The active wear market is expected to escalate at a CAGR of 6.4% from USD 421.2 billion in 2022 to USD 779.9 billion through 2032.
It is evident that COVID-19 has made an impact on the active wear market. In order to increase revenue and production of distilled liqueur, investment costs and the lack of employees both played a significant role. Nevertheless, major players in the active wear market adopted measures to advance the development of their products.
The online distribution channel is changing the shopping habits of people because it enables people to make purchases more quickly, has easier payment methods, a wide range of products that can be delivered to their doorsteps, and larger discounts, contributing to the growth of the active wear market during the pandemic, and it will further accelerate its growth during the post-pandemic stage.
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One of the key factors contributing to the growth of the active wear market is the unique benefits offered by active wear, such as quick-drying, thermal resistance, breathability, chemical resistance, and static resistance.
As consumers’ health consciousness grows due to sedentary lifestyles and the prevalence of various diseases, such as diabetes and heart disease, market growth has accelerated.
Active lifestyles are influencing the market positively due to the increase in people turning towards them. One of the key factors contributing to the growth of the active wear market is the unique benefits offered by active wear, such as quick-drying, thermal resistance, breathability, chemical resistance, and static resistance.
As a result of high design costs & volatile raw material costs, the active wear market is likely to face challenges related to a declining number of price-sensitive consumers in the forecast period of 2022-2032.
KEY TAKEAWAYS:
- The active wear market is predicted to develop at a CAGR of 6.4% in the wireless local area network (WLAN) controller’s section of the solution
- The CAGR for the outdoor segment of the location type category in active wear market is estimated to remain high.
- In the United States, the active wear market is estimated remain dominant during the forecast period.
- By 2032, the active wear market in the United Kingdom is expected to grow at a high CAGR during the forecast period
- China is expected to remain a key region in the Asia Pacific active wear market by 2032.
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COMPETITIVE LANDSCAPE:
Key companies profiled in the active wear market include Adidas AG, Mizuno USA, NIKE, Inc., Decathlon, Gap Inc, Under Armour, Inc, PUMA SE, Jockey, Skechers U.S.A., Inc, Dick’s Sportswear Company, PVH Corp, V.F. Corporation, Forever21 Inc., H&M Hennes & Mauritz AB.
Due to the significant development in the trend of athleisure wear, which has become part of office and casual wear, the North American activewear industry dominates the global market. The increasing popularity of sporting events and the increasing usage of activewear by sports fans is the major reason for the rapid growth of the European activewear market.
As a result, there is a higher demand for activewear products, such as t-shirts and outerwear in the market. Furthermore, increasing concerns about health & wellness, and an increase in participation in sports activities among the youth population, the Asia-Pacific region is set to record the highest growth rate.
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Key segments
By Product Type:
- Tops & T-Shirts
- Sweatpants & Yoga Pants
- Skirts & Skorts
- Tracksuits
- Sweatshirts/Jacket
- Others (Sports Shoes)
By Material Type:
- Cotton
- Polyester
- Neoprene
- Polypropylene
- Spandex
- Others
By Consumer Orientation:
- Male
- Female
- Unisex
By Price Range:
- Economy
- Mid-Range
- Premium
By Sales Channel:
- Offline Sales Channel
- Online Sales Channel
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa (MEA)
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