{"id":158741,"date":"2017-01-19T11:00:44","date_gmt":"2017-01-19T11:00:44","guid":{"rendered":"https:\/\/www.theindustry.fashion\/global-apparel-market-now-worth-1-7trn-thanks-to-athleisure-growth\/"},"modified":"2021-08-12T13:44:48","modified_gmt":"2021-08-12T13:44:48","slug":"global-apparel-market-now-worth-1-7trn-thanks-to-athleisure-growth","status":"publish","type":"post","link":"https:\/\/www.theindustry.fashion\/global-apparel-market-now-worth-1-7trn-thanks-to-athleisure-growth\/","title":{"rendered":"Global apparel market now worth $1.7trn thanks to athleisure growth"},"content":{"rendered":"<p>The global apparel and footwear market is now worth $1.7trn, having <strong>grown by 4% in 2016<\/strong>, according to new figures released by <a href=\"http:\/\/www.euromonitor.com\" target=\"_blank\" rel=\"noopener\">Euromonitor International<\/a>.<\/p>\n<p><!--more--><\/p>\n<p>However the 4% growth represents the <strong>weakest growth since the global economic downturn of 2008<\/strong> and would have been significantly weaker had it now been for the<strong> strong growth in sportswear<\/strong>, which was up 7% for the third year in a row.<\/p>\n<p>But it isn't just pure activewear that is driving the growth but rather \"sports-inspired\" clothing, said Bernadette Kissane, apparel and footwear analyst at Euromonitor International. \"Although performance\u00a0sportswear\u00a0takes the lead in terms of market size, valued at $78bn in 2016,<strong> sports-inspired is the\u00a0category\u00a0driving growth<\/strong>. Both sports-inspired\u00a0footwear\u00a0and\u00a0apparel\u00a0is growing at a rapid pace, registering 10% and 6% growth in 2016, respectively,\" she said.<\/p>\n<p>Growth in sports-inspired clothing, or so-called <strong>athleisure<\/strong>, is being witnessed in\u00a0emerging markets such as India and Thailand, as well as \"core\" markets such as the US which, despite its reputation as a performance-orientated market, is recording significant sports-inspired growth.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-99987\" src=\"https:\/\/www.theindustry.fashion\/\/wp-content\/uploads\/image004-1-300x192.png\" alt=\"Euromonitor Apparel\" width=\"739\" height=\"473\" \/><\/p>\n<p>Some industry commentators have suggested the athleisure bubble has burst but Kissane dismissed this. \"It seems the <strong>chatter around the demise of athleisure remains just that<\/strong>. Evolving from a trend that brands have dabbled in with capsule collections into a fully-fledged business opportunity, the continued strength of athleisure is highlighted by the launch of activewear brands such as <strong>Ivy Park<\/strong> and Tory Burch.\" she said.<\/p>\n<p>\"Furthermore,\u00a0sportswear\u00a0behemoths Nike and adidas continue to flex their fashion credentials by collaborating with designers such as Riccardo Tisci, Olivier Rousteing and Stella McCartney. With a wider selection and greater availability, <strong>sports-inspired products are gaining in popularity<\/strong> among a consumer base that seeks to incorporate sport-styled designs into their everyday wardrobe,\" Kissane added.<\/p>\n<p>Elsewhere the numbers revealed that <strong>menswear growth at 4% was still outperforming womenswear<\/strong>, while childrenswear was outperforming both in terms of percentage growth due to \"a mixture of macroeconomic and social trends\".<\/p>\n<p>Euromonitor predicts that apparel and footwear growth will continue with a\u00a0CAGR of 2% in constant value terms to 2021, however the <strong>era of robust growth following the last recession could be over<\/strong>. \"From <strong>Brexit and a Trump presidency<\/strong> to China\u2019s\u00a0new\u00a0normal (slower) growth, combined with an increasingly crowded market and consumer priorities shifting towards experience over consumption, 2017 will prove to be a challenging year for many,\" Kissane said.<\/p>\n<p><em>Image: Ivy Park<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p> [&hellip;]<\/p>\n","protected":false},"author":11,"featured_media":158010,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[9763,5,10585,6,10481],"tags":[9951,9928,46,11494,10285,9952,11139,11495],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - 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