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Global Functional Workwear Apparel Market Rising Demand Leads to Sustained Growth during the Period 2017-2022
Fact.MR
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The next section offers an overview of the global functional workwear apparel market. This comprises an introduction to the market, along with a standard definition of the product – functional workwear apparel. In this section, market value and year-over-year growth is offered to the readers. Year-over-year growth provides readers with a broader view of growth patterns over the forecast period.
The report’s succeeding section focuses on drivers, restraints and key trends from macroeconomic, demand, and supply perspectives. Impact analysis of weighted average model-based growth drivers is contained in the report for better provision of decision-making insights to clients.
In order to offer readers with up-to-date information about the latest advancements in the global functional workwear apparel market, the report provides updates about market opportunities, which can benefit leading manufacturers of functional workwear apparel. With continuous evolution of the consumer goods sector, keeping a record of latest developments and trends is fundamental for functional workwear apparel manufacturers to formulate key business strategies. Detailed insights about raw material sourcing, supply chain, pricing analysis, list of distributors, and cost structure are provided in this section.
5 Forecast Highlights on Global Functional Workwear Apparel Market
1. Asia Pacific Excluding Japan (APEJ) is expected to emerge as the largest region in the global functional workwear apparel market. Owing to the growth in manufacturing sector, the rise in the new employment opportunities and growth in the service sector are some of the factors driving the functional workwear apparel market in APEJ.
2. Europe is also expected to witness growth in the functional workwear apparel. Manufacturers are focusing are increasingly investing in the research and development in terms of fabric innovation and using advanced materials, enabling functionalities such as water resistance, durability, and maintaining body temperature.
3. Uniforms are expected to be one of the top-selling functional workwear apparel during the forecast period 2017-2026. Uniforms are estimated to bring in more than US$ 300 million revenue by the end of 2026.
4. Compared to the natural fiber, synthetic fiber is expected to account for maximum revenue share by the end of 2017. Synthetic fiber is projected to bring in nearly US$ 600 million revenue by 2026 end.
5. The service sector is expected to emerge as one of the largest buyers of the functional workwear apparel. By the end of 2026, the service sector is estimated to exceed US$ 300 million revenue.
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Synthetic Fiber to Represent a Leading Segment
Increasing employment opportunities and progress in the manufacturing industry is expected to rev up demand for functional workwear apparel in APEJ. On the basis of region, the functional workwear apparel market in APEJ is expected to represent a leading region in the global functional workwear apparel market during the forecast period. The functional workwear market in Europe is expected to represent positive growth bound to increasing investment in the research and development for fabric development and innovation. Manufacturers in this region are further focusing on equipping the workwear with advanced fabric that is durable, water-resistant and maintain body temperature.
Based on workwear type, the uniform segment is expected to generate significant revenues, recording a value of over US$ 600 Mn by 2026-end. The synthetic fiber is expected to outsell the natural globally. In terms of revenue, the synthetic fiber is expected to represent a revenue growth of around US$ 600 Mn during the forecast period. By buyer sector, the service sector segment is expected to remain a dominant market. Throughout the forecast period, the service sector buyer sector segment is expected to witness significant revenue growth, representing a value of over US$ 300 Mn.
Competition Tracking
Leading market players operating in the global functional workwear apparel market include Fristads Kansas AB, V.F. Corporation, Rentokil Initial Plc, Aramark, Ansell Limited, Engelbert Strauss GmbH & Co. KG, Sioen Industries NV, Carhartt, In, Delta Plus Group, Lakeland Industries, Inc, Duluth Holdings Inc., Delta Plus Group, Mascot International A/S, Superior Uniform Group, Inc, Alsico NV and Jonsson Workwear (Pty) Ltd.
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About Fact.MR
Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized Retail & Consumer Goods market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that's why we publish multi-industry global, regional, and country-specific research reports.
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