Global Premium Apparel Market to 2029

Global Premium Apparel Market to 2029

Summary

This report offers an analysis of both the historic and forecast data of the global premium apparel market through to 2029. It provides a insights into key trends within the premium apparel market, alongside sales and growth across different regions and category groups. It also highlights key global premium apparel brands and their current competitive position.

Growth in the global premium apparel market slowed to 0.7% in 2024 from 4.6% in 2023, as lasting macroeconomic issues and high inflation impacted consumer demand. Footwear is expected to show the fastest forecast growth, rising at a 2024-2029 CAGR of 4.3%, driven by the success of premium running specialists such as On and HOKA. Asia-Pacific and Middle East & Africa are forecasted to showcase the strongest growths out to 2029, rising at 2024-2029 CAGRs of 5.6% and 4.4% respectively, due to rapid urbanization and a growing middle-class population. Lululemon remained the largest premium apparel brand in 2024, and gained further share thanks to international expansion and continued high demand for athleisure.

Key Highlights

• The premium apparel market will slightly outperform in the forecast years but remain overshadowed by value and luxury
• The long-lasting impacts of high inflation in the Americas and Europe will cause the regions to lose share in the forecast period
• Footwear has the fastest forecast growth, driven by the success of premium running brands

• Gain an understanding of the drivers and inhibitors in the global premium apparel market
• Understand where the demand lies within the global premium apparel market across categories, and brands, to allow you to maximise customer acquisition.
• Identify the key approaches brands are taking to stand out in the global premium apparel market, and how you can adapt these to fit your own business.