Functional Apparel Market Size, Share, Growth Analysis, 2032

Functional Apparel Industry Perspective

The global functional apparel market size was worth around USD 334.7 billion in 2023 and is predicted to grow to around USD 616.3 billion by 2032 with a compound annual growth rate (CAGR) of roughly 7.14% between 2024 and 2032.

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The report covers a forecast and an analysis of the functional apparel market on a global and regional level. The study provides historical data from 2018 to 2022 along with a forecast from 2024 to 2032 based on revenue (USD Billion). The study includes the drivers and restraints of the functional apparel market along with their impact on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the functional apparel market on a global level.

In order to give the users of this report a comprehensive view of the functional apparel market, we have included a competitive landscape and an analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein all the segments are benchmarked based on their market size, growth rate, and general attractiveness.

Functional Apparel Market: Growth Factors

Functional apparels are designed to perform specific functions according to varied consumer requirements. These requirements may be ensuring protection against heat and water while engaging in some sporting activities. These apparels have gained popularity in recent times, due to the comfort they offer.

The global functional apparel market is expected to show significant growth in the future, owing to the growing participation in fitness and sports activities due to increased health-consciousness of the global population. These apparels help athletes to stay dry by absorbing their sweat. Moreover, the increase in disposable income and changing lifestyle along with increasing urbanization are also contributing to the functional apparel market significantly. However, the high prices of these apparels due to their lightweightness and high durability may restrain this market to some extent. With substantial technological advancements, the functional apparel market will have new growth opportunities to develop better quality products and meet consumer demands more effectively.

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The report provides a company market share analysis to give a broader overview of the key players in the market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new product launches, agreements, partnerships, collaborations & joint ventures, research & development, and regional expansion of major participants involved in the market on a global and regional basis. Moreover, the study covers price trend analysis and the product portfolio of various companies according to the region.

Functional Apparel Market: Segmentation Analysis

The study provides a decisive view of the functional apparel market by segmenting it based on product type, fabric, finishing, and region. All the segments have been analyzed based on present and future trends and the market is estimated from 2024 to 2032.

On the basis of type, the market includes footwear, innerwear, socks, outdoor clothing, sportswear, and swimwear. The footwear segment is expected to show significant growth over the forthcoming years. Sportswear is also expected to show reasonable market growth, due to increasing sports and fitness activities across the globe.

On the basis of fabric, the global functional apparel market comprises conventional and specialty fabrics. Conventional fabric is further categorized into cotton, polypropylene, bamboo, polyester, and wool. Specialty fabric includes  spandex and neoprene.

Conventional fabric dominates the market, as it is generally used in apparels that consumers wear for performing their day-to-day activities. Cotton and woolen clothes are the most widely used fabrics in this category. Specialty fabric, on the other hand, has seen substantial growth advancements in recent years.

By finishing, the market for functional apparel includes stain-resistant, water-resistant, anti-microbial, wicking, and others. Water-resistant finishing is likely to show prominent market growth in the years ahead, owing to its increasing application in sportswear clothing. Anti-microbial finishing is also expected to show robust growth, due to an increase in skin allergies and fungal infections.

Functional Apparel Market: Report Scope

Functional Apparel Market: Regional Analysis

The regional segment includes the historic and forecast demand for North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. North America dominates the global functional apparel market, owing to the region's increased participation in sports and fitness. As a result, there is an increase in customer demand for sportswear and footwear that is anti-microbial, sweat-free, and anti-odor. Europe is likely to experience significant growth in the global functional apparel market during the forecast period, owing to increased health and fitness awareness.

Functional Apparel Market: Competitive Analysis

The global functional apparel market is dominated by players like:

• Asics Corporation
• Nike
• Calvin Klein
• Adidas
• Jockey International
• Russell Brands
• Under Armour
• MIZUNO Corporation
• Umbro

This report segments the global functional apparel market into:

By Type Analysis

• Sportswear
• Outdoor Clothing
• Innerwear
• Footwear
• Socks
• Swimwear

By Fabric Analysis

• Conventional
• Specialty

By Finishing Analysis

• Water-Resistant
• Anti-Microbial
• Wicking
• Stain-Resistant
• Others

By Regional Analysis

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• The Middle East and Africa