Driven by an Increase in Consumer Fitness and Health Consciousness, Fueling Desire for Stylish Yet Comfortable Clothing, the Global Athleisure Market is Forecasted to Cross US$ 450 Bn by 2028 says Ken Research Study.
Athleisure is a hybrid style of clothing that combines athleticism and leisure and is intended to be both comfortable and durable enough for active use. It is frequently worn during athletic events as well as in other places, such as the workplace, school, or other informal or social gatherings.
Ken Research shares 3 key insights on this high-opportunity market from its latest research study.
1. Advanced Features in Sports Apparel Have Increased the Market’s Growth Rate
According to Research estimates, the Global Athleisure Market – which was valued from around US$ 200 Bn in 2017 to nearly US$ 300 Bn by 2022 – is expected to grow further to more than US$ 450 Bn opportunity by 2028.
New products are being introduced by manufacturers that were manufactured with sturdy, long-lasting materials. Consumer interest has been piqued by the availability of sports apparel with improved features like moisture management, temperature control, and other performance-enhancing qualities that reduce the risk of injury and discomfort.
Due to all of these distinctive traits, customers are willing to pay more for these extra advantages. Thus, it has become more common for people to dress in sporting gear while enjoying their free time.
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2. Increasing Wellness Trend to Propel the Market Growth
Wellness has developed from a specialized lifestyle choice to a new status symbol and an industry-spanning expression of personal values that spans high-end travel, high-end beauty, and exercise. Streetwear athleisure trends, which are driven by modern affluent customers’ need to combine comfort and style, have had a big impact on luxury fashion. Luxury brands are releasing new athletic products including shirts, leggings, and shorts to capitalize on the rising athletic wear which is in turn benefiting the Global Athleisure Market as today’s wealthy shoppers require more luxurious clothing options that are both convenient and fashionable.
3. Increasing Product Sales of Counterfeit Products Impacted the Market Negatively
Consumer fraud in the form of product counterfeiting occurs when a product is sold under false pretences. Products that are unlawfully manufactured yet seem like the real thing are called counterfeits. These products are often of lesser performance, dependability, or durability. It is important to learn as much as possible about the marketplaces for luxury goods and counterfeit goods, as well as about the consumers in each of these areas. Due to the customer’s reliance on the seller’s information, which is susceptible to manipulation, many counterfeit items are bought online.
The Internet enables counterfeiters to market fraudulent items without first being examined by consumers. Therefore, if the product is presented online in an intricate and sophisticated fashion, it will positively affect users’ impressions of the legitimacy of items, which will enhance users’ readiness to buy online. This is, therefore, negatively impacting the market growth.
For more information on the research report, refer to the below link: