How wellness trends boosted demand for women’s sportswear and femtech innovations

Consumers are actively seeking brands and products that enhance both their physical and mental wellbeing.

The demand for women’s sportswear and femtech innovations is rising as consumers increasingly prioritise products that simplify their lives and optimise health, according to Euromonitor International.

The report said the global focus on wellness is directly benefiting the sportswear sector, projected to grow by 4% in 2024, outpacing the 2% growth expected in overall apparel and footwear. 

It added that the upcoming Paris 2024 Olympics, with its full gender parity, is also set to further elevate female sportswear sales, highlighting opportunities for brands to capitalise on increased participation and viewership in women's sports.

“Day-to-day stresses to financial pressures since the cost-of-living crisis, political uncertainties in Europe and the Middle East, and the climate change emergency have created a permanent state of crisis,” the report stated. “This is taking its toll on consumers everywhere, especially amongst female consumers and the younger cohorts.”

As per Euromonitor’s Voice of the Consumer: Health and Nutrition Survey, conducted January to February 2024, 39% of Gen Z individuals and 36% of millennials experience daily stress and anxiety.

Meanwhile, major sportswear brands are also actively targeting the female demographic. Puma's research into ACL injuries in women, Nike's Coaching HER initiative to empower young female athletes, and ASICS' campaign promoting exercise's mental health benefits exemplify this strategic focus.

In 2023, women’s sportswear accounted for $143b globally, constituting 36% of total sportswear sales, growing faster than men’s sportswear over the past five years.

Beyond sports, the rise of female-specific products spans functional drinks, smart wearables, fitness apps, and beauty endorsements. This trend underscores a broader consumer shift towards holistic health solutions supported by technology and scientific advancements.

Moreover, femtech, traditionally focused on fertility and pregnancy, is expanding into new areas of women's wellbeing and preventive health. 

As 50% of global female consumers used health-related phone apps in 2023, and 51% plan to increase spending on health and wellness, the market for femtech and female-specific health products is set for significant growth.

“As conversations around women’s bodies continue to evolve, more opportunities will arise for brands able to develop solutions tailored to female consumers, and those already investing in this today will be best positioned to thrive,” the report said.