A new report by the Grand View Research estimates the global sustainable athleisure market will expand at a CAGR of 5.0 per cent from 2020 to 2027. The market is expected to reach $117.4 billion by 2027. Growth is likely to be driven by the growing popularity of sustainable clothing and activewear made using environmentally safe practices among the millennial population across the world.
The report says, manufacturers are launching new products with durable and high-quality material, which can be used in various activities, including yoga, cycling, running, mountain climbing, snowboarding, skiing, sailing, and other sporting activities, In 2019, the market accounted for nearly 64.0 per cent share of the overall revenue.
Of this, the offline segment accounted for 72.3 per cent share of the overall revenue with North America emerging as the largest revenue generator with a share of 34.1 per cent in 2019. Manufacturers focused on product innovation and new launches to stay abreast of the competition
According to the report, North America emerged as the largest regional segment for sustainable athleisure in 2019. The market is driven by the increasing demand for stylish and comfortable sportswear and the rising number of outdoor and fitness activities, such as camping and sports exhibitions, in the region. Moreover, the growing popularity of fashionable and comfortable clothing, such as puffer vests, is expected to create growth opportunities for the market over the forecast period.
