Activewear Market Growth On The Basis Of Type, Application, Region & Forecast To 2028: Grand View Research Inc.

 

The global activewear market size is expected to reach USD 451.10 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 5.8% from 2022 to 2028. The rise in the popularity of contemporary apparel in the gym and for everyday activities is propelling the worldwide industry forward. Consumers are increasingly adopting sports and fitness activities into their daily routines owing to their increased health awareness and desire to keep themselves healthy. Market dynamics have lately evolved as a consequence of greater involvement, resulting in higher demand for activewear clothes and sports gear.

Increased participation of women in domestic and professional sports and fitness activities is expected to boost the market growth over the forecast period. The increasing convergence of sports and fashion has resulted in an increase in the availability of stylish sports gear, which is expected to increase women's interest and hence contribute to market growth. Activewear that is fashionable is in great demand since it is versatile, useful, trendy, and can be worn for a variety of occasions.

To address this need, key enterprises in the market have introduced fresh, technologically complex items that are both pleasant and useful, resulting in increased profitability. Growing awareness among the younger generation and millennials, which are becoming more health-conscious and are engaged in activities such as yoga, sports, and gymming, is driving the worldwide industry ahead. In addition, the partnerships and collaborations between celebrities and DTC and designer sportswear companies are moving this industry forward.

The COVID-19 outbreak had a significant influence on the global market in 2020. Because of the virus's spread, most people have been forced to stay indoors and carry out their daily tasks from their houses. Individual outdoor activities and home exercises have become increasingly popular. Team and indoor sports suffered as a result of big sporting events being postponed or canceled. Another element contributing to the surge in sportswear sales is numerous organizations' advertisements urging people to exercise from home during the initial wave's lockdown period when customers need more and newer fitness apparel on a regular basis. The demand for activewear apparel increased as a result.

In 2021, North America dominated the global market with a share of over 35.0%. The existence of major industry competitors such as Nike and Adidas that hold a major share in the North American market is propelling the regional market. The market is predicted to grow due to the increasing popularity of sports like basketball and soccer and improved health awareness. From 2022 to 2028, Asia Pacific is expected to grow at the fastest rate of 8.1%. China and India, which have a higher proportion of young people than the rest of the area, are driving the regional market.

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In 2020, the worldwide market for activewear was severely impacted by the COVID-19 pandemic. Most individuals have been compelled to stay indoors and accomplish their daily duties from their homes. Individual outdoor activities and home exercises both showed a surge in popularity. Due to the postponing or cancelation of major athletic events, the team sports and indoor sports sector struggled. Campaigns by various organizations encouraged people to exercise from their homes during the initial wave's lockdown time and consumers needed novel fitness clothing on a daily basis. This escalated the demand for sportswear and activewear clothing.

Activewear Market Report Highlights

• North America held the largest revenue share in 2021. The regional market is primarily driven by rising disposable income, increasing demand for fashionable and trendy clothing, and the presence of several manufacturers
• In 2021, the women end-user segment led the global market. The growing popularity of stylish and fashionable athletic clothes among women is driving the segment
• The online distribution channel segment is expected to exhibit the highest CAGR of 7.2% over the forecast period. The expanding number of cell phone and internet users and a fast-paced lifestyle will accelerate the expansion of the online platform

The growth of the global market is mainly attributed to a growing awareness among the younger generation and millennials that are becoming more health-conscious and interested in activities like gymming, sports, and yoga. Synthetic fibers have also improved in terms of flexibility, durability, and washability, making items like spandex which are more flexible, durable, and washable than natural fibers. Furthermore, celebrity partnerships with DTC and designer sportswear businesses and the growing blurring of the barriers between work and workout gear are propelling this market ahead. The sportswear market is witnessing growth in sectors including modest and adaptable clothes, maternity activewear, and sustainable activewear.

Over the projected period, the market is likely to be driven by the increased engagement of women in domestic and professional sports and fitness activities. The growing integration of sports and fashion has resulted in a rise in the availability of trendy sports clothing, which is predicted to enhance women's interest, thus making a constructive contribution to the market growth. The primary factors fueling market expansion in developed nations are rising disposable income levels, increasing living standards, and reduced production costs. However, the surge of counterfeit items is causing consumer safety, quality difficulties, and brand harm for important industry participants.

List of Key Players of Activewear Market

• Adidas AG
• Nike Inc.
• PUMA SE
• The Columbia Sportswear Company
• VF Corporation
• PVH Corp.
• ASICS Corporation
• Skechers U.S.A., Inc.
• Under Armour, Inc.
• Hanesbrands Inc.