The global activewear market size recorded a substantial valuation in 2023. The market is set to expand at an appreciable CAGR over the study period.
Activewear plays a vital role in building confidence among individuals while exercising and playing sports. The products are available in various styles, designs, and fittings depending on the needs of the consumer.
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Fortune Business Insights™ provides this information in its research report, titled “Activewear Market, 2024-2032”.
Segmentation:
Footwear Segment to Surge at a Faster Rate Owing to Growing Consumer Demand
Based on product, the market is subdivided into apparel, footwear, and accessories. The footwear segment is slated to expand at a faster rate over the study period. The segmental expansion can be attributed to the rising consumer demand for footwear that can be used for specific outdoor recreational activities, including skating, swimming, and running, among others.
Men Segment to Record Key Share Due to Escalating Product Demand from Men
By end user, the market is fragmented into men, women, and kids. The men segment is poised to hold a dominant market share. This is owing to the significant activewear demand from men and their rising preference for stylish sports wearables.
Hypermarkets & Supermarkets Segment to Expand Due to Availability of Discounted Clothing
Based on distribution channel, the market is classified into hypermarkets & supermarkets, specialty stores, online channels, and others. The hypermarkets & supermarkets segment is set to grow owing to the provision of discounted clothing by key fashion brands at these shopping centers.
Based on geography, the market for activewear has been studied across North America, Asia Pacific, Europe, South America, and the Middle East & Africa.
Report Coverage:
The report gives an overview of the key trends in the market. It further gives an analysis of the market scenario on the basis of various segments: product, end user, distribution channel, and geography. The major factors propelling the industry expansion across various regions have also been provided in the report.
List of Key Players Mentioned in the Report:
- Adidas AG (Germany)
- Nike Inc. (U.S.)
- PUMA SE (Germany)
- The Columbia Sportswear Company (U.S.)
- VF Corporation (U.S.)
- PVH Corp. (U.S.)
- ASICS Corporation (Japan)
- Sketchers U.S.A., Inc. (U.S.)
- Under Armour, Inc. (U.S.)
- Hanesbrands Inc. (U.S.)
Drivers and Restraints:
Increasing Significance of Healthy Lifestyle to Impel Industry Expansion
The activewear market growth is being favored by the rising emphasis on leading a healthy lifestyle and the escalating demand for these products. Additional factor propelling industry expansion is the rising prevalence of various life-threatening diseases such as kidney failure, heart attack, obesity, and others. This is set to promote the significance of healthy diet and exercise, which is set to boost product adoption.
Regional Insights:
Asia Pacific to Expand at a Faster Rate Due to Increasing Sports Participation
The Asia Pacific activewear market share is anticipated to surge at a faster rate over the analysis period. This is due to the rising participation in various sports activities in countries such as India, China, and Japan. The product demand in the region is set to rise owing to increasing government support in the construction of sports infrastructural facilities.
Competitive Landscape:
Companies Launch New Products to Gain Competitive Edge
Key market players are centered on the launch of various products for strengthening their positions in the market. Some of the additional strategies include merger agreements, partnerships, and acquisitions. These steps are being adopted for securing an edge over their competitors.
Key Industry Development:
September 2022 – Spanx launched a new collection of activewear products in the U.S. This included lightweight jackets, yoga trousers, tennis skirts, and other fitness-based clothing.
Browse Detailed Research Report Summary: https://www.fortunebusinessinsights.com/activewear-market-107923
