The functional apparel market has been seeing significant growth throughout the year. According to a report by Data Bridge Market Research, the functional apparel market will reach an estimated valuation of USD 8.00 billion by 2027, while registering this growth at a rate of 15% for the forecast period of 2020 to 2027.
The research study also showed the COVID-19 impact on the functional apparel sector. The outbreak has largely impacted the global economic landscape. The report contains a complete breakdown of the current situation in the ever-evolving business sector and estimates the aftereffects of the outbreak on the overall economy.
As for the functional apparel prominent key players, brands like Adidas, PVH Corp, Nike, New Balance, Under Armour, Asics, Russell Brands, SKECHERS, Puma, Hugo Boss, Jockey India and Ralph Lauren Corporation will gain a significant share of the market.
The functional apparel market report gives associate about all the recent developments, product launches, joint ventures, mergers and acquisitions by several key players and brands while also giving a synopsis of market definition, classifications, and market trends. It lends a hand to companies to take decisive actions to deal with threats in a niche market.