PUBLISHER: The Business Research Company | PRODUCT CODE: 1499989
PUBLISHER: The Business Research Company | PRODUCT CODE: 1499989
Activewear encompasses garments specifically tailored for athletic or fitness endeavors. These pieces are typically crafted from lightweight, moisture-wicking, and breathable fabrics, ensuring comfort and support during physical activity.
The primary product categories within activewear include apparel, footwear, and accessories. Activewear apparel comprises clothing items engineered to enhance performance, comfort, and support for active individuals engaged in various physical activities. Fabric options range from polyester, nylon, and neoprene to polypropylene, spandex, cotton, and others, catering to activities such as running, outdoor sports, yoga, pilates, gym workouts, and recreational pursuits. These products are distributed through both offline and online channels, serving a diverse clientele including men, women, and children.
The activewear market research report is one of a series of new reports from The Business Research Company that provides activewear market statistics, including activewear industry global market size, regional shares, competitors with a activewear market share, detailed activewear market segments, market trends and opportunities, and any further data you may need to thrive in the activewear industry. This activewear market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The activewear market size has grown strongly in recent years. It will grow from $339.29 billion in 2023 to $362.17 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth can be attributed to increasing awareness of fitness and health, the popularization of athleisure, endorsements by celebrities and influencers, technological advancements, and the expansion of e-commerce.
The activewear market size is expected to see strong growth in the next few years. It will grow to $474.1 billion in 2028 at a compound annual growth rate (CAGR) of 7%. The growth is expected to be driven by a focus on sustainability and ethical practices, the digitalization of the industry leading to personalized experiences, emerging markets, and the continued emphasis on health and wellness. Key trends anticipated in the forecast period include the proliferation of direct-to-consumer (DTC) brands, a commitment to inclusivity and diversity, the expansion of sustainable product offerings, the integration of augmented reality (AR) and virtual reality (VR) technologies, advancements in health monitoring and fitness tracking capabilities.
The surge in recreational activities is anticipated to drive the expansion of the activewear market. Recreational activities encompass a diverse range of leisure pursuits undertaken for enjoyment, entertainment, and personal fulfillment, including sports, hobbies, exercise, and relaxation. This increase in recreational engagement is propelled by a growing awareness of the significance of physical fitness and the rising desire for leisure activities to alleviate stress and enhance overall well-being. Activewear plays a crucial role in regulating body temperature by facilitating heat dissipation and preventing overheating during physical exertion. Breathable fabrics promote air circulation, ensuring comfort and preventing chafing or irritation, thereby enabling individuals to focus more effectively on their activities. For instance, as per the Outdoor Participation Trend report published by the Outdoor Industry Association (OIA) in June 2023, the number of outdoor recreation participants surged by 2.3% in 2022, reaching a record high of 168.1 million individuals compared to 164.2 million in 2021, accounting for 55% of the U.S. population aged six and above. Consequently, the uptick in recreational activities is poised to drive the growth of the activewear market.
Companies operating in the activewear sector are increasingly emphasizing sustainability and environmental responsibility in their product offerings, exemplified by the introduction of low-emission sneakers. These sneakers are designed to minimize carbon emissions throughout their lifecycle, appealing to environmentally conscious consumers seeking sustainable alternatives. For example, in September 2023, ASICS Corporation, a renowned sportswear manufacturer based in Japan, launched the GEL-LYTE III CM 1.95 sneaker, boasting the lowest CO2 emissions of just 1.95kg per pair. This innovative footwear incorporates carbon-negative foam in the midsole and sock liner, partially derived from sugarcane, along with solution-dyed polyester, contributing to its sustainability credentials. Furthermore, the sneaker features a novel structure utilizing tape to reduce material usage and waste while ensuring optimal comfort and support for daily activities.
In January 2024, Platinum Equity LLC, a prominent private equity firm headquartered in the United States, completed the acquisition of Augusta Sportswear Brands (ASB) and Founder Sport Group (FSG) for an undisclosed sum. This strategic consolidation aims to expand the companies' offerings in sports and lifestyle apparel, enhance customer service, and optimize supply chain efficiency. Augusta Sportswear Brands (ASB) is a leading U.S.-based sports apparel company specializing in the design, manufacturing, and distribution of activewear and spirit wear. Founder Sport Group (FSG) is another notable U.S.-based company focusing on athletic and performance apparel.
Major companies operating in the activewear market are Nike Inc., Adidas AG, Decathlon Group, The Gap Inc., Kappa, VF Corporation, Puma SE, Anta Sports Products Limited, Lululemon Athletica Inc., Skechers USA Inc., Ralph Lauren Corporation, Hanesbrands Inc., Under Armour Inc., New Balance Athletics Inc., Li Ning Company Limited, ASICS Corporation, Columbia Sportswear Company, Deckers Outdoor Corp., Fila Holdings Corp., Wolverine World Wide Inc., Mizuno Corporation, Brooks Sports Inc., Iconix International, Reebok International Limited, Patagonia Inc., Karhu Holding BV, Umbro International Limited
North America was the largest region in the activewear market in 2023. The regions covered in the activewear market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the activewear market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The activewear market consists of sales of compression wear, specialized gear, and athleisure wear. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Activewear Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on activewear market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for activewear ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The activewear market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.