About Functional Apparels
The global Functional Apparel market is expected to witness high demand in the forecasted period due to rising demand for high-performance, application-specific apparel, and footwear coupled with the rising participation in sports and fitness activities. Functional clothing is clothing that has built-in controls or adjustments that adjust to the needs of the user. This encompasses protection from extreme risks and surroundings, as well as protection from hard environmental circumstances while working or participating in sports. All sorts of clothing or assemblies that are explicitly constructed to provide a pre-defined performance or functionality to the user, in addition to their typical functions, are referred to as functional clothing. During the forecast period, the increased requirement for protection against harsh environmental conditions during work or athletic activities, as well as risks, is likely to drive the Global Functional Apparels Market. The functional apparel market is predicted to witness expansion in terms of newer technologies, coupled with new trends.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
CAGR | 14.2% |
This market is characterized by the presence of established vendors; however, on the regional front, the market is dominated by local suppliers. Key vendors have an extensive portfolio of function apparel. The competitive environment in this market is expected to intensify during the forecast period because of the increase in product extensions, improved quality. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Functional Apparels market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Addidas (Germany), Tommy Hilfiger (Netherlands), Nike Inc. (United States), New Balance Inc. (United States), Under Armour Inc. (United States), Asics Corporation (Japan), Columbia (United States), Playboy Enterprises (United States), Skechers USA Inc. (United States) and Puma (Germany) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Thai Sock Co. Ltd. (Thailand) and Russell Brands LLC (United States).
Segmentation Overview
AMA Research has segmented the market of Global Functional Apparels market by Type (Sportswear, Active wear, Protective Clothing, Footwear and Others), Application (Professional Athletic, Armature Athletic and Others) and Region.
On the basis of Type, Sportswear are dominating the market in the year 2023On the basis of geography, the market of Functional Apparels has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Finishing Analysis, the sub-segment i.e. Water-Resistant will boost the Functional Apparels market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Distribution Channel, the sub-segment i.e. Supermarkets/Hypermarkets will boost the Functional Apparels market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Fabric, the sub-segment i.e. Conventional will boost the Functional Apparels market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
The Increasing Inclination towards Performing Workout Activities and Growing Demand due to Advanced Technology are Usually Made of Polyester Fabric or Spandex
Market Growth Drivers:
The Growing Demand for Protective Clothing and Rising Health Aewness across the world
Challenges:
Increasingly Strict Environmental Policies
Restraints:
The Concern Related to Rising Labor Costs
Opportunities:
High Demand due to technological advancements and its capability to help people upsurge performance and Changing lifestyle of people and increasing preference towards the usage of activewear in day-to-day life
Market Leaders and their expansionary development strategies
In August 2022, Active Brands Group has acquired the Swedish board and ski brand, ColourWear, as it continues to strengthen its position as a global distributor of consumer goods, health and sports brands. The acquisition widens Active Brands Group brand portfolio as it enters the board and ski apparel market. Active Brands Group will accelerate ColourWear’s national and international expansion by supporting the brand’s product development, sourcing, sales, marketing and distribution.
In October-2023, Fashion retailer H&M has introduced a new equestrian sports laboratory within its corporate structure, signalling the launch of a contemporary and utilitarian line of horse-riding apparel. Branded as ‘All in Equestrian,’ a name paying homage to the renowned ‘H&M All In,’ this venture is seen as a seamless extension of H&M’s longstanding engagement with the equestrian community.
ASTM is an international standards organization that publish different types of standards for corporation or government, and the standards have been adopted in the United States. ASTM also provide textile standards for specifications and test method.
Key Target Audience
Functional Apparels Manufactures, Functional Apparels Distributors, Functional Apparels Suppliers, Government Regulatory Bodies, Government Research Organizations, Private Research Organizations and Other
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.