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The fitness apparel sector has emerged as a pivotal component within the sports and leisure industry. According to a report by Global Market Insights, Inc., the fitness apparel market achieved a valuation of USD 104.5 billion in 2019 and is expected to experience substantial growth at a rate of 14.40% from 2020 to 2026. This market's unprecedented expansion can be attributed to a surge in the number of individuals embracing health and fitness activities, heightened awareness of personal fitness and lifestyle, and evolving fashion preferences.
The adoption of health and fitness activities has gained significant momentum across various countries, prompting individuals to make informed choices regarding their well-being and adopt active lifestyles. Moreover, the burgeoning popularity of practices like yoga and other mind-body activities has encouraged companies to introduce fitness wear as a status symbol. The growing acceptance of physical activities across all age groups has played a pivotal role in driving the fitness apparel market's growth.
Additionally, the integration of various internet technologies and the proliferation of smartphone applications have streamlined the marketing and sales processes for fitness wear companies. Furthermore, the advent of e-commerce platforms such as Amazon and JD.com, offering discounts and promotional incentives, has substantially fueled the demand for fitness apparel.
The fitness apparel market can be segmented based on product type into men's wear, women's wear, and children's wear. In 2019, the men's segment held a commanding 60.1% share of the global market, and this dominance is expected to persist in the foreseeable future. Men's fitness apparel has witnessed a surge in popularity, with many companies directing their product launches and marketing efforts towards promoting it. Technological advancements in the production process have enabled apparel manufacturers to create garments with superior qualities like breathability, lightweight design, and fast-drying properties, further stimulating the consumption of fitness wear among men.
The Asia Pacific region has witnessed remarkable growth in the fitness apparel industry. In 2019, it held the largest share, accounting for 40.60% of the fitness apparel market, and this dominance is expected to continue in the years ahead. The region serves as a major hub for apparel manufacturers and retailers, with a strong focus on fitness-related activities such as yoga driving the demand for fitness apparel.
Meanwhile, North America is poised for significant growth during the forecast period. In 2019, it held a 27.40% share of the fitness apparel market and is projected to experience substantial expansion. Increasing health and fitness awareness among Americans, coupled with rising sales of gym and yoga apparel, are pivotal factors expected to foster market growth in this region.
Prominent companies in the fitness apparel market include Adidas AG, Nike Inc., Puma SE, VF Corporation, ASICS Corporation, and Under Armour Inc., among others. These industry leaders are heavily focused on forming collaborations and partnerships with various retailers and suppliers to expand their global presence. Additionally, their emphasis on introducing new products and merchandise ranges with advanced features has enabled them to grow their customer base and capture a larger market share.
The growing trend of individuals gravitating towards health and fitness activities has provided substantial support for the industry's expansion. This trend has allowed businesses to directly access clients willing to invest in fashionable activewear. Furthermore, the emergence of well-known brands such as lululemon and Sweaty Betty has inspired new entrants to enter the market. Companies are actively implementing promotional strategies to capture a significant portion of their target audience. Moreover, the fitness apparel industry is diligently working on enhancing manufacturing processes to produce items with significant features, including warmth, breathability, and lightweight design, in order to attract a broader customer base.
The evidence presented suggests that the fitness apparel industry is experiencing rapid growth and is poised for further expansion in the years to come. Increasing consumer interest in health and fitness activities, a rising number of fitness centers, and heightened awareness of personal fitness and lifestyle are major factors expected to drive the growth of the fitness apparel market in the future.
The global Fitness Apparel Market size was valued at USD 104.5 billion by 2019
The global Fitness Apparel Market is projected to grow at a CAGR of 14.40% during the forecast period, 2020-2026.
Research on the market is done by industry professionals who provide personalized insights on the industry structure, market segmentation, Type assessment, competitive landscape (CL), along with penetration, and emerging trends. In addition to years of professional experience in their various fields and sectors, their analysis is largely based on primary interview (60%) and secondary research (40%) as well as years of professional experience. In addition, our researchers forecast the market's direction over the following seven years by examining past trends and the market's current position. Additionally, various trends of segments and categories that are geographically portrayed are studied and estimated using primary and secondary research.
The key level executives (VP, CEO, Marketing Directors, and Business Development Managers) of the major industry participants who are active and prominent as well as mid-scale businesses operating in this market were interviewed in-depth for this supply-side report by overall Global Market Research.
Extensive primary research was conducted to gain a deeper grasp of the market and industry. Both primary and secondary research, as well as years of pertinent professional experience, are used to support the analysis. By analyzing past and present market patterns, our experts were able to forecast the market's course over the following seven years. For the geographically offered categories in the list of market tables, it differs per category. In connection with the Global Market research report, we also conducted a number of primary interviews with senior level executives (VP, CEO's, Directors, Marketing Directors, Business Development Managers, CFOs, Technical Consultants, Key Opinion Leaders, Industry Experts, Decision Matrix Authorities, and other crucial individuals) of the key industry players who dominated the Global market.
The primary purpose of secondary research was to gather, identify, and validate the information necessary for the thorough, technical, market-focused, and commercial analysis of the global market. With the use of this study, it was also possible to classify and segment the market in accordance with market trends, geographic markets, and regional considerations linked to market type. Analysts have gathered data in the Distribution Channel for the study of the market from reliable sources including annual reports, journals, white papers, corporate presentations, company websites, international organizations of Energy and Power manufacturers, credible paid databases, and many others to gather reliable intel.
Both top-down and bottom-up methodologies were employed to assess the accuracy of the global market size. The market for as a whole was estimated using these methods for a number of different dependent submarkets. Secondary research was used to address the major industry players, and primary and secondary research was used to calculate their market shares in the various regions. This complete intellectual process includes reading the annual and financial reports of the top market participants and conducting in-depth interviews with top industry executives (VP, CEO, Marketing Directors, and Business Development Managers) to gain important industry insights.
Through reliable secondary sources and validated primary sources, the classification of the global markets and their geographic percentage splits were established. To obtain the final qualitative and quantitative data, all relevant variables that might have an impact on the market under investigation have been taken into consideration, inspected in great depth, verified through primary research, and assessed. This information was collected, added to, and thoroughly examined by professional analysts before being provided in this report. The process used to estimate the overall market size for this study is depicted in the following image as an example.
Report Code :
RL65363
Published on :
Oct 2023
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