Overview and Scope
Activewear refers to clothing designed specifically for athletic or fitness activities. This type of clothing is typically made from lightweight, moisture-wicking, and breathable fabrics to provide comfort and support during physical exercise.
Sizing and Forecast
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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Segmentation & Regional Insights
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
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.
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Major Driver Impacting Market Growth
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.
Key Industry Players
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
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