Global Activewear Market Size, Share, and COVID-19 Impact Analysis, By End-user (Men, Women, and Kids), By Distribution Channel (In-Store, Online, and Others), and by Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa), Analysis and Forecast 2022-2030

KEY MARKET INSIGHTS

The Global Activewear Market size was valued at USD 303.4 billion in 2021 and is expected to grow by USD 461.7 billion in 2030 at a CAGR of 5.8%. When compared to ordinary clothes, activewear apparel improves the presentation or performance of athletes performing sports or wellness proactive duties by allowing for better body movement. Furthermore, due to the right fit and support provided by these clothes, a substantial amount of athletic clothing helps to prevent muscle hyper-extends and other tendon and muscle-related ailments. Similarly, special features of sports gear, such as breathability, quick drying, static resistance, warmth obstruction, and substance obstruction, aid in consumer adoption, hence propel market development and growth.    

The rise in popularity of modern clothes in the gym as well as for everyday activities is attributed with the global market's expansion. Because of their heightened health awareness and desire to keep active, consumers are increasingly incorporating fitness and sports activities into their daily routines. Market dynamics have lately evolved as a result of greater engagement, resulting in higher demand for activewear clothes and sports gear.   

COVID-19 ANALYSIS

The COVID-19 pandemic will have a significant impact on the global market. The majority of people are being forced to stay indoors and carry out their daily tasks from their residences. Home exercises and individual outdoor activities have become increasingly popular. The indoor sports and team sports sectors faltered as a result of key athletic events being postponed. Various groups ran campaigns encouraging individuals to workout from home during the initial wave's lockdown, and customers need new fitness clothing on a daily basis. As a result, the demand for activity clothes has been increased.          

LATEST TREND

Prominent Trend is Growing Adoption of Smart Sportswear

The growing popularity of smart sportswear, which is designed to monitor performance, improve workout routines, and provide real-time feedback, represents a market growth opportunity. For example, Inpulse, a British start-up, announced the launch of its riding shorts in January 2021, which employed AI technology to shape and stimulate riders' muscles by monitoring and offering feedback.

DRIVING FACTORS

Increasing Awareness of Health Issues to Boost Demand 

The growing health-conscious population, which is driving up the number of gym visits in various countries throughout the world, has fueled the demand for the product. According to figures released by the International Health, Racquet & Sportsclub Association, the United States had 39,570 gymnasiums in 2018, with more than 6 billion visits. Furthermore, the increasing popularity of fitness apps on technological gadgets has prompted people to engage in fitness activities in order to improve their health. For example, according to data released by the World Economic Forum in September 2020, fitness app usage increased by 50% in the first half of 2020.   

RESTRAINTS

Rising Counterfeit Products May Restrain Market Growth

Counterfeit products in clothes, footwear, leather goods, and others are on the rise in many countries throughout the world, acting as a stifling factor for market growth. For example, the Organization for Economic Cooperation and Development (OECD) reported in March 2019 that counterfeit goods, including sportswear, account for 3.3 percent of global trade.   

SEGMENTATION

The Global Activewear Market is segmented by End-user, Distribution Channel, and Region. Based on the End-user, the market is categorized into Men, Women, and Kids. Based on Distribution Channel, the market is categorized into In-Store, Online, and Others. Based on the Region, the market is categorized into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa.           

REGIONAL INSIGHTS

The Global Activewear Market is categorized into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa.   

North America is the largest market for activewear due to the region's flourishing recreational business has resulted in increased product usage. According to figures given by the Bureau of Economic Analysis, the recreational economy in the United States accounted for 2.2 percent of the current currency GDP, or USD 459.8 billion, in 2019. Furthermore, a huge number of school children participating in sports have fueled demand for the product, which is expected to drive up consumption rates. According to data given by the National Federation of State High School Associations, the United States had 7,937,491 students participating in high school sports in 2018-2019.        

Europe is predicted to be the second-largest market for activewear due to increased spending to combat inactivity among the aged, which has increased participation in physical activities among the elderly. For example, according to World Health Organization data from 2018, the Active Ageing Sponsor in England used USD 13.33 million in National Lottery funds to fund 20 projects in England to reduce the number of inactive older persons. Furthermore, the fact that a substantial percentage of the European population exercises on a regular basis has increased demand for the product.

Asia Pacific is expected to account for the highest CAGR of the global activewear market during the forecast period. Increased government investment in sports has resulted in an increase in demand for the product, which has a substantial impact on market growth. For example, according to figures published by the Economic Times in February 2020, the Indian government had allocated USD 401.6 million to its sports budget, up to USD 7.103 million from the previous year. Furthermore, the burgeoning popularity of sports genres such as cricket, which has resulted in a big number of people playing the game professionally and as a hobby, has made a significant contribution.     

LIST OF KEY COMPANIES PROFILED:

• Adidas AG
• Nike Inc.
• PUMA SE
• The Columbia Sportswear Company
• VF Corporation
• PVH Corp.
• ASICS Corporation
• Skechers U.S.A., Inc.
• Under Armour, Inc.
• Hanesbrands Inc.

KEY INDUSTRY DEVELOPMENTS:   

October 2019- Puma SE Inc announced the debut of its sportswear range through collaboration with Cloud9.

August 2019- Nike announced the acquisition of Celect, a retail predictive analytics and demand sensing company based in Boston.

SEGMENTATION

By End-user

• Men
• Women
• Kids

By Distribution Channel

• In-Store
• Online
• Others

By Region

• North America- U.S., Mexico, Canada
• Europe- UK, France, Germany, Italy, Spain, Rest of Europe
• Asia-Pacific- China, Japan, India, South Korea, Rest of Asia Pacific
• South America- Brazil, Argentina, Colombia, Rest of South America 
• The Middle East and Africa- GCC, South Africa, Rest of Middle East & Africa