Functional apparel market to reach 228.9 billion pounds by 2026

According to a recent report published by Zion Market Research, the global functional apparel market accounted for 99.24 billion dollars in 2018 and is expected to reach 280.12 billion dollars (228.9 billion pounds) by 2026, growing at a CAGR of 13.8 percent between 2019 and 2026. The main reasons behind these growth prospects include growing participation in fitness and sports activities due to increased health-consciousness among the global population and increase in disposable income and changing lifestyle along with increasing urbanization. However, the report says that high prices of these apparels due to their lightweight features and high durability and duplicity of apparels may restrain this market to some extent.

The report titled: “Functional apparel market by type (sportswear, outdoor clothing, innerwear, footwear, socks, and swimwear), by fabric (conventional and specialty), and by finishing (water-resistant, anti-microbial, wicking, stain-resistant, and others): global industry perspective, comprehensive analysis, and forecast, 2018–2026”, further states that North America, Europe and Asia Pacific are expected to show substantial growth in the functional apparel market globally over the forecast time period, owing to an increase in the awareness about health and fitness.

North America dominates the global functional apparel markets

North America dominates the functional apparel market globally, due to the increase in sports and fitness activities across the region, which has resulted in growing consumer demand for anti-microbial, sweat-free, and anti-odour sportswear and footwear as well as apparels that are both appropriate for work and physical activities.

The report adds that increase in the number of working women in Europe is expected to fuel the non-athletic footwear segment in the region in the years ahead. Moreover, the growing number of promotion and marketing campaigns by big players regarding these apparels are also expected to boost the market in the region, particularly in the UK, France, and Germany.

The Asia Pacific is expected to witness one of the highest functional apparel market growth rates globally, owing to the growing consumer awareness about latest fashion trends and rapid urbanization. The region dominates the globe in terms of highest functional apparel production, due to the easy availability of raw materials and cheap labour. India and China are the main players in this region. In China, the youth is interested in gym activities and running marathons, which is expected to further the functional apparel market in the region.

In Latin America, Brazil is the main regional player, with about more than 60 percent of the youth population increasingly participating in sports and fitness activities and who prefer latest trends and styles. Increasing disposable income of the regional population is also bolstering the region’s functional apparel market. The Middle East and Africa region is likely to grow considerably in the functional apparel market, particularly the UAE due to the rising income of the population, as consumers want to buy and experiment with new apparel trends. Some major players operating in the functional apparel market include Asics Corporation, Nike, Calvin Klein, Adidas, Jockey International, Russell Brands, Under Armour, Mizuno Corporation and Umbro.

Among footwear, innerwear, socks, outdoor clothing, sportswear, and swimwear, innerwear and socks are expected to show substantial growth, due to increasing skin allergies like rashes, fungal infections, etc, while footwear and sportswear segments continue to dominate the market, due to the increasing participation in sports and fitness activities. Among fabric types, specialty fabric is gaining popularity, due to the increasing consumer demand for application-based fabrics, such as diapers, undergarments, thermal-wear, and sportswear, while conventional fabric is also expected to grow due to its application in the manufacturing of casual t-shirts and lowers. The reports adds that anti-microbial finishing is also expected to show robust growth, due to an increase in skin allergies and fungal infections.

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