The growing number of sports and several other outdoor adventures such as hiking, cycling, etc. drive market growth.
NEW YORK CITY, NEW YORK, USA, August 5, 2022 /EINPresswire.com/ — The Global functional clothing market is expected to reach $519.04 billion by 2027, according to a new report from Reports and Data. Rising trend in health and wellness is one of the major influencing factors that propelled the demand for explicit sportswear or sporting goods of various types of clothing. Consumers all over the world have taken their fitness business seriously by indulging in multiple sports and fitness activities. The growing number of sports and several other outdoor adventures such as hiking, cycling, etc. drive market growth. Rapid growth in feature-specific apparel and footwear, along with increasing youth participation rates in various sports activities, are some of the major factors expected to drive the growth of the market.
Additionally, a growing health awareness among individuals and a growing willingness to perform training activities that help combat different ailments are expected to fuel growth. Compression innovation is one of the most commonly implemented technologies in workout apparel, shoes and socks. Applying controlled surface pressure to different parts of the body accelerates blood flow, increases oxygen delivery to exercised muscles and improves their efficiency. A balance of these factors allows a person to train longer at a higher pace.
A major limiting factor in the market is the high price of garments owing to the use of modern technologies to lighten garments and improve their durability. In addition, product duplicity, which decreases the market demand for the original brand, is expected to act as a restraining factor in the global market in the coming years.
The impact of COVID-19:
The outbreak has raised concerns about the value of hygiene and health care. The market has seen a decline over the weeks, which could continue over the next few months. This pandemic has affected the Asia-Pacific region the most, with China being at the center of the outbreak. Most initiatives have been temporarily halted in several countries. Production, as well as supply, has been suspended, causing losses to manufacturers, dealers as well as consumers. The market may face a downside for the period. Yet, with a growing health problem, the demand would hit the ceiling as soon as there was a change in the condition.
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Other key findings from the report suggest
• In North America, the professional sports segment accounted for 46.2% of revenue share in 2019 and is expected to grow from USD 46.81 billion in 2019 to USD 80.37 billion. This may be due to their changing lifestyle and increased participation in sports activities.
• Sports shoes are designed to improve comfort by reducing/eliminating injuries and helping to improve athletic efficiency. The increase in the number of foot allergies and diseases constantly drives the need for advanced functionality in athletic shoes and socks. Manufacturers in the textile industry incorporate advanced technology into knitwear.
• The hypermarket/supermarket segment is responsible for a larger functional clothing market share because most of the products/services are easily available at low prices in these stores. These stores promote the availability of practical fashion items, both branded and private label
• The increasing need for eco-friendly products aims to generate new opportunities for industry growth due to the increasing health and environmental issues related to many different types of fabrics. Technological developments such as antibacterial, sweat-wicking materials and warmer garments for cold climates are expected to see strong growth over the forecast period.
• Major 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, the reports and data have segmented the global functional clothing market on the basis of product, application, distribution channel and region:
Product Outlook (Revenue, USD Billion; 2017-2027)
• Sports clothing
• Sports clothing
• Protective clothing
Application Outlook (Revenue, USD Billion; 2017-2027)
• Professional athlete
• Athletic armor
Distribution Channel Outlook (Revenue, USD Billion; 2017-2027)
• Convenience stores
• On line
Regional Outlook (Revenue, USD Billion; 2017-2027)
• North America
o United States
o United Kingdom
• Asia Pacific
• Latin America
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