Functional Apparel Market Projected to Reach USD 638.7 billion, at a 5.9% CAGR by 2031 – Exclusive Report by Transparency Market Research, Inc.
Fashion and consumer awareness of functional apparel will increase demand over the years to come
Wilmington, Delaware, United States, Feb. 07, 2024 (GLOBE NEWSWIRE) -- *Transparency Market Research Inc. -*The functional apparel market was worth US$ 360 billion in 2021. *A CAGR of 5.9%* is expected from 2022 to 2031. By 2031, the global market for functional apparel is projected *to reach US$ 638.7 billion*. Technological advancements and improvements in manufacturing may make it possible to customize and personalize functional apparel to a greater extent.
Consumers may be able to create clothing with tailored performance features or customized designs to meet their specific needs. The shift towards individualization can enhance the user experience and satisfaction. Wearable technologies and smart textiles combined with practical clothes will be major players in next few years. Developing textiles with integrated sensors to track health indicators, control body temperature, and improve overall performance. Smart clothes with seamless connections to gadgets and apps for in-the-moment data analysis are expected to increase demand in the coming years.
*Request for sample PDF copy of report**: **https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=37691**Prominent functional apparel market players in TMR’s report are as follows:*
· Adidas AG
· Asics Corporation
· Calvin Klein
· Hanes Brands Inc.
· Head Icebreaker
· Jockey International
· MIZUNO Corporation
· Nike Inc.
· Puma SE
· Russell Brands, LLC
· Skechers USA Inc.
· Umbro
· Under Armour Inc.
· Timberland LLC
Functional apparel may become more globally accessible because of the world's increasing interconnectedness. Digital technologies and e-commerce platforms will enable consumers to buy functional apparel that suits their lifestyles, encouraging cross-cultural collaborations.
*Key Findings of the Market Report*
· In terms of material, polyester held a key share in 2021, as it is durable and resistant to most chemicals.
· The footwear segment held a major market share.
· Based on functionality, biological, chemical, and radiation hazards protection is expected to drive demand in the market.
· Chemical resistant market for functional apparel in the market is expected to grow.
· Rising e-commerce websites will drive demand for functional apparel in the market.
*Global Functional Apparel Market: Growth Drivers*
· Fitness and health are becoming increasingly important to the worldwide consumer population. More health-conscious people seek sportswear and activewear that wicks moisture, control temperature and blocks UV rays. Researchers are working on creating advanced fabrics with enhanced properties based on ongoing research in material science.
· Material advancements that adapt to a wide range of environmental conditions provide a wide range of options for clothing, including lightweight, durable, and adaptive materials.
· Activewear that can be worn for both fitness activities and everyday life is becoming increasingly popular as lines between traditional athletic wear and casual clothing blur. In order to meet consumers' needs, manufacturers create clothing that is both functional and fashionable and that can be worn in casual settings as well as at the gym.
· As the functional apparel market has expanded, textile technologies have become increasingly important. Performance-enhancing fabric features such as antimicrobial properties, odor resistance, and stretchability have been developed through fabric materials and manufacturing innovations.
· In addition to improving functionality, these technological advancements improve the durability and longevity of the apparel, attracting consumers looking for long-lasting, high-quality clothes.
*Global Functional Apparel Market: Regional Landscape*
· *Asia Pacific is expected to drive demand for the functional apparel market*. Consumer awareness about health and wellness has increased significantly across Asia-Pacific. Fitness and well-being are becoming increasingly important as lifestyles become more fast-paced.
· *A surge in active lifestyles has led to a huge need for functional apparel that is moisture-wicking*, breathable, and provides enhanced performance. Athleisure and sportswear are becoming more popular as consumers seek comfort during physical activity.
· *Textile manufacturing technology has advanced and innovated greatly in the Asia-Pacific region*. Research and development are being conducted to create fabrics that wick moisture, regulate temperature, and treat bacteria. In addition to providing consumers with functional clothing, these innovations help address growing environmental concerns by contributing to the sustainability of apparel.
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*Global Functional Apparel Market: Key Players*
Functional apparel is dominated by a few players worldwide. Mergers and acquisitions and expanding product portfolios are two key strategies prominent companies adopt.
*Key Developments*
· *In June 2023, **HanesBrands (HBI),* known for its iconic apparel brands, partnered with the University of Minnesota to create a new primary apparel line. Upon signing the 10-year strategic agreement, HBI will become the exclusive manufacturer, designer, and distributor of high-quality, trend-setting fanwear.
· *In September 2023, **Adidas and Rheon Labs* teamed up to manufacture a new smart polymer-based activewear collection. Featuring Adidas' technical materials and Rheon's reactive super polymer, the new Adizero Control collection is designed to provide athletes with energy control that improves performance.
*Global Functional Apparel Market: Segmentation*
*By Type*
· Sportswear
· Outdoor Clothing
· Innerwear
· Athletic Innerwear
· Non-Athletic Innerwear
· Footwear
· Athletic Footwear
· Non-Athletic Footwear
· Socks
· Athletic Socks
· Non-Athletic Socks
*By Material*
· Conventional Fabric
· Polypropylene
· Cotton
· Bamboo
· Wool
· Polyester
· Specialty Fabric
· Neoprene
· Spandex
· Others
*By Functionality*
· Protective-Functional
· Environmental Hazards Protection
· Biological, Chemical, and Radiation Hazards Protection
· Injury Protection
· Medical Functional
· Therapeutic and Rehabilitation Clothing
· Bio-sensing Clothing
· Vanity Clothing
· Others
*By Specification*
· Chemical Resistant
· Flame Resistant
· Water Resistant
· Heat Resistant
· Extreme Cold Resistant
· Radiation Resistant
· Moisture Resistant
· Others (Sweat Absorbing, etc.)
*By Size*
· Small
· Medium
· Large
· Others (XXL, XS)
*By End User*
· Men
· Women
· Kids
*By Price*
· Low
· Medium
· High
*By Distribution Channel*
· Online
· Company-owned Websites
· E-commerce Websites
· Offline
· Hypermarkets/Supermarkets
· Others
*By Region*
· North America
· Europe
· Asia Pacific
· MEA
· South America
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