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Pulished Date September, 2021
ID: 12172
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Functional Apparel Market segmented by Areas of Functionality (Protective Clothing, Sports-functional Clothing, Medical -functional Clothing, Clothing for special needs), By Application (Professional Athletic, Armature Athletic, Others), By Distribution Channel (Supermarkets/Hypermarkets, Specialty Stores, Online Stores), and by Geography ¬– Size, Share & Trends (2021-2026)

Pulished: September, 2021
ID: 12172
Pages: 175

Functional Apparel Market Forecast 2021-2026:

Functional Apparel Market was valued at USD 527.76 billion in 2021. The market is expected to reach USD 527.76 billion by 2026 by growing at a CAGR of 6.4% during 2021-2026. The factors like durability, safety, better performance, and the availability of numerous items in various materials, like cotton, synthetic and polysynthetic, and polyester, are all creating a functional apparel market.

The functional apparel market is highly competitive as there is a monopoly of top key players, and there is a shallow scope for new entrants to enter the market. Furthermore, the available products have high prices, so comparing the price, very few companies offer functional apparel at low prices. Therefore, there is a need for products with low prices and high durability in the market.

Functional Apparel Market Drivers and Restraints:

One of the primary essential aspects fueling demand for different forms of functional apparel, notably active wear or sportswear apparel, is the rise in fitness & wellbeing trends. Growing demand for protective clothing, which is used for protection from sun, rain, snow, etc., is driving the global functional apparel market. In addition, people's lives are changing. As a result, a rising desire to wear active wear in everyday life is expected to drive total demand for functional gear in the projected period.

The fitness sector is heavily marketed within the demographics. Several fitness influencers have already been pushing a sportswear brand that has attracted the interest of potential buyers. Increasing expenditure capabilities and increased urbanization are expected to propel the industry forward, particularly in developing economies. In addition, in the mining and construction industries, there is increasing demand for functional workforce apparel.

The increasing counterfeit brand's products in the market hamper the market growth. 

Recent Developments:

Mechanix Wear, a market leader in high-performance hand protection, has announced an official partnership with clim8. It is also a pioneer in intelligent thermal innovation for wearables around the world. Due to this partnership deal, Mechanix Wear has become the official working glove licensee of clim8 technology within the US for 2021. As a result, the company will offer the first work glove in the United States with a self-activating, controlling, and smart heating system tailored to each user's preferred level of comfort.

Significant Challenges in the marketplace:

The major challenge for the functional apparel manufacturers is material selection during the manufacturing of the products to meet the user demand as innovation and development is going on with the fabric and the increasing fashion trend in the market. Due to the monopoly of top key players in the market, the very low scope for new entrants and is the challenge for the low and mid businesses present in the industry worldwide.

Competition in the marketplace:

The market is fiercely competitive. Nike, Adidas, Under Armour, Puma are industry leaders with essential innovations and patents and high-end users; they have created a monopoly position in the competitive market.

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2021 – 2026

Base Year

2020

Forecast Period

2021 - 2026

CAGR

6.4% 

Segments Covered

By Areas of Functionality, By Application, By Distribution Channel

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

Market Leaders Profiled

Nike, Under Armour, Adidas, Puma, Lululemon Athletica, Asics, Anta, Sketchers, Ralph Lauren, Columbia Sportswear, Gap

Functional Apparel Market Segmentation:

By Areas of Functionality:

  • Protective Clothing
  • Sports-functional Clothing
  • Medical -functional Clothing
  • Clothing for special needs

By functionality, the market is segmented into protective, sports-functional, medical-functional, and special needs Clothing. The sports-functional segment holds the largest market share due to the increasing awareness regarding personal health and fitness. Protective Clothing has the second largest market share due to its expanding use in the working areas. The medical, functional clothing segment is expected to grow with a high growth rate during the forecast period due to the COVID 19 impact on the medical field.

By Application:

  • Professional Athletic
  • Armature Athletic
  • Others

By application, the market is segmented as professional and armature athletic and others. Due to the increasingly strong demand for sportswear in everyday life by youth and working people, the armature athletic segment holds a market share of more than 37%. Therefore, it is also expected to grow with a significant growth rate. The other application of functional apparel includes workforce garments used during construction, mining, and other emergency departments like fire and safety. Therefore, it is anticipated to grow with a significant growth rate during the projected period.

By Distribution Channel:

  • Supermarkets/Hypermarkets
  • Specialty Stores
  • Online Stores

Due to customers' increased preference for buying functional apparel from supermarkets, where they can see it and feel its material and have the correct fit. Customers can choose from a wide choice of products due to the easy and widespread availability of functional apparel at supermarkets/hypermarkets. Therefore, this factor is projected to propel the category forward in the near future.

Along with this, the online store's segment is also growing at a moderately high rate due to the increasing e-commerce sector and the COVID 19 pandemic.

Functional Apparel Market-by Geography:

  • North America
  • Europe
  • Asia Pacific
  • South America
  • Middle, East, and Africa

China holds around 28% market share and leads the functional apparel market. Followed by which North America has 25% of the market share. 

By revenue, more than 60% of the functional apparel market is held by North America and the

Asia Pacific combined. This combined revenue dominance of the Asia Pacific and North America region is due to the increasing disposable income, rising urbanization, and advanced lifestyle in the regional countries like the United States, India, and China.

The European market is expected to grow with a significant growth rate during the projected timeframe due to increased health awareness and a positive view of the population towards a healthy life and lifestyle. 

Moreover, South America, the Middle East, and Africa are anticipated to grow with a moderate growth rate during the projected timeframe.

COVID 19 impact on the Functional Apparel Market:

The ongoing COVID 19 pandemic has impacted various sectors of the value chain around the world. To combat the spread of COVID 19, nations worldwide imposed lockdowns and strict restrictions for manufacturing and supply. This has had a considerable impact on global value chains, as well as distribution and management capabilities. In addition, because of their declining popularity, several end-client firms lost a significant amount of money.

Due to the pandemic, the awareness regarding health and fitness is increased, which led to an increase in sales of sports-functional apparel and Medical-functional Clothing. Out of these sales, a significant deal has occurred on online platforms.

Major Key Players in the Market:

  • Nike
  • Under Armour
  • Adidas
  • Puma
  • Lululemon Athletica
  • Asics
  • Anta
  • Sketchers
  • Ralph Lauren
  • Columbia Sportswear
  • Gap

1. Introduction                                 

                1.1 Market Definition                    

                1.2 Scope of the report                

                1.3 Study Assumptions                 

   1.4 Base Currency, Base Year and Forecast Periods                          

2. Research Methodology                                           

                2.1 Analysis Design                         

                2.2 Research Phases                      

                                2.2.1 Secondary Research           

                                2.2.2 Primary Research 

                                2.2.3 Data Modelling      

                                2.2.4 Expert Validation  

                2.3 Study Timeline                          

3. Report Overview                                        

                3.1 Executive Summary                

                3.2 Key Inferencees                       

4. Market Dynamics                                       

                4.1 Impact Analysis                         

                                4.1.1 Drivers      

                                4.1.2 Restaints  

                                4.1.3 Opportunities        

                4.2 Regulatory Environment                       

                4.3 Technology Timeline & Recent Trends                            

5. Competitor Benchmarking Analysis                                    

                5.1 Key Player Benchmarking                     

                                5.1.1 Market share analysis        

                                5.1.2 Products/Service  

                                5.1.3 Regional Presence               

                5.2 Mergers & Acquistion Landscape                      

                5.3 Joint Ventures & Collaborations                        

6. Market Segmentation                                              

                6.1 Functional Apparel Market , By Areas of Functionality                             

                                6.1.1 Protective Clothing              

                                6.1.2 Sports-functional Clothing

                                6.1.3 Medical -functional Clothing            

                                6.1.4 Clothing for special needs

         6.1.5 Market Size Estimations & Forecasts (2021-2026)   

                                6.1.6 Y-o-Y Growth Rate Analysis             

                                6.1.7 Market Attractiveness Index          

                6.2 Functional Apparel Market , By Application                  

                                6.2.1 Professional Athletic           

                                6.2.2 Armature Athletic

                                6.2.3 Others      

      6.2.4 Market Size Estimations & Forecasts (2021-2026)   

                                6.2.5 Y-o-Y Growth Rate Analysis             

                                6.2.6 Market Attractiveness Index          

                6.3 Functional Apparel Market , By Distribution Channel                               

                                6.3.1 Supermarkets/Hypermarkets         

                                6.3.2 Specialty Stores    

                                6.3.3 Online Stores         

          6.3.4 Market Size Estimations & Forecasts (2021-2026)   

                                6.3.5 Y-o-Y Growth Rate Analysis             

                                6.3.6 Market Attractiveness Index          

7. Geographical Landscape                                         

                7.1 Global Identity Governance and Administration Market, by Region 

                7.2 North America - Market Analysis (2021 - 2026)  

                                7.2.1 By Country              

                                                7.2.1.1 USA

                                                7.2.1.2 Canada

                                7.2.2 By Areas of Functionality  

                                7.2.3 By Application        

                                7.2.4 By Distribution Channel     

                7.3 Europe                         

                                7.3.1 By Country              

                                                7.3.1.1 UK

                                                7.3.1.2 France

                                                7.3.1.3 Germany

                                                7.3.1.4 Spain

                                                7.3.1.5 Italy

                                                7.3.1.6 Rest of Europe

                                7.3.2 By Areas of Functionality  

                                7.3.3 By Application        

                                7.3.4 By Distribution Channel     

                7.4 Asia Pacific                  

                                7.4.1 By Country              

                                                7.4.1.1 China

                                                7.4.1.2 India

                                                7.4.1.3 Japan

                                                7.4.1.4 South Korea

                                                7.4.1.5 South East Asia

                                                7.4.1.6 Australia & NZ

                                                7.4.1.7 Rest of Asia-Pacific

                                7.4.2 By Areas of Functionality  

                                7.4.3 By Application        

                                7.4.4 By Distribution Channel     

                7.5 Latin America                             

                                7.5.1 By Country              

                                                7.5.1.1 Brazil

                                                7.5.1.2 Argentina

                                                7.5.1.3 Mexico

                                                7.5.1.4 Rest of Latin America

                                7.5.2 By Areas of Functionality  

                                7.5.3 By Application        

                                7.5.4 By Distribution Channel     

                7.6 Middle East and Africa                           

                                7.6.1 By Country              

                                                7.6.1.1 Middle East

                                                7.6.1.2 Africa

                                7.6.2 By Areas of Functionality  

                                7.6.3 By Application        

                                7.6.4 By Distribution Channel     

8. Key Player Analysis                                    

                8.1 Nike                               

                                8.1.1 Business Description           

                                8.1.2 Products/Service  

                                8.1.3 Financials 

                                8.1.4 SWOT Analysis       

                                8.1.5 Recent Developments       

                                8.1.6 Analyst Overview 

                8.2 Under Armour                          

                8.3 Adidas                          

                8.4 Puma                            

                8.5 Lululemon Athletica                

                8.6 Asics                              

                8.7 Anta                              

                8.8 Sketchers                    

                8.9 Ralph Lauren                              

                8.10 Columbia Sportswear                          

                8.11 Gap                             

9. Market Outlook & Investment Opportunities                                

Appendix                                           

                List of Tables                     

                List of Figures                   

  • Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
  • Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
  • Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
  1. Global Functional Apparel Market By Region, From 2021-2026 ( USD Billion )
  2. Global Functional Apparel Market By Areas of Functionality , From 2021-2026 ( USD Billion )
  3. Global Protective Clothing Market By Region, From 2021-2026 ( USD Billion )
  4. Global Sports-functional Clothing Market By Region, From 2021-2026 ( USD Billion )
  5. Global Medical -functional Clothing Market By Region, From 2021-2026 ( USD Billion )
  6. Global Clothing for special needs Market By Region, From 2021-2026 ( USD Billion )
  7. Global Functional Apparel Market By Application, From 2021-2026 ( USD Billion )
  8. Global Professional Athletic Market By Region, From 2021-2026 ( USD Billion )
  9. Global Armature Athletic Market By Region, From 2021-2026 ( USD Billion )
  10. Global Others Market By Region, From 2021-2026 ( USD Billion )
  11. Global Functional Apparel Market By Distribution Channel , From 2021-2026 ( USD Billion )
  12. Global Supermarkets/Hypermarkets Market By Region, From 2021-2026 ( USD Billion )
  13. Global Specialty Stores Market By Region, From 2021-2026 ( USD Billion )
  14. Global Online Stores Market By Region, From 2021-2026 ( USD Billion )

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