The activewear market, comprising of several product categories such as footwear, sportswear, swimwear, and yoga wear, has seen healthy growth over the last half-decade. The rising popularity of activewear in day-to-day life has blurred the lines of activewear and fashion, spawning a new category of apparel, called 'athleisure'. Activewear itself, however, refers to clothing worn during exercise or specifically for physical activity. It is also known as sportswear or performance apparel.
In 2022, the
size of the global activewear market was estimated to amount to approximately 319 billion U.S. dollars. By 2027, this figure was forecast to increase by roughly 40 percent.
Women’s activewear is one of the fastest growing segments of the activewear market and is forecast to be worth 242.5 billion U.S. dollars in 2027.
Leading brands in the U.S.
Perhaps unsurprisingly for many, Nike was the
leading active apparel company worldwide by sales in 2022. That year, Nike generated more than 49 billion U.S. dollars in revenue. This was followed by adidas, whose revenue totaled approximately 22 billion U.S. dollars. In addition to this, Nike and adidas have the largest market capitalization of any sportswear companies. They even out-perform other major apparel brands such as H&M in that respect. Nike is second only to LVMH in the
market capitalization of all clothing companies worldwide. While these two companies dominate the activewear market, they are consistently challenged. In the United States alone, the
net revenue of lululemon, a Canadian sports apparel brand, more than quadrupled between the years of 2014 and 2022.
State of the U.S. activewear market
In 2022, the
sports and swimwear apparel market revenue in the U.S. was estimated to be worth approximately 67 billion euros. This is forecast to rise to over 85 million U.S. dollars by 2026. This increase is reflected in the
revenue growth of the performance sports apparel market in the U.S.. This segment saw significant growth of almost seven percent in 2022 and even more growth is forecast in the years to come, although at a more moderate rate.
The
athletic footwear market growth in the U.S. was expected to see similar trends, with steady growth forecasted which peaked 2022.
Consumer’s love for Nike
When it comes to consumers’ preferred sportswear brands,
Nike very often comes out on top. It ranked as the
most used sports and outdoor online shop in the U.S., as well as the
sportswear brand with the highest awareness among American consumers, followed by adidas and Puma. The high level of awareness of Nike is largely due to its extensive advertising campaigns, including the numerous sponsorship deals the company has with leading teams and athletes in the United States and worldwide.
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