Increasing Popularity Of Women Sports To Aid The Women’s Activewear Market Growth
According to a new market research report published by Credence Research “Women’s Activewear Market (Product Type – Topwear, Bottomwear (Shorts, Sweatpants, Skirts and Yoga Pants & Leggings), Outerwear (Jackets and Hoodies & Sweatshirts), Innerwear and Swimwear; Fabric – Nylon, Polyester, Cotton, Neoprene, Polypropylene and Spandex; Distribution Channel – Online and Offline; Price Range – Below US$ 20, US$ 20 – US$ 40, US$ 41 – US$ 60 and US$ 61 and above) – Growth, Future Prospects and Competitive Analysis, 2018 – 2026”, the women’s activewear market was valued at US$ 124.65 Bn in 2017 and will be growing at a CAGR of 8.2% during the forecast period from 2018 to 2026.
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The Women’s Activewear market was valued at US$ 124.65 Bn in 2017 and expected to be growing at a compounded annual growth rate (CAGR) of 8.2% during the forecast period from 2018 to 2026. In recent years, participation of women in sports has grown manifold. Increasing media coverage for women sports is one of the important factors supporting the aforementioned sentence.
Various sports bodies too have played their part that have positively influenced the uptake of sports by women, which was evident from the fact that for the first time in history, the London 2012 Olympic Games, featured, an equal number of sports for women as for men. Similarly, in India, the “Khelo India” initiative has been a positive move from the government to encourage women to uptake sports.
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Moreover factors such as equal pay agreements, record audiences, and new media deals has been crucial factors encouraging women to consider sports as a serious profession. Furthermore, in order to maintain a healthy lifestyle, women are increasingly involved in activities such as jogging, exercising and yoga among others. These factors are complimenting the women’s activewear market growth.
Increasing internet penetration coupled with growing popularity of online shopping expected to make the online distribution channel the fastest growing segment during the forecast period. Moreover, online platforms offer various benefits such as ease of shopping and wide availability of options. Easy return policy and faster delivery are further supporting the growth of the online segment.
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In the coming years, Asia Pacific expected to emerge as the most lucrative market for investment for the manufacturers of women activewear. Rising net disposable income and changing lifestyle pattern are some of the most prominent factors aiding the women’s activewear market growth in the region. Countries such as India and China are expected to remain in the forefront in terms of this growth. Favorable government policy supporting the growth of sports in the region is an important factor complimenting the women’s activewear market growth in the region positively.
Key players profiled in the report include Adidas AG, Nike, Inc., Hanesbrands, Inc., Mizuno Corporation, ASICS Corporation, Columbia Sportswear Company, PUMA SE, Under Armour, Inc., Gap, Inc. and Skechers among others.