Country-Niche Players and Regional Players constitute ~60% and ~30% respectively Despite the Presence of about ~400 Competitors, find a Recent Market Study on Global Athleisure Market
A hybrid style of clothing known as athleisure combines athleticism with leisure and is intended to be both durable and comfortable enough for active use. It is frequently worn during athletic events as well as in other places, like the workplace, school, or other informal or social gatherings.
Ken Research shares 3 key insights on this high-opportunity market from its latest research study.
Large Global Players Hold Around 40% of the Market Share Followed by the Regional Players Holding ~35% of the Market Share
A comprehensive competitive analysis conducted during the Research Study found that the Global Athleisure Market is competitive with ~400 players which include globally diversified players, and regional players, as well as a large number of country-niche players.
According to the research, the large global players comprised just 10% of total competitors but held the dominant position in the market in 2021, in terms of the market share with about ~40% followed by regional players which account for ~35% of the market share.
Global Players have a Diverse Presence in the Fitness Clothing and Footwear Industry which is Promoting Market Growth.
With numerous global corporations and small producers operating their companies through a variety of products and a vast distribution network, the market is considerably competitive by nature. From product manufacturing to final product distribution to multiple places, the enterprises in the sector have a high degree of integration.
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For instance, the third quarter of 2020 saw net sales growth of 35% for the Gap-owned women’s fitness clothing line Athleta, as well as a 55% gain in sales for the activewear division of Old Navy, which is also owned by the Gap. In the most recent Q4 2020, Gilly Hicks, a line of women’s loungewear from Abercrombie & Fitch, saw double-digit sales growth, which boosted online sales by 100%.
Not just key players but also emerging players are expanding in different industries with Athleisure products and are also investing in strategies like collaborations and technological development to compete in the industry.
Increased Adoption of Athleisure in Various Parts of the World leading to Major Industry-Wide Developments, Acquisitions, and Deal-Wins
- In October 2022, the sportswear brand Reebok teamed with the Nigerian fashion and lifestyle firm bCODE to carry its footwear and clothes on its recently opened website and multi-brand concept store in Surulere, Lagos. Men’s, women’s, and children’s footwear are included in this collaboration, as well as several global footwear brand designs. This new agreement marks the opening of bCODE’s first-ever multi-brand concept shop in Lagos and establishes the company as a rapidly expanding player in the fashion retail industry.
- In February 2022, Columbia Sportswear launched a product collection of outdoor activewear, made in collaboration with brand ambassador Bubba Wallace and NASCAR Cup Series driver.
- In July 2021, Nike App was launched by the brand which is the company’s rapidly-expanding platform in the countries like Singapore, Philippines, Thailand, Taiwan, Malaysia, and India. The launch of the App has led to an expansion of the brand’s digital ecosystem in Southeast Asia and India, also the company strives to construct a wide online presence in developing regions.
For more information on the research report, refer to the below link:
Global Athleisure Market Size, Segments, Outlook, and Revenue Forecast 2022-2028: Ken Research
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