Functional Apparel Market Current Scenario and Growth Prospects to 2023-2028

According to the latest report by IMARC Group, titled, "Functional Apparel Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028",The global functional apparel market size reached US$ 351.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 544.6 Billion by 2028, exhibiting a growth rate (CAGR) of 7.5% during 2023-2028. This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.

Industry Definition and Application:

Functional clothing is clothing that can serve numerous purposes. They are created from soft and pliable materials like polyester, nylon, and viscose, which offer workability, comfort, and the desired practical performance. Manufacturers use reproducible technologies that protect the end product from temperature variations, UV rays, microorganisms, and radiations. As a result, they are widely used in the production of medical, leisure, and sports clothes.

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Functional Apparel Market Trends and Drivers:

The market is primarily driven by the increasing participation in sports-related activities. Nowadays, individuals are adopting physically active lifestyles due to the rising health consciousness, which is escalating the demand for activewear and other functional apparel. In addition, various product innovations, such as the introduction of clothing with additional padding to improve blood circulation, maintain even pressure, and prevent infections, represent another major growth-inducing factor. Besides this, key manufacturers are also using advanced nano and microfibers that absorb sweat from the body to ensure optimal hygiene for the wearer. This, coupled with the rising expenditure capacities and rapid urbanization, especially in developing economies, are creating a favorable market outlook across the globe. Looking forward, IMARC Group expects the market to reach a value of US$ 544.6 Billion by 2028, exhibiting a CAGR of 7.5% during the forecast period (2023-2028).

Global Functional Apparel Market 2023-2028 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Adidas AG
ASICS Corporation
Columbia Sportswear Company
Gap Inc
Lululemon Athletica
Nike Inc.
Puma SE (Artemis S.A)
PVH Corp.
Under Armour Inc
VF Corporation

The report has segmented the market on the basis on product type, application and distribution channel.

Breakup by Product Type:

Sports Wear
Active Wear
Protective Clothing
Others

Breakup by Application:

Sports Industry
Outdoor Clothing
Healthcare

Breakup by Distribution Channel:

Supermarkets and Hypermarkets
Convenience Stores
Online Stores
Others

Breakup by Region:

North America: (United States, Canada)
Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others)
Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)
Latin America: (Brazil, Mexico, Others)
Middle East and Africa

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Key highlights of the report:

• Market Performance (2017-2022)
• Market Outlook (2023- 2028)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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This release was published on openPR.