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Functional Apparel Market (Product Type - Sportswear, Active Wear, and Protective Clothing; Application - Sports Industry, Outdoor Clothing, and Healthcare; Distribution Channel - Online, and Offline): Global Industry Analysis, Trends, Size, Share and Forecasts to 2026

  • Published : July, 2020

  • Rep Id : ICT1453

  • Category : Electronics, ICT and Semiconductors

  • Status : Published

A recent report published by Infinium Global Research on functional apparel market provides in-depth analysis of segments and sub-segments in the global as well as regional functional apparel market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional functional apparel market over the short term as well as long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of the global functional apparel market. According to the report, the global functional apparel market is projected to grow at a healthy CAGR over the forecast period of 2020-2026.

 

Market Insight

Functional apparel is incorporated with functions of controlling or regulating according to its application. Functional apparel comprises all types of apparel or assemblies that are precisely designed to provide a pre-defined function to consumers, over its normal or usual functions. This contains protection under severe environmental conditions during work or sporting activities and protection against extreme hazards and surroundings. However, the current concern over the spread of coronavirus is expected to have a negative impact on the sales of functional apparel.

The COVID-19 epidemic has led to a sudden pause to manufacturing activities across the world, affecting the demand for apparel and also production & processing of them. Furthermore, the clothing industry is anticipated to witness less growth throughout 2020, as a result of the unprecedented supply chain disruptions due to the COVID-19 outbreak internationally. The projected decline in the global sales of clothing is attributable to massive supply chain disruptions across substantial export markets, counting China and India. Nevertheless, the industry is likely to recover over the forecast period, given the increasing popularity of online or e-commerce sales.

 

Nevertheless, over the long term, the growing health awareness among individuals and mounting inclination towards performing workout activities, which help to fight against numerous diseases, are anticipated to boost the market growth. An upsurge in the trend of health and wellness is one of the key influential factors that have been pouring the demand for different types of functional apparel precisely activewear or sportswear products. Consumers around the world have been extremely considering their fitness activity by indulging in several sports and fitness activities. Functional apparels are intended to perform particular functions according to different consumer requirements. These requirements may be safeguarding protection against heat and water while engaging in certain sporting activities. These apparels have gained popularity in current times, owing to the comfort they provide. Therefore, the fitness industry is highly being promoted among these target segments. Conversely, various fitness influencers have been promoting activewear brand that has caught the devotion of target customers. Moreover, the rise in health and wellness trend is a significant factor for the functional apparel market during the forecast period. In addition, product duplicity, which diminishes the market demand of the original brand, is anticipated to act as a restraining factor in the global market in the upcoming years. 

 

Among the geographies, the North America region is expected to hold the largest share in the global functional apparel market as countries such as the U.S. and Canada are adopting a workout culture for living a healthy life. Consequently, it can boost the demand for professional and other functional apparel products in the North American region. Furthermore, the Asia Pacific region is anticipated to witness high growth during the forecast period. Functional apparel products are mostly consumed by the population of the Asia Pacific region on account of increasing disposable income, coupled with advanced lifestyle in countries including China, and India.

 

Segment Covered

The report on the global functional apparel market covers segments such as product type, application, and distribution channel. On the basis of product type, the sub-markets include sportswear, activewear, and protective clothing. On the basis of application, the sub-markets include the sports industry, outdoor clothing, and healthcare. On the basis of the distribution channel, the sub-markets include online and offline.

 

Companies Profiled:

The report provides profiles of the companies in the market such as Puma, Nike, Under Armour, Adidas, Lululemon Athletic, Asics Corporation, Columbia Sportswear Company, Gap Inc., North Face, and Phillips-Van Heusen Corporation.

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of functional apparel market. Moreover, the study highlights current market trends and provides forecast from 2020-2026. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


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