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Industry Talk

Sustainable athleisure market to reach $117.4 billion by 2027

The market being driven by the growing popularity of sustainable clothing, made using environmentally safe practices among the millennial population.

29th November 2020

Knitting Industry
 |  San Francisco, CA, USA

Sports/​Activewear

The global sustainable athleisure market size is anticipated to reach USD 117.4 billion by 2027, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 5.0% from 2020 to 2027. The market is said to be driven by the growing popularity of sustainable clothing and activewear made using environmentally safe practices among the millennial population across the world.

The young generation as well as the working-class population demand not only a large variety of apparel, but also innovative designs and functionality, Grand View Research says. Manufacturers are launching new products with durable and high-quality material, which can be used in various activities, including yoga, cycling, running, mountain climbing, snowboarding, skiing, sailing, and other sporting activities, the publisher adds.

Key suggestions from the report include:

- By type, the mass segment accounted for nearly 64.0% share of the overall revenue in 2019

- In terms of distribution channel, the offline segment accounted for 72.3% share of the overall revenue in 2019

- North America held the largest revenue share of 34.1% in 2019

- Product innovation and new launches emerged as the key strategies deployed by the majority of market players to stay abreast of the competition

First-time buyers of sustainable athleisure intend to portray a specific image in society as people that are receptive to the concept of sustainability in clothing, Grand View explains. Manufacturers of sustainable athleisure principally target this set of shoppers in a bid to turn them into brand-loyal customers. Furthermore, most of these customers do not mind paying a premium for apparel that they value ethically as well as on the fashion front, it adds.

According to the report, North America emerged as the largest regional segment for sustainable athleisure in 2019. The regional market is driven by the increasing demand for stylish and comfortable sportswear and the rising number of outdoor and fitness activities, such as camping and sports exhibitions, in the region, Grand View says. Moreover, the growing popularity of fashionable and comfortable clothing, such as puffer vests, is expected to create growth opportunities for the market over the forecast period, the company says.

The market is largely fragmented, with both domestic and international players sharing the space and participants are expected to deploy investment, expansion, and product innovation as their key strategies to remain competitive in the coming years, the company concludes.

Grand View Research has segmented the global sustainable athleisure market based on type, product, gender, distribution channel, and region.

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