According to the latest report by IMARC Group, titled, “Functional Apparel Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“, The global functional apparel market reached a value of US$ 327.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 504.1 Billion by 2027, exhibiting a CAGR of 7.63% during 2022-2027.
Functional apparel refers to garments that can perform multiple functions. They are made by using comfortable and flexible materials, such as polyester, nylon, and viscose, that ensure workability, comfort, and desired functional performance. Manufacturers incorporate replicable technologies that protects the end-product against temperature fluctuations, ultraviolet (UV) light, microbes, while blocking radiations. Consequently, they are extensively utilized to manufacture medical, leisure, and sports clothing.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
The rising health consciousness and the increasing inclination toward physical fitness activities are primarily escalating the demand for functional apparel across the globe. In line with this, continuous brand collaborations with fitness influencers to create awareness regarding the health benefits of an active lifestyle are further catalyzing the market growth. Moreover, the use of engineered fabrics in functional apparel protects the wearer against environmental conditions, chemicals, and radiations, which, in turn, is fueling their demand across the construction and mining sectors. Rapid technological advancements and the introduction of innovative product variants, such as clothing made from nano and microfibers with comfortable padding, are further creating a positive outlook for the market.
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Global Functional Apparel Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Adidas AG, ASICS Corporation, Columbia Sportswear Company, Gap Inc, Lululemon Athletica, Nike Inc., Puma SE (Artemis S.A), PVH Corp., Under Armour Inc and VF Corporation.
The report has segmented the market on the basis on product type, application and distribution channel.
Sports Wear Active Wear Protective Clothing Others
Sports Industry Outdoor Clothing Healthcare
Supermarkets and Hypermarkets Convenience Stores Online Stores Others
North America: (United States, Canada) Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others) Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others) Latin America: (Brazil, Mexico, Others) Middle East and Africa
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Key highlights of the report:
• Market Performance (2016-2021) • Market Outlook (2022- 2027) • Porter’s Five Forces Analysis • Market Drivers and Success Factors • SWOT Analysis • Value Chain • Comprehensive Mapping of the Competitive Landscape
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