The global Functional Apparel Market is forecast to reach USD 519.04 Billion by 2027, according to a new report by Reports and Data. The increase in health and wellness trend is one of the main influencing factors that has propelled the demand for explicitly athletic wear or sportswear items of various types of garments. Consumers around the world have been taking their fitness activity seriously into consideration by indulging in multiple sports and fitness activities.
The report discusses in detail the strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, corporate and government deals, product launches and brand promotions, and licensing agreements undertaken by the key players to gain a robust footing in the market. The Functional Apparel market research report also offers a thorough SWOT analysis and Porter’s Five Forces analysis to offer key insights into the company’s progress and position.
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Key Players:
Key participants include Nike Inc., Adidas AG, Asics Corporation, Hanes Brand Inc., Reebok, Jockey International Inc., Russell Brands LLC, PUMA S.E., Hugo Boss AG, and Columbia Sportwear Company, among others.
Further key findings from the report suggest:
- In North America, the professional athletic segment accounted for 46.2% of the revenue share in 2019 and is anticipated to grow from USD 46.81 billion in 2019 to USD 80.37 billion. This can be due to their changing lifestyle and increased participation in sports activities.
- Athletic footwear is designed to enhance comfort by reducing/eliminating injuries and aid in improving athletic efficiency. The increase in the occurrence of foot allergies and diseases drives the need for advanced features in athletic shoes and socks continuously. Textile industry manufacturers integrate cutting-edge technology into hosiery goods.
- The hypermarket/supermarket segment is responsible for a larger market share of functional apparel because most of the products/ services are conveniently available at a low rate in such stores. These stores promote the availability of practical fashion items, both branded and private label
- The rising need for eco-friendly products is intended to generate new opportunities for industry growth because of increasing health and environmental issues about many different kinds of fabrics. Technological developments such as anti-bacterial material, sweat-absorbent, and warmer clothing for cold climate are expected to see strong growth over the projected timeframe.
Market Segmentation:
Product Outlook (Revenue, USD Billion; 2017-2027)
- Sportswear
- Activewear
- Protective Clothing
- Footwear
- Others
Application Outlook (Revenue, USD Billion; 2017-2027)
- Professional Athletic
- Armature Athletic
- Others
Distribution Channel Outlook (Revenue, USD Billion; 2017-2027)
- Supermarkets
- Convenience Stores
- Online
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Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- U.S
- Europe
- U.K
- France
- Asia Pacific
- China
- India
- Japan
- MEA
- Latin America
- Brazil
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Identifying the basic business drivers, challenges, and tactics adopted:
- The report provides intrinsic details and fluctuating aspects that influence the commercial dynamics of the Functional Apparels market along with integral factors of the rise in the demand for the product have been mapped across vital geographical regions.
- An overview of the multifarious applications, business areas and the latest trends observed in the industry has been laid out by this study.
- Various challenges overlooking the business and the numerous strategies employed by the industry players for successful marketing of the product have also been illustrated.
- The research inspects the sales channels (indirect, direct, marketing) that companies have chosen for the primary product distributors and the superior clientele of the market.
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Functional Apparels Market2018 EmergingSize, Trends, Top Competitors, and Forecast to 2023 PREPARED BY MarketResearch Future (Part of Wantstats Research & Media Pvt.
Durability of a functional apparel refers to the serviceability of the fabric regarding strength, abrasion resistance, and resistance to degradation by chemicals and other foreign elements.
• The global functional apparels market has been divided, by end user, into men and women.
Functional Apparels Market 2018:Emerging Size, Trends,Top Competitors, and Forecast to2023
Functional Apparels Market 2018
Regional Analysis
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The global functional apparels market has been segmented by North America, Europe, Asia-Pacific, and the rest of the world.
Rising consumption of high calorie and fast food has aroused a sense of health consciousness among consumers of the region.
Several utilities offered by functional apparels include shape retention, comfort, ease of care, and safety.
Durability of a functional apparel refers to the serviceability of the fabric regarding strength, abrasion resistance, and resistance to degradation by chemicals and other foreign elements.
Furthermore, the design, material used, manufacturing, and the finish of a garment defines the aesthetic performance of functional apparels.Based on product type, the global functional apparels market has been segmented into protective wear, sportswear, laboratory wear, and others.
These factors are expected to boost the protective wear segment and register the highest CAGR during the forecast period.Browse Complete Report @ https://www.marketresearchfuture.com/reports/functional-apparels-market-7074The global functional apparels market has been divided, by end user, into men and women.
Large men population involved in gymnasium and other activities including cycling, golfing, skateboarding, and many more looking for comfort and style are expected to fuel the global functional apparels market during the forecast period.
Large number of men are employed in jobs involving high life risk such as real estate and factories manufacturing goods which require safety precautions at work are further boosting the global functional apparels market.
