Fitness apparel is a clothing worn for various physical activities such as jogging, running, swimming, dancing, water aerobics, yoga, and bicycle riding. Activity specific clothing is worn for most activities due to comfort, practical and safety reasons. Apparel fabrics are the lightweight technical materials which comfort the wearer during exercise. The apparel worn by fitness runners has exceptional moisture wicking properties in order to provide needed comfort and to allow the transfer of sweat to move from the inside apparel to outside. Furthermore, breathable fabrics with very good insulating properties are utilized in apparels worn while performing fitness activities in snow or the winter season. Typical fitness wear includes tracksuits, shorts, tennis shirts, polo shirts, and T-shirts, while specialized garments includes ski suits, wet suits, swimsuits, protective gears, and leotards.
Increasing disposable income, significant rise in the number of women participants in fitness activities, and the integration of innovative technologies to enhance apparel performance are some of the key factors which are expected to drive the global fitness apparel market during the forecast period. Rising preference of customers to buy comfortable, trendy and quality fitness wear, due to increase in disposable income, is boosting the fitness apparel market. Premium fitness products are expected to witness strong rise in sales due to the high spending capabilities of consumers. According to data provided by the Ministry of Statistics and Program Implementation, India, the country’s total disposable personal income has grown from INR 60 trillion in 2010 to INR 160 trillion in 2016. Health consciousness among working professionals is increasing due to changing lifestyle and work related stress. Working individuals opt for fitness regimes such as gym, running, and swimming to remain active and healthy in their daily routines, which is further driving the market. There has been a significant rise in number of women participating in fitness activities such as yoga and zumba in the last few years. Furthermore, market players are also launching products with enhanced comfort and vibrant colors due to the preference given by women toward trendy fitness clothes in their daily routine.
Moreover, various technological innovations aimed towards raising apparel performance and comfort level are estimated to boost the market. Some technology advancements in fitness apparel include smart nanotechnology fabrics, which suppress the moisture and keep the wearer dry. In August 2017, DuPont Advanced Materials unveiled two garments based on DuPont Intexar, a smart athletic clothing technology at Salt Lake City, Utah, U.S. Both garments possess capabilities to collect real-time body data such as real-time ECG based upon the wearer’s activities. Nonetheless, availability of low quality apparel or counterfeits in the market is limiting the sale of authentic, branded fitness apparels. Significant rise of e-commerce in developing countries including China and India is expected to present considerable opportunity for the market in the near future. E-commerce presents consumers with various options in terms of brands, fabrics materials, designs, and price range.
The global fitness apparel market can be segmented based on mode of sale, end-user, and region. Based on mode of sale, the market can be classified into retail stores and online stores. The online stores segment is likely to expand at a significant growth rate during the forecast period due the considerable rise of ecommerce. In terms of end-user, the market can be classified into men, women, and kids. Based on region, the global fitness apparel market can be segmented into North America, Europe, Middle East & Africa, Asia Pacific, and South America., Asia Pacific is expected to hold a major share of the global market during the forecast period due to emergence of Asia Pacific as a major manufacturing hub and the rise of e-commerce in the region.
Key players operating in the global fitness apparel market are Tommy Hilfiger Inc., Nike, Inc., UMBRO INTERNATIONAL, Fila, Inc., Ralph Lauren Corporation, New Balance Athletics, Inc.
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.