The US market research institute Transparency Market Research forecasts an average annual growth rate of 5.6 percent for the outdoor market between 2022 and 2031.
Rise in Outdoor and Leisure Activities Drives Demand: The increasing number of people engaging in outdoor and leisure activities has boosted sales of outdoor products. While jeans and a cotton shirt used to suffice, special outdoor clothing is now being worn with increasing frequency for hiking, surfing, camping, mountaineering and other adventure sports, according to the authors of the study from the Transparency Market Research Institute.
Women and millennials want comfortable clothes
The growing acceptance of outdoor clothing for fitness activities among millennials has further influenced the outdoor clothing trend and fuels further growth potential. According to the forecast by the research institute, the need for better comfort and more convenience in leisure and adventure activities is growing, especially among millennials and women. This is exactly what outdoor brands have specialized in for years. Therefore, according to Transparency Market Research, the global value of the outdoor apparel market is expected to grow at a compound annual growth rate (CAGR) of 5.6 percent between 2022 and 2031.
Outdoor clothing becomes accessible to broader target groups
The study also found that the rise in outdoor activities has widened the way for new designs and functionalities. At the same time, interest in natural fibers is growing compared to purely synthetic materials. A blend of strength and elasticity are some of the key product attributes driving the popularity of natural fiber products in the outdoor apparel market, according to the study.
As highly functional materials become more affordable, this market will also grow and become more accessible. The authors of the study see a lot of potential, especially in Asia. European brands are already observing the market and using online channels to feel which products and concepts work. In this regard, e-commerce platforms have played a crucial role in increasing access to a variety of outdoor apparel products, the study continues. Here, however, counterfeiting also contributed to the fact that sales were lost.