The demand drivers promise to uplift the global athleisure market size through 2034 at a CAGR of 8.8%. The market will swing from USD 396.7 billion in 2024 to reach USD 920 billion, the all-time-highest market valuation.
The adaptability of athleisure will be high in different settings, including work, casualwear, sports, and many more. Due to this, more market openings are seen to create opportunities for leading athleisure brands. Hence, this will be elevating the athleisure market growth rate.
Technological advancements will accelerate innovation in the industry. Due to this, the profitability of leading athleisure brands might increase. Hence, this will elevate the global athleisure market size.
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The growing social media platforms will surge the influencer culture, driving consumer demand. As a result, marketing techniques can be innovated, which will drive the athleisure market growth rate.
The growing e-commerce platforms will bolster the distribution network. Due to this, consumer reach can be enhanced, uplifting the performance of leading athleisure brands.
Key Takeaways from the Market Study
- Offline distribution channels are the highest-grossing segments, covering 71% of the market by 2024.
- The athleisure market will be the largest by its size in the United States, promising the market valuation to reach US$9 billion by 2034.
- The South Korean athleisure market will propel at the highest CAGR. It will advance at 11%, forecasting a valuation of US$7 billion by 2034.
- Mass athleisure products are widely preferred by consumers, promising a market share of 68% by 2024, and it will advance at a CAGR of 8.6%.
“A high saturation level due to excessive market competition might slow down the athleisure market growth rate,” says an FMI analyst.
Country-wise Analysis
Forecast CAGRs from 2024 to 2034
| Countries | Forecasted CAGR |
|---|---|
| The United States of America | 9.1% |
| China | 9.6% |
| The United Kingdom | 10% |
| Japan | 10.4% |
| South Korea | 11% |
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Competitive Landscape of the Athleisure Market
Leading athleisure brands will likely clutter the market’s competitive landscape as they will augment their offerings using cutting-edge technology. Also, they intend to expand using many strategic initiatives, including mergers, partnerships, collaborations, and acquisitions.
New entrants might create a market niche using product innovation. They might form strategic alliances with large-scale players by lending their assets to gain a competitive edge. The following market developments have occurred recently:-
- In May 2022, Adidas AG partnered with Foot Locker, Inc. The strategic move oriented organizations around better consumer connectivity, better consumer experiences, and product innovation. This also enhanced the business’s market position, leveraging a sustainable competitive edge.
- In March 2024, Hanes Brands, Inc. extended its partnership with the University of Mississippi by three years. The organization can function with the products of the latter in the competitive landscape for the next three years, earning substantial revenue through this. The strategic move will bolster the organization’s market position.
Key Players are:
- Hanes Brands Inc.
- Adidas AG
- Vuori
- PANGAIA
- Under Armour Inc.
- Outerknown
- EILEEN FISHER
- Patagonia Inc.
- Wear Pact LLC
- Lululemon Athletica
More Valuable Insights Available
Future Market Insights offers an unbiased global athleisure market analysis, providing historical data from 2019 to 2023 and forecast statistics from 2024 to 2034.
The market is segmented on the basis of Type (Mass and Premium), Product (Yoga Apparel (Tops, Pants, Shorts, Unitards, Capris, and Others), Shirts, Leggings, Shorts, and Others), End-User (Men, Women, and Children), Distribution Channel (Online and Offline), and Region (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, and the Middle East and Africa).
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About the Consumer Product Domain at Future Market Insights
Future Market Insights’ consumer product team offers expert analysis, time-efficient research, and strategic recommendations to provide authentic insights and accurate results to help clients worldwide. With over 100+ reports and one million+ data points, the team has lucidly analyzed the industry in 50+ countries for over a decade. The team briefly analyzes key trends, including competitive landscape, profit margin, and research development efforts.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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