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Functional apparel Market: Segmented: by Product Type (Protective Clothing, Sportswear, Active Wear, and Others); By Distribution Channel (Online and Offline); and Region -Analysis of Market Size, Share & Trends for 2016 - 2019 and Forecasts to 2030
Functional apparel market to surpass USD 542 Billion by 2030, which is valued at 242.7 billion in 2019 at a compound annual growth rate of 7.60%.
Functional apparels are those which, besides just their aesthetics and simple wearer safety, feature and perform diverse uses. Various functional clothing styles are available on the market including athletic clothing, laboratory clothing, sports clothing, and medicinal clothing. Most customers find activewear comfortable and durable, due to the type of material used in designing such clothing or footwear. Functional clothing involves many kinds of fabrics, preferably designed to give the end-users beyond their basic function, specific features, such as creasing-free, easy-care, fast-drying, etc. Such clothes are used to protect against harsh temperatures in outdoor sports events, such as trekking. It also defends against risks in industries such as medical laboratories, where specific diagnostic tests are conducted.
According to the report, the world's demand is characterized by rising demand for better output to protect people against heat, rain, wind, and snow. Furthermore, growing people's health consciousness and a growing inclination to workouts that help combat various diseases are expected to fuel the growth of the market.
Global Functional apparel market is segmented by distribution channel into Online and Offline. The segment is expected to expand dramatically as customers increasingly tend to buy items from supermarkets for use in functional apparel, as the product material needs to be seen and should be suitable for an ideal fit. The simple and comprehensive availabilities in supermarkets of practical clothing items allow consumers to select a wide variety of goods. This is intended to contribute to the growth of the offline segment.
Global Functional apparel market is segmented by product type into Protective Clothing, Sportswear, Active Wear, and Others..This category comprises of professional clothing and equipment. The category is anticipated to grow because people enjoy sportswear in their everyday activities and workouts. Also, growing concerns about healthy workouts and their advantages in the Asian Pacific region are expected to shortly increase demand for this segment in the forecasted period.
Surging demand for active apparel
Functional clothing is also becoming increasingly important in the global market due to development in technology and the desire for people for enhanced results. Changing people's lifestyles and an increasing desire to use active clothing are also anticipated to fuel demand for functional clothing in recent years.
Urbanization
Global market for functional apparel is also anticipated to be driven by rising disposable incomes, urban growth, and the launch of technologically advanced goods in emerging countries like India, China, and Bangladesh. However, the trend for rural people to enter urban areas in the countries mentioned above is expected to increase the usefulness of functional apparel.
Applicability in the mining industry
In the building and mining industries, where people face harsh conditions, the market for functional labor clothing is growing. Fire scope induction, water resistance, fireproof apparel, and steel-cutting gloves and boots are expected to surge the demand on the market of functional clothing.
High cost
A significant constraining factor on the market is the high price of clothes because of the use of advanced technologies to make the apparel lightweight and durable. Also, over the next few years, product duplicity and availability of counterfeit products, which lowers the actual brand's consumer demand, will be a limiting factor in the global consumer.
Asia Pacific was the largest market accounting for XX% of total market volume share in 2019
Asia Pacific led the global market for biodegradable mulch films with XX% of the overall demand in 2019. With fast industrialization and urbanization, The Asia-Pacific functional clothing market is expected to be rising significantly as the perception of healthy lifestyles increases. Furthermore, the growing rate of young people's participation in different sports boosts the demand for sportswear which in turn is anticipated to promote regional market growth. A strong production base, raw material availability, and cheaper labor would create an attractive opportunity to broaden the target market in the region.
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