The global functional apparel market was valued at $345,621.4 million in 2022, and is projected to reach $623,234.5 million by 2032, registering a CAGR of 6.1% from 2023 to 2032.
Functional apparel performs multiple functions to provide comfort and protection to the wearer in different environments, unlike fundamental garments which have limited purpose. It incorporates a variety of specially developed fabrics and layered designs, which enable it to perform functions such as protection from radiation, fire, and extreme weather conditions. Consumers find activewear comfortable and flexible, which is attributed to the kind of material used to design such as Synthetic fabrics such as polyester, nylon, cotton, wool, and graphene. Polyester and nylon are the most used materials in athleisure apparels, which altogether tend to provide the best combination of the required properties.
Advancements in fabric technologies lead to more innovative and functional apparels, such as moisture-wicking, temperature-regulating, and odor-resistant fabrics, enhancing comfort and performance for consumers, thus driving market demand. The emergence of technologies such as membrane and nano spinning, which allow manufacturers to produce garments by reducing waste during production processes, delivers more sustainable products. Companies have increased investment in the smart textile industry, which has further introduced opportunities to develop more advanced functional clothing. This includes incorporation of electronic components in garments. Using these technologies, manufacturers deliver new functionality to the consumers, such as increase in durability and protection from abrasion. GRDXKN, which developed 4D printing technology that enables development of cloths with functions such as abrasion resistance, shock absorbent and light weight. This trend continues as companies are increasing investment in research and development, to set their products apart from competitors with more unique attributes.
The demand for functional apparel among the working population is rising, as it provides an easier way to transition from one activity to another. More people realize the time taken for changing clothes, especially in the areas such as hospitals where people must wear special clothes for hygiene and safety reasons, or in corporate spaces where formal wear is needed. According to Nicole Winhoffer, a fitness artist and coach, women prefer cloths that provide more convenience as it saves time and eliminates the need to for changing cloths again for different activities. Functional clothes offer an efficient way to change from activities like yoga or exercise to casual wear. This helps people in overcoming time concerns. It also reduces the need to spend extra money just to meet certain prerequisites in such activities.
The functional apparel market is segmented into product type, application, distribution channel, and region. By type, it is classified into sportswear, activewear, protective clothing, and others. As per application, it is divided into sports industry, outdoor clothing, healthcare, and others. On the basis of distribution channel, the market is categorized into online and offline. Region-wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, and rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
The players in the functional apparel market have adopted acquisition, business expansion, partnership, collaboration, and product launch as their key development strategies to increase profitability and improve their position in the market. Some of the key players profiled in the market analysis include Puma SE, Adidas AG, PVH Corp., Under Armour, Inc., Columbia Sportswear Company, VF Corporation, Nike, Inc., ASICS Corporation, lululemon athletica inc., and The Gap, Inc.
Functional apparel performs multiple functions to provide comfort and protection to the wearer in different environments, unlike fundamental garments which have limited purpose. It incorporates a variety of specially developed fabrics and layered designs, which enable it to perform functions such as protection from radiation, fire, and extreme weather conditions. Consumers find activewear comfortable and flexible, which is attributed to the kind of material used to design such as Synthetic fabrics such as polyester, nylon, cotton, wool, and graphene. Polyester and nylon are the most used materials in athleisure apparels, which altogether tend to provide the best combination of the required properties.
Advancements in fabric technologies lead to more innovative and functional apparels, such as moisture-wicking, temperature-regulating, and odor-resistant fabrics, enhancing comfort and performance for consumers, thus driving market demand. The emergence of technologies such as membrane and nano spinning, which allow manufacturers to produce garments by reducing waste during production processes, delivers more sustainable products. Companies have increased investment in the smart textile industry, which has further introduced opportunities to develop more advanced functional clothing. This includes incorporation of electronic components in garments. Using these technologies, manufacturers deliver new functionality to the consumers, such as increase in durability and protection from abrasion. GRDXKN, which developed 4D printing technology that enables development of cloths with functions such as abrasion resistance, shock absorbent and light weight. This trend continues as companies are increasing investment in research and development, to set their products apart from competitors with more unique attributes.
The demand for functional apparel among the working population is rising, as it provides an easier way to transition from one activity to another. More people realize the time taken for changing clothes, especially in the areas such as hospitals where people must wear special clothes for hygiene and safety reasons, or in corporate spaces where formal wear is needed. According to Nicole Winhoffer, a fitness artist and coach, women prefer cloths that provide more convenience as it saves time and eliminates the need to for changing cloths again for different activities. Functional clothes offer an efficient way to change from activities like yoga or exercise to casual wear. This helps people in overcoming time concerns. It also reduces the need to spend extra money just to meet certain prerequisites in such activities.
The functional apparel market is segmented into product type, application, distribution channel, and region. By type, it is classified into sportswear, activewear, protective clothing, and others. As per application, it is divided into sports industry, outdoor clothing, healthcare, and others. On the basis of distribution channel, the market is categorized into online and offline. Region-wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, and rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
The players in the functional apparel market have adopted acquisition, business expansion, partnership, collaboration, and product launch as their key development strategies to increase profitability and improve their position in the market. Some of the key players profiled in the market analysis include Puma SE, Adidas AG, PVH Corp., Under Armour, Inc., Columbia Sportswear Company, VF Corporation, Nike, Inc., ASICS Corporation, lululemon athletica inc., and The Gap, Inc.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the functional apparel market analysis from 2022 to 2032 to identify the prevailing functional apparel market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the functional apparel market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global functional apparel market trends, key players, market segments, application areas, and market growth strategies.
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Key Market Segments
By Product Type
- Sportswear
- Activewear
- Protective Clothing
- Others
By Application
- Sports Industry
- Outdoor Clothing
- Healthcare
- Others
By Distribution Channel
- Offline
- Online
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia-Pacific
- China
- Japan
- South Korea
- India
- Australia
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
- Puma SE
- Columbia Sportswear Company
- VF Corporation
- PVH Corp.
- The Gap, Inc.
- Under Armour, Inc.
- Nike, Inc.
- Adidas AG
- ASICS Corporation
- Lululemon Athletica Inc.
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: FUNCTIONAL APPAREL MARKET, BY PRODUCT TYPE
CHAPTER 5: FUNCTIONAL APPAREL MARKET, BY APPLICATION
CHAPTER 6: FUNCTIONAL APPAREL MARKET, BY DISTRIBUTION CHANNEL
CHAPTER 7: FUNCTIONAL APPAREL MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
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 SE
- Columbia Sportswear Company
- VF Corporation
- PVH Corp.
- The Gap, Inc.
- Under Armour, Inc.
- Nike, Inc.
- Adidas AG
- ASICS Corporation
- Lululemon Athletica Inc.
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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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 300 |
| Published | November 2023 |
| Forecast Period | 2022 - 2032 |
| Estimated Market Value ( USD | $ 345621.4 million |
| Forecasted Market Value ( USD | $ 623234.5 million |
| Compound Annual Growth Rate | 6.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
