Fitness is a multi-billion dollar market. That includes everything from gym memberships to dietary supplements, and, of course, workout clothes. The global workout clothes market is so sizable that Future Market Insights has predicted it will reach 384.8 billion dollars by 2032, growing at a CAGR of 6.2 percent through 2032.
The valuation of the workout clothes market was 210.8 billion dollars in 2022. The projected growth to 384.8 billion dollars by 2032 is driven by the unique benefits of sportswear, including breathability, rapid drying, static resistance, heat resistance, and chemical resistance. The global COVID-19 pandemic had a detrimental influence on the workout clothes market with lockdowns and limitations on the number of customer store occupancies resulting in decreased workout sales. In addition, gyms were shut down for a large part of the COVID-19 pandemic, with many opening at limited capacity when lockdown restrictions slowly began getting lifted.
Since then, the market has been aided by the growing popularity of “smart sportswear,” which are athletic wear pieces that improve training, monitor performance, and offer real-time feedback. The trend of athleisure as casual work among younger populations is also aiding in sportswear’s growth.
Future Market Insights report found that increased physical activity engagement among the young and senior populations is also driving demand for workout clothes, boosting workout clothes market future trends and workout clothes market opportunities. However, there’s been an increase in the number of counterfeit items which is jeopardizing consumer safety and causing quality difficulties and brand harm for workout clothes market participants and workout clothes market share.
The United States is predicted to become a significant region in the workout clothes market due to the increased demand for workout clothes. The U.S. has seen an expansion in the number of public athletic events. Europe and Asia Pacific are also projected to add to income and surge workout clothes market opportunities.
Future Market Insights report had some key takeaways. Shorts, sweatshirts, hoodies, and tank tops are expected to grow at a CAGR of 4 percent through 2032. Polyester products will escalate in the workout clothes market’s material type sector through 2032. The United States dominates the global workout clothes market, accounting for 42.3 percent of total sales.
Even in Europe, where customers are less likely to wear athleisure pieces casually, the sportswear market is growing. This is due to the rise in the popularity of public sporting events in Europe. Asia-Pacific’s sportswear market is predicted to develop at the fastest rate due to an increase in youth engagement in sporting activities.
Despite the impressive growth expected in the sportswear market, it is still very competitive for brands. Household name brands like Adidas, Asics, Nike, Gap, Under Armour, and Puma. To compete in these burgeoning markets, these brands have begun using growth techniques, such as product releases, partnerships, and collaborations. Strategic long-term partnerships with popular sports teams is one approach brands are taking to help capitalize on growth.
As consumers' preferences toward athleisure only keep going strong, the sportswear market’s growth will continue exponentially. More product launches, collaborations, and mergers and acquisitions are on the way.
FAQs
The workout clothes market is anticipated to record a value of USD 238.2 billion in 2024. The industry is projected to witness a CAGR of 6.2% in the ten-year time frame. The revenue projection for workout apparel is going to be USD 434.7 billion by 2034.
What is the forecast for the sportswear market? ›
The global sportswear market size was valued at USD 182.01 billion in 2022 and is projected to grow from USD 193.89 billion in 2023 to USD 305.67 billion by 2030, exhibiting a CAGR of 6.72% during the forecast period. North America dominated the sportswear market with a market share of 45.62% in 2022.
What is the future of the sports apparel industry? ›
The global activewear industry was worth USD 303.44 billion in 2021. It's expected to grow at 5.8% yearly until 2028 8. This growth shows how important Gen Y consumers are. They're changing how sportswear brands market products and engage with customers.
What are the future trends for activewear? ›
Athleisure trends for 2024 will be anything but boring, featuring neon hues, abstract patterns, and animal prints. This trend will allow individuals to express their personalities by choosing activewear with vibrant colors, geometric shapes, and bold graphics.
What is the growth rate of the sportswear industry? ›
Sportswear Market Insights
Global Sportswear Market size was valued at USD 170.94 billion in 2019 and is poised to grow from USD 182.22 billion in 2023 to USD 323.9 billion by 2031, growing at a CAGR of 6.6% in the forecast period (2024-2031).
What is the forecast for the apparel industry? ›
In 2024, the revenue in the Apparel market worldwide is estimated to reach a staggering US$1.79tn. This market is projected to experience an annual growth rate of 2.81% between 2024 and 2028 (CAGR).
What are the current trends in the sportswear market? ›
Brands need to adapt to this trend, using digital marketing and e-commerce channels to reach consumers more effectively and improve sales efficiency. In summary, the latest developments in the sportswear industry show a diversified, personalized, environmentally friendly, and e-commerce trend.
What is the future of the sports industry? ›
From league expansion to AI-driven fan experiences to new trends in sports consumption, 2024 is going to be an exciting year for the industry. Artificial intelligence is revolutionizing the sports industry by enabling personalization for fans at scale.
What is the outlook for sports apparel? ›
The global sports apparel market was estimated to generate around 213 billion U.S. dollars in revenue in 2023. Revenues are forecast to increase and reach around 294 billion U.S. dollars in 2030.
What is the CAGR of the sports apparel industry? ›
The global sports apparel market size was valued at USD 203.26 billion in 2023 and is projected to grow from USD 211.57 billion in 2024 to USD 298.06 billion by 2032, exhibiting a CAGR of 4.38% during the forecast period. North America dominated the sports apparel market with a market share of 39.56% in 2023.
Fitness Industry Growth and Membership Surge
The fitness industry is growing at a rate of approximately 8.7% per year, with a projected market value of $96.6 billion by 2024. In addition, the global number of health and fitness club memberships is projected to reach 230 million by 2023.
What is going to be the future of clothing? ›
The future of fashion will incorporate a wardrobe that not only cares about aesthetics but also ethical practices and the environment in mind. Eco-friendly fabrics and cruelty-free materials are no longer just buzzwords but pillars supporting the foundation of conscientious style.
What is the future of the athleisure market? ›
Athleisure Market Size & Trends
The global athleisure market size was estimated at USD 358.07 billion in 2023 and is projected to grow at a CAGR of 9.3% from 2024 to 2030. The growing enthusiasm for sports and outdoor recreational activities among the young population is expected to drive up the demand for athleisure.
What is the forecast for sportswear? ›
In terms of revenue, the global sports apparel market size was valued at around USD 200.56 billion in 2022 and is projected to reach USD 332.93 billion, by 2030. The sports apparel market is projected to grow at a significant rate due to the increasing investments in the sports sector.
What is the projected growth of the sports industry? ›
Total revenue in the Sports market is projected to reach US$2.65bn in 2022. Total revenue is expected to show an annual growth rate (CAGR 2022-2027) of 9.66%, resulting in a projected market volume of US$4.18bn by 2027.
Who dominates the sportswear industry? ›
Nike not only became the biggest sportswear company in the world, but the biggest clothing company of any kind. It began life around 15 years later than Adidas but is now more than twice as big in revenue terms and worth almost three times as much by market capitalisation.
What is the forecast for apparel market size? ›
The Apparel Market size is expected to reach USD 1.36 trillion in 2024 and grow at a CAGR of 4.63% to reach USD 1.78 trillion by 2029.
What is the outlook for the clothing industry? ›
Revenue in the Fashion Market is projected to reach US$770.90bn in 2024. Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 8.94%, resulting in a projected market volume of US$1,183.00bn by 2029.
What is the global sportswear market outlook? ›
THE GLOBAL SPORTSWEAR MARKET IS EXPECTED TO REACH USD 635.69 BILLION BY 2028 FROM USD 425.37 BILLION IN 2022, GROWING AT A CAGR OF 6.93% DURING THE FORECAST PERIOD. Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast 2023–2028.
What is the target market for sportswear? ›
Key Market Segments
Performance sportswear is designed for athletes and sports enthusiasts who require high-performance clothing that is breathable, moisture-wicking, and provides support.
