By 2034, the global active wear market size is expected to soar to a staggering US$ 917,959.7 million, with a projected Compound Annual Growth Rate (CAGR) of 5.9%. Current estimates indicate a robust expansion trajectory for the market until 2034. As of 2024, the active wear market is already valued at an impressive US$ 517,444.8 million, showcasing significant growth potential in the coming years. With a consistent rise in consumer interest towards fitness and athleisure trends, the active wear industry is poised to continue its upward trajectory, presenting lucrative opportunities for manufacturers and retailers alike.
The e retailing channel is revising the context of purchase behaviours for people as a consequence it brings quick purchases in the paradigm, easy payment modes, large variety of product that can be delivered to their doorsteps with more offers resulting ultimately in development of active wear market during pandemic era and action its growth rate during post-pandemic epoch.
The specific advantages that come with the product in question, such as quick- drying nature, temperature resistance, breathability factor among others are among other major contributors to the rise of active wear.
The rise in people adopting active lifestyles is positively impacting the market because it makes it move forward and keeps growing Some of the many factors that help the active wear market growth include numerous advantages provided by active wear over conventional clothing, e.g., quick drying, thermal resistance, breathability, chemical resistance to stains and wrinkles regardless of fiber type used or moisture absorption of towels.
As a result of high design costs & volatile raw material costs, the active wear market is likely to face challenges related to a declining number of price-sensitive consumers in the forecast period of 2024-2034.
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Business Growth Drivers:
- Health and Wellness Trends: Increasing awareness of the importance of leading an active lifestyle and maintaining physical fitness has propelled the demand for active wear. Consumers are more conscious about their health, leading to a surge in gym memberships, fitness classes, and outdoor activities, all of which require appropriate clothing.
- Fashion and Style: The fusion of fashion and function has contributed to the popularity of active wear. The emergence of athleisure, which blurs the line between activewear and casual wear, has expanded the market beyond just sports enthusiasts to everyday consumers seeking comfortable yet stylish clothing.
- Celebrity Endorsements and Influencer Marketing: Endorsements by athletes, celebrities, and social media influencers have played a significant role in promoting active wear brands. Their influence on consumer preferences and purchasing decisions has led to increased brand visibility and sales.
- Technological Advancements: Innovations in fabric technology have improved the performance and comfort of active wear. Moisture-wicking, breathable, and quick-drying materials enhance the functionality of clothing, making them suitable for various activities and weather conditions.
- E-commerce and Digitalization: The rise of e-commerce platforms has made active wear more accessible to consumers worldwide. Online retail channels offer convenience, a wide range of options, and personalized shopping experiences, driving sales growth for active wear brands.
- Rise of Sustainable and Ethical Practices: Consumers are increasingly concerned about the environmental and social impact of their purchases. Brands that prioritize sustainability, use eco-friendly materials, and adopt ethical manufacturing practices are gaining traction in the market.
Industry Restraints:
- Competition and Saturation: The active wear market is highly competitive, with numerous established brands and new entrants vying for market share. Saturation in certain segments of the market can lead to price wars and margin pressures.
- Supply Chain Disruptions: Disruptions in the global supply chain, such as raw material shortages, transportation bottlenecks, or geopolitical tensions, can impact production schedules, increase costs, and hinder the availability of products.
- Consumer Sentiment and Economic Uncertainty: Economic downturns or uncertain consumer sentiment can dampen discretionary spending on non-essential items like activewear. Fluctuations in disposable income and purchasing power may affect consumer demand and overall market growth.
- Quality and Performance Concerns: With the proliferation of active wear brands, maintaining product quality and performance standards is crucial. Negative experiences related to durability, fit, or functionality can damage brand reputation and lead to customer churn.
- Regulatory Compliance and Standards: Compliance with industry regulations and standards, particularly regarding safety, labeling, and environmental practices, can pose challenges for active wear manufacturers. Non-compliance may result in fines, recalls, or reputational damage.
- Changing Consumer Preferences: Shifts in consumer preferences, fashion trends, or lifestyle choices can influence demand for specific types of active wear. Brands must stay attuned to evolving consumer needs and preferences to remain competitive in the market.
KEY TAKEAWAYS:
- The active wear market is predicted to develop at a CAGR of 6.4% in the wireless local area network (WLAN) controller’s section of the solution category.
- The CAGR for the outdoor segment of the location type category in active wear market is estimated to remain high.
- In the United States, the active wear market is estimated remain dominant during the forecast period.
- By 2032, the active wear market in the United Kingdom is expected to grow at a high CAGR during the forecast period
- China is expected to remain a key region in the Asia Pacific active wear market by 2032.
COMPETITIVE LANDSCAPE:
Key companies profiled in the active wear market include Adidas AG, Mizuno USA, NIKE, Inc., Decathlon, Gap Inc, Under Armour, Inc, PUMA SE, Jockey, Skechers U.S.A., Inc, Dick’s Sportswear Company, PVH Corp, V.F. Corporation, Forever21 Inc., H&M Hennes & Mauritz AB.
Due to the significant development in the trend of athleisure wear, which has become part of office and casual wear, the North American activewear industry dominates the global market. The increasing popularity of sporting events and the increasing usage of activewear by sports fans is the major reason for the rapid growth of the European activewear market.
As a result, there is a higher demand for activewear products, such as t-shirts and outerwear in the market. Furthermore, increasing concerns about health & wellness, and an increase in participation in sports activities among the youth population, the Asia-Pacific region is set to record the highest growth rate.
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Key segments
By Product Type:
- Tops & T-Shirts
- Sweatpants & Yoga Pants
- Skirts & Skorts
- Tracksuits
- Sweatshirts/Jacket
- Others (Sports Shoes)
By Material Type:
- Cotton
- Polyester
- Neoprene
- Polypropylene
- Spandex
- Others
By Consumer Orientation:
- Male
- Female
- Unisex
By Price Range:
- Economy
- Mid-Range
- Premium
By Sales Channel:
- Offline Sales Channel
- Online Sales Channel
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa (MEA)
Author
Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods.
Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, technology projects, and driving successful implementations. She has helped create insightful, relevant analysis of Food & Beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals.
About Future Market Insights (FMI)
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