According to the latest research report by The Insight Partners “Athleisure Market is expected to grow from US$ 411.02 billion in 2021 to US$ 793.46 billion by 2028; it is estimated to grow at a CAGR of 9.9% from 2021 to 2028.
Strong Growth of Athleisure Market Industry in Developing Countries Drives Athleisure Market
Athleisure is a modern clothing trend that blends the fashion appeal of leisure clothing with the comfort of athletic clothing. It is a manufactured kind of clothing that is primarily worn for physical activity, as well as for everyday wear at work or at social gatherings.
The demand for athleisure has increased due to the increasing population of millennials worldwide. Millennials are participating in fitness and sporting activities at a rising rate due to the booming fitness trend. Furthermore, among millennials, the demand for stylish and comfortable athletic wear has increased due to a greater level of self-awareness.
Impact of COVID-19 Pandemic on Athleisure Market
Due to the forced closure of manufacturing facilities, difficulties obtaining raw materials, and limitations on logistical operations, the COVID-19 epidemic had a negative impact on the consumer goods industry. Production of athleisure in 2020 was affected by disruptions in the raw material supply to manufacturers due to containment measures.
The market for Athleisure Market is concentrated with some very well-established players. Some of the key players in the Athleisure Market include
• Adidas AG
• Columbia Sportswear Company
• Gap Inc.
• Hennes & Mauritz AB
• ASICS Corporation
• Lululemon Athletica Inc.
• Nike, Inc.
• Puma SE
• Under Armour, Inc.
• Authentic Brands Group LLC
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