Global Functional Apparel Market Report 2022: Market to Reach $372.5 Billion by 2026 - Sportswear Remains Coveted Segment of Functional Apparel Market

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Mar 31, 2022, 17:15 ET

DUBLIN, March 31, 2022 /PRNewswire/ -- The "Functional Apparel - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

Global Functional Apparel Market to Reach $372.5 Billion by 2026

Amid the COVID-19 crisis, the global market for Functional Apparel estimated at US$265.8 Billion in the year 2020, is projected to reach a revised size of US$372.5 Billion by 2026, growing at a CAGR of 5.7% over the analysis period.

Functional clothing is considered to be an evolution of technical textiles. Functional clothing is an area where clothing integrates with medicine, nanotechnology, computing, physics, and biotechnology domains to address the increasingly complex and multi-faceted needs of users.

Functional apparel meets specific performance requirements and are designed and engineered to protect or provide comfort to the wearer while being normal. Functional clothing can be termed a bridge between commercial clothing and technical textiles with a commercial market. While functional clothing enumerates traits of technical textiles in offering protection or comfort for the wearer, they can also be used as regular wear, thus carving a niche that spans technical textiles and the clothing market.

Typical functional apparel includes sportswear, protective wear, medical clothing, and special clothing. At present, a wide variety of functional apparel are currently available in the form of medical clothing, sports clothing, and protective clothing among others.

Sportswear, one of the segments analyzed in the report, is projected to grow at a 5.6% CAGR to reach US$128.4 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Footwear segment is readjusted to a revised 6.3% CAGR for the next 7-year period. This segment currently accounts for a 22.5% share of the global Functional Apparel market.

The U.S. Market is Estimated at $89.6 Billion in 2021, While China is Forecast to Reach $52.5 Billion by 2026

The Functional Apparel market in the U.S. is estimated at US$89.6 Billion in the year 2021. The country currently accounts for a 32.32% share in the global market.

China, the world second largest economy, is forecast to reach an estimated market size of US$52.5 Billion in the year 2026 trailing a CAGR of 7.3% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.9% and 5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 5.2% CAGR while Rest of European market (as defined in the study) will reach US$56.2 Billion by the close of the analysis period.

The ongoing health and wellness trend continues to be the primary driver of the global functional apparel market, prompting consumers to spend on these apparels, mainly sportswear and active wear products. Consumer focus on healthy regime and rising level of health-consciousness are making people to get selective regarding apparels for gym sessions, personal training and casual work.

Increasing engagement in sports and adventurous activities like cycling and trekking is favoring the market expansion. In addition, aggressive efforts by fitness influencers to promote active wear and attract consumers have resulted in the athleisure cult, encouraging people to wear active wear on gyms as well as social gatherings and runways.

The market growth is also propelled by rising adoption of functionality-specific apparels and footwear and technological advancements. The use of engineered fabrics in functional apparel offers protects from extreme cold or heat, chemicals and radiation. These fabrics can absorb sweat and keep users cooler in summer and warm in winters. Some of the latest functional apparel are made using anti-bacterial materials capable of preventing body odor.

On the other hand, athletic footwear offered by major brands maximizes user comfort and improves athletic performance while reducing the risk of injuries. Increasing incident of foot diseases and allergies is prompting companies to offer sports shoes & socks with specialized features.

While various manufacturers are offering sports socks with extra padding to mitigate risk of foot allergies, others are increasingly incorporating sophisticated technologies in their hosiery products. Moreover, increasing focus of various medical laboratories on R&D is expected to bolster the adoption of medical laboratory-wear apparels.

Protective Clothing Segment to Reach $66.6 Million by 2026

Protective clothing is designed to provide protection to the wearer from the hazards at workplaces or at any other places. High visibility garments also fall under protective clothing.

Protective clothing finds uses in a wide range of applications and include fire & heat protection; nuclear, chemical, and biological hazard protection; protection from sharp objects such as stab wounds, cuts, and abrasions; protection from extreme cold; and protection from static electricity, and high voltage among others.

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

COVID-19 Marks Shift of Fashion Industry with Buzz for Functional Fashion
An Introduction to Functional Apparel
Functional Apparel Design & Manufacturing
Global Market Prospects & Outlook
Sportswear Remains Coveted Segment of Functional Apparel Market
Professional Athletic: A Major Application of Functional Apparel
Supermarkets/Hypermarkets Maintain Position as Primary Distribution Channel
Developed Regions Hold Upper Hand in Functional Apparel Market
Competition
Recent Market Activity

2. FOCUS ON SELECT PLAYERS (Total 198 Featured)

361 Degrees International Limited
Adidas AG
Amer Sports Oyj
Asics Corporation
Calvin Klein
Columbia Sportswear Company
HanesBrands Inc.
Head
Hugo Boss AG
Icebreaker
Jockey International, Inc.
Lululemon Athletic Inc
MIZUNO Corporation
NIKE, Inc.
Phillips-Van Heusen Corporation
Puma SE
Ralph Lauren Corporation
Reebok International Ltd.
Russell Brands, LLC
Skechers USA Inc.
The Gap, Inc.
The North Face, Inc.
Umbro
Under Armour, Inc.

3. 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
Sports & Fitness Clothing Market Presents Growth Opportunities for Functional Fitness & Sports Apparel
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
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
Rise in Workplace Accidents Fuels Demand for Functional Apparel
High Levels of Workplace Related Accidents Bring Renewed Emphasis on Functional Protective Clothing
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
Demographic Trends Impact Prospects: Urbanization & Middle Class Population Influence Growth