Athleisure Market Demand 2019 Exclusive Analysis by Renowned Players Future Strategic Planning and Forecast to 2023
Athleisure refers to a fashion trend designed for athletic activities and workouts but can also be worn in workplace and as an everyday wear. Athleisure is a category of apparels designed to look athletic which may or may not have any technical function.
Athleisure includes apparels such as sneaker, joggers, leggings, hoodies, and many more. Many companies used high-end performance enhancing materials for their making while the many apparels are not defined in their athletic performance enhancing abilities. The athleisure market is on the rise due increasing involvement of developing nations into sports and fitness activities. Also, the increasing disposable income and active brand promotions has led to the popularity and increased market sales.
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The materials going into making the athleisure wear are cotton, wool, bamboo, nylon, lycra, polyester, and many more. Increasing popularity of yoga globally along with enhancement of fashion trends. The demand for high-tech materials and unique stitching is expected to grow further in this industry in the coming years.
Some of the key players in the global athleisure market includes Under Armour, Inc. (US), Lululemon Athletica (Canada), Adidas AG (Germany), Nike, Inc. (US), H&M (Switzerland), Eysom (US), Outdoorvoices (US), Ten Thousand, Inc. (US), Isaora (US), Human Performance Engineering (UK).
The Global Athleisure Market in North America is expected to remain dominant throughout the forecast period. Presence of major market players, higher awareness of products and greater purchasing capacity in the region is expected to keep the market dominant during the forecast period. The North American market for athleisure apparels is expected to grow substantially during the assessment period with increasing R&D of the materials and design for these active wears is expected to further increase in the region.
The global athleisure market has been segmented based on apparel type, end-use, distribution channel, and region.
By apparel type the market is segmented into sneakers, yoga pants, shorts, sports bras, leggings, tights & joggers, sports jackets, and others.
By end-use the market is segmented into men and women.
The global athleisure market has been classified on the basis of distribution channel into store-based and non-store-based
Asia Pacific is expected to grow the fastest during the forecast period. Increasing brand awareness mainly due to the celebrity brand endorsements of products and increasing population involvement into health and fitness related activities are some of the reasons for the market growth. China is expected to dominate the Asia Pacific market due to large population size with medium to high disposable income. Asia Pacific is expected to be the fastest growing market for athleisure due to growing disposable income and growing awareness of products due to social media in the region. Also, increasing indulgence into sports and sports related activities in the region is expected to propel the market with the highest growth rate.
Europe is also expected to witness a high growth rate during the forecast period. Increased sense of health awareness, and higher disposable income is expected to propel the market during the forecast period. As the economy in the Eastern Europe is bouncing back. Also, the countries of Western Europe especially UK, France and Germany due to their better economy compared to rest of Europe, present vivid opportunities for the athleisure market in the region. The region also has large number of health-conscious population with a great taste for evolving fashion, hence, the active wear are more common in the region.
Rest of the World consist of regions namely, South America, Middle East, and Africa. The market of athleisure is expected to grow at a considerable pace in the developing markets of Brazil, Argentina, UAE, Qatar, and South Africa mainly due to increasing disposable income and growing awareness of athleisure products due to celebrity branding.
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