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.
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Research expert covering apparel industry and general merchandise