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. Growing numbers of sports and several other outdoor adventures such as hiking, cycling, etc. are driving the growth of the market. Rapid growth for functionality-specific apparel and footwear, along with rising youth population participation rates in various sporting activities, are some of the main factors expected to drive market growth.
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Market Dynamics:
The global Functional Apparel market is rapidly gaining traction over the recent years and is expected to register robust revenue growth throughout the forecast period of 2021 and 2028. The consumer goods sector is rapidly growing due to factors such as paradigm shift in consumer preferences, rising demand for convenience and ongoing COVID-19 pandemic. Rapid revenue growth is attributed to factors such as rising disposable income, improvements in standard of living, and increasing preference for organic food and plant based food products. Moreover, rising health conscious population, increasing preference for online shopping and doorstep deliveries and growing inclination of veganism in several countries across the globe and increasing focus on developing novel products to cater to consumer demand are other factors expected to support market growth going ahead.
Competitive Landscape:
The research report offers details about leading companies in the global Functional Apparel market along with global position, financial standing, license agreement, products and services portfolio and revenue contribution of each market player. Key players in the market are focusing on adopting various strategies such as mergers and acquisition, business expansion plans, new product launches, partnerships, collaborations, joint ventures to enhance their product base and gain robust footing in the market.
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Market Segmentation:
The report also sheds light on the market segmentation based on type, application and region:
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
Functional Apparel Market Segmentation based on Regions:
North America
- S.
- Canada
- Mexico
- Europe
- Germany
- K.
- France
- Italy
- Spain
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East Africa
- Saudi Arabia
- UAE
- South Africa
- Rest of Middle East Africa
Major Companies:
- Nike Inc.,
- Adidas AG,
- Asics Corporation,
- Hanes Brand Inc.,
- Reebok,
- Jockey International Inc.,
- Russell Brands LLC,
- PUMA S.E.,
- Hugo Boss AG,
- Columbia
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