The demand within the global functional apparel market is rising on account of advancements in the field of sports and athletics. Transparency Market Research (TMR) finds that functional apparels have become immensely popular across multiple domains and industries. This majorly owes to the rising level of standardization across various industries. Functional clothing has especially been in high demand across the sports fraternity, majorly due to the focus given on comfort of players and athletes.
A large population of people has shown an inclination towards wearing well-fitted clothes and shoes. This propensity owes to the successful execution of promotional campaigns by apparel vendors. The use of social media to influence the fashion quotient of the masses has played a vital role in the growth of the global functional apparel market. Moreover, difficulties in finding the right fit has driven people towards the use of functional apparel.
The investment dynamics of the global functional apparel market have improved by leaps and bounds. This is due to the growing popularity of outdoor clothing across the world. Furthermore, the lucrative opportunities that float in the global functional apparel market have also compelled global stakeholders to put their money into it.
Transparency Market Research (TMR) predicts that the global functional apparel market would expand at a healthy CAGR of 6.0% over the period between 2018 and 2026. The total value of the global functional apparel market is projected to touch US$ 596.4 Bn by 2026. Several factors pertaining to advancements in the global clothing sector are behind this stellar growth projection.
Use of Functional Apparel in the Industrial Sector
Safety and wellbeing of workers is amongst the top priorities of manufacturing units and industries. Several industries such as chemical, pharmaceuticals, and automobiles subject workers to harsh and hazardous environment. Hence, functional apparels are extensively used across the manufacturing sector. Government ordinances related to the safety of industrial workers have played a major role in the growth of the global functional apparel market.
Growing Number of Adventure Expeditions
Functional clothing is extensively used by trekkers, mountain climbers, and other adventure enthusiasts. This factor has also played a major role in the growth of the global functional apparel market. The use of functional apparels offers comfort, enhances safety, and eases the journey of travellers and trekkers. Cross-country biking expeditions have also become popular amongst youngsters. This trend shall also reek of growth within the global functional apparel market.
The use of functional apparel by fitness enthusiasts and weightlifters has also created a plethora of opportunities in the global market. There is a recurring need for custom shoes, socks, and other apparels in the fitness industry.