Functional apparel market expected to grow at 7.3% CAGR through 2027 – EIN News | Gmx Pharm

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A growing number of sports and various other outdoor adventures like hiking, cycling, etc. are driving the growth of the market.

NEW YORK CITY, NEW YORK, U.S., Aug. 5, 2022 / — The global performance apparel market is expected to reach $519.04 billion by 2027, according to a new report from Reports and Data. The increasing health and wellness trend is one of the main influencers that has driven the demand for explicitly athletic clothing or sportswear items of various types of garments. Consumers around the world take their fitness activities seriously by indulging in numerous sports and fitness activities. A growing number of sports and various other outdoor adventures like hiking, cycling, etc. are driving the growth of the market. The rapid growth in function-specific apparel and footwear, as well as increasing youth participation rates in various sporting activities are some of the key factors expected to drive the market growth.

In addition, growing health awareness among people and increasing willingness to engage in exercise activities that help combat various ailments are expected to spur growth. Compression innovation is one of the most widely used technologies in training apparel, shoes and socks. The application of controlled surface pressure to different parts of the body accelerates blood flow, increases oxygenation of the trained muscles and improves their performance. A balance of these factors allows a person to exercise longer at a higher rate.

A major market limiting factor is the high price of clothing due to the use of modern technologies to lighten the garments and improve durability. Also, product duplication, which reduces the market demand of the original brand, is expected to act as a restraining factor in the global market in the coming years.

The effects of COVID-19:
The outbreak raised concerns about the value of sanitation and health care. The market has seen a downturn over the past few weeks that could continue for the next few months. This pandemic has hit the Asia-Pacific region hardest, with China at the center of the outbreak. Most initiatives have been temporarily suspended and modified in several countries. Both production and supply were put on hold, causing losses for manufacturers, distributors and consumers. The market could face downside movement for the period. However, amid rising health concerns, demand would skyrocket as the condition evolves.

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Other key findings from the report suggest

• In North America, the professional sports segment accounted for 46.2% of sales in 2019 and is expected to grow to $80.37 billion from $46.81 billion in 2019. This may be due to their lifestyle changes and increased participation in sporting activities.
• Athletic shoes are designed to improve comfort by reducing/eliminating injuries and helping improve athletic performance. The increasing occurrence of foot allergies and diseases continuously drives the need for advanced features in athletic shoes and socks. Textile manufacturers integrate cutting-edge technology into hosiery.
• The hypermarket/supermarket segment accounts for a larger market share of functional apparel as most of the products/services are available cheaply and cheaply in such stores. These stores promote the availability of practical fashion items, both branded and private label
• Increasing demand for environmentally friendly products is expected to create new opportunities for industry growth due to increasing health and environmental issues across many different types of fabrics. Technological developments such as antibacterial material, sweat-wicking and warmer clothing for cold climates are expected to grow strongly in the projected timeframe.
• Key participants include Nike Inc., Adidas AG, Asics Corporation, Hanes Brand Inc., Reebok, Jockey International Inc., Russell Brands LLC, PUMA SE, Hugo Boss AG and Columbia Sportwear Company, among others.

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For the purposes of this report, reports and data have segmented the global Functional Clothing Market on the basis of product, application, distribution channel and region:

Product Outlook (Revenue, $Bn; 2017-2027)
• Sportswear
• Sportswear
• protective clothing
• Footwear
• Other

Bid Outlook (Revenue, $Bn; 2017-2027)
• Professional sports
• Armament Athletic
• Other

Distribution Channel Outlook (Revenue, $Bn; 2017-2027)
• Supermarkets
• Convenience stores
• Online

Regional Outlook (Revenue, $Bn; 2017-2027)
• North America
oh USA
• Europe
o Great Britain
Oh France
• Asia Pacific
Oh China
Oh India
Oh Japan
• Latin America
Oh Brazil

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