AI Impact on Athleisure Market growth, set to increase by USD 176.3 billion from 2024-2028, Growing prominence of online shopping to boost the revenue, Technavio

NEW YORK, Aug. 22, 2024 /PRNewswire/ -- The global athleisure market  size is estimated to grow by USD 176.3 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  6.79%  during the forecast period.  Growing prominence of online shopping is driving market growth, with a trend towards rising popularity of denim athleisure. However, increasing competition from unorganized sector  poses a challenge. Key market players include Adidas AG, ALALA, ALO LLC, American Eagle Outfitters Inc, Carbon38 Inc., Columbia Sportswear Co., EYSOM LLC, The Gap Inc., H and M Hennes and Mauritz GBC AB, lululemon athletica Inc., Michi Design Inc., New Balance Athletics Inc., Nike Inc., Outdoor Voices Inc., P.E Nation International, PUMA SE, Rhone Apparel Inc, Sweaty Betty Ltd., Under Armour Inc., and VF Corp..

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Key Market Trends Fueling Growth

The denim athleisure trend is gaining significant traction in the global market, with major denim manufacturers incorporating athletic designs into their traditional jeans. For instance, Levi Strauss introduced stretch jeans in 2020 and established a research lab to explore new methods for producing flexible denim. This innovation has inspired other premium denim brands to follow suit, leading to collaborations and partnerships among manufacturers. For example, Santoni, LENZING, Tonello, and Unitin collaborated on the den/IM TECH capsule project, resulting in the creation of the I am Denim athleisure collection. This development has sparked a surge in demand for stretchable jeans that offer an athleisure appearance. Several manufacturers, including AEO Management, now produce jeans based on the desired level of stretch for customers. The increasing popularity of denim athleisure is a significant trend anticipated to fuel the expansion of the global athleisure market during the forecast period. 

The athleisure market is experiencing significant growth due to the increasing trend of comfort and style in everyday life. Brands are focusing on building strong identities through unique designs and copyrights to differentiate themselves in the mass market. Synthetic fibers and innovative materials are popular choices for athletic-casual clothing, catering to the health-conscious young population. Wellness and luxury fashion are merging, giving rise to streetwear athleisure. Brands like Lululemon, Sweaty Betty, Perfect Moment, and Olympia Activewear lead the way. The supply chain is being optimized with customized apparel and professional guidance for customers. Celebrity collaborations and influencer marketing are driving sales through offline channels. Digital innovation and rapid globalization are shaping the future of athleisure. The yoga landscape, with its growing number of studios, gyms, health clubs, and online platforms, is a major contributor to the market. With the rise of lifestyle diseases and lockdown measures, the demand for comfortable, fashionable clothes continues to soar. The market for activewear products is expected to reach new heights, prioritizing customer satisfaction and tailored gear for various activities like triathlon. 

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Market Challenges

• The global athleisure market faces challenges due to the rise of local and unorganized vendors. These vendors offer cost-effective products, attracting price-sensitive consumers and occupying shelf space from established brands. The market's fragmentation, with a multitude of local, regional, and international players, impedes growth. Low entry barriers increase buyer bargaining power, and intense price competition hampers revenue generation for major vendors. This situation may hinder the growth of the global athleisure market during the forecast period.
• The athleisure market is thriving due to the young population's health consciousness and preference for comfortable, fashionable clothes. The yoga landscape, with its numerous studios, gyms, and health clubs, drives the demand for athleisure gear. The lockdown measures have shifted consumer behavior towards online platforms for purchasing activewear products. Major companies like Athleta, Old Navy, and FLX offer tailored gear and professional advice to ensure customer satisfaction. Sustainability is a key trend, with smart fabrics, moisture-wicking properties, temperature regulation, and antibacterial features gaining popularity. New technologies like sensors and wearable technology are enhancing the market positions of these brands. Platinum Equity's acquisition of major companies underscores the market's potential. Regulations on product safety, quality, compliance, trademarks, and intellectual property are crucial for maintaining market positions and product portfolios. Team uniforms, offfield performance apparel, and fan merchandise are additional growth areas.

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Segment Overview 

This athleisure market report extensively covers market segmentation by

1. Product 
• 1.1 Mass athleisure
• 1.2 Premium athleisure
2. Distribution Channel
• 2.1 Online
• 2.2 Offline
3. Geography 
• 3.1 North America
• 3.2 Europe
• 3.3 APAC
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Mass athleisure-  The athleisure market is experiencing significant growth due to the increasing demand from millennials worldwide. Major purchase categories are footwear and bottom wear, primarily driven by female buyers. Consumers are switching to comfortable and presentable clothing for work from home, shopping, and social media. Leading brands like adidas and Under Armour target young populations with affordable prices, such as Under Armour's USD37-USD114 range and Nike's USD55-USD85 range. New players entering the market in various regions contribute to the segment's growth. Offline distribution through department stores and hypermarkets, like Tesco, Walmart, and Target, is popular. Promotional strategies include product trials, signages, and discounts. Specialty stores offer a wide assortment, increasing sales and vendor visibility. These factors are expected to drive the growth of the mass athleisure segment.

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Research Analysis

The athleisure market is experiencing a significant surge in popularity among the young population, driven by their health consciousness and desire for comfortable, fashionable clothes. The yoga landscape, with its growing number of studios, gyms, and health clubs, is a major contributor to this trend. With the increasing availability of yoga lessons, both in-person and online, the demand for athleisure gear has reached new heights. The mass athleisure market is characterized by a wide range of activewear products, from basic to high-end, catering to various customer preferences. Brands are focusing on tailored gear, innovative designs, and differentiation to establish a strong brand identity. Copyrights and substitutes are becoming important considerations in the market, with brands investing in research and development to stay ahead. The supply chain is a critical aspect of the athleisure market, with synthetic fibers and wellness being key factors. Luxury fashion and streetwear athleisure are also gaining traction, offering consumers a blend of style and functionality. Despite lockdown measures, the market continues to thrive on online platforms, demonstrating its resilience and adaptability.

Market Research Overview

The athleisure market is experiencing significant growth due to the young population's increasing health consciousness and desire for comfortable, fashionable clothes. This trend is particularly prominent in the yoga landscape, with yoga studios, gyms, and health clubs offering yoga lessons and activewear products. The market has been boosted by lockdown measures, driving a shift to online platforms for purchasing athleisure gear. New technologies such as smart fabrics, moisture-wicking properties, temperature regulation, and antibacterial features are becoming increasingly popular. Brands are differentiating themselves through innovation, sustainability, and tailored gear, with major companies like Athleta, Old Navy, and Lululemon leading the way. The market positions of these companies are shaped by their product portfolios, new technologies, distribution channels, and brand identity. Substitutes like loungewear, pajama sets, and team uniforms are also impacting the market. Regulations, product safety, quality, compliance, trademarks, intellectual property, and brand identity are crucial considerations for companies. The mass athleisure market includes athletic casual clothing, synthetic fibers, and wellness trends. Luxury fashion and streetwear athleisure are also gaining popularity. Comfort and style remain key drivers, with brands offering customized apparel, professional guidance, and celebrity collaborations. Digital innovation and rapid globalization are shaping the future of the athleisure market. The athleisure market is not limited to on-field performance and team uniforms but also includes fan apparel and off-field performance. The market is expected to continue growing as lifestyle diseases become more prevalent, and yoga enthusiasts and women's athleisure continue to drive demand. Brands like Sweaty Betty, FLX, Perfect Moment, and Olympia Activewear are also making their mark in the market. In summary, the athleisure market is a dynamic and growing industry driven by health consciousness, comfort, style, and innovation. Companies are differentiating themselves through sustainability, technology, and customization, while regulations, quality, and brand identity remain crucial considerations. The market is expected to continue growing as consumers seek comfortable, fashionable, and functional clothing for their active lifestyles.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Product
• Mass Athleisure
• Premium Athleisure
• Distribution Channel
• Online
• Offline
• Geography
• North America
• Europe
• APAC
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

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SOURCE Technavio