Global Sustainable Athleisure Market Overview
The key driver impacting the sustainable athleisure market is the increasing awareness regarding physical fitness and personal grooming among millennials. The growing focus of millennials towards physical fitness is driving the global fitness industry which is estimated to boost sustainable athleisure demand in the forecast period. For instance, According to the 2019 IHRSA Health Club Consumer Report, the global fitness industry revenue accounts for $94 billion, and health clubs are on the path to reach 230 million members by 2030. Millennials (born from 1980 to 1999) represent the largest share of 33% of all health club members, followed by GenerationXX(born from 1965 to 1979) at 24%, Baby Boomers (born from 1945 to 1964) at 22%. Moreover, the young generation and rising working-class population demand for a wide variety of apparel with innovative designs and functionality are also estimated to be a significant factor that adds growth to the market.
According to Value Market Research, the global sustainable athleisure market was valued at around USD xxx billion in 2019 and is estimated to grow at a CAGR of about 5% during the forecast period of 2020 to 2026.
The increase in disposable income and growing popularity of environmentally safe practices among the millennial population is predictable to improve sustainable clothing and activewear demand in the forecast period. for instance, as per the report of world bank net national income per capita was valued at 8967.271 USD in 2014; it is enhanced to 8865.384 USD,9290.346 USD respectively in 2017 and 2018. however, the growing number of fake products gives rise to safety & quality issues for consumers, which may hamper the global sustainable athleisure industry in the long run. the current industry trends, such as the growing popularity of fashionable and comfortable clothing, such as puffer vests, are expected to provide beneficial market opportunities for the market players.
The sustainable athleisure market is vast, with a large number of local and global players. the key leaders follow several strategies to improve their market position, such as mergers, acquisitions, expansions, product innovations, and extending product portfolio, to boost their market share globally. for instance, in January 2020, redemption, an italy-based brand, declared the launch of its most sustainable athleisure wear collection, ‘Athletix.’ It is enlisted with the sustainability and communications consultancy Eco-Age to make substantial and meaningful changes across its business. The other known players included in the report Vuori, Outerknown, PANGAIA, ABLE., Adidas AG, EILEEN FISHER, Hanesbrands Inc., Patagonia Inc, Under Armour Inc., Pact, LLC.
In this research report, the sustainable athleisure market is segmented by type, product, gender, distribution channel, and region.
Analysis by Type:
By type, the report is categorized into Mass, Premium. The mass segment dominates the type segment in 2019 with a maximum market share of 62.5%. It is due to the growing tendency of millennials toward sustainability and increased preference for comfortable, convenient, and fashionable clothing where athleisure wear fits perfectly. Moreover, several new product launches by regional and domestic players with reasonable pricing of athleisure wear contributing to the vast market demand in the forecast period.
Analysis by Product:
By product, the report is categorized into Shirt, Yoga Pant, Leggings, Shorts. There is a considerable growth observed in the shirt segment due to the rising demand for sustainable athleisure shirts as they put together comfort, design, and the latest fashion trend. The availability of a huge variety and innovative product launches by leading brands adds growth to the shirt segment in the forecast period.
Analysis by Gender:
By gender, the report is categorized into men, women. There is a vast growth observed in the men segment due to the rising focus and participation of men in outdoor physical and fitness activities with the ensuing demand for comfort wear. Athleisure has gradually become a part of the consumer’s lifestyle in current years and thus opting more for athleisure wear due to its enhanced performance and flexibility associated with athleisure wear.
Analysis by Distribution Channel:
By distribution channel, the report is categorized into online and offline. The offline dominates the distribution channel segment in 2019 with a maximum market share of 70%. It is because offline stores offer quality products in an extensive range of patterns, colors, sizes, designs, and materials. Moreover, benefits such as no waiting for delivery, quick returns, personalized attention from the sales staff, and more customer satisfaction are certain factors contributing to the offline segment's growth in the forecast period.
Analysis by Region:
In the regional outlook of the global sustainable athleisure market, the North America region dominates with a maximum market share of 33% in 2019. It is due to the wide adoption of sustainable athleisure for outdoor and fitness activities such as camping and sports exhibitions and the high demand for stylish and comfortable sportswear by consumers of theis region. Moreover, growing investments in research & development of textile and ethical apparel materials contribute to the development of the sustainable athleisure market across North America.
Market Segmentation covered in the Report:
By Distribution Channel
- Yoga Pant
- North America
- The Asia Pacific
- Latin America
- The Middle East and Africa
This market research report has been produced by gathering information on the basis of primary and secondary research. Secondary research has been done by using various sources which include (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications.
If specific information is required which is not currently within the scope of the report, it can be provided as a part of customization.