The global activewear market is anticipated to grow at a considerable CAGR of 6.5% during the forecast period (2024-2031). The market growth is driven by the increase in demand for activewear, owing to a rise in sports activities. Additionally, the rise in demand for multi-purpose apparel, and changing customer dynamics, are contributing to the market growth. The rising disposable income and relative expenditure toward discretionary items including clothing is boosting the market growth during the forecast period. Moreover, the innovation in activewear fabric technology is contributing to the market growth.
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The global activewear market is segmented by product type (into tops & T-shirts, sweatpants & yoga pants, skirts & skorts, tracksuits, and sweatshirts/jackets), by material type (into cotton, polyester, neoprene, polypropylene, and spandex), by gender (into male, female, and unisex), and by sales channel (into online, and offline), and by geography (into North America, Europe, Asia-Pacific, and Latin America and the Middle East and Africa).
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Market Dynamics
The polyester segment is expected to lead the market during the forecast period, owing to its lower recovery value and non-absorption of water molecules. The fabric provides heat ventilation and sweat absorption, facilitating ease and comfort while exercising. It has moisture-wicking abilities, keeping the athlete cool and dry during intense workouts.
Additionally, as women’s participation in physical activities has increased, such as, gym workouts to outdoor sports and yoga, the demand for activewear in this segment is rising substantially. Women additionally prefer different special activewear for different activities, contributing to the segmental market growth.
North America holds the highest share of the global activewear market, primarily attributed to the rising trend of a fit body and a healthy lifestyle in the region. Furthermore, the increased participation of baby boomers in health and physical activities is contributing to the regional market growth. Additionally, the growing interest of youth in sports is driving the market growth in the region.
The major players in the UAV propulsion systems market include Nike, Inc., PUMA SE, Adidas America, Inc., Under Armour, Inc., and Lululemon Athletica Inc. among others. The market players are contributing significantly to the market growth by the adoption of various business strategies, such as product development, mergers and acquisitions, partnerships, and more.
Recent Developments
- In October 2023, Bata India expanded its product range to include activewear and athleisure clothing with the launch of Power Acti-Wear.
- In September 2023, Campus Activewear launched the Air Turbo technology as part of the Campus Nitroboost range, in India. The Air Turbo technology helps in keeping the feet cool, fresh, and comfortable throughout the day.
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