Athleisure Market to Reach $3.2 Billion, Globally by 2032: Allied Market Research
04 December 2023: Allied Market Research has published a report “Athleisure Market by Gender (Male, Female ), by Product Type (Sneaker, Joggers, Leggings, Hoodies, Others ), by Distribution Channel (Offline, Online ): Global Opportunity Analysis and Industry Forecast, 2023-2032.” According to the report, global athleisure industry generated $2.0 billion in 2022 and is anticipated to generate $3.2 billion by 2032, witnessing a CAGR of 5.2% from 2023 to 2032.
Athleisure’ has become a buzz word for the fashion industry. Customers who are fashion-conscious, active, fitness lovers and those searching for comfortable, utilitarian clothing for everyday activities have all found a place in the athleisure sector.
Prime determinants of growth
Global athleisure market is driven by rise in number of millennials, increase in participation of consumers in physical fitness activities, and rise in health and wellness trend among the target customers. However, growing competition, saturation of trendy designs, and shifting @ consumer preferences pose restraints for the athleisure market’s sustained growth. Expanding health-conscious consumer base seeks stylish, comfortable athleisure wear for everyday use. A lucrative opportunity for brands to innovate and cater to this growing demand.”
Based on gender, the female segment held the highest market share in 2022, accounting for around two-thirds of the global athleisure market revenue, and is estimated to maintain its leadership status throughout the forecast period. Female dominance in athleisure market due to rising fitness awareness, fashion-forward trends, and versatile appeal, driving demand for stylish, functional activewear. The male segment is the fastest-growing segment and is projected to manifest the highest CAGR of 5.5% from 2023 to 2032. Men increasingly prioritize fitness and comfort in their daily lives, fueling the rapid growth of the athleisure market as they seek versatile, stylish activewear options.
Europe to maintain its dominance by 2032
Europe region held the highest market share in 2022, accounting for nearly two-fifths of the global athleisure market revenue, and is estimated to maintain its leadership status throughout the forecast period. Europe’s athleisure market dominance is driven by fashion-forward culture, fitness trends, and a growing preference for versatile, comfortable clothing, fostering innovation and strong consumer demand. However, the Asia-Pacific region is projected to manifest the highest CAGR of 6.3% from 2023 to 2032. Asia-Pacific’s rapid urbanization, fitness trends and rising disposable incomes drive the fastest-growing athleisure market. High demand for stylish, versatile activewear fuels its expansion.
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