Functional Apparel Market Statistical Graph, Financial Overview, Landscape and Business Trends 2019 – 2027
The global functional apparel market is anticipated to clock an impressive 13.5% CAGR during the forecast period between 2019 and 2027. At this pace, the market will be valued at US$ 892.4 bn by the end of 2027.
Major brands such as NIKE, Puma, Adidas, and Mizuno offer application-specific footwear and apparels. Functional apparels can be classified based on type of sport and application. 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, states Transparency Market Research in a new report. 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.
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Demand Of Scientific Principles for Product Manufacture
The growing prevalence of skin allergies and food 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 apparel 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.
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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.
The review presented in based on the findings of a TMR report, titled “Functional Apparel Market (Type – Sportswear, Outdoor Clothing, Innerwear (Athletic, Non Athletic), Footwear (Athletic, Non-Athletic), Socks (Athletic, Non-Athletic), Swimwear (Athletic, Non-Athletic); Fabric – Conventional Fabric (Polypropylene, Cotton, Bamboo, Wool, Polyester), Specialty Fabric (Neoprene, Spandex); Finishing – Water Resistant, Anti-microbial, Wicking, Stain Resistant, Others) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019– 2027
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Published Tue, 12 Jul 2022 12:49:54 -0500