Functional Apparels Market Share, Revenue, Statistics, Industry Growth and Demand Analysis Research Report by 2027

 

The global Functional Apparel Market is forecast to reach USD 519.04 Billion by 2027, according to a new report by Reports and Data. The increase in health and wellness trend is one of the main influencing factors that has propelled the demand for explicitly athletic wear or sportswear items of various types of garments. Consumers around the world have been taking their fitness activity seriously into consideration by indulging in multiple sports and fitness activities.

The report discusses in detail the strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, corporate and government deals, product launches and brand promotions, and licensing agreements undertaken by the key players to gain a robust footing in the market. The Functional Apparel market research report also offers a thorough SWOT analysis and Porter’s Five Forces analysis to offer key insights into the company’s progress and position.

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Key Players:

Key participants include Nike Inc., Adidas AG, Asics Corporation, Hanes Brand Inc., Reebok, Jockey International Inc., Russell Brands LLC, PUMA S.E., Hugo Boss AG, and Columbia Sportwear Company, among others.

Further key findings from the report suggest:

• In North America, the professional athletic segment accounted for 46.2% of the revenue share in 2019 and is anticipated to grow from USD 46.81 billion in 2019 to USD 80.37 billion. This can be due to their changing lifestyle and increased participation in sports activities.
• Athletic footwear is designed to enhance comfort by reducing/eliminating injuries and aid in improving athletic efficiency. The increase in the occurrence of foot allergies and diseases drives the need for advanced features in athletic shoes and socks continuously. Textile industry manufacturers integrate cutting-edge technology into hosiery goods.
• The hypermarket/supermarket segment is responsible for a larger market share of functional apparel because most of the products/ services are conveniently available at a low rate in such stores. These stores promote the availability of practical fashion items, both branded and private label
• The rising need for eco-friendly products is intended to generate new opportunities for industry growth because of increasing health and environmental issues about many different kinds of fabrics. Technological developments such as anti-bacterial material, sweat-absorbent, and warmer clothing for cold climate are expected to see strong growth over the projected timeframe.

Market Segmentation:

Product Outlook (Revenue, USD Billion; 2017-2027)

• Sportswear
• Activewear
• Protective Clothing
• Footwear
• Others

Application Outlook (Revenue, USD Billion; 2017-2027)

• Professional Athletic
• Armature Athletic
• Others

Distribution Channel Outlook (Revenue, USD Billion; 2017-2027)

• Supermarkets
• Convenience Stores
• Online

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Regional Outlook (Revenue, USD Billion; 2017-2027)

• North America
• U.S
• Europe
• U.K
• France
• Asia Pacific
• China
• India
• Japan
• MEA
• Latin America
• Brazil

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Identifying the basic business drivers, challenges, and tactics adopted:

·         The report provides intrinsic details and fluctuating aspects that influence the commercial dynamics of the Functional Apparels market along with integral factors of the rise in the demand for the product have been mapped across vital geographical regions.

·         An overview of the multifarious applications, business areas and the latest trends observed in the industry has been laid out by this study.

·         Various challenges overlooking the business and the numerous strategies employed by the industry players for successful marketing of the product have also been illustrated.

·         The research inspects the sales channels (indirect, direct, marketing) that companies have chosen for the primary product distributors and the superior clientele of the market.

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