Athleisure has been a defining part of 21st century fashion. The trend has come about due to the growing demand for casual clothing that can be worn outside gyms, play areas, and other informal meeting points. Clothing such as t-shirts, trackpants, and tracksuits have become the new casual, with several companies also extending their feelers into developing corporate-based athleisure brands, providing seemingly casual clothing for formal occasions. Several companies have made the youth of the desired demographic a key part of the marketing activity around athleisure, with athleisure clothing being sold as being by and for the youth. These promotional activities have drawn new customers to athleisure brands, as they have come to define “cool” in the ever changing fashion world of today. The growing popular appeal of athleisure clothing is likely to be a major driver for the global athleisure market over the forecast period from 2018 to 2023, according to the latest research report from Market Research Future (MRFR).
The report studies the global Athleisure Market Share comprehensively and presents indicators as to the market’s likely movement in the coming years and how players in the market stand to benefit from the same. The key market drivers affecting the growth of the global athleisure market are profiled in the report in terms of the economic background affecting the global athleisure market. Major restraints holding the market back are also profiled and analyzed in the report. The key players operating in the global athleisure market are also profiled in the report.
The growing demand for new product categories in the athleisure market is likely to be a key driver for the global athleisure market over the forecast period. The importance of comfort in the world of clothing has risen in the last few years, as consumers have become ever more aware of the various brands on offer in the market and the specific drawbacks and advantages of each. This is likely to ensure steady growth of the athleisure market over the forecast period, according to MRFR.
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Competitive Analysis:
Leading players in the global athleisure market include Under Armour Inc., Lululemon athletica, Adidas AG, Nike Inc., H&M, Eysom, Outdoorvoices, Ten Thousand Inc., Isaora, and Human Performance Engineering.
In October 2019, Under Armour revealed their new plan for product development, emphasizing on the company’s commitment to performance clothing above all. This has placed the role of athleisure in the company’s operations under a question mark, as athleisure provides a highly attractive and valuable avenue for the company, which has chosen to ignore it.
Segmentation:
The global athleisure market is segmented on the basis of apparel type, end use, distribution channel, and region.
By apparel type, the global athleisure market is segmented into sneakers, yoga pants, shorts, sports bras, leggings, tights, and joggers, sports jackets, and others.
By end use, the global athleisure market is segmented into men and women.
By distribution channel, the market is segmented into store-based and non-store-based. The store-based segment is further subcategorized as supermarkets and hypermarkets, specialty stores, and others.
Regional Analysis:
North America holds the dominant share in the global athleisure market and is likely to remain the leading revenue generator over the forecast period due to the growing presence of athleisure companies in the region. North America has emerged as a major regional market for athleisure brands, as consumers in the region are highly aware about fashion trends and are also premium buyers, meaning higher priced premium items can also sell at a fairly fast rate in the region. The growing demand among corporate consumers for comfortable clothing is likely to be a major driver for the athleisure market in North America over the forecast period.
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Europe is also a strong regional market for athleisure and houses many of the world’s leading athleisure brands and companies.
Asia Pacific is likely to be crucial to the growth of the global athleisure market over the forecast period due to the growing demand for athleisure clothing among urban consumers.
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These are shoes and apparels designed for athletic activities and sports which are being worn in other settings, such as, school, workplace, social, and other casual occasions.
Athleisure Industry reflects the changing lifestyle more than just a trend in fashion industry, the popularity of which is directly proportional to the busy schedules, health consciousness, and more relaxed dressing standards at the workplaces.
However, the market of yoga pants is expected to increase mainly due to the fact that there has been increasing trend of yoga enthusiast’s in the developed regions of North America & Europe.
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The material used to manufacture these clothing is utmost important hence, cost intensive R been taken up by many market players to come up with more advanced apparels which have higher tensile strength, water repelling, and quick drying ability.
Also, concept of yoga is more profound among women than in men.
