Functional Apparel Market By Product Type (Sportswear, Activewear, Protective Clothing, Others), By Application (Sports Industry, Outdoor Clothing, Healthcare, Others), By Distribution Channel (Offline, Online): Global Opportunity Analysis and Industry Forecast, 2023-2032
The global functional apparel market was valued at $345,621.4 million in 2022, and is projected to reach $623,234.5 million by 2032, registering a CAGR of 6.1% from 2023 to 2032.
Functional apparel performs multiple functions to provide comfort and protection to the wearer in different environments, unlike fundamental garments which have limited purpose. It incorporates a variety of specially developed fabrics and layered designs, which enable it to perform functions such as protection from radiation, fire, and extreme weather conditions. Consumers find activewear comfortable and flexible, which is attributed to the kind of material used to design such as Synthetic fabrics such as polyester, nylon, cotton, wool, and graphene. Polyester and nylon are the most used materials in athleisure apparels, which altogether tend to provide the best combination of the required properties.
Advancements in fabric technologies lead to more innovative and functional apparels, such as moisture-wicking, temperature-regulating, and odor-resistant fabrics, enhancing comfort and performance for consumers, thus driving market demand. The emergence of technologies such as membrane and nano spinning, which allow manufacturers to produce garments by reducing waste during production processes, delivers more sustainable products. Companies have increased investment in the smart textile industry, which has further introduced opportunities to develop more advanced functional clothing. This includes incorporation of electronic components in garments. Using these technologies, manufacturers deliver new functionality to the consumers, such as increase in durability and protection from abrasion. GRDXKN, which developed 4D printing technology that enables development of cloths with functions such as abrasion resistance, shock absorbent and light weight. This trend continues as companies are increasing investment in research and development, to set their products apart from competitors with more unique attributes.
The demand for functional apparel among the working population is rising, as it provides an easier way to transition from one activity to another. More people realize the time taken for changing clothes, especially in the areas such as hospitals where people must wear special clothes for hygiene and safety reasons, or in corporate spaces where formal wear is needed. According to Nicole Winhoffer, a fitness artist and coach, women prefer cloths that provide more convenience as it saves time and eliminates the need to for changing cloths again for different activities. Functional clothes offer an efficient way to change from activities like yoga or exercise to casual wear. This helps people in overcoming time concerns. It also reduces the need to spend extra money just to meet certain prerequisites in such activities.
The functional apparel market is segmented into product type, application, distribution channel, and region. By type, it is classified into sportswear, activewear, protective clothing, and others. As per application, it is divided into sports industry, outdoor clothing, healthcare, and others. On the basis of distribution channel, the market is categorized into online and offline. Region-wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, and rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
The players in the functional apparel market have adopted acquisition, business expansion, partnership, collaboration, and product launch as their key development strategies to increase profitability and improve their position in the market. Some of the key players profiled in the market analysis include Puma SE, Adidas AG, PVH Corp., Under Armour, Inc., Columbia Sportswear Company, VF Corporation, Nike, Inc., ASICS Corporation, lululemon athletica inc., and The Gap, Inc.
Key Benefits For StakeholdersThis report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the functional apparel market analysis from 2022 to 2032 to identify the prevailing functional apparel market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the functional apparel market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global functional apparel market trends, key players, market segments, application areas, and market growth strategies.
Key Market SegmentsBy Product TypeSportswear
Activewear
Protective Clothing
Others
By ApplicationSports Industry
Outdoor Clothing
Healthcare
Others
By Distribution ChannelOffline
Online
By RegionNorth America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
Russia
Rest of Europe
Asia-Pacific
China
Japan
South Korea
India
Australia
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market PlayersPuma SE
Columbia Sportswear Company
VF Corporation
PVH Corp.
The Gap, Inc.
Under Armour, Inc.
Nike, Inc.
Adidas AG
ASICS Corporation
Lululemon Athletica Inc.
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