Functional Apparel Market (By Type: Active wear, Sportswear, Protective Clothing; By Application: Outdoor Clothing, Sports Industry, Healthcar; By Sales Channel: Online, Convenience store, Supermarkets/Hypermarkets) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 – 2027

The global functional apparel market size is projected to reach around US$ 550 Bn by 2027 and is anticipated to grow at a CAGR of around 7.4% in terms of revenue during the forecast period 2020 – 2027.

Report coverage

Functional apparel consists of a wide variety of fabrics, preferably designed to provide the end-users with specific features such as free plunge, simple action, fast-drying etc. This apparel is used to guard from harsh weather temperatures during outdoor events such as camping. It defends against risks in the workplace, for example in a scientific laboratory where specific diagnostic experiments are conducted.

The report provides an analysis of the global functional apparel market for the period 2016-2027, wherein 2020 to 2027 is the forecast period and 2019 is considered as the base year.

Market Insights

The worldwide demand for functional apparel is projected to witness substantial growth owing to the rising engagement in exercise and sports events due to enhanced health consciousness of the global population. These clothes can help athletes keep their sweat dry. In fact, the rise in available wages and increasing habits along with augmented urbanization lead greatly to the functional clothing industry. However, due to their lightweight and reliability, the high costs of this apparel can to some degree restrict this demand. The functional clothing industry has significant opportunities to produce higher quality goods and more efficiently meet customer’s demands with major technological advancements.

Regional Stance

North America held significant market share in 2019. Major driving factors of development in the North American region are a growing movement towards a fit body and a healthier lifestyle. The rise of the market has an impact on expanded baby boomer’s involvement in health and physical activity. The rise in American young people's interest in athletics and their greater commitment in athletics and health programs are also driving demand development in the country. Moreover, an increasing number of people who choose to lead a healthy lifestyle and engage in sports and wellness programs support the business growth. Technological advancement in design has contributed to improved exercise and sports enthusiast’s convenience and performance. A large number of young consumers follow functional apparel fashion, owing to the trendy features of fitness wear and the benefits such as resistance to smell, wrinkle resistance, and comfort. Activewear has therefore established in North America as a dominant style statement and pattern. Europe is predictable to witness considerable growth in the global practical apparel market due to improved understanding of health and fitness.

Report coverage

The market research study on “Functional Apparel Market (Functional Apparel Market By Type: Active wear, Sportswear, Protective Clothing; Functional Apparel Market By Application: Outdoor Clothing, Sports Industry, Healthcare; Functional Apparel Market By Sales Channel: Online, Convenience store, Supermarkets/Hypermarkets) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027” offers detailed insights on the global Functional Apparel market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report also provides competitive landscape to understand the current stance of particular player. The report covers global Functional Apparel market size, and segment markets by type, application, sales channel, and geography along with the information on companies operating in the market. The Functional Apparel market analysis is provided for major regional markets including North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. For each region, the market size for different segments has been covered under the scope of report.  

The global Functional Apparel market is segmented as below:

Market Segmentation

Functional Apparel Market By Type

• Activewear
• Sportswear
• Protective Clothing

Functional Apparel Market By Application

• Outdoor Clothing
• Sports Industry
• Healthcare

Functional Apparel Market By Sales Channel

• Online
• Convenience store
• Supermarkets/Hypermarkets

Functional Apparel Market By Geography

North America

• U.S.
• Canada

Europe

• UK
• Germany
• France
• Spain
• Rest of Europe

Asia-Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America

• Mexico
• Brazil
• Rest of Latin America

Middle East & Africa

• GCC
• South Africa
• Rest of MEA

Key Players and Market Situation

Participants include major global players such Adidas, Calvin Klein, Asics Corporation, HanesBrands Inc., Icebreaker, Head, Jockey International, Nike Inc., MIZUNO Corporation, and Others. In order to gain a greater market share, businesses are designing new goods according to the current customer expectations for fashion and health.