Global Luxury Activewear Market, By Product Type (Top Activewear, Bottom Activewear, Innerwear, Swimwear, Outerwear), Material Type (Nylon, Polyester, Cotton, Neoprene, Polypropylene, Spandex), Distribution Channel (Online Stores, Offline Stores), End User (Men, Women, Kids) - Industry Trends and Forecast to 2031.
Luxury Activewear Market Analysis and Size
The essential factors contributing to the growth of the global luxury activewear market in the forecast period include increasing health consciousness, rising disposable incomes, and the desire for premium quality and stylish activewear. As people prioritize fitness and seek fashionable yet functional apparel, luxury activewear brands experience growing demand for their high-end products.
Data Bridge Market Research analyses that the global luxury activewear market which was USD 5.30 billion in 2023, is expected to reach USD 8.13 billion by 2031, growing at a CAGR of 5.5% during the forecast period of 2024 to 2031. In 2024, the online stores segment will dominate the market due to the rising disposable incomes and increasing health and wellness trends. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Report Scope and Market Segmentation
|
Report Metric
|
Details
|
|
Forecast Period
|
2024 to 2031
|
|
Base Year
|
2023
|
|
Historic Years
|
2022 (Customizable to 2016-2021)
|
|
Quantitative Units
|
Revenue in USD Billion, Pricing in USD, Volumes in Units
|
|
Segments Covered
|
Product Type (Top Activewear, Bottom Activewear, Innerwear, Swimwear, Outerwear), Material Type (Nylon, Polyester, Cotton, Neoprene, Polypropylene, Spandex), Distribution Channel (Online Stores, Offline Stores), End User (Men, Women, Kids)
|
|
Countries Covered
|
U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa
|
|
Market Players Covered
|
Adidas AG (Germany), ASICS Corporation (Japan), Columbia Sportswear Company (U.S.), DICK's Sporting Goods Inc. (U.S.), Forever 21 (U.S.), Gap Inc. (U.S.), Nike Inc. (U.S.), Puma SE (Germany), PVH Corp. (U.S.), Skechers USA Inc. (U.S.), The North Face (U.S.), Under Armour Inc. (U.S.)
|
|
Market Opportunities
|
|
Market Definition
Luxury activewear refers to high-end athletic clothing and accessories designed for individuals seeking both style and performance in their active lifestyles. End users of luxury activewear include affluent consumers who prioritize premium quality, innovative design, and advanced materials in their workout attire. These individuals often engage in various fitness activities such as yoga, running, and gym workouts, and desire activewear that not only enhances their performance but also reflects their discerning taste and lifestyle choices.
Luxury Activewear Market Dynamics
Drivers
- Increasing Health Consciousness
As people become increasingly conscious of their health and well-being, there is a growing recognition of the benefits of regular exercise in maintaining a healthy lifestyle. This awareness prompts individuals to prioritize fitness activities as part of their daily routines. Consequently, there is a surge in demand for activewear that not only provides comfort and functionality but also reflects personal style preferences. Consumers seek out activewear that allows them to move freely during workouts while also looking fashionable. This trend drives the growth of the global luxury activewear market as brands respond to the evolving needs of health-conscious consumers with stylish yet functional apparel options.
- Rising Disposable Incomes of Consumers
As disposable incomes rise, consumers have more purchasing power to invest in premium products that align with their lifestyle preferences. With a greater emphasis on health and fitness, individuals prioritize activewear that not only enhances performance but also exudes style and sophistication. Higher discretionary spending enables consumers to opt for luxury activewear brands that offer superior quality, innovative designs, and advanced materials, providing both comfort and style. This increased willingness to invest in high-quality activewear drives growth in the luxury segment of the market as consumers seek out premium options that cater to their evolving tastes and preferences.
Opportunity
- Expansion into Emerging Markets
One opportunity in the global luxury activewear market is to tap into emerging markets such as China, India, and Brazil, where there is a growing middle class with increasing disposable incomes. By expanding into these regions, luxury activewear brands can access new customer bases and capitalize on the rising demand for premium fitness apparel.
- Collaboration with Influencers and Celebrities
The collaborations can help increase brand visibility, attract new customers, and enhance brand credibility. Influencers and celebrities often have a large and loyal following on social media platforms, making them powerful advocates for luxury activewear brands and driving sales through their endorsements.
Restraint/Challenge
- Counterfeiting and Brand Dilution
Counterfeiting and brand dilution are big problems for luxury activewear brands. This happens when fake copies of their products are made and sold, which damages the brand's reputation. Also, if the brand is seen everywhere and sold to everyone, it loses its specialness and doesn't seem as valuable to customers who want something exclusive and thus hampers the market.
This market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions. Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Recent Development
- In 2023, PUMA made significant strides in the global luxury activewear market by launching innovative collections that seamlessly blend fashion and performance. The brand introduced sustainable materials such as recycled polyester and organic cotton in its activewear lines, catering to environmentally conscious consumers. PUMA also expanded its collaborations with high-profile designers, reinforcing its position as a leader in stylish and eco-friendly activewear offerings
Luxury Activewear Market Scope
The market is segmented on the basis of product type, material type, end user, and distribution channel. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product Type
- Top Activewear
- Bottom Activewear
- Innerwear
- Swimwear
- Outerwear
Material Type
- Nylon
- Polyester
- Cotton
- Neoprene
- Polypropylene
- Spandex
End User
- Men
- Women
- Kids
Distribution Channel
- Online Stores
- Offline Stores
Luxury Activewear Market Regional Analysis/Insights
The market is analysed and market size insights and trends are provided by country, product type, material type, end user, and distribution channel as referenced above.
The countries covered in the market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa.
North America is dominating the global luxury activewear market due to its strong fitness culture, affluent consumer base, and the presence of leading brands such as Nike. These factors contribute to high demand and market penetration.
Asia-Pacific region exhibits the highest CAGR in the global luxury activewear market. This growth is propelled by a surge in disposable incomes, rapid urbanization, and a burgeoning interest in fitness and wellness, particularly among the expanding middle class, leading to increased demand for premium activewear brands and products across the region.
The country section of the report also provides individual market impacting factors and changes in regulations in the market domestically that impacts the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Luxury Activewear Market Share Analysis
The market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to market.
Some of the major players operating in the market are:
- Adidas AG (Germany)
- ASICS Corporation (Japan)
- Columbia Sportswear Company (U.S.)
- DICK's Sporting Goods Inc. (U.S.)
- Forever 21 (U.S.)
- Gap Inc. (U.S.)
- Nike Inc. (U.S.)
- Puma SE (Germany)
- PVH Corp. (U.S.)
- Skechers USA Inc. (U.S.)
- The North Face (U.S.)
- Under Armour Inc. (U.S.)
SKU-