Global Functional Apparel Market: Snapshot
The global functional apparel market is treading a growth path on the back of rising demand for high-performance, application-specific apparel and footwear along with rising participation in sports and fitness activities. Further, the rising awareness of importance of health and fitness is likely to stoke demand for sportswear and footwear in the upcoming years.
Apart from this, lifestyle disorders and work-related stress has aroused health awareness among individuals across the world. This is encouraging them to get involved in gym or personal training so as to remain healthy and active in daily life. Therefore, the demand for sportswear and footwear is likely to witness rise in the upcoming years.
The employment of scientific principles for the manufacture of functional apparel that helps improve athletic performance and helps reduce injuries is also acting in favor of functional apparel market.
As per projections of a market study by Transparency Market Research, the global functional apparel market is likely to register an impressive 13.5% CAGR for the forecast period from 2017 to 2025. Progressing at this rate, the demand in the market will attract a revenue of US$244.61 bn by the end of 2025.
Sportswear to Emerge Significant through 2025
The report studies the global functional apparel market on the basis of type and region. By type, the various segments that divide this market are sportswear, outdoor apparel, footwear, socks, and innerwear. Of them, the footwear segment is likely to display significant growth rate during the forecast period. The segment is anticipated to be followed by sportswear and reach a valuation of US$84.76 bn by the end of 2025.
Strong Presence of Functional Apparel Manufacturers Make North America Leader
Among the key regional markets, North America is likely to emerge dominant in the functional apparel market over the forecast period from 2017 to 2025. The increasing inclusion of physical activity in the daily life is leading to the demand for sportswear and footwear with specific product claims such as anti-odor, sweat free, antimicrobial, and others. The strong presence of key players in the apparel segment in the region is also benefiting the North America functional apparel market.
Europe trails North America in terms of growth in the functional apparel market. Changing fashion trends and rising number of working women is supporting the growth of non-athletic footwear segment in Europe. Moreover, with rising awareness about the importance of health and fitness the demand for sportswear and footwear is likely to expand in this region.
Asia Pacific is anticipated to emerge as a key market for functional apparel during the forecast period. This is attributed to the presence of production units of local and regional brands in the region. The large population pool in China between the ages of 18 to 35 years interested in running marathons, gym activities is benefitting the growth of Asia Pacific functional apparel market.
Leading names in the global functional apparel market include Addidas, Columbia, MIZUNO Corporation, New Balance Inc., Patagonia Inc., Icebreaker, Wacoal, Pink (L Brands), Tommy Hilfiger, Hanesbrand Inc., Hugo Boss, Umbro, Nike Inc., Under Armour Inc., Skechers USA Inc., Puma, Head, Asics Corporation, Victoria Secret, Calvin Klein, True & Co., Jockey International, Russell Brands LLC, Jack Wolfskin Retail GmbH, Montane RHONE, Geox, RY International, Red Wing Shoe Company, Triumph International, Mountain Equipmnet, THORLO Inc., Admiral Sportswear Ltd., Bata Corporation, Clarus Corporation, Fenix Outdoor International AG, Kappa, French Connection, Gainup Industries India Pvt Ltd., Merrell, VF Corporation, Berghaus Limited, Polar Stuff, Playboy Enterprises, Thai Sock Co. Ltd., PENFIELD, 2(x)ist Inc., Wilson Sporting Goods, Brooks Sports Inc., Cole and parker Co., Fila Inc., and Fruit of the Loom.
Global Functional Apparel Market: Overview
This report on the global functional apparel market provides analysis for the period 2015 – 2025, wherein 2016 is the base year and the period from 2017 to 2025 is the forecast period. Data for 2015 has been included as historical information. The report covers drivers which are ought to drive the functional apparel market. It also covers opportunities for the growth analysis of functional apparel market and restraints which show growth challenges in the market. Rising demand for high-performance, application-specific apparels and footwear along with increase in the sports activities are the major factors contributing towards the growth of the market. Over the past two decades, there has been a substantial rise in interest as well as participation of people in sports and fitness related activities worldwide. Moreover, growing inclination of people toward individual fitness encourages them to get involved in gym or personal training activities in order to remain healthy and active in daily life. The prominent regional trends covered in the scope of the study is expected to influence the global functional apparel market growth during the said period. The study provides a comprehensive analysis on market growth throughout the mentioned forecast period in terms of revenue estimates (in US$ Bn) across different geographies.
Global Functional Apparel Market: Market Segmentation
The global functional apparel market is segmented on the basis of type which includes sportswear, footwear, innerwear, socks and outdoor apparel. Geographically, the report classifies the global Functional Apparel Market into North America, Europe, Asia Pacific, Middle East & Africa (MEA) and South America; the regions are analyzed in terms of revenue generation and also includes analysis of countries such as U.S., Canada, EU5, Nordic, Russia, Poland, China, India, Indonesia, New Zealand, Japan, Australia, GCC, North Africa, South Africa, Mexico, Brazil and Argentina. The market size and forecast for each region and country has been provided for the period from 2015 to 2025 along with the CAGR (%) for the forecast period from 2017 to 2025.
The report includes Y-o-Y growth comparison analysis, basis point share analysis and absolute opportunity in the market, market attractiveness and prominent trends globally. Furthermore, report shows market attractiveness analysis for all the segments and regions in the scope of study which identifies and compares segments market attractiveness on the basis of CAGR and market share index.
Global Functional Apparel Market: Competitive Analysis
The report also includes competition landscape which includes market share analysis of major players categorized in sportswear, footwear, socks, innerwear and outdoor apparel in the global functional apparel market based on their 2016 revenues and profiling of major players. Major players and premium/performance brands are profiled in the functional apparel market. Furthermore, major players and premium/performance brand profiled contains company overview, financial information, SWOT analysis, business strategy and product portfolio such as product claims, key brands and price range.
Key players profiled in the global functional apparel market are categorized as the market players and premium/performance brands playing major role in five categories which are sportswear, outdoor apparel, socks, innerwear and footwear. Further, market players considered in functional apparel market are Addidas, Nike Inc., Columbia, Under Armour Inc., MIZUNO Corporation, Skechers USA Inc., New Balance Inc., Puma, Patagonia, Inc., Head, Icebreaker, Asics Corporaton, Wacoal, Victoria Secret, Pink (L Brands), Calvin Klein, Tommy Hilfiger, True & Co.(PVH Corporation), Hanesbrand Inc., Jockey International, Hugo boss, Russell Brands, LLC. and Umbro. Further, premium/performance brand are Jack Wolfskin Retail GmbH, Merrell, Montane, RHONE, VF Corporation, Geox, Berghaus Limited (Pentland Brands Limited), RY International, Polar Stuff, Red Wing Shoe Company, Playboy Enterprises, Triumph International, Thai Sock Co., Ltd., Mountain Equipment, PENFIELD, THORLO, Inc., 2(x)ist, Inc., Admiral Sportswear Ltd., Wilson Sporting Goods, Bata Corporation, Brooks Sports, Inc. (Berkshire Hathaway), Clarus Corporation (Black Diamond Equipment), Fenix Outdoor International AG, Cole and Parker Co., Kappa, etnies, Fila, Inc., French Connection, Fruit of the Loom (Berkshire Hathaway) and Gainup Industries India Pvt. Ltd.
The Global Functional Apparel Market is segmented as below:
Global Functional Apparel Market, by Type
- Outdoor Clothing
- Athletic Innerwear
- Athletic Footwear
- Athletic Socks
- Non-Athletic Socks
Global Functional Apparel Market, by Region
- North America
- Asia Pacific
- Middle East and Africa
- South America