New York, April 26, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Athleisure Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Type, Category, Distribution Channel, and Geography” – https:// www.reportlinker.com/p06269977/?utm_source=GNW
These clothes and shoes can also be worn as casual wear in the workplace or at social events.
Based on type, the athleisure market is segmented into top, bottom, footwear, and others. In 2020, the bottoms segment dominated the market, while the footwear segment is expected to register the highest CAGR in the sports leisure market over the forecast period.
The athleisure market, based on geography, is segmented into North America, Europe, Asia Pacific (APAC), South & Central America (SCAM), and Middle East & Africa (MEA). In 2020, North America dominated the global athleisure market.
The growing fitness and health trend is generating a demand for comfortable and fashionable sportswear. Additionally, several manufacturers focus on specific sportswear product categories and offer custom-tailored gear that best suits individuals.
The growing participation of female workers in sports and fitness activities in the region is expected to drive the market over the forecast period. The e-commerce industry in North America is on the rise and consumers are buying more and more products from online retail channels.
According to data from the Census Bureau of the Department of Commerce, e-commerce sales in the United States increased by 9.4% (±0.9%) from Q4 2020 to Q4 2021. The rapid penetration of e-commerce in the region holds growth opportunities for athleisure manufacturers as it helps them cater to a wider customer base. Additionally, the growing influence of lifestyle blogs and celebrity endorsements in marketing sporting goods to a wider customer base is driving the market progress in the region. Europe ranked third, in terms of share, in the athleisure market in 2020. Growing health and fitness awareness among European consumers is driving apparel and equipment sales sport. Athleisure is gaining popularity in Europe due to the societal trend towards healthier and more active lifestyles among all age groups, and the growing popularity of sportswear worn as casual wear.
Many industries, such as the consumer goods industry, have faced unprecedented challenges due to the COVID-19 pandemic. Raw material and labor shortages, plant closures, and other operational difficulties under COVID-19 safety protocols have hurt the athleisure market.
Lockdown restrictions have heavily impacted athleisure supply and production, restraining market growth. These restrictions have also led to the temporary closure of sports and wellness facilities, such as gyms, during the COVID-19 pandemic.
In addition, the closure of distribution facilities such as supermarkets, hypermarkets and specialty stores has limited consumer access to sports leisure products. However, the successful implementation of vaccination campaigns has mitigated the troublesome scenario by bolstering the restoration efforts of people and businesses.
Economies are reviving and the demand for athleisure is expected to increase globally in the coming years. Major manufacturers have started to resume operations. Additionally, an increase in e-commerce activities during the COVID-19 pandemic has had a positive impact on the athleisure market. Along with this, Sweaty Betty, a women’s activewear brand, reported a 60% increase in sales due to increased consumer investment in activewear in 2020.
Adidas S.A.; Asics; Athlete LLC; Authentic brand group; Columbia sportswear company; Hennes and Mauritz AB; Lululemon Athletica; Nike, Inc.; Puma SE; and Under Armor Inc. are among the major players in the athleisure market. These companies adopt strategies such as mergers and acquisitions and product launches to expand their geographic presence and consumer bases.
The overall sports leisure market size has been derived using primary and secondary sources. To begin the research process, extensive secondary research was conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
Additionally, several primary interviews were conducted with industry participants to validate the data and gain more analytical insights. Participants in this process include industry experts such as vice presidents, business development managers, market intelligence managers and national sales managers, as well as external consultants such as evaluation, research analysts and key opinion leaders, specializing in the athleisure market.
Read the full report: https://www.reportlinker.com/p06269977/?utm_source=GNW
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