Description
Global Functional Apparel Market Outlook 2030
Global Functional apparel Market; by Product Type (Protective Clothing, Sportswear, Active Wear, and Others); By Distribution Channel (Online and Offline); and Region –Analysis of Market Size, Share & Trends for 2016 – 2019 and Forecasts to 2030
Product Overview
Functional apparels are those which, besides just their aesthetics and simple wearer safety, feature and perform diverse uses. Various functional clothing styles are available on the market including athletic clothing, laboratory clothing, sports clothing, and medicinal clothing. Most customers find activewear comfortable and durable, due to the type of material used in designing such clothing or footwear.
Market Highlights
This report anticipates the Functional apparel market to surpass USD XX Billion by 2030, which is valued at XX billion in 2019 at a compound annual growth rate of XX%. According to the report, the world’s demand is characterized by rising demand for better output to protect people against heat, rain, wind and snow.
Furthermore, growing people’s health consciousness and a growing inclination to workouts that help combat various diseases are expected to fuel the growth of the market.
Functional apparel Market: Segments
Global market has been segmented on the basis of distribution channel, Product type and by location. It has been further segmented on the basis of region into North America, Europe, Asia-Pacific, Mid East and Africa.
By Distribution Channel (in %), global Functional apparel Market, 2019
The Offline segment is anticipated to register XX% of the volume share and is expected to grow at a highest CAGR.
Global Functional apparel Market is segmented by distribution channel into Online and Offline
The segment is expected to expand dramatically as customers increasingly tend to buy items from supermarkets for use in functional apparel, as the product material needs to be seen and should be suitable for ideal fit.
The simple and comprehensive availabilities in supermarkets of practical clothing items allow consumers to select a wide variety of goods. This is intended to contribute to the growth of the offline segment.
Global Functional apparel Market: Market Dynamics
Drivers
• Surging demand for active apparel
Functional clothing is also becoming increasingly important in the global market due to development in technology and the desire for people for enhanced results. Changing people’s lifestyles and an increasing desire to use active clothing are also anticipated to fuel demand for functional clothing in recent years.
Restraints
• High cost
A significant constraining factor on the market is the high price of clothes because of the use of advanced technologies to make the apparel lightweight and durable. In addition, over the next few years, product duplicity and availability of a counterfeit products, which lowers the actual brand’s consumer demand, will be a limiting factor in the global consumer.
Global Functional apparel Market: Regions
Asia Pacific was the largest market accounting for XX% of total market volume share in 2019
Asia Pacific led the global market for biodegradable mulch films with XX% of the overall demand in 2019. With fast industrialization and urbanization, The Asia-Pacific functional clothing market is expected to be raising significantly as the perception of healthy lifestyles increases.
Furthermore, the growing rate of young people’s participation in different sports boosts the demand for sportswear which in turn is anticipated to promote regional market growth. A strong production base, raw material availability and cheaper labor would create attractive opportunity to broaden the target market in the region.
Moreover, regional demand for functional apparels in European countries is also expected to increase as rising health consciousness and balanced workout culture among people of countries like Germany, United Kingdom, Brazil, etc for a healthy lifestyle is creating more demand for functional apparel like sports and other professional clothing.
Global Functional apparel Market: Key Players
• Nike
o Company Overview
o Business Strategy
o Key Product Offerings
o Financial Performance
o Key Performance Indicators
o Risk Analysis
o Recent Development
o Regional Presence
o SWOT Analysis
• Adidas
• PUMA
• Reebok
• Asics Corporation
• Jockey International
• Umbro
• Russell Brands, LLC.
• Under Armor
• PVH Corp.
• Ralph Lauren
• Amer Sports
• Other prominent players
The global Functional apparel market report also contains analysis on:
• Functional apparel Market Segments:
o By product type:
Protective Clothing
Sportswear
Active Wear
Others
o By Distribution channel:
Online
Offline
• Functional apparel Market Dynamics
• Functional apparel Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies Involved in the Market
• Value Chain of the Market
• Market Drivers and Restraints
The global bicycle apparels & accessories market to record a CAGR of 5.05% during the forecast period
