Published on : Jan 31, 2018
Albany, New York, January 31, 2018: With the evolution of society, fashion statement has also revolutionized. Worldwide, work-related stress and consumption of high-calorie food have provoked health consciousness among individuals. Individuals have become more selective about apparels they wear for gym sessions, personal training, and casual work. In this scenario, sports apparel for the youth has become a very attractive market. A latest report, titled “Functional Apparel Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017 – 2025” has been broadcasted to the massive repository of Market Research Hub (MRH), which finds that rising demand for high-performance, application-specific apparel and footwear along with rising participation in sports and fitness activities are some of the important facts driving market growth of functional apparel.
Key Insights from the Study
The main objective of the report is to offer a wide-ranging strategic scrutiny of worldwide functional apparel market revenue along with the growth estimates for the assessment period, 2017 till 2025. In order to provide a comprehensive view of the market, the report begins with an overview of functional apparel, evaluating market performance in terms of revenue, followed by analysis of key trends, drivers, and restraints witnessed in the global market in the recent past.
Functional apparels are manufactured using advanced technology are usually made of polyester fabric or microfiber that absorbs sweat. These apparels also help athletes to stay dry and comfortable. Looking to these features, analysts clearly states that the rising interest in sports and fitness activities over the past couple of years is a key factor driving the functional apparel market. As per the report key evaluations, the global functional apparel market is anticipated to clock a striking 13.5% CAGR during the forecast period between 2017 and 2025. Rising at this pace, the market will be valued at US$244.61 bn by the end of 2025.
An important section of the report is market segmentation. With the purpose of providing readers a comprehensive overview of the market, the report segments the market on the basis of type, and region. Region-wise, North America is anticipated to emerge as the leading regional market for functional apparel over the forecast period from 2017 to 2025. One of the prime factors behind this region’s growth is the growing inclusion of physical activity in the daily life.
On the basis of type, functional apparel include sportswear, outdoor apparel, footwear, socks, and innerwear. Of them, the footwear segment is anticipated to display faster growth rate until the end of 2025.
Some of the prime players operating in the global market are Addidas, Nike Inc., Columbia, Under Armour Inc., MIZUNO Corporation, Skechers USA Inc., New Balance Inc., Puma, Patagonia, Inc., Head, Icebreaker, Wacoal, Victoria Secret, Pink (L Brands), Calvin Klein, Tommy Hilfiger, True & Co.(PVH Corporation), Hanesbrand Inc., Jockey International, Russell Brands, LLC. and Umbro. Further, some premium/performance brand are Jack Wolfskin Retail GmbH, Merrell, Montane, RHONE, VF Corporation.
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