Rise of Digital Fitness Platforms Creates opportunities in the Active Wear Market; FMI Analysts Predict Market Valuation to Surpass US$ 917,959.7 million by 2034
Future Market Insights Global and Consulting Pvt. Ltd.
6 min read
Future Market Insights Global and Consulting Pvt. Ltd.
The active wear market is experiencing robust growth, driven by a surge in fitness consciousness and athleisure trends. Activewear is clothing designed to be worn for sports and other outdoor activities. It is made from moisture-wicking fabrics to absorb sweat and moisture and consequently keep the body temperature moderate. It is highly breathable, comfortable, lightweight, versatile, and helps prevent the odor of sweat
NEWARK, Del, March 11, 2024 (GLOBE NEWSWIRE) -- The active wear market is anticipated to surpass US$ 517,444.8 million in 2024 and is likely to attain a valuation of US$ 917,959.7 million by 2034. The active wear market size is projected to expand at a CAGR of 5.9% from 2024 to 2034.
Active wear businesses have excellent business prospects due to the growth of digital fitness platforms. Creating exclusive lines or collaborating with well-known fitness apps and virtual training programs represents a profitable move. This leverages the growing market of customers who value easy-to-use and efficient at-home workout options. In an ever-changing fitness environment, brands can establish themselves as vital players by forming strategic alliances that boost sales and foster a mutually beneficial connection with the rapidly expanding digital fitness sector.
Sustaining relevance and appealing to style-conscious customers requires investing in fashion-forward designs and keeping up with changing trends. Brands can develop aspirational items that appeal to fashion-savvy consumers by utilizing contemporary colors, distinctive patterns, and imaginative designs. Aesthetic differentiation allows for higher pricing and a larger market share, increasing customer engagement and brand attachment. In addition to being aesthetically pleasing, fashion-forward designs are a tactical instrument for differentiating brands and preserving an edge over competitors in a fast-paced industry.
“Success in the ever-changing active wear market depends on three crucial factors: innovation, sustainability, and regulatory compliance. Customization and strategic alliances become essential tactics for influencing the market as consumer tastes change and sustainability gains importance. Businesses need to show agility in responding to changing customer demands to survive and grow in this competitive market, especially when it comes to environmentally friendly products.” -says Sneha Verghese, Senior Consultant for Consumer Goods and Products at Future Market Insights.
Key Takeaways from the Active Wear Market Report
The global active wear market size expanded at a 4.8% CAGR from 2019 to 2023.
The ready to wear segment holds 41.6% of market shares in 2024.
The women segment captured 48.2% of market shares in 2024.
The market size in the United States is projected to rise at a 3.2% CAGR through 2034.
The market size in Germany is anticipated to develop at a 1.9% CAGR through 2034.
The market size in Japan is estimated to surge at a 7.6% CAGR through 2034.
The market size in India is expected to increase at a 10.8% CAGR through 2034.
The active wear market is intensely competitive, with global behemoths like Nike and Adidas leading the way. These industry giants are always innovating to preserve market supremacy. Disruptive companies like Gymshark use direct-to-consumer methods and online channels to reshape conventional retail dynamics. Local businesses add diversity by promoting particular categories and sustainability. Collaborations with celebrities and the confluence of fashion and performance, as witnessed in the emergence of athleisure, drive up competitiveness.
Recent Developments
In January 2024, Tesco’s F&F Clothing introduced a new active wear range for 2024.
In January 2024, Alicia Keys launched an active wear collection in partnership with Athleta.
Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods.
Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, technology projects, and driving successful implementations. She has helped create insightful, relevant analysis of Food & Beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals.
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About Future Market Insights, Inc. (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
