The recent market intelligence report, published by Data Insights Partner on the functional apparel market makes an offering of in-depth analysis of and sub-segments in both the regional and international market. The research also emphasizes on the impact of drivers, restraints and macro indicators on the regional and global functional apparel market over the short as well as long period of time. The report also includes the benefits and market opportunities presented in this field. Beside this, a detailed presentation of forecast, trends, and dollar values of the global market is offered too. In accordance with the report, the functional apparel market is projected to expand at a CAGR of 7.7% over the period of forecast period of 2020-2028.
Market Insights, Drivers, Restraints and Opportunities:
Functional apparel consists of several types of clothing and footwears that are ideally designed to provide unique properties such as crease-free, durability, flexibility, easy care, fast drying etc., to its users above the usually offered basic functions. These apparels are also used as a safeguard from extreme environmental conditions during outdoor sporting and adventurous activities. Additionally, it offers a certain amount of protection from hazards at the workplaces such as medical and chemical laboratory where various medical and chemical testing is carried out.
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Rising awareness over healthy and better lifestyle has increased the demand for sportswear which in turn has played a main role in support of the growth of the global functional apparel market. In addition, a rise in the number of sporting and other adventurous and outdoor activities like trekking, cycling, hiking etc. is adding fuel to the growth of the said market. Increasing demand for functional apparels and footwears along with the rising participation rate of young and middle-aged population in various sports and outdoor activities are some of the key factors expected to drive growth of this market. Growing population and rapid urbanisation is also helping the growth of functional apparel market. Beside this, increase in R&D activities to make new and better product is another factor fuelling the demand for this market. The modern technology used in these products and the easy-to handle and other unique properties are also responsible for the rapid growth of functional apparel market.
The functional apparel market has a huge potential. Though it is expanding very fast day by day, many things are preventing it from using its full potential. Some of these restraints are–
- High cost of the raw materials, R&D activities.
- High transportation and exportation cost.
- High cost of the end product.
- Availability of other substitutes in lower prices.
- Unavailability in many regions.
- Time consuming production procedure.
- Lack of awareness about the availability and benefits of the functional apparels in the developing countries.
During the forecast period, North America followed by Asia Pacific and Europe are expected to be the fastest-growing fire rated glass market. The demand for functional apparel in the North American region is driven by its ever-growing usage in the sports and other sectors and the increasing foreign investments in the said market. The rising concerns over healthy and better lifestyles, better physical appearance and participation in sports sector is helping the growth of the said market in this region. The rapid economic growth, increase in disposable income and growing population in the said region is expected to fuel high demand for these products. It is also believed that on the basis of application, the sportswear segment will have the largest share because of its durability, flexibility and easy-to-handle properties and availability in various types in the forecast period. For its high demand, low prices, high efficiency and other properties, market for women’s functional apparel sector is also expected to rise significantly in the said time.
Segmentation of Functional Apparel Market:
This market intelligence report on the functional apparel market is segmented based on product type, fabric material, product form, application, end usage, end users, distributional channel and the country/regions.
By Product Type, the functional apparel market is divided into–
- Protective Clothing
By Fabric Material, the functional apparel market is segmented into–
- Conventional Fabric
- Speciality Fabric
By Product Form, the functional apparel market is divided into–
- Water Resistant
- Stain Resistant
By Application, the functional apparel market is divided into–
- Professional Athletic
- Armature Athletic
By End Usage, the functional apparel market is segmented into–
By End Users, the functional apparel market is divided into–
By Distribution Channel, the functional apparel market is segregated into–
- Hypermarkets and Supermarkets
By Regional Outlook, the functional apparel market is divided into–
- North America (United States, Canada)
- Latin America (Brazil, Mexico, Argentina and other countries)
- Europe (United Kingdom, France, Germany, Spain, Italy, Russia, Turkey, Netherlands and other countries)
- Asia Pacific (Japan, China, India, South Korea, Singapore, Indonesia, Thailand, Malaysia, Australia, New Zealand and other countries)
- Middle East and Africa (GCC, South Africa, Israel, Arabia, Egypt and other countries)
Profiling of Market Players:
This business intelligence report offers profiling of reputed companies that are operating in the market. Companies such as
- Under Armor
- PVH Corp
- Jockey International
- Ralph Lauren
- Amer Sports
- Hugo Boss
- Russell Brands
- Asics Corporation
Other players have been profiled into detail so as to offer a glimpse of the market leaders. Moreover, parameters such as functional apparel market related investment and spending and developments by major players of the market are tracked in this global report.
Market Competitive Analysis:
Key players are adopting strategies such as investing in R&D, new product launches, expansion in distribution channels to stand out as strong competitors in the market. Functional apparel market is a competitive market with the presence of various global and regional players in the market. The major players like Nike, Puma, Reebok, Adidas, Jockey International, Russell Brands, Ralph Lauren, Under Armor etc. are trying to gain the market power in their hands by producing the products in low costs and thus charging low prices and using different kind of marketing campaigns.
An in-depth analysis of the micro and macro indicators, market trends, and forecasts of demand is offered by this business intelligence report. Furthermore, the report offers a vivid picture of the factors that are steering and restraining the growth of this market across all geographical segments. In addition to that, Growth Matrix analysis is also provided in the report so as to share insight of the investment areas that new or existing market players can take into consideration. Various analytical tools such as market data analysis, time series and cross section statistical data analysis has been used in this report to present a clear picture of the market. The study focuses on the present market trends and provides market forecast from the year 2020-2028. Emerging trends that would shape the market demand in the years to come have been highlighted in this report. A competitive analysis in each of the geographical segments gives an insight into market share of the global players.
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Ø This study offers comprehensive yet detailed analysis of functional apparel market, size of the market (US$ Mn), and Compound Annual Growth Rate (CAGR (%)) for the period of forecast: 2020-2028, taking into account 2019 as the base year.
Ø It explains upcoming revenue opportunities across various market segments and attractive matrix of investment proposition for the said market.
Ø This market intelligence report on functional apparel market also offers pivotal insights about various market opportunities, restraints, drivers, launch of new products, competitive market strategies of leading market players, emerging market trends, and regional outlook.
Ø Profiling of key market players in the market of functional apparel is done by taking into account various parameters such as company strategies, distribution strategies, product portfolio, financial performance, key developments, geographical presence, and company overview.
Ø The data of this report would allow management authorities and marketers of functional apparel companies alike to take informed decision when it comes to launch of products, government initiatives, marketing tactics and expansion, and technical up gradation.
Ø The research on the world market for functional apparel market caters to the needs of various stakeholders pertaining to this industry, namely suppliers, manufacturers, investors, and distributors for the market. The research also caters to the rising needs of consulting and research firms, financial analysts, and new market entrants.
Ø Research methodologies that have been adopted for the purpose of this study have been clearly elaborated so as to facilitate better understanding of the reports.
Ø Reports have been made based on the guidelines as mandated by General Data Protection Regulation.
Ø Ample number of examples and case studies has been taken into consideration before coming to a conclusion.
Reasons to Buy:
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v Comprehensive details on micro and macro factors that will drive or restrain the growth of market players.
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v Deep Sector-Specific Intelligence.
v Identify investors who can invest in your company or identify the companies to invest in by analysing market opportunities, gains and losses.
v Identify and attract potential customers by analysing consumer behaviour for every region.
v Highlights of the competitive landscape.
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