Fitness Wear Market Growth and Challenges

The global fitness wear market is expected to witness a significant growth in the coming years. This is primarily due to the increasing number of people joining gyms and taking up sports activities. The rise in awareness regarding the benefits of exercising regularly is also a major driving force for this industry. In addition, technological advances are enabling athletes to perform better and improve their overall health.

The market is segmented on the basis of product type, end-user, and geography. The product type segment includes apparel, shoes, and other accessories. The clothing segment is further divided into ready-to-wear, rashesguards, wet wear and swimwear, fashion outers, pants and t-shirts, and shoes. The footwear segment is further sub-segmented into sneakers and other types of sports footwear. The end-user segment includes men, women, and children. The men segment held the largest share in the market, mainly due to higher participation of men in physical activities. The women segment is growing at a rapid pace, mainly due to the rising popularity of yoga and other exercise-related activities. The growing integration of sports and fashion is enabling the development of stylish sportswear, which is likely to boost women’s interest in this market.

One of the key challenges in this market is the growing counterfeit products in the region, resulting in loss of revenue and brand damage to important players. According to a report by the Organization for Economic Co-operation and Development, counterfeit goods account for more than 3.3% of world trade. The rising counterfeit products are mainly in the form of footwear and apparel. The major reasons behind this include the rising population in the region, increasing consumer demand for high-quality sportswear, and a growing interest in sports.

Amid the pandemic, pure-play active brands have managed to keep up with sales by focusing on athleisure. This trend is allowing them to compete with major sportswear and athletic brands, including Nike, Adidas, and Under Armour. However, the growth of the athleisure industry will depend on the ability of retailers to sell more products in their stores and online.

In addition to this, the reopening of gyms and fitness centers will help in the revival of this market. This will encourage people to work out and exercise at home, thereby boosting the demand for sportswear and workout equipment.

In order to keep up with this changing lifestyle, the sportswear industry is constantly innovating and adding new features to their products. These innovations include incorporating smart technology in clothing, improving comfort by introducing moisture-wicking fabrics, and developing more lightweight garments. For example, a British start-up has developed riding shorts with artificial intelligence that can shape the muscles of cyclists and stimulate them by monitoring their performance. This is a great innovation in the world of fitness and could be very helpful for all the athletes around the globe. This will also allow the sportswear manufacturers to increase their profit margins. Moreover, the rising interest in cycling and yoga will further boost the market.