Global Active Wear Market 2024-2031

Description

List of Tables

Global Activewear Market Size, Share & Trends Analysis Report by Product Type (Tops & T-shirts, Sweatpants & Yoga Pants, Skirts & Skorts, Tracksuits, and Sweatshirts/Jacket), by Material Type (Cotton, Polyester, Neoprene, Polypropylene, and Spandex), by Gender (Male, Female, and Unisex) and by Sales Channel (Online, and Offline) Forecast Period (2024-2031)

The global activewear market is anticipated to grow at a considerable CAGR of 6.5% during the forecast period (2024-2031). Activewear is a category of apparel focused on sports and recreational activities. It aims to combine comfort, style, and function, making it a prominent choice for customers across diverse demographics. The market has seen an increase in demand owing to a rise in sports activities, demand for multi-purpose apparel, and changing customer dynamics. Further, major brands such as Nike, Adidas, and others are focusing on developing & providing new technology and materials to their customers to sustain and increase demand in the market.

Market Dynamics

Rising Disposable Income and Relative Expenditure

The growth in the activewear market is driven by rising disposable income and relative expenditure toward discretionary items including clothing. Specifically, simultaneous increases in income and expenditure have been recorded in recent decades. For instance, according to the latest data released by the Ministry of Statistics and Program Implementation, the per capita monthly household expenditure in India has more than doubled over the last decade. Wherein, in rural areas, the average monthly per capita consumption expenditure (MPCE) was $17.0 in 2011-12, which then rose to become $45.0 in 2022-23, while in urban areas, the average MPCE rose from $31.4 in 2011-12 to $77.2 per household.

Innovation in Activewear Fabric Technology

The market growth is attributed to investment and development of new fabric technology in the global activewear market. For instance, in June 2023, Nike unveiled a new apparel technology, Aerogami, designed for runners. The innovative venting system, developed by the Nike Explore Team (NXT) and the Nike Sports Research lab (NSRL), autonomously adapts to runners' needs, providing breathable performance gear with on-demand ventilation. It will make its debut in the new Nike Run division Aerogami Jacket. The technology works in real-time as athletes warm up, sweat, and cool down utilizing tiny, winged vents that open as sweat builds against the skin, allowing better airflow and facilitating sweat escape.

Segmental Outlook

Our in-depth analysis of the global activewear market includes the following segments by product type, material type, gender, and sales channels.

Based on product type, the market is sub-segmented into tops & t-shirts, sweatpants & yoga pants, skirts & skorts, tracksuits, and sweatshirts/jackets.
Based on material type, the market is sub-segmented into cotton, polyester, neoprene, polypropylene, and spandex.
Based on gender, the market is sub-segmented into male, female, and unisex.
Based on sales channels, the market is sub-segmented into online and offline channels.

Tops and T-shirts to Emerge as a Bigger Market

Among activewear product types, tops and t-shirts have remained the selling product type due to their multi-occasion wearability and constant innovation with the fabric and fashion of the sub-segment. The sub-segment is also in demand due to the high consumption of wearables in daily use across age groups, making it one of the most versatile activewear apparel in the segment.

Polyester is the prominent Material Type

Most activewear products are designed with the intent to provide heat ventilation and sweat absorption features making polyester the ideal material type for the activewear industry due to its lower recovery value and non-absorption of water molecules. Polyester fiber is often used for sportswear as it provides ease and comfort while exercising and has sweat-wicking abilities that help maintain coolness & dryness during high-intense workouts.

Women Leads the Gender Sub-Segment

The rate at which women are participating in a variety of physical activities has increased, ranging from gym workouts to outdoor sports and yoga, as they prioritize health and fitness. As a result, there is an increased demand for specially designed sportswear to support these varied activities. This has been influenced by broader wellness and self-care trends, with women prioritizing their physical and mental well-being. Activewear is an important part of this self-care routine, which increases the need for comfortable and practical women's activewear.

Online Sales Channel to Dominate the Market

In recent times, retail e-commerce sales have grown significantly attributed to changing buying patterns, increasing number of apparel marketplaces, expansion of retail apparel brands into e-commerce, and convenience of online purchases. The market is further expected to grow as disposable income rises, and internet penetration increases especially in emerging economies. For instance, as per the International Trade Administration, in 2023, e-commerce marketplaces were the primary source for starting to search for products online globally, and roughly three out of ten online shoppers searched for products through this channel. Browsing in-store ranked second, with 18.0% of respondents, followed by search engines and brand websites, each with 14.0%.

Regional Outlook

The global activewear market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia-Pacific), and the Rest of the World (the Middle East & Africa, and Latin America).

North America Holds Highest Share in Global Activewear Market

North America holds the highest share of the global activewear market share. The key factors contributing to the growth trend of having a fit body and a healthy lifestyle is one of the primary reasons driving market growth in North America. Furthermore, the increased participation of baby boomers in health and physical activities had a beneficial impact on market growth. Thus, the growing interest in sports among American youth, as well as their increased participation in sports and fitness activities, are driving the activewear market in this region. According to the Centers for Disease Control and Prevention in 2020, about one-quarter of us adults aged 18 and over met the physical activity guidelines for both aerobic and muscle-strengthening activities. Wherein, among all adults aged 18 and over, 24.2% met the guidelines for both aerobic and muscle-strengthening activities, 22.7% met only the guidelines for aerobic activity, 6.8% met only the guidelines for muscle-strengthening activity, and 46.3% did not meet the guidelines for either type of activity.

Asia-Pacific Is the Fastest Growing In Activewear Market

Asia-Pacific activewear market growth is driven by rising disposable income, increasing population, and spending trend towards discretionary items.
Asia-Pacific countries have recorded growth in sports engagement and health-conscious individuals, increasing demand for several activewear products.

The major companies serving the global activewear market are Nike, Inc., PUMA SE, Adidas America, Inc., Under Armour, Inc., and Lululemon Athletica Inc. among others. With growing demand, market players are focusing on capitalizing on growth by adopting strategies such as collaboration, partnerships, and market expansion, among others. For instance, in August 2023, Adidas and Les Mills announced a new brand partnership to shape the future of training. Under the partnership, the latest high-performance Adidas training apparel, footwear, and accessories will be worn by the industry-leading LES MILLS global athlete network and available for both instructors and the community alike, Adidas has crafted collections and products to specifically support key activity pillars, including HIIT, Strength and Yoga.

Product Code: OMR2028538

1. Report Summary

Current Industry Analysis and Growth Potential Outlook
1.1. Research Methods and Tools
1.2. Market Breakdown
- 1.2.1. By Segments
- 1.2.2. By Region

2. Market Overview and Insights

2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
- 2.2.1. Key Industry Trends
- 2.2.2. Recommendations
- 2.2.3. Conclusion

3. Competitive Landscape

3.1. Key Company Analysis
3.2. Adidas America, Inc.
- 3.2.1. Overview
- 3.2.2. Financial Analysis
- 3.2.3. SWOT Analysis
- 3.2.4. Recent Developments
3.3. Lululemon Athletica Inc.
- 3.3.1. Overview
- 3.3.2. Financial Analysis
- 3.3.3. SWOT Analysis
- 3.3.4. Recent Developments
3.4. Nike, Inc.
- 3.4.1. Overview
- 3.4.2. Financial Analysis
- 3.4.3. SWOT Analysis
- 3.4.4. Recent Developments
3.5. PUMA SE
- 3.5.1. Overview
- 3.5.2. Financial Analysis
- 3.5.3. SWOT Analysis
- 3.5.4. Recent Developments
3.6. Under Armour, Inc.
- 3.6.1. Overview
- 3.6.2. Financial Analysis
- 3.6.3. SWOT Analysis
- 3.6.4. Recent Developments
3.7. Key Strategy Analysis

4. Market Segmentation

4.1. Global Activewear Market by Product Type
- 4.1.1. Tops & T-Shirts
- 4.1.2. Sweatpants & Yoga Pants
- 4.1.3. Skirts & Skorts
- 4.1.4. Tracksuits
- 4.1.5. Sweatshirts/Jacket
4.2. Global Activewear Market by Material Type
- 4.2.1. Cotton
- 4.2.2. Polyester
- 4.2.3. Neoprene
- 4.2.4. Polypropylene
- 4.2.5. Spandex
4.3. Global Activewear Market by Gender
- 4.3.1. Male
- 4.3.2. Female
- 4.3.3. Unisex
4.4. Global Activewear Market by Sales Channel
- 4.4.1. Male
- 4.4.2. Female
- 4.4.3. Unisex

5. Regional Analysis

5.1. North America
- 5.1.1. United States
- 5.1.2. Canada
5.2. Europe
- 5.2.1. UK
- 5.2.2. Germany
- 5.2.3. Italy
- 5.2.4. Spain
- 5.2.5. France
- 5.2.6. Rest of Europe
5.3. Asia-Pacific
- 5.3.1. China
- 5.3.2. India
- 5.3.3. Japan
- 5.3.4. South Korea
- 5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
- 5.4.1. Latin America
- 5.4.2. Middle East & Africa

6. Company Profiles

6.1. ASICS Ltd.
6.2. ASOS.com Ltd.
6.3. Calvin Klein, Inc.
6.4. Columbia Sportswear Co.
6.5. Cravatex Brands Limited (FILA & Proline)
6.6. Decathlon Sports India Pvt Ltd.
6.7. Gymshark Ltd.
6.8. H & M Hennes & Mauritz AB.
6.9. India Pvt. Extreme Brands LLP (HRX)
6.10. New Balance Athletics, Inc.
6.11. Patagonia Inc.
6.12. SKECHERS USA, Inc.
6.13. VF Corp.
6.14. Victoria's Secret & Co.
6.15. WROGN