Global Functional Workwear Apparel Market: Overview
Functional workwear is clothing designed to protect workers from hazards of their workplace. A major demand for these products in the market in recent times is coming from people looking for sportswear and 'athleisure' garments. Today, industrial workers are employed for longer hours in less than ideal conditions. Hence, modern workwear is expected to be comfortable and resilient, keeping the individual’s safety at the forefront of thought. Thus, traditionally comfortable materials like cotton and wool are being incorporated intelligently with synthetic fibers and plastics to give a product that is fit for work and the worker. This is leading to higher demand for functional workwear apparel. As per Transparency Market Research, from 2020 to 2030, a stead compound annual growth rate will be recorded in the landscape of global functional workwear apparel.
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Global Functional Workwear Apparel Market: Notable Developments
Manufacturers of global functional workwear apparel market are directing efforts towards increasing market presence by marketing and advertising initiatives. Some notable developments in this market are:
In 2019, Meepl, a Swiss innovation tank has developed smart phone based 3-D scanning software that allows personalized sportswear shopping. This is easing the experience and set to contribute to growth in the market.
On the other hand, Hewlett Packard, a major name in the computing industry is developing a digital textile printer that delivers apparels in an efficient manner. This is set to drive competition on a higher tangent.
The market is fragmented and distinguished players include:
- Under Armor,
- PVH Corp.,
- PUMA, S.E.,
- Ralph Lauren,
- Asics Corporation,
- Amer Sports,
- Jockey International,
- Hugo Boss,
- Umbro, and
- Russell Brands, LLC.
- VF Corporation
- Williamson-Dickie Mfg. Co
- Blundstone Australia Pty Ltd
Global Functional Workwear Apparel Market: Key Trends and Drivers
A number of growth factors such as increase in research and development activities and notable technological advancement is set to drive the market forward. A glimpse into other botable factors is provided below:
- The functional workwear apparel market is dominated by demand for sportswear. It is currently used not just by professional athletes but also by individuals who are increasingly conscious about their health and appearance. As sports activities are increasingly adopted by people, the demand for functional apparel for the same should increase as well. This trend is also supported by rising acceptance for ecommerce among the population, making workwear apparel accessible to all.
- Employment is growing, especially in some of the developing countries. In India, the aggregate employment rate grew by 3.3% from 2015 to 2019. Similarly, industrial workforce is increasing world over because of a burgeoning demand for all types of products from the global market. This should give impetus for growth for the functional workwear apparel market over the forecast period.
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Global Functional Workwear Apparel Market: Regional Analysis
The Asia Pacific region (APAC) is currently the market leader in functional apparel given the increasing industrial output in this region and relevance given to sportswear among the regional population. This upward growth is expected to continue into the future as South Asia figures among the fastest growing industrial regions of the world and notable increase in disposable incomes. On the other hand, North America and Europe are set to capitalize upon presence of strong players, innovation in products, technological advancement, extensive and intensive research and development activities (R&D) and high disposable income.
Disclaimer: This ongoing market research study is a meticulously planned activity where a broad array of factors and aspects that shape the marketing environment and industry are taken into account. However, keeping in mind the constantly changing nature of business dynamics and changing strategic intents, we are always actively making iterations and modifications in our approaches. As always, we are ready to tailor our insights and guidance to suit your requirements. Engage with us to know what more is there for your CXOs.