Activewear Industry

Part
01
of three
Part
01

Market Overview - Activewear: Global

The Activewear market consists of products used to enhance the performance of athletes, which improves the body movement. Many of the Activewears are used in preventing muscle sprains and other ligament & muscle-related injuries. The Activewear apparels, come with excellent fitting and perfect support.

FINDINGS

  • The global Activewear market is expected to reach $567 billion by 2024, rising at a market growth of 6.8% CAGR during the forecast period.
  • The Activewear market comprises of all products used to enhance the performance of athletes which improves the body movement.
  • Additionally, many of the Activewears are used in preventing muscle sprains and other ligament & muscle-related injuries. The Activewear apparels come with excellent fitting and perfect support.
  • Activewears offer extensive advantages like water resistance, bi-stretchable function, anti-bacterial fabric, wicking function, and others.

Product Segments of the activewear market

  • Based on the product type, the Activewear market is segmented into Ready to Wear, Fashion Outer, Pants, & T-Shirts, Rash Guard, Wet Suit, & Swim Wear, Shoes and Fashion Brand.
  • Based on the Fabric Type, the market is segmented into Polyester, Nylon, Neoprene, Polypropylene, Spandex, Cotton and Others Fabrics.
  • The fashion outer segment is expected to dominate the Activewear market in the next five years, owing to an increase in adoption of athleisure wear as casual clothing and a rise in sports participation.
  • The shoe segment is expected to gain significant attention of athletes and customers engaged in sports and fitness activities.
  • Polyester segment dominates the Activewear market in terms of value. Consumer preference for Activewear formulated by using the polyester fabric is increasing owing to its advantages such as high flexibility, quick-drying & easy wash and resistance to shrinkage, wrinkles, abrasion and most chemicals.

Retail Channel Types

  • Retail channels for activewear are divided into online and offline.
  • Online channels are e-commerce platforms like Amazon while offline channels include Department Stores, National Chains, Mass Merchants, Specialty Stores, Off-Price Retailers, Mfr. Owned Stores, and Warehouse Clubs.

Statistics on retail distribution channels

  • Retail distribution channels for the Women's Activewear Market are divided into online and offline.
  • In 2017, the offline segment contributed the largest share, accounting for about 60% of the total revenue in the Women's Activewear market, owing to the growing consumer preference for experiencing the texture, design, or look of the apparel before buying.
  • However, the online segment is expected to witness the fastest CAGR of 8.8% during the study period, owing to facilities such as home delivery, ease of payment, and accessibility of numerous brands from online distribution channels.
  • Among millennials, 39% are more likely to buy a product online than in person, and when they find something they want in-store, 37% are more likely to seek out a better deal online.
  • When shopping, millennials Activewear shoppers are 76% more likely to use their mobile phones to look for deals.
  • Millennial Activewear shoppers are 44% more likely to spend long periods in a store browsing, which suggests that they find fulfillment lingering, browsing and trying on athletic apparel in person.

Key Brands in the Activewear Market

RESEARCH STRATEGY

We were able to find most of the information precompiled except for the section on channel types on market report sources. There was little data on this section especially with regard to performance or other statistics. For the few sources that provided information on the distribution channels of the Activewear market, they only named the channels without going in details, as most information was available behind a paywall. We, therefore, dived deeper to collect statistics on these channels and only found two sources, that gave some statistics on the retail channels. However, even these reports are not conclusive, as they covered the market concerning women and millennials only. Both groups are, however, reported to be the dominant players in the industry. We, therefore, quoted data in these reports to mirror the entire Activewear market. Finally, the reports we used did not cover every channel separately instead, the various channels were grouped into online and offline channels. 
Part
02
of three
Part
02

Market Size - Activewear: Global

The 2019 size of the global activewear market is about $398 billion.

CURRENT MARKET SIZE

  • The global activewear market was worth $351 billion in 2017.
  • By calculation, the global activewear market is currently worth about $398 billion.


FUTURE MARKET SIZE AND GROWTH RATE

  • The global activewear market is projected to hit $546 billion by 2024 at a CAGR of 6.5%.
  • The Asia-Pacific region is projected to exhibit the highest growth rate of 8% between 2018 to 2024.
  • The fashion outerwear, pants, and t-shirts segment is projected to grow the most at 6.9%.


ADDITIONAL INFORMATION


RESEARCH STRATEGY:

CALCULATIONS
  • The 2017 size of the global market was $351,164,000,000. At a CAGR of 6.5%, 2018 and 2019 could be determined as follows:
  • 2018: 351,164,000,000 + (351,164,000,000*6.5%) = $373,989,660,000
  • 2019: 373,989,660,000 + (373,989,660,000*6.5%) = $398,298,987,900
Part
03
of three
Part
03

Insights and Trends - Global Activewear Market

Trends in the global activewear market include overall market growth, increasing women participation, market dominance by North America, increasing revenue share of the APAC market, growth of the outer fashion segment, and a growing share of counterfeits in the market.


GLOBAL GROWTH

  • Almost all the reports surveyed, show an upward growth trajectory with a CAGR of more than 6.5% in the global activewear market.
  • According to a 2018 report by Research and Markets, the global activewear industry generated a revenue of more than $351,164 million in 2017 and is projected to cross $546,802 million by 2024, growing at a CAGR of 6.5% from 2018 to 2024.
  • Another report by Research and Markets, confirm that the global activewear market size is expected to reach $567 billion by 2024, registering a growth of 6.8% CAGR during the forecast period.
  • In 2017, the women's activewear market generated a revenue of $124.65 billion globally; it is projected to feature a CAGR of 8.2% during the forecast period (2018 to 2026).
  • Industry experts like Morgan Stanley are also bullish about the global activewear market. Some factors that are driving the industry growth include a significant rise in the disposable income and the growth of fitness-conscious population around the world. Additionally, there is a growing interest in physical activities' participation, adding to the demand for sports-related products.


INCREASING WOMEN PARTICIPATION

  • According to industry reports, an increase in demand for activewear products among women has enabled the industry to witness exponential growth.
  • The female consumer base for activewear is increasing, owing to a holistic approach of female customers towards sports and fitness. Likewise, an increase in the adoption of athleisure wear as work or street-wear is propelling the growth of the overall market.
  • In 2017, the women's activewear industry generated a revenue of $119,078 million globally; it is projected to generate a revenue of more than $216,868 million by 2025 with a CAGR of 7.7% (2018 to 2025).
  • Another report by Research and Markets, reveals that the global women activewear market was valued at $124.65 billion in 2017 and expected to grow at a CAGR of 8.2% during the forecast period from 2018 to 2026.
  • According to multiple reports, it is found that the women’s activewear has witnessed a widespread adoption owing to the suitability and comfort offered by the activewear for purposes like wearing for work, shopping, etc.
  • Besides, an increase in the trend of wearing activewear as regular or fashion wear will lead to an increase in product offerings across various categories like the top and bottom wear, outer and inner-wear, swimwear, etc.
  • There is a general increase in the participation of female consumers in sports activities, which is fueling the sales of activewear and leading the industry growth.


MARKET DOMINANCE OF NORTH AMERICA AND HIGH GROWTH BY THE APAC REGION

  • North America is expected to dominate the activewear market and will register the highest CAGR of 6.3% in terms of value.
  • The Asia-Pacific region is projected to show exponential growth in the demand of activewear through 2024, growing at a CAGR 8.0% in terms of value.
  • In 2017, North America and Europe accounted for more than 50% of the global activewear market revenue.
  • In the global women activewear market, the Asia Pacific region is projected to become one of the most profitable markets for the manufacturers of women activewear.
  • In 2017, North America accounted for 42% of the global market share; this can be attributed to the rising interest of the younger population in sports and fitness activities.
  • However, the Asia-Pacific region is projected to register the fastest CAGR of 9.6% during the study period; reasons for growth include an upsurge in the disposable income, change in lifestyles, and increase in urbanization across various countries of this region.


DOMINANCE OF THE FASHION OUTER SEGMENT

  • All market reports agree that the outer fashion segment will dominate the global activewear market in the next five years. It is expected that an increase in adoption of athleisure wear as casual clothing and the rise in sports participation will lead to an increase in sales.
  • Another report by Digital Journal, the outer fashion segment is expected to lead the activewear market in the next five years, due to the increase in acceptance of athleisure wear as casual wear and increase in sports involvement of end-users.
  • In the women activewear market, the outerwear segment is expected to manifest the fastest CAGR of 9.1% through 2025, owing to the ease of availability for all sizes and featuring new trends in graphics and designs.


RISE OF COUNTERFEIT BRANDS

  • One of the most pressing issues in the industry is the spread of counterfeits in the market.
  • The presence of counterfeit brands results in safety issues and inconvenience for consumers, which may eventually hamper the growth of the market.
  • The same trend is being witnessed in the women activewear market.
  • In January 2018, Nike identified counterfeit activewear products worth more than $50,000 at Dulles International Airport in Virginia.

RESEARCH STRATEGY

To compile this research, we studied multiple industry reports that cover the global activewear market. We selected the trends that are happening on a large scale and are expected to cause the most significant impact on the market. For this research, we prioritized studying relevant market research reports as opposed to general articles. We referenced reports published by leading research firms like Grand View Research, Forrester, Digital Journal, Research and Markets, IBISWorld, Euromonitor, Million Insights, Allied Market Research, among others. Further, we also looked for notable press releases on sites like BusinessWire, PRNewswire, and PR Web to identify and confirm recent industry trends. Finally, we scoured through business news websites and databases like Newslookup, WSJ, Forbes, CNN, New York Times, and Fortune to confirm our findings.
Sources
Sources

From Part 01
Quotes
  • "Based on the Product type, the Active wear market is segmented into Ready to Wear, Fashion Outer, Pants, & T-Shirts, Rash Guard, Wet Suit, & Swim Wear, Shoes and Fashion Brand. Based on the Fabric Type, the market is segmented into Polyester, Nylon, Neoprene, Polypropylene, Spandex, Cotton and Others Fabrics. Based on Regions, market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa."
Quotes
  • "The global activewear market was valued at $ 351,164 million in 2017, and is expected to reach $ 546,802 million by 2024, registering a CAGR of 6.5% from 2018 to 2024"
Quotes
  • "But it's not all rosy — sports retailers are facing increased competition from online players, unsurprisingly led by Amazon, and the success of some big brands is coming at the expense of smaller local and regional banners. In fact, according to a report emailed to Retail Dive by the NPD Group, sales in physical stores declined this year while online sales of sportswear increased in the high single digits."
Quotes
  • "Looking at channel performance, activewear dollar sales grew year-to-date through August within department stores and national chains, by 5 percent and 3 percent, respectively, but declined within athletic specialty and sporting goods – the more traditional channel for activewear products. This channel also accounts for more activewear dollar sales than department stores and national chains combined*."
Quotes
  • "The report analyzes the two major distribution channels namely online and offline. In 2017, the offline segment contributed the largest share, accounting for about 60% of the total market revenue, owing to the growing consumer preference for experiencing the texture, design, or look of the apparel before buying. However, the online segment is expected to witness the fastest CAGR of 8.8% during the study period, owing to facilities such as home delivery, ease of payment, and accessibility of numerous brands from online distribution channels"
From Part 02
Quotes
  • "The global activewear market was valued at $ 351,164 million in 2017, and is expected to reach $ 546,802 million by 2024, registering a CAGR of 6.5% from 2018 to 2024."
Quotes
  • "The U.S. activewear market is the largest in the world, accounting for more than a third (36%) of activewear sales worldwide, according to Global Industry Analysts, Inc. The market is expected to grow to $69.2 billion in 2020, which is up from $54.3 billion in 2015."
From Part 03
Quotes
  • "The global activewear market was valued at $ 351,164 million in 2017, and is expected to reach $ 546,802 million by 2024, registering a CAGR of 6.5% from 2018 to 2024. Activewear is a utility clothing, which boosts the physical performance and eases body movements, as it enhances comfort while engaging in fitness and sports activities."
Quotes
  • "According to a new report published by Allied Market Research titled, "Activewear Market by Product and Fabric: Global Opportunity Analysis and Industry Forecast, 2017-2024," the global activewear market was valued at $ 351,164 million in 2017, and is expected to reach $ 546,802 million by 2024, registering a CAGR of 6.5 % from 2018 to 2024. North America dominated the global activewear market in 2017, accounting for 42.3% of the total revenue."
Quotes
  • "The Global Activewear Market size is expected to reach $567 billion by 2024, rising at a market growth of 6.8% CAGR during the forecast period. Significant rise in the disposable income and growing fitness conscious population are adding to the growth of the global activewear market. Growing interest in participating in physical activities add to the demand for the sports-related products. Nevertheless, growing number of counterfeit products has led to safety & quality issues, damaging brand names of the key market players."
Quotes
  • "The Women's Activewear market was valued at US$ 124.65 Bn in 2017 and expected to be growing at a compounded annual growth rate (CAGR) of 8.2% during the forecast period from 2018 to 2026. In recent years, the participation of women in sports has grown manifold. Increasing media coverage for women sports is one of the important factors supporting the aforementioned sentence. Various sports bodies to have played their part that has positively influenced the uptake of sports by women, which was evident from the fact that for the first time in history, the London 2012 Olympic Games, featured, an equal number of sports for women as for men. Similarly, in India, the Khelo India initiative has been a positive move from the government to encourage women to uptake sports. "
Quotes
  • "The global women's activewear market was valued at $119,078 million in 2017, and is expected to reach $216,868 million by 2025, registering a CAGR of 7.7% from 2018 to 2025. Activewear is a utility clothing for athletes engaged in sports and fitness activities. It helps enhance the performance of athletes, owing to its various advantages such as enhanced grip, wicking function, and bi-stretchable characteristics."
Quotes
  • "The fashion outer segment is expected to lead the activewear market during the forecast period, due to increase in acceptance of athleisure wear as casual wear and increase in sports involvement of end users. However, the shoe wear segment is estimated to gain prominent attention of consumers engaged in fitness and sports activities. "
Quotes
  • "However, rise in number of counterfeit products is leading to safety & quality issues for consumers and brand damage for key market players. For instance, In January 2018, Nike identified counterfeit activewear products worth more than $ 50,000 at Dulles International Airport in Virginia. "