Fabric Innovations and Strong Demand in Emerging Markets Drive the Global Workwear Market, According to New Report by Global Industry Analysts, Inc.
San Jose, California (PRWEB) March 31, 2014 -- Follow us on LinkedIn – Workwear, referred to as outfits mandated by the work environment comprises various categories including basic workwear, technical wear, corporate wear and protective wear. Gradually reviving construction industry, steady growth in the foodservice industry and the expanding healthcare sector along with the subsequent rise in employment in these sectors are all factors expected to promote growth in the global workwear market. Rising emphasis on worker health/safety issues, stricter government mandates, technology innovations, and increasing pressure to reduce costs associated with workplace related injuries led disability and death, will drive future growth in the market. Encouraging gains in global manufacturing is also signalling an optimistic outlook for workwear given its use in diverse manufacturing industries.
Besides the increasing desire among men and women to wear stylish and functional attire to work, growth in demand is also expected to be driven by urban expansion, rural urbanization, growing disposable incomes as a result of rapid economic growth in emerging markets. Demand for workwear, particularly imagewear has received impetus driven by the perceived benefits of imaging and branding. Favourable demographics represent another important growth driver with the working age group of 15-64 years presently accounting for 66% of the global population. The emerging and underpenetrated markets in Asia-Pacific, Latin America, and the Middle East represent important growth markets. China and India represent two countries with the largest base of young population in the world offering significant opportunities for growth.
With comfort, safety and functionality playing a major role in the selection of workwear, fabric innovation represents an important focus area among manufacturers. Recent fabric innovations poised to benefit the market include Tencel®, a fabric made of eucalyptus pulp, and synergo™, a soft-shell stretch fabric. Also, the rising preference for green & environment-friendly apparel is expected to bode well in the long-run. Supported by technological advances in manufacturing and product designing, performance apparel with features such as moisture-wicking, anti-bacterial and anti-infection properties, is expected to witness steady growth over the next few years.
As stated by the new market research report on Workwear, Europe and the United States represent leading markets worldwide. Driven by stringent regulations, booming oil & gas industry and an expanding hospitality sector, demand for workwear is expected to steadily increase in these markets. Asia-Pacific represents the fastest growing market worldwide with a CAGR of 8.6% over the analysis period. Rapid industrialization, increasing workforce, changing attitude with regard to employee safety and protection, strict regulations, popularity of western attire, and increasing demand for fashionable and elegant clothing represent key growth drivers in the region.
Key players covered in the report include Adolphe Lafont SA, ALSICO NV, ARAMARK Corporation, Bragard SA, Carhartt, Inc., Cintas Corporation, DKNY, Dockers, Fristads Kansas, G&K Services Inc., Kwintet AB, Hejco, HaVeP, Johnson's Apparelmaster Ltd., Klopman International, Madura Fashion & Lifestyle, Pantaloons Fashion & Retail Limited, Provogue India Ltd., Raymond Group, Simon Jersey, S. Kumars Nationwide Ltd., UniFirst Corporation, VF Corporation, and Williamson-Dickie Mfg. Co.
The research report titled “Workwear: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of current market trends, key growth drivers, mergers, acquisitions, and other strategic industry activities of major companies. The report provides market estimates and projections in dollars for all major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), Middle East and Latin America. Product segments analyzed include Corporate Wear, General Wear, and Uniforms.
For more details about this comprehensive market research report, please visit – http://www.strategyr.com/Workwear_Market_Report.asp.
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
Global Industry Analysts, Inc.
Telephone: 408-528-9966
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Raghu Gopal, Global Industry Analysts Inc, +1 408-528-9966, [email protected]
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