According to a new report published by Allied Market Research titled,”Womens Activewear Market by Product, Fabric, Distribution Channel and Price Range: Global Opportunity Analysis and Industry Forecast, 2018 – 2025,” The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.
The global women’s activewear market size was estimated to be $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. North America dominated the global women’s activewear market in 2017, accounting for 42.4% of the total revenue.
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Extensive advantages offered by activewear, increased consumer participation in physical fitness activities, rapid increase in disposable income, shift in trend toward athleisure wear, dynamic fashion trend and its influence over consumers have boosted the growth of the global women’s activewear market. Moreover, surge in coastal tourism, dynamic fashion trend and its influence over consumers, and rapid growth of online retail platform supplemented the growth.
Increase in adoption of athleisure wear as work or street wear propels the growth of the overall market. Furthermore, rise in disposable income and increase in fitness concerns significantly contribute toward the growth of the market. However, volatile cost of raw materials and inflated cost of designing lead to high cost of the final product. This hampers the sales of the product among price-sensitive customers, thereby restraining the market growth.
Moreover, presence of counterfeit brands results in safety issues and inconvenience for consumers, which hamper the growth of the market. Conversely, increase in use of green textile and implementation of the sustainable production methods fuel the adoption of activewear among green consumers. Furthermore, rise in promotional activities such physical activity campaigns, empowerment programs, and activewear promotion by sponsoring celebrities or athletes is expected to provide lucrative opportunities for the key players.
The womens activewear market has been taking innovative steps for the promotion of their products, which in turn propels the market penetration rate across various regions. Motivational advertisements, running promotional campaigns, sponsoring sport events & competitions, and sponsoring of athletes’ apparels are some of the key strategies that boost the womens activewear market.
On the basis of fabric, the market is divided on the basis of polyester, nylon, neoprene, polypropylene, spandex, cotton, and others. The polyester segment dominated the market in 2017, contributing nearly two-fifths of the market. However, the spandex segment is estimated to register the fastest CAGR of 8.9% during the forecast period.
Based on the distribution channel, the market is segmented into online and offline. The offline distribution channel segment held the largest share in 2017, accounting for the nearly three-fifths of the market. However, the online segment is projected to manifest the fastest CAGR of 8.8% during the study period.
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The market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across the Asia-Pacific region is estimated to register the fastest CAGR of 9.6% during the forecast period. However, the market across North America held the largest share in 2017, accounting for more than two-fifths of the market.
The key players operating in the womens activewear industry include Hanesbrands Inc., Mizuno Corporation, Adidas AG, ASICS Corporation, Columbia Sportswear Company, NIKE, Inc., V.F. Corporation, PUMA SE, Under Armour, Inc., and Gap, Inc.
Key findings of the Womens Activewear Market:
○ In terms of value, the active outerwear segment is expected to grow at a CAGR of 9.1% during the forecast period.
○ North America is expected to dominate the market, registering a significant CAGR of 7.2% in terms of value.
○ Asia-Pacific is projected to show exponential growth throughout forecast years, growing at a CAGR 9.6%, in terms of value.
○ The polyester segment is anticipated to dominate global womens activewear market, registering a CAGR of 8.3%.
○ China accounted for more than one-third of the total Asia-Pacific womens activewear market in 2017.
○ In the global womens activewear market, India is expected to grow at a CAGR of 15.6%, in terms of value.
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