Functional Apparels Market Overview
The Functional Apparels Market Size is predicted to reach USD 505.85 billion and a CAGR of 7.9% by the 2022-2030 forecast period.
The Asia-Pacific functional apparel market has experienced exponential growth owing to rising consumer awareness regarding health and fitness, coupled with a growing inclination towards outdoor activities. Countries like China, Japan, South Korea, and India are witnessing a surge in demand for functional apparel across various age groups.
Functional clothing serves a variety of fashions in addition to fundamental safety and aesthetic for the wear. There are different kinds of aesthetic wear, sportswear, medical wear and many more. Consumers generally find activewear comfortable, related to materials used to make such clothing and footwear.
The increase in health and wellness trends is one of the key factors affecting consumer demand for various types of functional apparel, particularly sportswear. Global consumers participate in a variety of fitness and sports activities as a way to take their fitness seriously. Several fitness influencers supporting fitness clothing encourage people to follow them, which leads to the growth of the functional apparel market.
The market size for functional apparel is expected to continue for at least another year. If the companies can resume their work shortly, the execution may take up to 2 to 3 months. Even if the COVID-19 pandemic decreases, customers might not be willing to spend money on clothing at the stores. People will spend money on activewear, and dynamic wear as the economic and business environment improves. The global functional apparel market will grow as people focus more on sports and activities like travelling and cycling.
Market Segments
The global Functional Apparels Market is segmented into end-user and product type.
Based on end-user, the Functional Apparels Market is classified into men and women.
Based on the product type, the Functional Apparels Market is classified into laboratory wear, protective wear and sportswear. The laboratory wear includes hand wear, sterile jacket footwear and others. The protective wear includes food security, hand insurance and others. Sportswear includes footwear, head stuff and others.
Regional Analysis
The geographical analysis Shows immense growth in regions such as Europe, North America, Asia-Pacific, and the rest of the world.
Among the major regions, North America dominates the Functional Apparels market. One of the primary factors influencing the development of this region is the evolving pattern of a healthy lifestyle. People born after World War II are investing more in wellness and preventative measures, which impacted market growth. As a result, the market growth is driven by American youth's growing sports revenue and the increased investment in sports activities. Mechanical improvements have led to comfort, which primarily draws the attention of fitness and game lovers. Due to this, activewear has become a widely used fashion trend in North America.
Industry News
In February 2022 - ETERMINANT partnership with one of the world's top football clubs, FC Barcelona, launched its second collection. The second modern casual collection, which has an aesthetic and bolder look inspired by the logo of FC Barcelona, will be released after the debut of the contemporary formal workwear collection.
In February 2022 – Dickies introduced their new survivalist collection designed to fit terrains. The collection includes hard-wearing and military-inspired elements in both men's and women's collections, as well as utility clothes with camouflage and moss-toned patterns.
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