The global functional apparel market is anticipated to grow at a CAGR of 13.5% during the forecast period 2021 to 2030 and witness value around US$ 895 bn by 2030. Major brands such as NIKE, Puma, Adidas, and Mizuno offer application-specific footwear and apparels.
Majorly fueling the growth of the functional apparel market is rising demand for high-performance, application-specific apparels and footwear coupled with the rising participation in sports and fitness activities. The rising interest in sports and fitness activities over the past years is a key factor driving the functional apparel market. The growing awareness of importance of health and fitness is likely to stir the demand for sportswear and footwear in the upcoming years.
Demand Of Scientific Principles for Product Manufacture
Growing prevalence of skin allergies and foot allergies is driving the demand for sweat absorption and anti-bacterial features in functional apparel. The adoption of scientific principles in the manufacture of functional apparels offer protection from heat, radiation, extreme cold, and chemicals. These attributes help functional apparel find special potential among technology-savvy users. Highly engineered athletic footwear helps in improving athletic performance and helps reduce injuries.
High Investment in Research & Development
Fabrics are made hi-tech by using chemicals and other methods, which are not eco-friendly. However, at present, consumers have become highly conscious about the environment. They demand eco-friendly performance clothing. In such a scenario, players operating in the functional apparel market have started research and development activities to introduce innovative performance apparels that are natural too. Some of the apparel manufacturers have started utilizing the potential of natural fibers such as bamboo-, soy-, and corn-based fibers for the same purpose.
Manufacturers are experimenting with organic and recycled fabrics and several of them have come up with green functional apparels made of organic and recycled fabrics. Recycled polyester is mostly used for this purpose. Conversely, a combination of recycled polyester and organic cotton is used for producing eco-friendly performance apparels. These fabrics can perform well even in highly demanding conditions such as extremely hot and humid climate and extremely cold climate.
Based on type of sport, they are classified into running shoes, volleyball shoes, etc. Functional apparels with advanced technology are commonly made of microfiber or polyester fabric that absorbs sweat from the body onto the fabric surface, where it evaporates. As a result, these apparels keep athletes dry and comfortable.
Similarly, all types of functional clothing are designed to provide heating and cooling effects as required. In case of cold weather, the apparel retains energy and resists heat loss. Functional socks feature anti-blister system, active odor control, and durability. They stay dry and comfortable for a long time. Increasing awareness regarding beneficial features of these functional apparels and footwear is drawing customers’ attention toward them instead of conventional clothing and footwear.
With the presence of a large number of players that offer application-specific products, the global functional apparel market is fragmented. Players in the market are investing substantially in innovative technology to introduce novel products that offer flexibility, durability, and comfort. Research and development to introduce eco-friendly fabric to serve the demand for eco-friendly performance clothing is also the focus of players in the functional apparel market. Such initiatives will help market players expand their brand into new categories.
In terms of type, the functional apparel market is divided into sportswear, outdoor apparel, footwear, socks, and innerwear. Among them, the footwear segment is anticipated to display faster growth rate over the forecast period.
In terms of region, the market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is one of the key region of functional apparel market. As individuals are adopting physical activity and fitness regimes, the demand for sportswear apparel and footwear with sweat-free, antimicrobial, and anti-odor features is anticipated to be on the rise in the region.
|Market Size||US$ 895 Billion by 2030|
|Growth Rate||CAGR of 13.5% from 2021 to 2030|
|Forecast Year||2021 to 2030|
|Segments Covered||Ptoduct, Fabrics, Finishing, Region|
|Companies Mentioned||Adidas, Asics Corporation, Calvin Klein, HanesBrands Inc., Head, Icebreaker, Jockey International, MIZUNO Corporation, Nike Inc., Puma SE, Russell Brands, LLC, Skechers USA Inc.,,Umbro, Under Armour Inc.|
This section of the report identifies various key manufacturers of the market. It helps the reader understand the strategies and collaborations that players are focusing on combat competition in the market. The comprehensive report provides a significant microscopic look at the market. The reader can identify the footprints of the manufacturers by knowing about the global revenue of manufacturers, the global price of manufacturers, and sales by manufacturers during the forecast period of 2017 to 2019.
The analysts have provided a comprehensive analysis of the competitive landscape of the global functional apparel market with the company market structure and market share analysis of the top players. The innovative trends and developments, mergers and acquisitions, product portfolio, and new product innovation expected to provide a dashboard view of the market, ultimately providing the readers accurate measure of the current market developments, business strategies, and key financials.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users) and other segments.
This report focuses on functional apparel market includes crucial information on market share, market size, and growth rate for the forecast period 2021 to 2030 at the global level, regional level and company level. From a global perspective, this report represents overall functional apparel market size by analyzing historical data and future prospect. The study highlights deep analysis on the major drivers of the market, restraints, and challenges to help the business owners, suppliers, and marketing personnel in planning effective strategies for the forecast period. This will help the business and manufacturers to lead the market and gain prominent position in future. The report also presents vital information through graphical representation on factors like table, charts, and statistics. The study includes drivers and restraints of the global functional apparel market.
The research not only conducts forecasts in terms of value, but also evaluates the market on the basis of essential parameters, such as Year-on-Year (Y-o-Y) growth. This helps providers to recognize the future opportunities as well predictability of the market.
In order to understand and assess opportunities in this market, the report is categorically divided into five key sections on the basis of segments. The report analyzes the global market in terms of value (US$ dollers) and volume (Million Units).
The research report includes specific segments by region (country), by company, by all segments. This study provides information about the growth and revenue during the historic and forecasted period of 2017 to 2030. Every segment is further sub-segmented into several sub-segmented that are deeply analyzed by experts to offer valuable information to the buyers and market players. Understanding the segments helps in identifying the importance of different factors that aid the market growth.
Major Key Points Covered in Report:
Executive Summary: It includes key trends of the functional apparel market related to products, applications, and other crucial factors. It also provides analysis of the competitive landscape and CAGR and market size of the functional apparel market based on production and revenue.
Production and Consumption by Region: It covers all regional markets to which the research study relates. Prices and key players in addition to production and consumption in each regional market are discussed.
Key Players: Here, the report throws light on financial ratios, pricing structure, production cost, gross profit, sales volume, revenue, and gross margin of leading and prominent companies competing in the Functional apparel market.
Market Segments: This part of the report discusses about product, application and other segments of the functional apparel market based on market share, CAGR, market size, and various other factors.
Research Methodology: This section discusses about the research methodology and approach used to prepare the report. It covers data triangulation, market breakdown, market size estimation, and research design and/or programs.
The research report includes a detailed study of regions of North America, Europe, China, Japan and Rest of the World. The report has been curated after observing and studying various factors that determine regional growth such as economic, environmental, social, technological, and political status of the particular region. Analysts have studied the data of revenue and manufacturers of each region. This section analyses region-wise revenue and volume for the forecast period of 2017 to 2030. These analyses will help the reader to understand the potential worth of investment in a particular region.
The report provides in-depth segment analysis of the global functional apparel market, thereby providing valuable insights at macro as well as micro levels. Analysis of major countries, which hold growth opportunities or account for significant share has also been included as part of geographic analysis of the functional apparel market.
The report includes country-wise and region-wise market size for the period 2017-2030. It also includes market size and forecast by segments in terms of production capacity, price and revenue for the period 2017-2030.
In this study, the years considered to estimate the market size of functional apparel are as follows:
The research methodology adopted by analysts for compiling the global functional apparel market report is based on detailed primary as well as secondary research. With the help of in-depth insights of the market-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts for the global market.
During the primary research phase, analysts interviewed market stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. Based on data obtained through interviews of genuine resources, analysts have emphasized the changing scenario of the global market.
For secondary research, analysts scrutinized numerous annual report publications, white papers, market association publications, and company websites to obtain the necessary understanding of the global functional apparel market.
The study objectives of this report are:
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