Demand for Workwear and Impact of COVID-19……..
The global workwear
market size is expected to reach USD 42.1 billion by 2025, according to
a new report by Grand View Research, Inc., expanding at a CAGR of 5.8% over the
forecast period. Growing importance of workwear for establishing a good image
of the organization in the minds of its clients and associates among the
manufacturing firms at a global level is expected to have a positive impact on
the market growth. Furthermore, supportive investment friendly policies aimed
at upscaling the output in the manufacturing sector of emerging economies
including China and India by the national governments is expected to remain a
favorable factor over the next few years.
The clothing, footwear, & accessories
industry is anticipated to witness checkered growth throughout 2020, as a
result of the unprecedented supply chain disruptions caused by the COVID-19
outbreak worldwide. The expected decline in the global sales of clothing,
footwear, & accessories is attributable to massive supply chain disruptions
across significant export markets, including China and India. However, the
industry is likely to recover over the forecast timeframe, given the rising
popularity of online/e-commerce sales. From a manufacturing standpoint, the
sustainable or ethical fashion trend is expected to favor market growth
throughout the forecast timeframe. Luxury apparel is another lucrative space
for prospective manufacturers to target, given the mushrooming number of
affluent and fashion-conscious consumers across the globe. Our team is
diligently working towards accounting these factors in our report with the aim
of providing you with the up-to-date, actionable market information and projections.
The apparel segment is expected to
dominate the market over the next few years. Growing popularity of advanced
apparel products fortified with fabric technology, which provides adaptable and
lightweight characteristics is expected to have a strong impact. Furthermore,
new product launches in terms of development of new apparels, which are
equipped with sensors that help in maintaining body temperature, are expected
to open new avenues.
The women segment is expected to be
the fastest growing category from the period of 2019 to 2025. Over the past few
years, the industry participants has launched new products due to increasing
participation of women in heavy and hazardous work. For instance, in June 2018,
Vajor launched a new workwear for working class women under the brand, ‘Cape
& Cloth’. Workwear comprises a wide range of products including clean cut
jumpsuits, trousers, pocket dresses, versatile shirts, effortless tops, and
relaxed blazers.
To Request Sample Copy of this report, click the link:
Key industry participants include Carhartt
Inc.; Alamark, Alsico NV; Alexandra; A. LAFONT SAS; ADITYA BIRLA GROUP; 3M;
ANSELL Ltd.; Honeywell International Inc.; and Kimberly-Clark Worldwide, Inc. Companies are adopting strategies such as
mergers and acquisitions to increase their market reach. For instance, in
January 2018, AHLSELL acquires OUTLET within workwear and personal protection
in Västerås.
Asia Pacific is expected to be the
fastest growing market, expanding at a CAGR of 6.9% from 2019 to 2025.
Urbanization and infrastructure development in emerging economies including
China, India, Thailand, and Philippines is expected to promote the
establishment of new commercial set-ups and thus, in turn, will promote the use
of workwear. Furthermore, increasing number of smartphone users in the
above-mentioned countries is expected to drive workwear manufacturing firms to
deploy online channels as a selling medium in order to expand their market
reach over the next few years.
Further key findings from the report suggest:
·
Apparel products accounted for
the largest share of more than 75.0% in 2018
·
Men category dominated the
workwear market with a share of over 55.0% in 2018
·
North America dominated the
industry in 2018, accounting for more than 45.0% share of the global revenue.
The
global workwear market size was valued at USD 28.3 billion in 2018. Rising
importance of workwear as a way of showing professionalism in the manufacturing
and corporate sectors is expected to remain a key driving force in the market.
Furthermore,
increasing occurrences of workplace accidents and fatalities at a global level
is expected to promote the industry growth. For instance, as per the report of
ILO, every year, around 2.3 million people around the world die due to
work-related accidents or diseases. Over the past few years, companies are
offering advanced fabric technology with lightweight and adaptable fabrics and
apparel that can be used for different work environments.
For
instance, Scruffs is offering softshell jackets made with 100% polyester. This
product is waterproof, fully wind resistant, and easily movable, which is
attracting consumers to purchase this product. Similarly, U.K. based company,
Mascot International Ltd. offers safety shoes and boots that are lightweight
and made with a shock absorbing sole.
It
has been observed that leading companies are introducing the internet of things
(loT) features and asset tracking system. A microcontroller chip is fitted
inside the internet of things wearable equipment that collects real time data
about the posture, toxic gas exposure, motion, breathing, heart rate of
workers, and it is visible at the desktop of in-charge person.
This
technology enables the organizations to ensure worker safety by permitting the
maximum supervision of worker’s health condition. An Italy based organization,
namely Eniday manufactures workwear with IOT features. Other key IOT workwear
manufacturers include People People and Lindström Group.
Browse Press Release
of this report:
Grand View Research has segmented the
global workwear market on the basis of product, demography, application:
Workwear Product Outlook (Revenue, USD Billion, 2015 -
2025)
·
Apparel
·
Footwear
Workwear Demography Outlook (Revenue, USD Billion, 2015 -
2025)
·
Men
·
Women
Workwear Application Outlook (Revenue, USD Billion, 2015
- 2025)
·
Chemical
·
Power
·
Food & Beverage
·
Biological
·
Others
About Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
Comments
Post a Comment