Valued at $2 billion in 2022, the global athleisure market is projected to grow at a CAGR of 5.2 per cent to reach $3.2 billion by 2032.
As per a report titled, ‘Athlesiure Market,’ by Allied Market Research, the female segment dominated the global athlesiure market in 2023 with their frequent purchases and adoration of athleisure wear.
According to the US Census Bureau, millennials, particularly in regions like Asia-Pacific, will soon outnumber baby boomers in the country. Similar trends will be seen throughout Asia-Pacific, particularly in nations like China, India, and Australia.
However, the industry continues to be threatened by counterfeit athleisure brands, especially in price-sensitive markets, hindering the growth of original brands. To combat this, the industry employs innovative marketing strategies, leveraging celebrity endorsements and social media to boost market penetration. Gaining popularity amongst male consumers, key items like bomber jackets and hoodies are expected to drive market growth.
The hoodies category is expected to register highest growth during the forecast period. Online sales channels will drive forth due to convenience and product variety they offer. North America will lead in sales revenue while Asia-Pacific is expected to witness rapid growth with the rise in consumer adoption.
Key players like Adidas, Nike, and Lululemon are employing various strategies to enhance market share and profitability. Their success is fueled by the athleisure trend's integration of fashion-forward designs, celebrity endorsements, and technological innovations in materials and manufacturing processes.
