Apr 17, 2020
Healthcare Sector to Uphold Demand for Functional Workwear Apparel, Despite Supply Chain Disruptions, Opines Fact.MR
by Team Fact.MR
As the Covid-19 pandemic continues to hammer global supply chains, the functional workwear apparel market is witnessing a bearish trend. International customers are postponing orders due to lockdowns across countries, and seeking strong discounts. Retailers responded to the Covid-19 pandemic with their doors shuttered. A variety of major retailers and brands have announced their temporary closures in the U.S. withi the last few days. However, several nations have regarded the smooth running of clothing and uniform facilities as an integral component which is anticipated to bode well for the global demand for functional workwear apparel. Several hospitals today require the continuous upgradation of functional workwear apparel in the ongoing fight against the global pandemic due to which the global functional workwear apparel market is anticipated to grow at a CAGR of over 3.5% during the forecast period (2020-2030)
Functional Workwear apparel with Protective Features to Boost Market Growth
The global functional workwear apparel market is burgeoning with rapid adoption of functional workwear apparel in the manufacturing, industrial and service sector and is anticipated to reach a valuation of over US$ 49 Bn during the forecast period. Businesses are identifying the adoption of functional workwear apparel according to the requirements of the occupation. Moreover, demand for functional workwear apparel fitted with protective features offering heat, sun, snow and wind resistance is continuing to increase in the manufacturing sector.
A trend-setting combination of practical workwear and smart business casuals among the working population would improve the health and security of the global workforce against any hazards. This is anticipated to spur the overall revenue generation in global functional workwear apparel industry in the near future
Key Takeaways of Functional Workwear Apparel Market Study
- Asia Pacific Excluding Japan (APEJ) is projected to emerge as the world's largest functional workwear apparel market, acquiring a share of over 25% during the forecast period. The industrial and construction developments occurring in the region is demanding the utilization of functional workwear apparel
- The contribution of boots & socks to the total sales revenue is higher than the other categories in the global functional workwear apparel market. Revenue from the boots & socks segment is projected to expand at a CAGR of over 4.5% between 2020 and 2030
- Synthetic fiber is projected to account for highest market share relative to natural fiber. Synthetic fiber is expected to showcase an absolute opportunity of over US$ 7.5 million by 2030
- The service sector is expected to emerge as one of the functional workwear apparel’s biggest purchasers. The service sector within the global functional workwear market is expected to surpass over US$ 24 billion in sales by the end in 2030
Find More Valuable Insights on the Market
Fact.MR, in its new offering, provides an unbiased analysis of the global market for functional workwear apparel, with historical data on demand (2015-2019) and expected projections for the period (2020-2030). The report discloses compelling insights into the demand for functional workwear apparel based of product type ( trousers, jackets, shorts & skirts, bib & braces, t-shirts, shirts, belts & straps, sweatshirts, coverall ,coats, caps and hats, boots & socks), material type (synthetic materials, blended materials, natural materials), demographics (men, women), end-use (retail sales, mining & agriculture, healthcare, services, homeland security & defense), sales channel (direct sales / tender, subcontractors, retail channels, online channels) across several major regions.
>>> To Get more insights on functional workwear apparel market, visit- https://www.factmr.com/report/338/functional-workwear-apparel-market
About the Retail and Consumer Goods Division at Fact.MR
Being a consortium of large number of sub-industries, not many market research companies are being able to fulfil the requirements of consumer product clients. Though, Fact.MR retail and consumer goods analysts at Fact.MR have been categorically tracking the broader sub-industries to keep themselves abreast of the recent happenings in the market. Our practical approach to product design and pricing strategy contributes to the growth of businesses that are struggling to hit the ‘move-the-needle’ bottom line. With unmatched analytical diligence, the team at Fact.MR helps organizations design product differentiation strategies and introduce exclusive product(s) to their existing portfolio. For more domain insights, visit here.