Active Wear Market to Reach USD 750 Billion By 2030

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Report ID: FDS115
Published On: Jun 2023

ACTIVE WEAR MARKET REPORT INSIGHTS

The global active wear market size is expected to reach USD 750 billion by 2030, registering a compound annual growth rate (CAGR) of 7.2% during the forecast period, according to a new report by Future Data Stats.

The active wear market is a subset of the larger apparel industry that includes clothing designed for physical activity or sportswear. It includes clothing such as yoga pants, running shorts, sports bras, and athletic shoes.

The growth of the active wear market can be attributed to several factors, including the increasing popularity of fitness and wellness, the rise of athleisure wear, and the growing awareness of the health benefits of physical activity. Additionally, advancements in textile technology and the incorporation of functional features into active wear have also contributed to the growth.

In terms of region, North America is the largest market, accounting for over 40% of the global revenue share. The Asia-Pacific region is expected to experience the fastest growth, driven by rising disposable incomes, changing lifestyles, and growing health consciousness among consumers.

Key players in the active wear market include Nike Inc., Adidas AG, Under Armour Inc., Puma SE, and Reebok International Ltd. These companies have invested heavily in research and development to create innovative and functional active wear products that cater to the evolving needs of consumers.

REPORT MAJOR HIGHLIGHTS

By Region:

North America and Europe remained the largest markets, accounting for a significant share of global sales.
The Asia-Pacific region saw significant growth, with countries like China and India becoming major players.

By Segment:

Athletic and sports-based apparel continued to dominate, with yoga and running apparel also experiencing growth.
The outdoor and adventure segment also saw significant growth as people increasingly engaged in outdoor activities during the pandemic.

By Companies:

Nike remained the largest player in the active wear market, with Adidas and Under Armour following closely behind.
Other notable companies included Lululemon, Puma, and Asics.
Some emerging companies included Fabletics, Gymshark, and Outdoor Voices.

EMERGING TRENDS

Some emerging trends in the active wear market:

Sustainability: Consumers are increasingly conscious of the environmental impact of their clothing choices and are seeking out sustainable and eco-friendly options. Brands are responding by incorporating sustainable materials, such as recycled polyester and organic cotton, into their products.
Customization and Personalization: Customers are looking for unique and personalized products that suit their individual style and preferences. Brands are offering customization options, such as custom colors or logos, to cater to this demand.
E-commerce and Direct-to-Consumer (DTC) Sales: Online sales have been growing steadily, and the pandemic has accelerated this trend. Brands are increasingly adopting DTC models to reach customers directly and offer a seamless shopping experience.
Athleisure: The trend of wearing outside of the gym has been growing in popularity, with consumers seeking comfortable and stylish options for everyday wear. Brands are responding by designing versatile and fashionable pieces that can be worn both in and out of the gym.
Technology: Active wear companies are incorporating new technologies into their products, such as moisture-wicking fabrics, compression technology, and wearable fitness tracking devices. This trend is aimed at improving performance and comfort for consumers.

CUSTOMER INSIGHTS

Based on general trends in the active wear market, here are some customer insights:

Comfort: Comfort is a key factor for customers when choosing active wear. Customers are looking for fabrics that are soft, stretchy, and breathable, allowing them to move freely and feel comfortable during their workouts.
Performance: Customers are increasingly seeking that is designed to enhance their athletic performance. Features such as moisture-wicking, compression, and breathability are important to customers who want to feel comfortable and supported during their workouts.
Style: Active wear has become increasingly fashionable, and customers are looking for pieces that not only perform well but also look good. Customers are seeking out unique styles, colors, and designs that express their individuality and sense of fashion.
Sustainability: Customers are becoming more environmentally conscious and are seeking out sustainable and eco-friendly options when it comes to their clothing choices. Customers are looking made from recycled or eco-friendly materials.
Convenience: Customers are looking for a convenient shopping experience when it comes to active wear. This includes easy-to-use websites and mobile apps, flexible shipping and return policies, and a wide range of sizes and styles to choose from.

KEY GROWTH DRIVING FACTOR

Here are some key growth driving factors of the active wear market:

Increasing Health Awareness: There is growing awareness among consumers about the importance of maintaining a healthy lifestyle and regular exercise. This has led to an increase in demand that is comfortable, functional, and stylish.
Rise of Athleisure: Athleisure, which is a trend of wearing as everyday casual wear, has become increasingly popular. This trend has driven demand that is both fashionable and functional.
E-commerce Growth: The growth of e-commerce has made it easier for consumers to purchase online. With the convenience of online shopping, consumers are increasingly purchasing products from e-commerce platforms, leading to increased sales and growth.
Sustainability: Consumers are becoming more conscious about the environmental impact of their purchases. This has driven demand for sustainable and eco-friendly products, and companies are responding by incorporating sustainable materials and production methods.
Innovation in Technology: companies are investing in research and development to create innovative products that enhance performance and provide greater comfort. For example, moisture-wicking and compression technologies are increasingly being incorporated into products.
Growing Awareness of Mental Health Benefits: There is growing awareness of the benefits of exercise on mental health. This has led to an increase in demand that is designed to be comfortable and supportive during exercise, providing a positive mental and physical experience.

VALUE CHAIN ANALYSIS

Value chain analysis is a tool used to evaluate the activities and processes involved in the production, distribution, and sale of a product or service. Here is a brief overview of the value chain analysis of the global active wear market:

Raw Materials: The value chain begins with the sourcing of raw materials, such as polyester, spandex, and cotton, used in the production.
Manufacturing: The raw materials are then processed and manufactured into products, such as leggings, sports bras, and athletic shorts. The manufacturing process involves cutting, stitching, and assembling the various components of the product.
Marketing and Branding: Once the products are manufactured, they are marketed and branded to create awareness among potential customers. Companies invest heavily in marketing and advertising campaigns to create a strong brand image and differentiate themselves from their competitors.
Distribution: After the products are manufactured and marketed, they are distributed to retailers, wholesalers, and e-commerce platforms for sale to consumers. Companies must manage the logistics of distribution to ensure that products are delivered efficiently and cost-effectively.
Sales and Customer Service: companies need to provide excellent customer service to maintain customer loyalty and retain their revenue share. This includes providing support for customers who have questions or concerns about their products, as well as handling returns and exchanges.
End Consumers: Finally, the value chain ends with the end consumers who purchase the products. Consumers make purchasing decisions based on factors such as price, quality, style, and brand reputation. The overall success of the value chain depends on how well companies can satisfy the needs and preferences of their customers.