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

•  Adidas AG.
•  Columbia Sportswear Company.
•  Asics Corporation 
•  Nike, Inc.
•  Gap Inc. 
•  Puma 
•  Under Armour, Inc. 
•  Dick's Sporting Goods, Inc.  
•  North Face, Inc. 
•  PVH Corp.  

RESEARCH STRATEGY

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

• The U.S. has a 36% share of the global activewear market and is projected to hit $69.2 billion by 2020 from $54.3 billion in 2015.
• The size of the global women's activewear market was $119 billion in 2017. It is projected to hit $216 billion by 2025 at a CAGR of 7.7%.

RESEARCH STRATEGY:

• 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

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