The global functional workwear apparel market is expected to grow slowly, according to Fact.MR’s report. During the forecast period of 2020-2030, the market is expected to grow at a CAGR of 2.6 percent.
By the end of 2030, the market is expected to generate $749.3 million in revenue. Companies are moving towards providing workwear apparel that offers safety, comfortability, and functionality as a result of the rise in the industrial and service sectors. As part of corporate workwear, manufacturers are also emphasising stylish business formals and casuals. The following data illustrates how the global functional workwear apparel market will perform over the next few years.
Functional Workwear Apparel Market: Segmentation
- Shorts & Skirts
- Bib & Braces
- Belts & Straps
- Caps and Hats
- Boots and Socks
- Synthetic Materials
- Blended Materials
- Natural Materials
- Mining & Agriculture
- Homeland Security & Defense
- Direct Sales / Tender
- Retail Channels
- Online Channels
Market Structure is Moderately Fragmented, with Players Concentrating on Key Segments.
The global Functional Workwear Apparel market is moderately fragmented, with a few well-known competitors such as VF Corporation, Williamson-Dickie Mfg. Co, Blundstone Australia Pty Ltd, and several emerging regional players specialising in local workwear. Several new players have divided Functional Workwear Apparel into neat, non-uniform, and even categories.
Major corporations are attempting to concentrate on a specific workwear segment. VF Corporation announced a review of strategic options for Functional Workwear Apparel in January 2020.
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