- A major factor driving the growth of functional apparel market is the rising demand for high-performance, application-specific apparel & footwear
- Functional apparel manufactured using advanced technology is usually being made of polyester fabric or spandex.
- The developing world’s emerging middle class is the critical socio-economic factor for market expansion.
Functional clothing is a relatively new & exciting segment of technical textiles group one which is receptive to the new product development & technologies and abounding with the niche applications. Functional clothing is being defined as that specifically being designed & engineered to ensure the predefined performance requirement & functionality for the user.
This also includes protection under the harsh environmental conditions during work or the sporting activities & protection against the extreme hazards & environments.
Major factors driving the growth of functional apparel market are the rising demand for high-performance, application-specific apparel & footwear coupled with rising participation in sports & fitness activities. Functional apparel manufactured using advanced technology is usually being made of polyester fabric or spandex, which absorbs sweat from body on the fabric’s surface, from which it is evaporated. The evaporation process helps keep an athletes stay dry & comfortable.
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Comfort seeking middle class having high disposable income, changing lifestyle, & increasing urbanization has led to the increased demand for functional apparel. The developing world’s emerging middle class is the critical socio-economic factor because of its huge potential as an epitome of growth, particularly in the largest developing countries like China, India &, Sub-Saharan Africa. After showing signs of initial slowdown, China’s economy is currently back on track. China has the largest share with demand for functional apparel being fueled by country’s burgeoning middle-class population.
Also propelled by its robust economic performance and growing middle class, India is at the forefront of future growth opportunities. Rise in the demand for functional apparel is resulting in the increased production of the apparel in these regions. Cheap labor & availability of raw materials is also adding fuel to the production of functional apparel in these regions.
The functional apparel industry is fragmented in nature. Some of the major market players operating in the global functional apparel market are Adidas, Calvin Klein, HanesBrands Inc.,Icebreaker, Jockey International, Nike Inc., Puma SE, Russell Brands LLC, Skechers USA Inc., Umbro, & Under Armour Inc.