Activewear Market, 2024report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size – The activewear market size has grown strongly in recent years. It will grow from $339.29 billion in 2023 to $362.17 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to fitness and health awareness, the athleisure trend, celebrity endorsements and influencer culture, technological innovations, and e-commerce growth.
The activewear market size is expected to see strong growth in the next few years. It will grow to $474.1 billion in 2028 at a compound annual growth rate (CAGR) of 7%. The growth in the forecast period can be attributed to sustainability and ethical practices, digitalization and personalization, emerging markets, health and wellness trends, and innovation in performance wear. Major trends in the forecast period include the rise of direct-to-consumer (DTC) brands, a focus on inclusivity and diversity, the expansion of sustainable product lines, the integration of augmented reality (AR) and virtual reality (VR), health monitoring, and fitness tracking.
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Scope Of Activewear MarketThe Business Research Company’s reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Activewear Market Overview
Market Drivers –The rise in recreational activities is expected to propel the growth of the activewear market. Recreational activities refer to a wide range of leisure-time pursuits engaged in for enjoyment, amusement, and pleasure. These activities can include sports, games, hobbies, exercise, reading, watching TV, movies, and more. The rise in recreational activities is driven by increasing awareness of the importance of physical fitness and a growing desire for leisure pursuits to alleviate stress and improve overall well-being. Activewear regulates body temperature by allowing heat to escape and prevent overheating. Breathable fabrics allow air circulation, keeping cool during intense workouts or hot weather conditions. This helps prevent chafing, discomfort, and irritation, allowing one to focus more on activity. For instance, in June 2023, according to the Outdoor Participation Trend report by the Outdoor Industry Association (OIA), a US-based non-profit organization, the outdoor recreation participant base increased by 2.3% in 2022 to a record 168.1 million participants compared to 164.2 million in 2021, representing 55% of the U.S. population aged six and older. Therefore, the rise in recreational activities is expected to propel the growth of the activewear market.
Market Trends – Companies in the activewear market are increasing their attention on sustainability and environmental responsibility products, such as the lightest emission sneakers. Lightest emissions sneakers are athletic footwear products designed to minimize carbon emissions throughout their lifecycle, appealing to environmentally conscious consumers seeking sustainable options. For instance, in September 2023, ASICS Corporation., a Japan-based sportswear manufacturer, launched the GEL-LYTE III CM 1.95 sneaker, which emits only 1.95kg of CO2 per pair, making it the lightest CO2 emissions sneaker on the market. This innovative shoe features carbon-negative foam in the midsole and sock liner, a material partially derived from sugarcane, and solution-dyed polyester, all contributing to its sustainability. Additionally, the sneaker incorporates a new structure using tape to reduce material usage and waste, ensuring underfoot comfort and a supportive fit for daily activities.
The activewear market covered in this report is segmented –
1) By Product: Apparel, Footwear, Accessories
2) By Fabric: Polyester, Nylon, Neoprene, Polypropylene, Spandex, Cotton, Other Fabrics
3) By Usage: Running, Outdoor Sports, Yoga And Pilates, Gym And Fitness Training, Recreational Activities, Other Usages
4) By Distribution Channel: Offline, Online
5) By End User: Men, Women, Kids
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Regional Insights – North America was the largest region in the activewear market in 2023. The regions covered in the activewear market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies – Major companies operating in the activewear market are Nike Inc., Adidas AG, Decathlon Group, The Gap Inc., Kappa, VF Corporation, Puma SE, Anta Sports Products Limited, Lululemon Athletica Inc., Skechers USA Inc., Ralph Lauren Corporation, Hanesbrands Inc., Under Armour Inc., New Balance Athletics Inc., Li Ning Company Limited, ASICS Corporation, Columbia Sportswear Company, Deckers Outdoor Corp., Fila Holdings Corp., Wolverine World Wide Inc., Mizuno Corporation, Brooks Sports Inc., Iconix International, Reebok International Limited, Patagonia Inc., Karhu Holding BV, Umbro International Limited
Table of Contents 1. Executive Summary2. Activewear Market Report Structure3. Activewear Market Trends And Strategies4. Activewear Market – Macro Economic Scenario5. Activewear Market Size And Growth…..27. Activewear Market Competitor Landscape And Company Profiles28. Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
- Appendix
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