Report Overview
In 2021, the size of the worldwide active wear market was estimated to be USD 303.44 billion. From 2022 to 2028, growth is anticipated to occur at a compound annual growth rate (CAGR) of 5.8%. The increasing preference for contemporary apparel in the gym and for daily activities is blamed for the expansion of the global market. Due to their growing health awareness and desire to maintain their physical fitness, consumers are increasingly adopting sports and fitness activities into their daily routines. Due to the recent changes in market dynamics brought on by the rising involvement, there is now a greater need for sports equipment and active wear clothes.
In 2020, the COVID-19 pandemic had a significant negative influence on the global market for sportswear. The majority of people are now constrained to stay inside and carry out their daily tasks from their houses. Solitary exercise at home and outdoor recreation both experienced a rise in popularity. The team sports and indoor sports industries faltered as a result of the postponement or cancellation of significant athletic events. During the initial wave’s lockdown time, campaigns by various groups urged individuals to exercise from their homes, and shoppers required innovative fitness clothes on a daily basis. The need for athletic and activity clothes increased as a result.
The younger generation and millennials, who are becoming more health-conscious and engaged in activities like yoga, sports, and the gym, are primarily responsible for the rise of the global industry. The flexibility, toughness, and washability of synthetic fibres have also increased, resulting in products like spandex that are more flexible, tougher, and washable than natural fibres. Also driving this market forward are celebrity collaborations with DTC and designer sportswear companies as well as the thinning distinctions between work and gym attire. The market for sportswear is expanding in segments like maternity active wear, ecological active wear, and modest and adaptive clothing.
The market is expected to be driven by an increase in the participation of women in amateur and professional sports and fitness activities over the forecasted period. The increasing fusion of sports and fashion has increased the supply of fashionable sports apparel, which is expected to increase women’s interest and positively impact market growth. Rising disposable income, growing living standards, and declining production costs are the main drivers of market expansion in industrialised countries. Unfortunately, the rise of fake goods is endangering consumer safety, posing problems with quality, and damaging significant industry players’ brands.
From its humble beginnings as sweaty workout clothes to companies with cult-like mass appeal, active wear gear has grown. Modern lifestyles have made sweatshirts, hoodies, and polo shirts essentials that serve a number of functions. Since it can be worn for a variety of occasions and is versatile, functional, and stylish, fashionable active wear is in high demand. In order to satisfy this demand and increase profitability, major market players have benefited from the increased emphasis on style by offering unique, technologically advanced products that are comfortable and useful.
End-user Insights
With a revenue share of more than 60.0% in 2021, the women’s market controlled the entire world. The increasing popularity of modern and stylish sportswear among women is largely responsible for the segment’s growth. The global market for women’s activewear is being driven by a number of advantages associated with activewear, including breathability, quick drying, static resistance, heat resistance, and chemical resistance. The demand for women’s sportswear is also being driven by increased consumer health consciousness and female customers’ enthusiasm for sports and exercise.
Due to the rising popularity of sports like basketball, cricket, and soccer, the men’s market is anticipated to develop at a CAGR of 4.8% over the forecast period. Activewear sales are further supported by male consumers’ growing involvement in athletic pursuits, which benefits market expansion. Additionally, it is anticipated that the increasing spending on activity and sportswear by males around the world will fuel market expansion during the anticipated period. During the projection period, the kids category is expected to grow at a significant CAGR. The main driver of this segment’s growth is consumer spending. Fast fashion and the expanding organised retail sector in developing nations further boost consumer demand for products and propel market expansion.
Distribution Channel Insights
Almost 70.0% of the total revenue was generated by the in-store sector in 2021. The biggest manufacturer of athletic footwear and clothing in the world distributes its goods through various retail stores. Retail outlets offer a wide variety of goods and brands. This is expected to stimulate market expansion. Also, these businesses offer assistance from sales personnel, which helps the industry flourish. In order to increase their retail sales, major companies in the worldwide market are also making important moves, like tailoring the shopping experience and promoting the in-store experience.
Over the forecast period, the internet category is anticipated to have the highest CAGR of 7.2%. The increase in the number of internet and cell phone users as well as a fast-paced way of life are both responsible for the online platform’s expansion. Also, during the COVID-19 outbreak, major players began selling their medicines online and used e-commerce methods in order to maintain market competition. Also, the speedy exchange and refund options offered by internet portals are contributing to the segment’s rise.
Regional Insights
The growth in popularity of fashionable activewear in 2021 helped North America earn the greatest revenue share of almost 35.0%. The region’s market is being driven by the presence of important industry rivals like Nike and Adidas, which account for a sizable portion of the North American market in terms of sales. Market expansion is anticipated to be fueled by the popularity of sports like basketball and soccer as well as rising health consciousness. The regional market is primarily driven by increased disposable income levels, cheaper production costs, and higher living standards.
From 2022 to 2028, Asia Pacific is anticipated to experience the highest CAGR of 8.1%. The millennial and young adult desire for fashionable gym and sportswear is supporting the market expansion. Countries with a higher concentration of young people, including China and India, dominate the regional market. The market for sportswear in the region is probably going to increase because to the growing demand for international brands, greater disposable income, and a desire to lead better lifestyles. Due to government initiatives that promote active participation in sports and competitions, India, China, and Japan will dominate the regional market in the near future.
Key Companies & Market Share Insights
Companies use mergers, acquisitions, and strategic collaborations to create cutting-edge, fashionable activewear and get an advantage over their rivals. For instance, Adidas introduced Formotion, a new line of sportswear for women of all shapes and sizes that is made to complement and support their bodies, in February 2021. Any women looking for comfortable, high-performance clothing to wear while exercising, from Pilates to HIIT gym routines, should check out the recently launched activewear product range. In the global sportswear market, some notable companies are:
- 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.
Segments Covered in the Report
In addition to providing an analysis of the most recent market trends and prospects in each of the sub-segments from 2017 to 2028, this research also projects revenue growth at the global, regional, and national levels. Flair Insights has divided the worldwide activewear market research into segments based on end-user, distribution method, and geography for the purposes of this study:
- End-user Outlook (Revenue, USD Billion, 2017 – 2028)
- Men
- Women
- Kids
- Distribution Channel Outlook (Revenue, USD Billion, 2017 – 2028)
- In-store
- Online
- Regional Outlook (Revenue, USD Billion, 2017 – 2028)
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Asia Pacific
- China
- India
- Japan
- Central & South America
- Brazil
- Argentina
- Middle East & Africa
- GCC
- South Africa
- North America