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Global Functional Apparel Strategic Market Report 2023-2030: Groundbreaking Technologies Adding Feather to Functional Apparel's Cap

Company Logo
Company Logo

Functional Apparel Market

Functional Apparel Market
Functional Apparel Market

Dublin, Dec. 07, 2023 (GLOBE NEWSWIRE) -- The "Functional Apparel - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.

Global Functional Apparel Market to Reach $477.1 Billion by 2030

The global market for Functional Apparel estimated at US$294 Billion in the year 2022, is projected to reach a revised size of US$477.1 Billion by 2030, growing at a CAGR of 6.2% over the analysis period 2022-2030. Sportswear, one of the segments analyzed in the report, is projected to record 6.1% CAGR and reach US$155.5 Billion by the end of the analysis period. Growth in the Footwear segment is estimated at 6.8% CAGR for the next 8-year period.

In 2022, the fashion industry experienced a notable shift towards functional apparel due to the impact of COVID-19. Functional apparel offers both style and practicality, aligning with consumers' changing preferences for versatile and comfortable clothing. Functional apparel encompasses a range of designs and manufacturing techniques, focusing on attributes like durability, comfort, and performance. This market showed promise for continued growth in the coming years.

Sportswear emerged as a prominent segment within the functional apparel market, driven by the demand for activewear and athleisure wear. Professional athletes were a significant customer base for such functional apparel. The distribution of functional apparel was primarily through supermarkets and hypermarkets, catering to a wide audience. Developed regions held a strong presence in the market due to their higher consumer base and purchasing power.

Key competitors in the global functional apparel market engaged in fierce competition, offering a variety of products to meet consumer needs. Recent market activity involved product launches, marketing strategies, and innovations to gain a competitive edge.

The U.S. Market is Estimated at $94.1 Billion, While China is Forecast to Grow at 7.8% CAGR

The Functional Apparel market in the U.S. is estimated at US$94.1 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$71.2 Billion by the year 2030 trailing a CAGR of 7.8% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.4% and 5.5% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 5.6% CAGR.

What`s New?

  • Special discussions on the global economic climate and market sentiment

  • Coverage on global competitiveness and key competitor percentage market shares

  • Market presence analysis across multiple geographies - Strong/Active/Niche/Trivial

  • Online interactive peer-to-peer collaborative bespoke updates

  • Access to digital archives and trademarked research platform

  • Complimentary updates for one year

  • Access to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes

Key Attributes:

Report Attribute

Details

No. of Pages

530

Forecast Period

2022 - 2030

Estimated Market Value (USD) in 2022

$294 Billion

Forecasted Market Value (USD) by 2030

$477.1 Billion

Compound Annual Growth Rate

6.2%

Regions Covered

Global

MARKET TRENDS & DRIVERS

  • Functional Apparel to Reap Rich Dividends with Health & Wellness Trend

  • Rising Participation in Sporting Activities & Inclination Towards Workouts Fuel Demand for Sports Functional Apparel

  • Participation in Sports & Fitness Activities Favors Growth in Functional Apparel Market: Average % of Americans Engaged in Sports & Fitness Activity Each Day for 2010, 2014 and 2019

  • Sports & Fitness Clothing Market Presents Growth Opportunities for Functional Fitness & Sports Apparel: Global Sports & Fitness Clothing Market Size (in US$ Million) for the Years 2019 and 2025

  • Performance Outdoor Apparel

  • Reactive Fabrics and Materials in Sports Clothing

  • Improving Performance of Athletes in Professional Sports

  • Smart Clothing with Thermal Changes

  • Heated Sports Clothing Picks Up

  • Snow Sports Functional Apparel Gains Strength

  • Consumer Preference for Activewear in Daily Life to Fuel Functional Sportswear Market

  • Global Activewear Market Size (in US$ Billion) for the Years 2019, 2022 and 2025

  • Technology Trends Revolutionizing Active Wear Market

  • Protective Clothing: A Key Part of Functional Apparel Market

  • Notable Trends in Protective Clothing Market

  • Introduction of Nanotechnology Applications Fuel Growth for Protective Clothing Market

  • Mandatory Regulations Drive Focus onto Protective Textiles

  • Rising Demand for Performance Boosting Apparel Bodes Well for the Functional Apparel Market

  • Functional and Durable Work Apparel Grows in Prominence

  • Expanding Needs of Workwear Industry to Drive Gains in Functional Work Apparel Market: Global Workwear Market Size (in US$ Million) for the Years 2019 & 2024

  • Rise in Workplace Accidents Fuels Demand for Functional Apparel

  • High Levels of Workplace Related Accidents Bring Renewed Emphasis on Functional Protective Clothing: Global Annual Work Related Fatalities (In Thousand) by Region

  • COVID-19 Pandemic Disrupts Functional Workwear Apparel Industry

  • Advent of Innovative Technologies Fuel Demand for Functional Workwear Apparel

  • Superior Attributes of Flame-Retardant Workwear over Traditional Workwear Benefit Market

  • Multi-Functional and Lighter Fabric Workwear Grows in Demand in Oil & Gas Industry

  • Functional Medical Clothing Grows in Importance amidst the COVID-19 Pandemic

  • Safety Requirements Drive Need for Medical Textiles

  • Functional Footwear Designed to Improve Comfort & Ensure Safety

  • Rising Concerns over Environmental Degradation Fuel Demand for Natural and Eco-Friendly Fibers

  • Focus on the Use of Natural Fibers in Functional Clothing

  • Multi-Functional Durable Clothing: High Growth Opportunities

  • Groundbreaking Technologies Adding Feather to Functional Apparel's Cap

  • Technological Advancements Fastrack Adoption of Functional Apparels

  • E-Commerce Platforms Boost Growth in Functional Apparel Market

  • COVID-19 Driven Rise in E-Commerce Sales Benefit Functional Apparel Market: Global Retail E-Commerce Website Traffic in Average Monthly Visits (in Billions) for Jun-2019 to Jun-2020

  • Demographic Trends Impact Prospects: Urbanization & Middle Class Population Influence Growth

  • World Urban Population in Thousands: 1950-2050P

  • Global Middle Class Population (In Million) by Region for the Years 2020, 2025 and 2030

  • Global Middle Class Spending (US$ Trillion) by Region for the Years 2020, 2025, 2030

FOCUS ON SELECT PLAYERS(Total 198 Featured)

  • Amer Sports Corporation

  • Carhartt, Inc.

  • Aramark Corporation

  • Columbia Sportswear Company

  • ASICS Corporation

  • Aditya Birla Fashion and Retail Ltd. (ABFRL)

  • Bunzl PLC

  • Amoena Medizin-Orthopadie-Technik GmbH

  • Bragard SA

  • Confezioni Tutal Srl

  • Clarus Corporation

  • Admiral Sportswear Ltd.

  • ANTA Sports Products Ltd.

  • Brooks Sports, Inc.

  • Dainese SpA

For more information about this report visit https://www.researchandmarkets.com/r/w3xzph

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

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