Is there need of functional requirement for creating wireframe? or low level requirement is enough for wireframe design.
This is more of DEPENDS type of question which depends on how and to whom you are explaining your product.
But on the same phase if you are asking in general, then of course, yes it is mandatory to do Requirement Gathering(Business, User, System requirements) to have a better user experience.
I recommend you to read Jesse James Garrett's The Elements of User Experience. He has explained the five stages of UX in a very good manner.