Athleisure Market-Overview
The enthusiasm connected to fitness and comfortable dressing trends is estimated to encourage the athleisure market share. Reports created by MRFR detail the developments of the consumer and retail industry that can be expected in the market through the forecast period. The athleisure market is predicted to be advanced with a surging CAGR in the forecast period.
Social media endorsement trends bolster the reputation of sporting brands and their clothing lines, and this factor is predicted to play a notable role in the market expansion. The clothing's utility element is estimated to further create a marketable USP for the market companies in the approaching period.
Competitive Analysis
The focus on sustained growth in the market is likely to reveal promising development options in the forecast period. Foreign portfolio investors are predicted to play a vital role in expanding the business interest of new businesses innovating the market's product range. The positive influence of macro market reforms is predicted to ripple favorably throughout the global market in the forecast period. The challenges of business stability and diminished cash flows due to the pandemic are estimated to be rectified gradually in the coming years. The market is estimated to be powered by the developments visible in the global market that are being instated to create a swift return to normalcy. The progress in distributing vaccines is estimated to fasten the market's development as optimistic sentiment returns to the market. The majority stake contenders are assessed to take an enhanced amount of risk to achieve their overall targets by aligning the resources needed to accomplish this goal. The return in demand stability is estimated to herald a positive development phase in the global Athleisure market in the forecast period.
The renowned companies in the athleisure market are Nike, Inc. (US), The Under Armour, Inc. (US), Lululemon Athletica (Canada), Ten Thousand, Inc. (US), Adidas AG (Germany), H&M (Switzerland), Eysom (US), Outdoorvoices (US), Isaora (US), and Human Performance Engineering (UK).
Segmental Analysis
The segmental overview of the athleisure market value is conducted on the basis of apparel type, end-use, distribution channel, and region. The end-user segment in the athleisure market is divided into men and women. The apparel type segment in the athleisure market comprises yoga pants, leggings, shorts, sports jackets, sneakers, sports bras, tights & joggers, etc. The distribution channel segment in the athleisure market size is segmented into non-store-based and store-based. The regions considered in the regional segment of the athleisure market are North America, Europe, Asia Pacific, and the rest of the world segments.
Detailed Regional Analysis
The athleisure market's regional investigation encompasses regions such as North America, Europe, Asia Pacific, and the rest of the world segments. The intensifying participation in sports and fitness events in the emerging regions is creating a profitable market for the worldwide as well as the local companies. Furthermore, swelling disposable revenue in the Asia Pacific & South American regional markets has been drawing high-end sports apparel manufacturers, thus bolstering the region's share. The contemporary end users in the Asia Pacific regional market are looking for fashionable and cozy premium sports clothes, which is likely to translate well for the global market. Also, athleisure brands are joining in the global markets' segments of both in the middle to exclusive pricing ranges of athleisure apparel to tap into the developing trend in the athleisure industry. An advanced and specialized use of fabric and a wealthier customer base in the regions of North America and Europe, along with the altering daywear and activewear styles, are improving this market's growth. Furthermore, fitness & sports is steadily becoming a prestigious representation in a more health-conscious population base in the region, projected to add further to the requirement of athleisure trends 2016 wear in North America and Europe's regional markets.
Industry Updates:
Jan 2021 Puma has merged on-course performance with athleisure in a novel golf apparel line. The Runway hoodie is a component of Puma's original "Excellent Golf Wear" apparel line, which has increased interest in Puma's latest apparel collection called "Excellent Golf Wear," that advances a seamless blend of golf and street-wear styles made of performance fabrics but presented in user-friendly and athleisure-style silhouettes.
Feb 2021 Target's in-house athleticwear product has reached USD 1 billion in sales, a consequence of shoppers' pandemic-induced shift to stretchy, relaxing attires. The brand, named All in Motion, is one of 10 Target brands out of over 30 that touched at least USD 1 billion in sales for 2020. The contagion has been encouraging demand for relaxed, functional clothing since last year. The sales of sweatpants, shorts, and sports bras from March to July 2020, were rising, notwithstanding overall apparel sales plummeting 34%.
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