Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Functional Apparel Market size was valued at USD 389.04 billion in 2024 and is set to exceed USD 860.85 billion by 2037, registering over 6.3% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of functional apparel is evaluated at USD 409.87 billion.
Functional Apparel Sector: Growth Drivers and Challenges
Growth Drivers
- Rising awareness regarding a healthy lifestyle: To attain a healthy regime, consumers are investing significantly in the functional apparel market. An increasing rate of sports and other adventurous activities such as trekking, cycling, and others is boosting the target market growth. Additionally, the budding demand for functionality-specific apparel and footwear together with the collective participation rate of the young populace in several sports activities are also estimated to contribute towards the growth of the target market. Moreover, growing R&D undertakings in medical laboratories is an additional factor enhancing the demand for medical laboratory wear apparel, which, in return, has led to overall market growth.
Further, a rise in disposable income, increasing commercialization of these apparel, online spending, an increasing number of market players, and awareness about functional apparel is estimated to drive the market.
Challenges
- There is an abundance of counterfeit products available in the market at a lower cost which is a significant factor anticipated to hamper the growth of the target market.
Functional Apparel Market: Key Insights
Functional Apparel Segmentation
The functional apparel market is segmented by product type, fabric finishing, application, distribution channel and region. Among segmentation by product type, the sportswear segment is expected to capture significant revenue share in the market owing to increasing awareness concerning a healthy lifestyle, which is encouraging consumers to actively consider sports and other fitness activities that required functional apparels. The sportswear segment includes functional apparels for different types of sports, such as cycling apparels, swimwear, gymnastics wear gym wear and others. The healthcare segment is projected to witness the largest share during the forecast period owing to a rush in the medical advancement segment that has enabled a continuous enhancement in clothing.
Our in-depth analysis of the global market includes the following segments
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By Product Type |
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By Fabric |
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By Finishing |
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By Application |
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By Distribution Channel |
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Customize this ReportFunctional Apparel Industry - Regional Synopsis
North America industry is likely to account for largest revenue share by 2037, attributed to increasing participation of baby boomers in fitness, and physical activities, and easy accessibility to the functional apparel in specialized and online stores.
The European region is anticipated to hold the second-largest market share in the functional apparel market. Expansion of e-commerce, rising spending power, growing population, presence of dominant market players, and rising awareness related to fitness activities are the key factors that have augmented the growth of the target market in this region.
Asia-Pacific is estimated to grow at the fastest rate during the forecast period led by the developing countries. Factors such as the growing awareness regarding functional apparel for fitness regimes, along with the rising purchasing power of the consumers, and infiltration of leading players, growing population, have been fueling the demand for the functional apparel market in this region.
Companies Dominating the Functional Apparel Landscape
- PUMA SE
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Nike, Inc.
- Under Armour®, Inc.
- adidas
- Lululemon Athletic
- ASICS America Corporation
- Columbia Sportswear Company
- Gap Inc.
- THE NORTH FACE
- PVH Corp.
In the News
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June 05, 2020: Reacting to the trending hashtag “#blacklivesmatter" after the death of George Floyd in police custody on May 25, 2020, Converse committed to working with Nike and Jordan to pledge $40 million over the next four years to support the Black communities by focussing on organizations promoting social justice, boosting education and battling racial inequality.
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May 27, 2020: Under Armour tweeted how proud they are to support the LGBTQ+ diversity in sport year-round and launched its newest collection called UA Pride collection.
Author Credits: Parul Atri
- Report ID: 2727
- Published Date: Dec 23, 2024
- Report Format: PDF, PPT
