Global Athleisure Market Will Grow at a CAGR of 7% during 2019-2023 | Technavio

Technavio has announced the release of their research report on the global athleisure market for the forecast period 2019-2023. This global athleisure market analysis report segments the market by product (mass athleisure and premium athleisure) and geography (APAC, Europe, MEA, North America, and South America).

Global athleisure market size will grow by USD 122.66 billion at a CAGR of nearly 7%. Polyester fiber is economical and more durable compared to other materials. It absorbs less moisture and dries quickly. Because of this, many athleisure manufacturers are using polyesters and it has become one of the most popular materials used in the industry. For instance, New Balance uses polyester in warm weather wears as well as cold-weather wears. The increased preference toward polyester in athleisure wear is expected to drive the growth of the global athleisure market during the forecast period.

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Increasing adoption of fitness initiatives by corporates

There is a growing popularity of athleisure wear among corporates in countries such as the US and the UK. Many corporate offices are helping their employees to indulge in various fitness activities. This has encouraged employees to wear athleisure wear at work. Also, companies that have incorporated fitness programs in the schedule have reported reduced use of sick leaves. For example, Cisco has a flexible work policy and focuses more on the employees physical wellbeing. This increasing focus on fitness among the working population will drive the growth of the global athleisure market during the forecast period

The North American region is expected to have a healthy growth rate during the forecast period. The rise in celebrity endorsements for athleisure wear is influencing millennials and GenX to adapt to such clothing. The APAC region will grow at a faster rate than the overall market. There is a significant growth in the e-commerce industry in the region, and the presence of adidas, Nike, and other brands will spur the adoption rates. These factors will fuel the market growth, says an analyst at Technavio.

Many athleisure wear manufacturers are partnering with online retailers such as Myntra and Amazon. Leading vendors such as Under Armor and adidas are increasingly targeting younger population across geographies. These brands are offering athleisure wear at lower prices compared to the products offered by the regional vendors. Similar products are also being offered by Nike across regions. The advancements in strategies among many vendors will increase the growth of global athleisure market.

View snapshot of the report for a more detailed overview of the market and the segmentation covered in this report

This global athleisure market industry research report provides an in-depth analysis of the major drivers, upcoming trends, and challenges that will impact market growth over the forecast period. The report analyzes the competitive landscape and offers details on several athleisure manufacturers including –

  • adidas
  • lululemon athletica
  • Nike, Inc.
  • PUMA SE
  • Under Armour, Inc.

Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

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