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:
https://www.grandviewresearch.com/industry-analysis/workwear-market/request/rs4
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:
https://www.grandviewresearch.com/press-release/global-workwear-market
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.
Loading comments...