Market Overview:

Global Athleisure Market was valued at $ 300 billion in 2018 and is expected to develop with a considerable CAGR in the coming years.

Athleisure is a fashion trend of wearing casual and comfortable clothing that can be worn for both exercise and normal day wear. Leggings, hoodies, denim jackets, canvas sneakers, and cotton caps are some examples of athletics. Athleisure entered the fashion industry to innovate something new on the market. The growing popularity of fitness has led many sports brands to improvise clothing for athletic performance, as well as for a leisure lifestyle. Giant sports brands have started to become sportswear brands. According to Business Insider, in 2017, growth in the retail sector was stable as athletics sales increased 12%.

Recent Developments:

Department store chain Kohl's (NYSE: KSS) announced its entry into the burgeoning sportswear market, dominated primarily by lululemon athletica (NASDAQ: LULU). Kohl's private label, called FLX, will be available online and in select stores starting in March 2021.

Market Drivers and Restraints:

Fashion sports products have seen an increase in demand, due to an increase in the adoption of clothing by women. Also, the evolution of women's participation in physical activity is one of the main factors driving the demand for sports recreation products. An increase in the number of female fitness models, athletes and others has developed a holistic consumer approach to sport and fitness. In addition, the current trend towards healthy aging has been growing in popularity among the geriatric population. The need for performance-enhancing fitness products is expected to increase among the geriatric population, due to the increased health and fitness associated with aging. This factor increases athletic demand among older consumers, due to the performance-enhancing characteristics of active wear, such as better grip, wick, and backing. Therefore, an increase in customer participation triggers the demand for sports products.

Impact of COVID-19:

In a matter of days, everyday office wear changed from traditional workwear to sportswear. That is if people remove their pajamas when the coronavirus stops and forces everyone to work from home. Athleisure quickly became the go-to place from day to night - great for Zoom gatherings during the day but works well for the afternoon sourdough bread / Netflix frenzy! Of course, yoga pants and wool clothing are also suitable for those who are inspired enough to exercise. And athletics is one of the things consumers really want, according to a survey by J.P. Morgan on stimulus spending. The Wall Street Journal writes that 24% of respondents chose athletic / sportswear as one of the top three categories they intended to spend their stimulus checks on in early spring.

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Report is segmented as:

By Product Type

Sneaker
Joggers
Leggings
Hoodies
Others
Among these subsegments, the apparel segment represents a higher value in the market share. Sportswear is gaining popularity among its target customers, which is mainly due to its aesthetic and comfort factors. This has led to a gradual increase in the trend to wear sportswear to social gatherings or even what is considered casual wear.

By Gender

Male
Female
Among these, the male segment represents a higher value share. When it comes to clothing, men are looking for clothing that is comfortable for them and at the same time beautiful as a whole. Athleisure product offerings and features meet these requirements.

By Distribution Channel

Online 
Offline 
Geographical segmentation:

Based on geography, the global athleisure market is segregated into regions of Asia Pacific, Latin America, North America, Europe, the Middle East and Africa. Among these, North America was the largest market, with a share of more than 30.0% in 2018 due to the presence of a large population dedicated to the fashion industry. In addition, a large number of fashion events promote sports fashion in the region. Each year, 25 fashion shows are held in the US. These factors are expected to promote the usefulness of sports products in the near future.

Key market players:

The global market is moderately fragmented in nature owing to presence of a large number of strong foreign players including Lululemon Athletica, Inc.; Adidas AG; TPUMA SE; Nike, Inc.; and Under Armour, Inc. Moreover, new entrants and domestic manufacturers including TEREZ and Esprit Retail B.V. & Co. KG are capturing a significant share of market at competitive pricing.

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Scope of the report:

The report offers a comprehensive examination of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in influencing the market dynamics and trends discussed in detail at the product level. Further, the performance of the market at the regional and country-level had assessed and the prospects with huge growth potential identified and debated.

The key players in the industry are profiled giving insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategically activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry had provided. The report also provides a broad outlook of the current market along with recommendations from industry experts on the opportunities for investment activity.

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