A report titled, ‘Activewear Market in India 2019’ by ResearchAndMarkets.com, says the activewear market is estimated to reach Rs 997.8 billion by 2024, expanding at a CAGR of ~13.59 per cent during the 2019-2024 period. The growth of this segment is expected to be facilitated by the increasing demand of sports-inspired or athletic casual footwear. Heightened awareness regarding fitness and wellness, coupled with celebrity-endorsement is expected to fuel the demand for activewear.
The activewear market in India has expanded due the growing participation of women and kids in sports activities and promotion of athleisure as casual wear. Rising popularity of online retail channels as a mode of distribution has further propelled market growth.
Based on product type, India’s activewear market is categorized as footwear, apparel, and other sports accessories segments. Headbands, hats, caps, and visors constitute the other sports accessories segment. Value-wise, in 2018, the footwear segment held the largest market share.
The Indian activewear market is dominated by foreign players like Adidas India, Decathlon Sports India, Nike India and Puma Sports India. Amid these international brands, domestic players also are striving to strengthen their footprint by offering products at a lower price range than their international counterparts for consumers in Tier-II and Tier-III cities.