With
the presence of a large number of players that offer
application-specific products, the global functional
apparel market is fragmented, states Transparency Market Research
in a new report. Players in the market are investing substantially in
innovative technology to introduce novel products that offer
flexibility, durability, and comfort. Research and development to
introduce eco-friendly fabric to serve the demand for eco-friendly
performance clothing is also the focus of players in the functional
apparel market. Such initiatives will help market players expand
their brand into new categories.
Prominent
names in the global functional apparel market include Addidas,
Columbia, MIZUNO Corporation, New Balance Inc., Icebreaker, Wacoal,
Calvon Klein, Hanesbrand Inc., and French Connection among others.
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According
to estimates provided by a TMR report, the global functional apparel
market is anticipated to clock an impressive 13.5% CAGR during the
forecast period between 2017 and 2025. At this pace, the market will
be valued at US$244.61 bn by the end of 2025.
On
the basis of type, the functional apparel market is divided into
sportswear, outdoor apparel, footwear, socks, and innerwear. Of them,
the footwear segment is anticipated to display faster growth rate
over the forecast period. Region-wise, North America is anticipated
to emerge as the leading regional market for functional apparel over
the forecast period from 2017 to 2025. As individuals are adopting
physical activity and fitness regimes, the demand for sportswear
apparel and footwear with sweat-free, antimicrobial, and anti-odor
features is anticipated to be on the rise in the region.
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