The workout clothes market was valued at US$ 210.8 Billion in 2022 and is predicted to reach US$ 384.8 Billion by 2032, growing at a CAGR of 6.2% through 2032.
Workout clothes are a type of utility clothing that improves athletes’ performance during sports or fitness physical activities by enhancing body movement compared to ordinary clothing.
Furthermore, unique benefits of sportswear, such as breathability, rapid drying, static resistance, heat resistance, and chemical resistance, increase consumer acceptance, hence pushing the workout clothes market growth and workout clothes adoption trends.
Adopting the same is expected to influence potential workout clothes market trends and forecasts positively.
The worldwide workout clothes market key trends & opportunities are expanding due to buyers’ rising disposable income and fitness consciousness.
The Coronavirus epidemic has had a detrimental influence on the workout clothes market since lockdowns and limitations on the number of customer store occupancy have resulted in a decrease in sales of workout clothes.
The growing popularity of smart sportswear, which is meant to improve training routines, monitor performance, and offer real-time feedback, represents a workout clothes market growth potential.
Due to the significant demand for workout clothes to engage in fitness or sports activities, the others (shorts, sweatshirts & hoodies, tank-top) segment produced the most income.
However, the workout clothes market is predicted to rise rapidly as the trend of athleisure as casual wear among the world’s youth population grows.
Polyester sector workout clothes market share is rising due to several benefits like fast-drying, enough stretch capacity, easy wash, wrinkle resistance, and chemical resistance.
Furthermore, increased physical activity engagement among the young and senior population drives demand for workout clothes, boosting workout clothes market future trends and workout clothes market opportunities.
However, an increase in the number of counterfeit items is causing consumer safety and quality difficulties and brand harm for important workout clothes market participants and workout clothes market share.
The United States is predicted to emerge as a significant region in the workout clothes market due to the increased demand for workout clothes. With the expanding number of public athletic events, Europe and the Asia Pacific are also projected to add to income and surge workout clothes market opportunities.
KEY TAKEAWAYS:
· The others (shorts, sweatshirts & hoodies, tank-top) section from the product type segment of the workout clothes market is expected to grow at a CAGR of 4% through 2032.
· Polyester segment will escalate in the workout clothes market’s material type sector through 2032.
· United States dominated the global workout clothes market, accounting for 42.3% of total sales.
· The rise in disposable income and rising living standards are likely to drive the growth of the LAMEA workout clothes market.
· Due to the popularity of sporting events, the European workout clothes market is expanding at a rapid pace.
· Asia-Pacific is predicted to develop at the fastest rate due to an increase in youth engagement in sporting activities.
COMPETITIVE LANDSCAPE:
Adidas AG, Asics Corporation, Columbia Sportswear Company, Dick’s Sporting Goods, Inc. Gap Inc., Nike, Inc., North Face, Inc., Phillips-Van Heusen Corporation, Puma Se, and Under Armour, Inc. are among the major legacy players that provide workout clothes solutions.
§ To increase their products in the workout clothes market trends, these vendors have used a variety of organic and inorganic growth techniques, such as new product releases, partnerships, and collaborations.
§ To extend their influence in the workout clothes market trends, these vendors have used a variety of organic and inorganic growth tactics.
Recent Development in the Workout clothes Market:
PRODUCT LAUNCH:
Global sports brand PUMA debuted the Royal Challenger Bangalore (RCB) workout clothes market collection in September 2021 as part of a three-year strategic collaboration agreement agreed with the franchise in March 2021.
Eastbay and Champs Sports announced the debut of a new garment line, Eastbay Performance, in September 2021.
Puma SE Inc announced the introduction of its sportswear range in collaboration with Cloud9 in October 2019.
COLLABORATION:
Kappa and Hyosung announced their collaboration in October 2020 to launch Kappa’s new K-Spirit e-sports workout clothes collection at the Tennent Global E-Sports Arena (TGA).
ACQUISITION:
Nike announced the purchase of Collect, a workout clothes statistics and demand sensing start-up located in Boston in August 2019.
These insights are based on a report on Workout Clothes Market by Future Market Insights