Activewear is useful apparel which improves the performance of athletes or participants during physical fitness or sports activities. These type of apparel has been designed for various purpose such as workout, sports, and other activates which are different apparel as compare to regular clothes. Furthermore, a range of activewear are helpful in avoiding muscle sprains and other muscle-related or ligament injuries, due to the proper support and adequate fitting provided by these apparel.
Substantial rise in disposable income and an increasing fitness oriented population are adding to the progress of the global activewear market. Rising interest in taking part in physical activities is driving the demand for activewear. However, increasing counterfeit and cheap quality products has led to quality & safety issues, harming brand names of key and well established market players. However, players are expanding their distribution channels to boost sales. As a result, the activewear market is projected to witness growth in adoption of these products.
The global activewear market can be bifurcated in terms of product type, material type, end- user, age group, category type, distribution channel, and region. According to product type, the market can be segregated into top activewear, bottom activewear, innerwear, swimwear, and outerwear. Bottom activewear includes shorts, sweatpants, skirts, yoga pants & leggings. Based on material type, the market can be segregated into nylon, polyester, cotton, neoprene, polypropylene, and spandex. In terms of end-user, the activewear market is divided into men, women, and kids. Based on age group, the market is segmented as 1 – 15 years, 16 – 30 years, 31 – 44 years, 45 – 64 years, and more than 65 years.
According to category type, the activewear market is divided into economic activewear products and premium activewear products. In terms of distribution channel, the market is segmented into offline distribution channel and online distribution channel. Online distribution channel includes e-tailer websites and company websites. The offline distribution channel consists of retail stores, specialty stores, supermarkets, and direct selling. The activewear market is dominated by offline channels; however, online channels are expected to change the current purchasing scenario during the forecast period.
In terms of region, the global activewear market is segmented into North America (NA), Europe (EU), Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SA). North America country-level analysis features the U.S., Canada, and Rest of North America. Analysis and forecast of the activewear market in Europe includes markets across the U.K., Germany, France, and Rest of Europe.
Similarly, Asia Pacific includes India, China, Japan, and Rest of Asia Pacific. Middle East & Africa includes the activewear market analysis and forecast of GCC countries, South Africa, and Rest of Middle East & Africa. The South America activewear market is segmented into Brazil, Mexico, and Rest of South America. North America region is dominating the market and is expected to maintain its dominance throughout the forecast period. However, the market in Asia Pacific is projected to expand at a faster growth rate during the forecast period due to rising concerns regarding wellness & health and increase in contribution of youth in athletic and sports activities.
Major companies functioning in the global activewear market includes Adidas America Inc., ASICS America Corporation, Columbia Sportswear Company, DICK'S Sporting Goods, The Gap Inc., Nike, Inc., The North Face, Phillips-Van Heusen Corporation, Puma SE, Under Armour Inc., 2XU Pty Ltd., 361 Degrees International Limited, Vie Active, Everlast Worldwide, Inc., Fashion Nova, and Forever21 Inc. Key players in the activewear market are anticipated to observe growing demand for activewear throughout the forecast years due to the key players introducing latest activewear products that are projected to encourage customers and inspire them to spend more on their activewear products. Key players are focusing on expansions, acquisitions, and collaborations with new startup companies as their key strategy to increase substantial market share. Additionally, the activewear market is estimated to experience the trend of manufacturing new products with eye-catching packaging and investing more on promotion of products.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.