Today, fashion has made its place everywhere. From the dreadfully necessary masks to the pocket squares in your suit, everything has been touched by fashion - even sports!
Activewear is the latest popular trend in the fashion industry for just this reason.
If we take a closer look, we can see that a revolution in how people dress is underway. Today, appearances no longer matter the most. It makes sense that sportswear has evolved into an alluring and fascinating topic as comfort and usefulness become more and more important considerations in apparel selection.
In this article, we'll discuss activewear in further detail and examine what it actually revolves around.
What is Activewear?
Simply put, activewear is clothes made to be worn when you're engaged in physical activity, as when you exercise or play sports. Unique fabrics and materials are frequently used to make these pieces of clothing more breathable, flexible, and supportive.
The market for activewear, which includes a number of product categories such footwear, athletics, swimming, and yoga wear, has grown steadily over the past five years. A new type of clothing known as "athleisure" was created as a result of the blurring of the lines between fitness and fashion due to the growing popularity of sportswear in daily life.
Despite last year's difficulties in the fashion sector, it appears that sportswear and athleisure brands have never been more successful. Leggings, sweatpants, and loungewear have fast evolved into essential components of our professional wardrobes as the majority of business meetings now take place at home in front of a laptop. The activewear industry has been predicted to grow at a CAGR of 5.8% according to Extrapolate bagging a 461.7 billion USD market by 2030.
How is Activewear Faring in Terms of Revenue Generation Across Different Geographies?
Activewear has been garnering different levels of acceptance and therefore differing revenue generation across geographies. Prominent revenue generation has been seen in the USA and UK though, with high disposable income in the region to consume these products.
Revenue Trends in the USA in Activewear Industry
Perhaps Unsurprising to many, Nike dominated the athletic goods industry in terms of revenue in 2021. Nike brought in more than 44.5 billion dollars in revenue throughout that year. Adidas came next, with sales of almost 24 billion dollars, as the company. Additionally, Nike and Adidas are the sportswear firms with the highest market valuation. In that regard, they even outperform other well-known clothing companies like H&M.
In terms of the market valuation of all clothing firms worldwide, Nike is only surpassed by LVMH. Even though these two businesses control the majority of the activewear market, they face ongoing difficulties. Between 2013 and 2021, the net revenue of Canadian sportswear company lululemon increased by more than fourfold in the United States alone.
Fitness-conscious consumers who look for proper gear and equipment for their physical activity are boosting the expansion of the sportswear business. In addition, 64% of American millennials and Generation Y said they purchased athletic shoes in 2021. This is because streetwear fashion is becoming more popular, which encourages people to wear activewear as part of their particular style. The majority of sportswear sales in the United States are made up of items for women.
The Millennial generation purchases the most sportswear, according to a September 2021 survey. In the past 24 months, nearly 60% of respondents who were born between 1980 and 1994 had purchased sportswear.
This would cover the period of the coronavirus pandemic, when many indoor activities were not possible, such as going to bars or the cinema, and people were spending a lot of time indoors due to lockdowns. Therefore, many people turned to sport and exercise for fun and a reason to get out of the house, which may have driven activewear sales.
Revenue Trends in the UK in Activewear Industry
Athleisure orders have increased 84% since the pandemic began, according to True Fit's Fashion Genome (via Direct Commerce), which examines data from 17,000 brands and 180 million True Fit users. In the U.K. alone, sales of women's athleisure bottoms were five times higher in December 2020 than they were in April 2020.
Additionally, sales order volumes for men's athletic wear were 20% higher than in 2019. Target, an American retailer, reportedly achieved $1 billion in sales for its recently introduced All in Motion athletic range.
Trends in Activewear Industry Propelling Multiple Marketing Styles
As influencers, brands frequently collaborate directly with certain athletes. Many sportsmen are able to provide high-quality material that gives buyers the impression that products are relevant.
We saw a definite propensity for their Media Impact ValueTM to consistently rise compared to the prior year, despite the fact that their performance and voice mix remain distinct. The Media Impact ValueTM generated by New Balance surged by 70%, followed by Gymshark (+34% YoY) and Lululemon (+22%), while Nike, Puma, and Reebok contributed 15% more Media Impact ValueTM than in 2019.
The statistics also revealed some significant new trends:
Athleisure is now embracing sustainability, a long-standing fashion trend. Consumers continue to seek out and purchase products made of strong, long-lasting, and high-quality materials, and many firms are working to close the gap between fashion and cutting-edge, practical ideas.
The company values inclusivity and diversity. Athleisure firms can win over customers by providing clothing for women of different body types and sizes.
Luxury brands can see a fresh business opportunity to expand their market share. Designers have started breaking into the sector, from Gucci to Stella McCartney, and I think they'll continue to either start their own performance lines or collaborate with other sportswear companies to release seasonal collections.
Communities now consist of on-demand classes. Athleisure companies have gotten more creative and developed on-demand offerings to deliver yoga, fitness, and wellness sessions to their customers' homes and create new communities for like-minded fans. Examples include Lululemon (with its yoga videos) and Alo Yoga (with its Alo Moves service).
To Surmise It
Activewear is popular among people of all ages, ethnicities, and socioeconomic statuses since it is stylish and in vogue. It is a unifying aesthetic that enables us to feel comfortable in our own skin, look amazing, and empowers us to face the day with a smile. If you haven't already, wearing activewear is strongly encouraged for all of your strenuous activities.
Inferring on the trends and revenue activities globally, the product is gaining ground rapidly with its smart, attractive, and comfortable nature. The growing acceptance of a healthy lifestyle is also a prominent factor that will determine the growth opportunities in this industry. Therefore, the trend of activewear is here to stay.
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