Athleisure Market Size

Athleisure Market Analysis

The Athleisure Market is expected to register a CAGR of 6.16% during the forecast period.

The athleisure market size is expected to grow from USD 319.10 billion in 2023 to USD 430.28 billion by 2028, at a CAGR of 6.16% during the forecast period (2023-2028).

• Rising health and self-consciousness and a desire to lead active lifestyles and appear fit are encouraging consumers to incorporate sports and fitness activities into their daily routines. This increased participation has led to a change in market dynamics, resulting in an increased demand for athleisure products.
• Additionally, the availability of sports apparel with enhanced properties such as moisture management, temperature control, and other performance-boosting characteristics that prevent discomfort and potential injury has captured the interest of consumers who are willing to pay more for such additional benefits.
• For instance, Nike claims that its Dri-FIT fabric used in its sports apparel products supports the body's natural cooling system by wicking away sweat and dispersing it across the fabric's surface to evaporate faster. Hence, these enhanced features in athleisure products have propelled consumer habits to wear athletic apparel while performing athleisure activities.
• The primary strategies adopted by the top companies operating in the market studied are product innovation and partnership. Both strategies are effective in parallel, as players generally collaborate with other companies and well-known personalities to launch their new products. For instance, in March 2022, Abercrombie & Fitch, a leading American apparel company, announced the launch of a new activewear sub-brand named YPB stands for Your Personal Best. The brand aims to empower customers to use the brand for a variety of activities, including running, stretching, lifting, and reclining.
• Moreover, an increase in government initiatives in various countries to improve sports participation played a key role in driving the demand for athleisure in the last few years. For instance, in November 2021, the government of England recommended launching a 'Work Out to Help Out' campaign to incentivize people to get involved in organized sports.
• Similarly, in August 2023, the United Kingdom government announced that it will join forces with former sports stars, health professionals, and fitness experts to help an additional 3.5 million adults and children get physically active by 2030 as part of a major national activity drive. However, the strong presence of counterfeit goods in the marketplace has become a significant threat to brand manufacturers and the market's growth. The growth of the luxury athleisure market has been affected by the presence of various counterfeit products, which may be difficult to identify as fake.