According to Grand View Research the global sustainable athleisure market size was valued at USD 79.41 billion in 2019 and is expected to expand at a compound annual growth rate (CAGR) of 5.0% from 2020 to 2027. Rising awareness regarding physical fitness and personal grooming among millennials, coupled with their inclination toward sustainable development, is expected to be a key driving force to increasing product demand throughout the forecast period.
Sustainable athleisure is considered to be one of the key trends in the fashion industry as it combines comfort, style, and functionality. It brings together sports fashion, culture, and urban fashion. Over the past few years, a rising awareness about the importance of fitness has resulted in increased participation in sports and recreational activities.
Consumers are gradually adopting wellness and fitness activities as well as comfortable fashion clothing. Furthermore, corporates and workplaces are becoming more accepting of comfortable casual wear, such as sweatpants. In addition, the increasing number of recreational centers and fitness clubs in the workplace encourages employees to adopt athleisure products.
For instance, in January 2020, Redemption, an Italy-based brand, announced the launch of its sustainable athleisure wear collection ‘Athletix’. This is the most sustainable collection launched by the company, who enlisted the help of the sustainability and communications consultancy Eco-Age to drive substantial and meaningful change across its business.
The mass segment led the market and accounted for nearly 64.0% share of the global revenue in 2019. The mass market for athleisure wear is growing at a steady pace owing to numerous product launches by domestic and regional players. Moderate pricing for athleisure wear and the inclination of millennials toward sustainability bode well for the segment growth. Consumers prefer clothing that is comfortable, convenient, and fashionable at the same time and athleisure wear fits the criteria.
The shirt segment led the market and accounted for a 35.1% share of the global revenue in 2019. Whereas the men segment led the market and accounted for 57.5% share of the global revenue in 2019. The offline distribution channel led the market and accounted for 72.3% share of the global revenue in 2019. Consumers prefer purchasing sustainable athleisure wear from offline stores as they offer quality products in an exhaustive range of patterns, sizes, colors, designs, and materials. This is the primary factor in driving the segment growth.
Online distribution channels for the sale of sustainable athleisure are expected to witness the fastest growth from 2020 to 2027 owing to the increasing dependence of generation X, millennials, and generation Z on the internet. The growing online availability of athleisure wear that combines comfort and fashion and can help consumers make a style statement is also boosting the segment growth.