The global athleisure market is booming, and India is a key player in this growth story. With a projected CAGR of 5.2 per cent, the Indian athleisure market is estimated to reach Rs 24,800 crore ($3.2 billion) by 2032,as per a new report by Allied Market Research. This growth is driven by several factors, including a growing health and fitness consciousness, rising disposable incomes, and a booming young population.
Statista predicts the sports and athleisure retail market in India to grow to Rs 402 billion by 2025. Meanwhile, India’s sports equipment, footwear, and apparel market, which includes athleisure, reached Rs 218 billion in 2022 fiscal, a significant growth of 122.5 per cent from 2015. So what is driving this market’s growth.
Post Covid, Indians have become increasingly aware of the importance of a healthy lifestyle. This has led to a rise in gym memberships, participation in sports activities, and overall fitness awareness. Athleisure wear, known for its comfort and functionality, caters perfectly to this trend.
India has a large young population who are driving the demand for trendy and stylish clothing. Athleisure wear bridges the gap between activewear and casual wear, offering both comfort and style, making it a popular choice for this demographic.
The rise of online shopping platforms has made it easier for consumers across India to access a wider variety of athleisure brands and products. This convenience is further pushing up market growth.
Currently, the women’s segment holds majority share of Indian athleisure market driven by a growing focus on fitness and a wider variety of stylish options available. However, the male segment is expected to witness the fastest growth in coming years, with athleisure apparel like bomber jackets and casual trousers gaining traction.
As far as products go, sneakers are currently the most popular athleisure product category in India. However, hoodies are expected to see the highest growth rate in the future, driven by the variety of stylish options available, reveals Allied Market Research Report on Athleisure Market study.
Traditionally, offline stores have been the primary channel for athleisure purchases in India. However, online sales are rapidly growing due to factors like convenience and wider product.
Meanwhile, several Indian athleisure brands are making a name for themselves in the market. For instance, Delhi-based Alcis Sports offers high-quality, performance-oriented athleisure wear at competitive prices. Their focus on innovation and design has helped them capture a loyal customer base. Alics’ success story highlights the potential for domestic brands to thrive in the Indian athleisure market.
The surging popularity of e-commerce platforms, especially in Tier-II and III cities, presents a significant growth opportunity for athleisure brands to reach a wider audience.
India’s advantage in textile procurement and manufacturing can help brands offer competitive pricing and cater to the domestic market effectively.
The presence of counterfeit athleisure brands, especially online, can hinder market growth and damage brand reputation.
The athleisure market in India has a lot of potential. As disposable incomes rise and health consciousness strengthens, demand for athleisure is expected to continue growing. Brands that can adapt to evolving trends cater to diverse segments, and leverage the power of e-commerce will be well-positioned to capitalize on this dynamic market.
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