Athleisure Market Scope 2019 to 2023, Industry Challenges, Key Vendors, Drivers, Trends and Gross Margin by Forecast
Athleisure is a trending choice in the fashion and sports apparel industry. It is a mix of sports apparels which can also be used on a day-to-day basis. 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. Major market drivers include increased disposable income and stylish appeal of the apparels.
Based on the apparel type, the market of athleisure has been divided into sneakers, yoga pants, shorts, sports bras, leggings, tights & joggers, sports jackets, and others. The market is dominated by leggings and jackets as they are worn in most of the activities by women and can also be casually work every day. 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. Jackets are another apparel type which are high in demand due to their multipurpose use.
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The material used to manufacture these clothing is utmost important hence, cost intensive R&D 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.
The market of athleisure has been divided on the basis of end-use into men and women. The market is dominated by female customers due increasing popularity among women for sports apparel. Also, concept of yoga is more profound among women than in men. Men, on the other hand are expected to increase their purchase of athleisure apparels due to the product technical advancements and sense of uniqueness.
According to distribution channel, the market for athleisure has been divided into store-based and non-store-based. The store-based segment which is expected to dominate the athleisure market mainly because of the advantage of touch and feel, which is not the case with online retail. However, online retail for the industry is expected to outplay brick and mortar retail in the coming years due to competitive pricing and buying convenience.
Moreover, non-store-based segment which is online shopping, is expected to grow fastest due increasing smart phone and internet penetration in the developing regions. Increasing disposable income is expected to further help the market growth during the forecast period.
- Under Armour Inc. (US)
- Lululemon Athletica (Canada)
- Adidas AG (Germany)
- Nike Inc. (US)
- H&M (Switzerland)
- Eysom (US)
- Outdoorvoices (US)
- Ten Thousand Inc. (US)
- Isaora (US)
- Human Performance Engineering (UK)
By apparel type the market is segmented into sneakers, yoga pants, shorts, sports bra, leggings, sports jackets, and others.
By end-use the market is segmented into men and women.
The global athleisure market has been classified on the basis of distribution channel into store-based and non-store-based.
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The global athleisure market has been regionally segmented into North America, Europe, Asia-Pacific, and Rest of the World.
North America is expected to dominate due to higher product awareness and high demand of smart sports apparels and activewear in the region. Europe also has a very high market potential with many millennials and baby boomers opting for trendy sportswear. However, market for Asia-Pacific is expected to propel with the fastest growth rate during the forecast period. Large population size and increasing disposable income in the region are expected to fuel the market of athleisure during the forecast period. Other factors helping the market in the region includes growing awareness related to smart fabrics and increasing participation into sports and gym activities.
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