GIA announces the release of a comprehensive global report on Workwear markets. Global Workwear market is projected to reach US$47.4 billion by 2020, driven by rapid consumption in emerging markets, encouraging gains in global PMI, and technological advances in fabrics and functionality.
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.
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