The Functional Apparel market size was valued at $282.30 billion in 2018 and is expected to reach $505.80 billion by 2026, registering a CAGR of 7.7% from 2019 to 2026
The global functional apparel market is segmented on the basis of product type, application, distribution channel, and region. Based on product type, the market is segmented into Sportswear, active wear, protective clothing and others. Based on application, the market is classified into sports industry, outdoor clothing and healthcare. By distribution channel, the market is divided into offline and online.
Activewears are designed to enhance the performance of customers, especially fitness & sports enthusiasts. Enhanced breathability of fabric, wicking function, bi-stretch ability, enhanced grip, among others are some of the major factors boosting the performance of users, which make activewear superior than other substitutes. On the other hand, anti-bacterial fabrics used in activewear reduce body odor and prevent degradation of activewear color. Thermal insulation is another major advantage of activewear. Despite the use of lightweight and thin fabric, thermal activewear are helpful in maintaining the body temperature in unfavorable weather situations. Anti-static, quick-drying, and elasticity of fabric are some of the miscellaneous advantages of activewear, which increase ease-of-care and maintenance of this clothing. Thus, performance boosting, easy care & maintenance, and other advantages of activewear have fueled its demand across the world.
Fitness enthusiasts show high propensity to pay premium prices for fitness related products, which are necessary to achieve their fitness goals. Fitness has become one of the major part of daily routine of a substantial number of consumers. Increasing participation in sports and fitness activity has led to a more comprehensive approach of customers toward fitness and sports-related products.
On the other hand, the female apparel segment is highly fragmented. Fashionable activewear has witnessed surge in demand, due to increase in adoption of apparel from the female consumers. In addition, shift in female physical activity participation is one of the major factors driving the demand for activewear. Increasing number of female fitness models, sports players, and athletes developed a holistic approach of female consumers toward sports and fitness. Moreover, the ongoing trend of healthy aging has witnessed increased popularity among the geriatric population. The requirement of performance boosting fitness products is expected to increase among the geriatric population, owing to increase in health & fitness associated with ageing. This factor boosts the demand for activewear among elderly consumers, owing to performance boosting features of activewear such as enhanced grip, wicking, and back support, among others. Thus, rise in participation of customers provides potential opportunities for market expansion.
Athleisure is a clothing type that is a cross over between activewear and leisure wear. Improvements in design and materials used for such clothes have significantly increased its popularity across the world. Increasing adoption of athleisure clothing as an office wear has positively impacted the growth of the overall market. Further, numerous advantages of athleisure clothing, such as protection from adverse weather, wicking & breathability, thermal insulation, lightweight, and ease of washing & care have helped the market to gain popularity and traction among young consumers. On the other hand, fashionable designs and customization options in athleisure activewear supplement the market growth.
Key players operating in the market includes Puma, Nike, Under Armour, Adidas, Lululemon Athletic, Asics Corporation, Columbia Sportswear Company, Gap Inc., North Face, Phillips-Van Heusen Corporation and others.
KEY BENEFITS FOR STAKEHOLDERS
KEY MARKET SEGMENTS
By Product Type
By Application
By Distribution Channel
By Region
Activewears are designed to enhance the performance of customers, especially fitness & sports enthusiasts. Enhanced breathability of fabric, wicking function, bi-stretch ability, enhanced grip, among others are some of the major factors boosting the performance of users, which make activewear superior than other substitutes. On the other hand, anti-bacterial fabrics used in activewear reduce body odor and prevent degradation of activewear color. Thermal insulation is another major advantage of activewear. Despite the use of lightweight and thin fabric, thermal activewear are helpful in maintaining the body temperature in unfavorable weather situations. Anti-static, quick-drying, and elasticity of fabric are some of the miscellaneous advantages of activewear, which increase ease-of-care and maintenance of this clothing. Thus, performance boosting, easy care & maintenance, and other advantages of activewear have fueled its demand across the world.
Fitness enthusiasts show high propensity to pay premium prices for fitness related products, which are necessary to achieve their fitness goals. Fitness has become one of the major part of daily routine of a substantial number of consumers. Increasing participation in sports and fitness activity has led to a more comprehensive approach of customers toward fitness and sports-related products.
On the other hand, the female apparel segment is highly fragmented. Fashionable activewear has witnessed surge in demand, due to increase in adoption of apparel from the female consumers. In addition, shift in female physical activity participation is one of the major factors driving the demand for activewear. Increasing number of female fitness models, sports players, and athletes developed a holistic approach of female consumers toward sports and fitness. Moreover, the ongoing trend of healthy aging has witnessed increased popularity among the geriatric population. The requirement of performance boosting fitness products is expected to increase among the geriatric population, owing to increase in health & fitness associated with ageing. This factor boosts the demand for activewear among elderly consumers, owing to performance boosting features of activewear such as enhanced grip, wicking, and back support, among others. Thus, rise in participation of customers provides potential opportunities for market expansion.
Athleisure is a clothing type that is a cross over between activewear and leisure wear. Improvements in design and materials used for such clothes have significantly increased its popularity across the world. Increasing adoption of athleisure clothing as an office wear has positively impacted the growth of the overall market. Further, numerous advantages of athleisure clothing, such as protection from adverse weather, wicking & breathability, thermal insulation, lightweight, and ease of washing & care have helped the market to gain popularity and traction among young consumers. On the other hand, fashionable designs and customization options in athleisure activewear supplement the market growth.
Key players operating in the market includes Puma, Nike, Under Armour, Adidas, Lululemon Athletic, Asics Corporation, Columbia Sportswear Company, Gap Inc., North Face, Phillips-Van Heusen Corporation and others.
KEY BENEFITS FOR STAKEHOLDERS
- The report provides an extensive analysis of the current and emerging market trends and opportunities in the global functional apparel market.
- The report provides detailed qualitative and quantitative analysis of current trends and future estimations that help evaluate the prevailing market opportunities.
- A comprehensive analysis of the factors that drive and restrict the growth of the market is provided.
- An extensive analysis of the market is conducted by following key product positioning and monitoring the top competitors within the market framework.
- The report provides extensive qualitative insights on the potential segments or regions exhibiting favorable growth.
KEY MARKET SEGMENTS
By Product Type
- Sportswear
- Active wear
- Protective Clothing
By Application
- Sports Industry
- Outdoor Clothing
- Healthcare
By Distribution Channel
- Offline
- Online
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Australia and New Zealand
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Frequently Asked Questions about the Functional Apparel Market
What is the estimated value of the Functional Apparel Market?
What is the growth rate of the Functional Apparel Market?
What is the forecasted size of the Functional Apparel Market?
Who are the key companies in the Functional Apparel Market?
| Report Attribute | Details |
|---|---|
| No. of Pages | 245 |
| Published | March 2020 |
| Forecast Period | 2018 - 2026 |
| Estimated Market Value ( USD | $ 282.3 billion |
| Forecasted Market Value ( USD | $ 505.8 billion |
| Compound Annual Growth Rate | 7.6% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: FUNCTIONAL APPARELS MARKET, BY PRODUCT TYPE
CHAPTER 5: FUNCTIONAL APPARELS MARKET, BY APPLICATION
CHAPTER 6: FUNCTIONAL APPARELS MARKET, BY DISTRIBUTION CHANNEL
CHAPTER 7: FUNCTIONAL APPARELS MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
Executive Summary
According to the report titled, 'Functional Apparel Market by Nature and Application: Global Opportunity Analysis and Industry Forecast, 2019-2026,' the functional Apparel market size was valued at $282.30 billion in 2018 and is expected to reach $505.80 billion by 2026, registering a CAGR of 7.7% from 2019 to 2026. In 2018, Europe accounted for nearly 30.2% share of the functional apparel market.Functional apparels are among the main types of technical textiles clothing that are receptive to new product development and technologies. The emergence of functional clothing has been fueled by recent breakthrough and advances of technical fibers and fabrics materials that are being used.
Millennials tend to take a more holistic approach to health and wellness factor. They are active and always keen to indulge in fitness oriented activities. Fitness has become an integral part of one’s daily routine. Considering millennials’ perception on fitness, functional apparel manufacturers have successfully built an emotional connect between their products and customer. These customers specifically seek for apparels that promote an active lifestyle. Hence a rise in the number of millennials turns out to be an influential trend.
The extensive advantages offered by active wear such as water resistance, bi-stretchable function, anti-bacterial fabric, wicking function, and others, and surge in participation of customers in physical and fitness activities act as the key driving factors of the global market. Moreover, female consumer base for active wear is increasing, owing to holistic approach of female customers toward sports and fitness. Likewise, increase in adoption of athleisure wear as work or street wear propels the growth of the overall market. Furthermore, rise in disposable income and an increase in fitness concerns significantly contribute toward the functional apparel market growth.
However, volatile cost of raw materials and inflated cost of designing lead to high cost of the final product. This hampers the sales of the product among product type-sensitive customers, thereby restraining the market growth. Moreover, presence of counterfeit br ands results in safety issues and inconvenience for consumers, which hamper the growth of the market. Hence volatile raw material cost hampers the market during the functional apparel market forecast.
The global functional apparel market analysis is segmented into product type, application, distribution channel, and region. Based on product, the market is segmented into sportswear, active wear, protective clothing and others. Based on application, the market is segmented into sports industry, outdoor clothing and healthcare. Based on distribution channel, the market is segmented into offline and online. By region, it is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, Spain, UK, Italy, France, and rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, UAE, and rest of LAMEA).
According to Shankar Bh , Senior Analyst, Consumer Goods, “The functional apparel companies have been strategizing on extending its product offerings that cater to specific requirements of target customers.”
Key Findings of the Study
- In 2018, based on product type, the sportswear segment accounted for around higher value Functional apparel market share.
- In 2018, based on application, the sports industry segment accounted for 38.3% share of the market.
- In 2018, based on distribution channel, the offline segment accounted for higher share of the Functional apparel market.
- In 2018, based on region, Europe accounted for a prominent market share and is anticipated to grow at a significant rate during the forecast period.
Key players operating in the functional apparel industry include Puma, Nike, Under Armour, Adidas, Lululemon Athletic, Asics Corporation, Columbia Sportswear Company, Gap Inc., North Face, Phillips-Van Heusen Corporation, and others.
Companies Mentioned
- Puma
- Nike
- Under Armour
- Adidas
- Lululemon Athletic
- Asics Corporation
- Columbia Sportswear Company
- Gap Inc.
- North Face
- Phillips-Van Heusen Corporation
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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