Athleisure wear has become increasingly acceptable to be worn in various social environment even at workplaces. Most of consumers find active wear comfortable and flexible which is attributable to the kind of material used to design such apparels or footwear. Synthetic fabrics such as polyester and nylon are the most commonly used materials in such athleisure apparels, which altogether tend to provide the best combination of the required properties.
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Market Dynamics
Rising health and self-consciousness, desire to lead active lifestyles and to appear fit, is encouraging consumers to incorporate sports and fitness activities into their daily routine. This increased participation has led to a change in market dynamics, leading to an increased demand for athleisure products. As the consumer lifestyle has been evolving especially across the developing nations, owing to rising disposable income levels and following up with the trends of sporty fashionable looks, the athleisure market is set to grow. The rising participation of working women in domestic sports and fitness activities is expected to drive the market over the forecast period. Further, sustainability, a long-standing fashion trend, has made its way into the athleisure sector.
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Segment Analysis
Increasing participation of women in sports and fitness is likely to proliferate segment growth. According to the Sasakawa Sports Foundationof the total population in Japan participates in sports at least once a year. Moreover, close to 70% of the total women population in the country participates in sports at least once a year. This factor is boosting the demand for sportswear and athleisure in the country. An increasing number of women taking membership in a sports club is also expected to drive market growth. Product launches, collaborations, expansions into new markets, and innovations in athleisure wear are also driving this segment's growth. For instance, in January 2020, Italian luxury brand Redemption launched its first-ever line of athleisure clothing called the “Athletix”. Celebrity endorsements, promotions, and campaigns led by famous personalities tend to have a considerable impact on consumers.
Competitive Landscape
The global athleisure market is fragmented. The key market players such as Nike Inc., Adidas AG, Under Armour Inc, and Puma SE are focusing on developing a diversified product portfolio, which is intensifying the competition in the market studied. These companies have been taking significant measures to increase their market penetration, across the world, with product innovations and the establishment of new bases and setting up more production plants, along with their associated research and development centers.
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