce athleisure technology with maximum safety and precision is expected to contribute to market expansion. The collaborations between leading sportswear brands and fashion designers is nothing new. In 2019, many sports brands and known fashion designers are working jointly such as Nike x Matthew Williams, Veilance, Satisfy, and Lululemon x Robert Geller that has promoted to the growth of the market.
Athleisure is the fastest growing category in fashion industry, increasing wellness aspirations and celebrity endorsement on social media add impetus to the growth of this market. Wellness is the new status symbol, and increasing numbers of consumers are showcasing their healthy lifestyles on social media, posting photos of themselves wearing athleisure apparel and consumers prefer premium fashion choices that are both comfortable and stylish. In addition, increasing popularity of yoga globally along with enhancement of fashion trends and demand for high-tech materials and unique stitching is expected to propel the growth of the athleisure market.
Athleisure is a best combination of casual style with sports appeal, it brings together fashion cultures, active wear and urban lifestyle. Increasing acceptance of comfortable casual wear in workplaces and corporates such as sweat pants, wollen pants, and sneakers are likely to drive the growth of market. In Addition, rising availability of gyms and fitness centers in workplace motivates the employees to adopt the new athleisure product. This in turn aids the substantial growth of the athleisure market.
Browse key industry insights spread across 160 pages with market data tables & figures & charts from the report, Athleisure Market by Product Type (Sneaker, Joggers, Leggings, Hoodies, Others), Distribution Channel (Online and Offline), End Users (Hospitals, Dermatology Clinics and Medical Spas) - Global Analysis & Forecast 2019-2030 in detail along with the table of contents:https://www.marketindustryreports.com/athleisure-market/205
Athleisure market is more about demanding quality and performance in every setting. Companies such as H&M have already found it difficult to avoid inventory crunch because their entire business model revolves around selling low-margin items at high volumes. Moreover, domestic manufacturer’s practices use of harmful chemicals in athleisure wear which causes illness to users. These are the factors is expected to restrain the growth of the athleisure market.
North America is estimated to account for the highest CAGR in athleisure market over forecast period. The presence of major market players, higher awareness of products and greater purchasing capacity in the region which creates lucrative opportunity for growth of the market in this region. For instance, in Asia Pacific, increasing brand awareness mainly due to the celebrity brand endorsements of products and increasing population involvement into health and fitness related activities are some of the factors for market growth.
The prominent players in the global athleisure market are Nike, Inc., Adidas AG, PUMA SE, The Gap, Inc., Under Armour, Inc., H&M, Columbia Sportswear Company, Lululemon athletica inc., PVH Corp., The North Face (VF Corporation (VFC)) ,Aamong others.
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