The gym apparel market is poised to grow at a Compound Annual Growth Rate (CAGR) of 6.2% between 2022 and 2032. By the conclusion of 2032, the global gym gear market share is forecasted to reach around US$ 384.8 billion, a substantial increase from its value of US$ 204.5 billion in 2021.
There is a notable increase in apparel sold in gyms due to various factors over the recent years. The principal driver for the swimming apparel market growth is the establishment of differentiated gym and fitness centres at various venues.
Rise of the younger generation members who want to improve their figure has also led to exponential subscriptions for gym memberships and indirectly increased demand for clothing items sold at gymhouses in the last few years.
The Covid-19 pandemic was also rapid as a major trigger to prompt membership among the mature population to develop gymwork into their daily regimen. Public associations motived the people to attend gyms; hence, new consumer base for global gym apparel market was created on account of this factor also
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Gym gear producers are introducing new innovative components into their products to meet the current demands of the burgeoning smart wear trend. Furthermore, several technological advancements aimed at boosting user performance and comfort are projected to help the gym gear business. One of the biggest breakthroughs for the rising trends in the gym gear market is the introduction of smart nanotechnology fabric.
Business Growth Drivers:
- Increasing Health Consciousness: Growing awareness about the importance of physical fitness and health has led to a surge in the number of people joining gyms and engaging in regular exercise activities. This trend has increased the demand for gym apparel.
- Fashion and Trend Influence: Gym apparel has become more fashionable and trendy, driven by celebrities, influencers, and social media. The desire to look stylish while working out has contributed to the growth of the market.
- Innovation in Fabric Technology: Advancements in fabric technology have resulted in the development of performance-enhancing materials such as moisture-wicking, breathable, and stretchable fabrics. Consumers are willing to invest in gym apparel that offers comfort and functionality during workouts.
- Rise of Athleisure Wear: The blurring of lines between traditional athletic wear and casual clothing has given rise to the athleisure trend. Gym apparel is now worn not only during workouts but also as everyday attire, expanding the market further.
- E-commerce Growth: The proliferation of e-commerce platforms has made it easier for consumers to access a wide variety of gym apparel brands and products. Online retail channels have significantly contributed to the growth of the market by offering convenience and accessibility.
- Celebrity Endorsements and Collaborations: Collaborations between gym apparel brands and celebrities or athletes have helped in boosting brand visibility and attracting consumers who aspire to emulate their favorite icons.
Industry Restraints:
- Competition and Saturation: The gym apparel market is highly competitive, with numerous brands competing for market share. This intense competition can make it challenging for new entrants to establish themselves and for existing brands to differentiate their products.
- Price Sensitivity: While consumers are willing to invest in quality gym apparel, price sensitivity remains a factor, particularly for budget-conscious shoppers. High-priced products may face resistance, especially in economically uncertain times.
- Supply Chain Disruptions: The gym apparel industry relies heavily on global supply chains for materials sourcing, manufacturing, and distribution. Disruptions such as trade tensions, natural disasters, or pandemics can impact production schedules, lead times, and overall business operations.
- Environmental Concerns: The fashion industry, including gym apparel, faces increasing scrutiny regarding its environmental impact. Issues such as waste generation, water usage, and carbon emissions throughout the supply chain are pressing concerns that need to be addressed.
- Changing Consumer Preferences: Consumer preferences and trends can evolve rapidly, making it challenging for brands to stay relevant and meet shifting demands. Brands need to stay agile and adaptable to changing consumer preferences and market dynamics.
- Counterfeit Products: The popularity of certain gym apparel brands has made them targets for counterfeiters. Counterfeit products not only erode brand reputation but also pose safety risks to consumers.
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Key Takeaways
- The present value of the global gym apparel market is estimated to be around US$ 210.8 Billion in the year 2022.
- The net worth of the global gym apparel market is expected to witness an absolute increment of US$ 174 Billion over the forecast period of 2022 to 2032 that may take the net worth up to US$ 384.8 Billion by the end of 2032.
- Sweatshirts and tanks are the most popular product type segment of the gym apparel market share that is expected to witness the highest the growth rate of nearly 4% during the forecast period.
- Online retailers or e-commerce platforms are the rapidly expanding segments for the global gym apparel market future trends on the basis of the supply chain.
Leading Companies Profiled in Gym Apparel Market are
- Adidas AG
- ASICS Corp
- Columbia Sportswear
- Dick’s Sporting Goods Inc.
- G-III Apparel Group Ltd.
- Gildan Activewear Inc.
- Hanesbrands Inc.
- Nike Inc.
- PUMA SE
- PVH Corp
- VF Corp
- New Balance
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Key Segments
By Product Type:
- Shirts
- Pants
- Shorts
- Sweatshirts
- Hoodies
- Tank-top
- Others
By Material Type:
- Nylon
- Wool
- Polyester
- Others
By Consumer Orientation:
- Men
- Women
- Unisex
By Sales Channel:
- Direct Sales
- Franchised Stores
- Specialty Stores
- Online Retailers
- Mono Brand Stores
- Wholesalers or Retailers
- Other Sales Channel
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa (MEA)
Recent Developments in Gym Apparel Market
- In September 2021, Eastbay and Champs Sports launched a new clothing brand called Eastbay Performance. This new range is designed to boost the company’s prominence in compression shirts, tights, and tanks for gym junkies’ training and casual wear.
- Kappa is a renowned Italian clothing company and fibre producer that offers value chain services from textile mills to customers. It partnered with Hyosung to unveil its new K-spirit e-sports and gym gear collection at Tencent Global E-sports Arena in October 2020.
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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