PUBLISHER: The Business Research Company | PRODUCT CODE: 1566725
PUBLISHER: The Business Research Company | PRODUCT CODE: 1566725
Luxury activewear consists of high-end athletic clothing and accessories designed for those who seek both style and performance in their active lifestyles. These garments are crafted for exceptional comfort and include performance-enhancing features and innovative technologies, such as moisture-wicking fabrics and ergonomic designs.
The luxury activewear market includes several main types, top activewear, bottom activewear, innerwear, swimwear, and outerwear. Top activewear refers to upper-body garments specifically designed for physical activities and exercise. Luxury activewear is made from a range of materials, including nylon, polyester, cotton, neoprene, polypropylene, and spandex, and is available through both online and offline stores. The market caters to various end users, including men, women, and children.
The luxury activewear market research report is one of a series of new reports from The Business Research Company that provides luxury activewear market statistics, including the luxury activewear industry global market size, regional shares, competitors with luxury activewear market share, detailed luxury activewear market segments, market trends, and opportunities, and any further data you may need to thrive in the luxury activewear industry. These luxury activewear market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The luxury activewear market size has grown strongly in recent years. It will grow from $5.88 billion in 2023 to $6.32 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth during the historic period can be attributed to several factors, increased health consciousness among consumers, greater fitness awareness, rising participation in sports and fitness activities, higher disposable incomes, growing demand for eco-friendly and sustainable luxury activewear, expanded distribution channels, and a rise in e-commerce and specialty stores.
The luxury activewear market size is expected to see strong growth in the next few years. It will grow to $8.46 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. The anticipated growth during the forecast period can be attributed to several factors, the rising influence of celebrity endorsements and social media on consumer preferences, innovative marketing strategies employed by luxury activewear brands, a growing emphasis on inclusive sizing and customization options, increasing popularity of high-intensity interval training (HIIT) and boutique fitness studios, and a heightened interest in outdoor activities and adventure sports. Key trends expected to emerge include advancements in eco-friendly materials, innovations in activewear production processes, the adoption of fabrics with advanced moisture-wicking, odor control, and temperature regulation properties, and the development of personalized activewear options.
The growth of the luxury activewear market is expected to be driven by the increasing participation in sports and fitness activities. This rise in participation is attributed to heightened health awareness, emerging fitness trends, advancements in fitness technology, social media influence, and government campaigns promoting physical activity. Luxury activewear supports these activities by combining high-performance materials, ergonomic designs, and stylish looks, enhancing athletes' comfort, support, durability, and motivation. For example, the Outdoor Participation Trends report by the Outdoor Industry Association (OIA) noted in June 2023 that the number of outdoor recreation participants grew by 2.3% in 2022, reaching 168.1 million compared to 164.2 million in 2021, which represents 55% of the U.S. population aged six and older. Thus, the increase in sports and fitness participation is fueling the luxury activewear market.
Key players in the luxury activewear market are focusing on developing premium casual athletic clothing that offers high-performance features. These premium garments provide stylish designs that enhance comfort, functionality, and versatility for both athletic and everyday use. For instance, in May 2024, Jennifer Sey, the former global brand president at Levi Strauss & Co., launched XX-XY Athletics, a line of premium casual athletic wear. XX-XY Athletics aims to deliver high-quality athletic apparel for both men and women while advocating for the preservation of women's sports integrity. The collections are designed to cater to active consumers and convey empowering messages.
In January 2024, BC Brands, a US-based luxury activewear company, acquired two significant US-based brands, Bandier and Carbon38, for an undisclosed amount. This acquisition is intended to improve BC Brands' operational efficiency and expand its market presence by combining the strengths of both brands. Bandier and Carbon38 are known for their fashionable luxury activewear, including leggings, sneakers, and workout apparel.
Major companies operating in the luxury activewear market are Nike Inc., Adidas AG, Gap Inc., PVH Corp., Puma SE, Lululemon athletica inc., Skechers USA Inc., Under Armour Inc., ASICS Corporation, Columbia Sportswear Company, Patagonia Inc., Reebok International Limited, Tory Burch LLC, Fabletics LLC, Mammut Sports Group AG, Sweaty Betty Limited, Outdoor Voices Inc., Norrona Sport AS, Carbon 38 Inc., PE Nation, Splits59, The Upside, Vaara, Live The Process
North America was the largest region in the luxury activewear market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the luxury activewear market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the luxury activewear market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The luxury activewear market consists of sales of yoga mats, resistance bands, foam rollers, gym bags, and weights and dumbbells. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Luxury Activewear Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on luxury activewear market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for luxury activewear ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The luxury activewear market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.