03 October 2022
Douglas Insights is the world's first comparison engine for comprehensive market research reports. It has updated its comparison engine by adding Athleisure Market research reports, allowing market researchers, analysts, industry specialists, and companies to identify market trends, key drivers of growth, restrictions, obstacles, and future predictions. This digital platform enables researchers to compare and contrast various reports by Publisher Rating, List of Contents, Date of Publication, and Price by providing access to the most comprehensive range of private and public market reports.
Athleisure is a form of manufactured apparel that falls under the category of hybrid clothing that combines fashion, comfort, and style. This manufactured apparel is frequently worn for athletic activities and other formal settings, including offices, schools, and other informal social gatherings. It is worn by men and women looking for clothing options that are comfortable and aesthetically appealing.
The global athleisure market has experienced good growth in the past few years and is expected to prosper in the future. This market is expected to grow at a CAGR of 8.9% between 2020 and 2020.
The desire to live an active lifestyle while looking fit and comfortable inspires consumers to incorporate sports and fitness into their everyday routines. Thus, a change in market dynamics brought about by this growing desire among all age groups to be healthy has increased the demand for athleisure goods, one of the key factors driving the athleisure market. The increasing demand for yoga for fitness and mental health is also propelling the growth of this market.
Moreover, due to an increase in the working population and an overall increase in workload and working hours across all businesses, employees are seeking apparel options that are not stiff and uncomfortable. Thus, athleisure has become popular as it looks formal and comfortable enough to spend the whole day in. The growing demand for athleisure among millennials is also fuelling the growth of the athleisure market.
Another significant growth driver is the increase in online athleisure businesses that allow customers to order from anywhere in the world. Athleisure is also being endorsed and promoted by celebrities and political figures to encourage an active, fit and healthy lifestyle, another factor influencing the demand for athleisure. Rising demand for high-quality and comfortable clothing coupled with an increase in customers' middle-class and disposable income is driving the athleisure market.
Many brands are also offering discount schemes and gift cards to propel more revenue from the sales of these times. Furthermore, the increasing developments in the manufacturing processes of clothing and apparel craftsmen are creating significant business opportunities in the athleisure market.
However, the prevalence of copies and spin-offs in the market is a significant challenge for brands and manufacturers operating in this business. Since these copies are hard to recognize as fake and usually cost much less than the original products, customers increasingly prefer them over the original ones. Thus, this is a significant restraint hindering the growth of the athleisure market. Moreover, a rapid increase in raw material, fuel and labor costs also poses a challenge to this market's growth.
The existence of several counterfeit goods, which consumers might not be able to recognize as fake, has negatively impacted the expansion of the luxury athleisure sector.
Prominent players in the athleisure market include Hennes and Mauritz, Lululemon Athletica, Nike, Puma, Authentic Brands Group, Columbia Sportswear Company, and Under Armor. These leading businesses are continuously adopting merger and acquisition strategies to enhance their geographic presence.
As of 2021, the global market for plastics compounding was estimated to be $ 61.90 billion. However, the global market for plastics compounding is likely to reach $102.18 billion by 2030 with a CAGR of 5.7%.
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The value proposition canvas takes into account consumer gains and pains and develops solutions that the target audience would want to buy.
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