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Future Market Insights predicts exponential growth for sportswear and workout clothes

By Kristopher Fraser

Oct 7, 2022

Business

Photo Credits: Desigual x Monsieur Christian Lacroix, colección cápsula athleisure para la temporada Otoño/Invierno 2021/2022.
Fitness is a multi-billion dollar market. That includes everything from gym memberships to dietary supplements, and, of course, workout clothes. The global workout clothes market is so sizable that Future Market Insights has predicted it will reach 384.8 billion dollars by 2032, growing at a CAGR of 6.2 percent through 2032.

The valuation of the workout clothes market was 210.8 billion dollars in 2022. The projected growth to 384.8 billion dollars by 2032 is driven by the unique benefits of sportswear, including breathability, rapid drying, static resistance, heat resistance, and chemical resistance. The global COVID-19 pandemic had a detrimental influence on the workout clothes market with lockdowns and limitations on the number of customer store occupancies resulting in decreased workout sales. In addition, gyms were shut down for a large part of the COVID-19 pandemic, with many opening at limited capacity when lockdown restrictions slowly began getting lifted.

Since then, the market has been aided by the growing popularity of “smart sportswear,” which are athletic wear pieces that improve training, monitor performance, and offer real-time feedback. The trend of athleisure as casual work among younger populations is also aiding in sportswear’s growth.

Future Market Insights report found that increased physical activity engagement among the young and senior populations is also driving demand for workout clothes, boosting workout clothes market future trends and workout clothes market opportunities. However, there’s been an increase in the number of counterfeit items which is jeopardizing consumer safety and causing quality difficulties and brand harm for workout clothes market participants and workout clothes market share.

The United States is predicted to become a significant region in the workout clothes market due to the increased demand for workout clothes. The U.S. has seen an expansion in the number of public athletic events. Europe and Asia Pacific are also projected to add to income and surge workout clothes market opportunities.

Future Market Insights report had some key takeaways. Shorts, sweatshirts, hoodies, and tank tops are expected to grow at a CAGR of 4 percent through 2032. Polyester products will escalate in the workout clothes market’s material type sector through 2032. The United States dominates the global workout clothes market, accounting for 42.3 percent of total sales.

Even in Europe, where customers are less likely to wear athleisure pieces casually, the sportswear market is growing. This is due to the rise in the popularity of public sporting events in Europe. Asia-Pacific’s sportswear market is predicted to develop at the fastest rate due to an increase in youth engagement in sporting activities.

Despite the impressive growth expected in the sportswear market, it is still very competitive for brands. Household name brands like Adidas, Asics, Nike, Gap, Under Armour, and Puma. To compete in these burgeoning markets, these brands have begun using growth techniques, such as product releases, partnerships, and collaborations. Strategic long-term partnerships with popular sports teams is one approach brands are taking to help capitalize on growth.

As consumers' preferences toward athleisure only keep going strong, the sportswear market’s growth will continue exponentially. More product launches, collaborations, and mergers and acquisitions are on the way.

Sportswear