Global Growth of Activewear Market
The global activewear market is growing rapidly, expected to reach $527.3 billion by 2028 from $371.7 billion in 2022, exhibiting a 5.8% growth rate. Activewear includes moisture-wicking, breathable clothing designed for sports and outdoor activities. The market is competitive with newer brands launching innovative products. Key trends shaping this market include smart technology integration into garments and rising demand for sustainable activewear.
- North America accounted for the largest share due to high consumer spending on fitness and the presence of major activewear companies. However, the boost from the pandemic is over. Quality apparel marketed well will still find an audience.
- Leading companies offer expanded retail stores and new fabrics customers love. Selecting the right activewear depends on needs and preferences.
Market Saturation and Customization Trend
Activewear market value will reach $547 billion by 2024. However, the market appears saturated, with little product differentiation. Customization is a major trend, allowing customers to design their own activewear.
- The activewear market in North America is driven by rising income enabling spending on fitness and aging baby boomers increasingly participating in fitness and outdoor activities.
- However, Asia-Pacific will witness an 8% growth rate from 2023-2032 due to government initiatives increasing individuals’ participation in fitness and sports.
Oversaturation Concerns and Purchase Considerations
Experts currently say the activewear market is oversaturated. While new on-trend styles are tempting, tailor purchases to individual needs and intended uses to get the most value.