Market Overview
Global Functional Apparels Market is profiled in great detail in the latest research report from Market Research Future (MRFR), providing readers with a comprehensive overview of the market through its historical growth trajectory, present conditions, and future growth prospects over the forecast period from 2020 to 2023. The historical stats of the functional apparels market are detailed in the report, in order to provide readers with a complete overview of the market’s historical growth trajectory. The historical stats provided in the report also give analysts a solid platform to base future projections about the market. Based on this platform, future projections for the functional apparels market’s growth trajectory over the forecast period are provided in the report. The leading players in the global functional apparels market are also profiled in the report in order to give readers a comprehensive analysis of the leading players in the global functional apparels market. The major drivers and restraints affecting the global functional apparels market are also profiled in the report to provide readers a comprehensive overview of what’s making the market tick and what is holding the market back. The impact of the COVID-19 pandemic on the functional apparels market is also assessed in the report.
Functional apparels are apparels worn for specific purposes such as sporting activities, laboratory operations, and hazardous activities. Functional apparel is specifically designed for the specific purpose and provides optimum performance in the specific activity for which it is designed. The growing demand for specifically designed functional apparel for hazardous jobs is likely to be a major driver for the global functional apparels market over the forecast period. In recent years, industries such as chemicals, petrochemicals, and other related industries have been forced to employ safety equipment for workers due to the growing awareness about the threat posed by the functions of these industries. This is likely to be a major driver for the global functional apparels market over the forecast period.
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The increasing demand for functional sportswear is also likely to be a major driver for the global functional apparels market. The increasing interest in sporting activities such as running, bicycling, and various team sports has led to an increasing demand for functional sportswear. Increasing technological development is also likely to be a major driver for the global functional apparels market over the forecast period. Technologies such as shape changing materials, biopolymers, self-healing coatings, and nanofibers have led to a significant increase in the popularity of functional apparels. This is likely to remain a key driver for the global functional apparels market over the forecast period.
Competitive Leaderboard
Leading players in the Global Functional Apparels Market include Adidas AG, Icebreaker, Tommy Hilfiger Licensing LLC, Nike Inc., New Balance Athletics Inc., Under Armour Inc., ASICS Corporation, Russell Brands LLC, Skechers USA Inc., and Puma SE. As is apparent from this list, many of the world’s leading players in the functional apparels market are sports equipment manufacturers. This shows that sports apparel is likely to be an important market segment in the global functional apparels market over the forecast period. Advertising is likely to be a major strategy for players in the global functional apparels market over the forecast period, as advertising is a way of making consumers aware about various new technologies being used in functional apparel.
Segmentation
Global Functional Apparels Market is segmented on the basis of product type, end user, and region.
By product type, the global functional apparels market is segmented into protective wear, sportswear, laboratory wear, and others. The protective wear segment is further classified as hand protection, foot protection, and others. The sportswear segment is further sub-segmented as head gear, footwear, and others. The laboratory wear segment is further sub-segmented as footwear, lab coats, hand wear, and others.
By end use, the global functional apparels market is segmented into men and women.
Regional Analysis
North America is expected to dominate the global functional apparels market over the forecast period. Rising interest in sports and recreational activities among consumers in North America is a major driver for the market in the region. The high buying power of North American consumers is also a major driver for the global functional apparels market.
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NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.