Premium Sportswear Market To Reach $174.33 Billion By 2030

Premium Sportswear Market Growth & Trends

The global premium sportswear market size is estimated to reach USD 174.33 billion in 2030 and is anticipated to grow at a CAGR of 8.5% from 2024 to 2030, according to a new report by Grand View Research, Inc. The rise in consumer health consciousness is a major driver behind the growing market. As awareness about the benefits of maintaining a healthy lifestyle increases, more individuals engage in physical activities such as running, yoga, gym workouts, and team sports. This trend spans older adults who are older age groups, and older adults increasingly adopting fitness routines to enhance their well-being. According to a report by the World Health Organization (WHO), the surge in regular physical activity over the past decade has fueled the demand for premium sportswear, which offers both performance and style.

The athleisure trend has significantly influenced the market by blending athletic apparel with everyday fashion. This trend, popularized among millennials and Gen Z, has made it fashionable to wear sportswear beyond the gym, emphasizing comfort and style. Premium sportswear brands like Nike, Adidas, and Lululemon have capitalized on this trend by offering high-quality, versatile collections that seamlessly transition from workout to casual settings.

Innovations in fabric technology and design have been pivotal in advancing the market. Manufacturers are continually developing advanced materials that enhance performance, such as moisture-wicking fabrics, anti-odor treatments, and temperature-regulating textiles. These innovations improve both comfort and functionality, making premium sportswear more appealing to consumers. For example, Under Armour's HeatGear and ColdGear lines are engineered to maintain comfort in extreme temperatures, while Nike's Dri-FIT technology effectively manages sweat to keep athletes dry.

The increasing emphasis on sustainability and environmental responsibility has influenced consumer preferences in the premium sportswear market. As consumers become more aware of the environmental impact of their purchases, they seek eco-friendly options. Premium sportswear brands are responding to this demand by integrating sustainable practices into their manufacturing processes and using eco-friendly materials. For example, Adidas' Parley collection features products made from recycled ocean plastic, while Nike's Move to Zero initiative aims to achieve zero carbon and zero waste across its supply chain. These sustainability efforts not only appeal to environmentally conscious consumers but also bolster brand reputation.

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Premium Sportswear Market Report Highlights

• Based on region, Europe is expected to grow at a CAGR of 8.7% from 2024 to 2030. There is a growing emphasis on health and wellness in many European countries, driven by increased awareness of fitness and an active lifestyle. This trend is leading to greater demand for premium sportswear that supports various fitness activities and offers enhanced performance and comfort.

• Based on product, the bottom wear segment is expected to grow with a CAGR of 9.1% from 2024 to 2030. As more people engage in activities like running, yoga, and gym workouts, there is a rising demand for high-performance bottom wear that offers durability and flexibility. Premium brands can meet these needs, leading to increased consumer interest in their products.

• Based on distribution channel, the online channel is expected to grow at a CAGR of 9.4% from 2024 to 2030. Online platforms often offer a broader selection of premium sportswear, including exclusive products, sizes, and styles that may not be available in physical stores. This variety enhances the shopping experience, allowing consumers to find the exact products that fit their preferences.

Premium Sportswear Market Segmentation

Grand View Research has segmented the global premium sportswear market based on the product, distribution channel, and region:

Premium Sportswear Product Outlook (Revenue, USD Million, 2018 - 2030)

• Top Wear

  • T-shirts & Tops

  • Hoodies & Sweatshirts

  • Jackets

  • Others

• Bottom Wear

  • Pants & Leggings

  • Shorts & Skorts

• Underwear/ Base Layers

Premium Sportswear Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)

• Online

• Sporting Goods Retailers

• Supermarkets & Hypermarkets

• Exclusive Brand Outlets

• Others

Premium Sportswear Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

• Asia Pacific

  • China

  • India

  • Japan

  • Australia & New Zealand

  • South Korea

• Central & South America

  • Brazil

• Middle East & Africa

  • South Africa

List of Key Players in Premium Sportswear Market

• Nike, Inc.

• Adidas AG

• Puma SE

• Under Armour, Inc.

• Lululemon Athletica Inc.

• Asics Corporation

• Columbia Sportswear Company

• New Balance Athletics, Inc.

• The North Face

• Reebok International Ltd.