Functional Apparel Market: Worldwide Industry Analysis and New Market Opportunities Explored 2019 - 2027

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The global functional apparel market is anticipated to clock an impressive 13.5% CAGR during the forecast period between 2019 and 2027. At this pace, the market will be valued at US$ 892.4 bn by the end of 2027. 
Major brands such as NIKE, Puma, Adidas, and Mizuno offer application-specific footwear and apparels. Functional apparels can be classified based on type of sport and application. Based on type of sport, they are classified into running shoes, volleyball shoes, etc. Functional apparels with advanced technology are commonly made of microfiber or polyester fabric that absorbs sweat from the body onto the fabric surface, where it evaporates. As a result, these apparels keep athletes dry and comfortable.
Similarly, all types of functional clothing are designed to provide heating and cooling effects as required. In case of cold weather, the apparel retains energy and resists heat loss. Functional socks feature anti-blister system, active odor control, and durability. They stay dry and comfortable for a long time. Increasing awareness regarding beneficial features of these functional apparels and footwear is drawing customers’ attention toward them instead of conventional clothing and footwear.
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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.
In terms of type, the functional apparel market is divided into sportswear, outdoor apparel, footwear, socks, and innerwear. Among them, the footwear segment is anticipated to display faster growth rate over the forecast period. In terms of region, the market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is one of the key region of functional apparel market. 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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