Global Sleepwear Market Expected to Gather $22,020.5 Million by 2028 and Grow at 9.9% CAGR in the 2021 to 2028 Timeframe [175-pages] | Confirmed by Research Dive
The global sleepwear market is expected to grow by 2028 due to the rise in demand for sleepwear from working population. Women sub-segment is predicted to be most dominant. Market in the Asia-Pacific region is expected to have fastest growth rate.
NEW YORK, July 25, 2022 /PRNewswire/ -- Research Dive has added a new report to its offering titled, 'Sleepwear Market by End-user (Women, Men, and Kids), Distribution Channel (Supermarkets/Hypermarkets, Specialty Stores, Convenient Store, and Online), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2021–2028.'
According to the report, the global sleepwear market is estimated to accumulate a revenue of $22,020.5 million by 2028, growing at a CAGR of 9.9% during the 2021-2028 timeframe.
Dynamics of the Sleepwear Market
Drivers: Growing demand for sleepwear, especially among the working population, is expected to drive the sleepwear market. Also, business strategies like acquisitions, mergers, and collaborations between leading market players is further predicted to boost the market.
Opportunities: Rising popularity of bridal nightwear is anticipated to offer massive growth opportunities to the market. Also, the increasing demand of sleepwear among the working women population is expected to further enhance the growth opportunities.
Restraints: The presence of fake and counterfeit products may however create a roadblock in this growth journey of the sleepwear market.
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Covid-19 Impact on the Sleepwear Market
The Covid-19 pandemic has altered the global economic order in an unprecedented way. Majority of the industries and businesses are reeling from huge losses, while on the other hand, some businesses have miraculously witnessed a growth in their markets. The sleepwear market is one such example which has witnessed a moderate growth in this period, despite the interruption in the working of global supply chains. This growth in the market is mainly attributed to the increase in demand for sleepwear from the general public due to the rise in work-from-home culture.
Segments of the Sleepwear Market
The report has divided the sleepwear market into a few segments based on end-user, distribution channel, and regional analysis.
- By end-user, the women sub-segment is predicted to be the most dominant sub-segment by garnering a revenue of $12,595.7 million by 2028. The increasing demand for nightwear from women of all age groups is the leading growth driver of this sub-segment.
- By distribution channel, the supermarkets/hypermarkets sub-segment is expected to have the highest market share and register a revenue of $9,028.4 million by 2028. The different types of sleepwear available in supermarkets provide the customers with wide range of choice, that too under one roof. Hence, the supermarket/hypermarket sub-segment of the sleepwear market is surging at such a great rate.
- By regional analysis, the sleepwear market in the Asia-Pacific region is anticipated to have the fastest growth rate of 11.0% CAGR. The high growth rate of the regional market is primarily credited to the increasing population of working women in this part of the world.
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Significant Sleepwear Market Players
Some significant sleepwear market players are
- Jockey International, Inc.
- L Brands Inc.
- The Chantelle Group
- Berkshire Hathaway Inc.
- PVH CORPORATION
- Triumph International Holdings GmbH
- MAS Holdings Ltd.
- Hanesbrands Inc.
- Hanky Panky Ltd.
- American Eagle Outfitters, Inc. (AERIE), among others.
These players are formulating several business policies like product development and enhancement, merger and acquisition, partnerships and collaborations to gain a leading position in the market. – Buy the full report start at $2999 (Read-only)
For example, in June 2021, Victoria's Secret, a US-based lingerie company, announced the launch of a new nightwear collections for maternity and nursing. The announcement was specifically done on Mother's Day keeping in mind the customers they were intending to target. This new collection will help Victoria's Secret garner a dedicated customer base which will eventually help in expanding their business.
The report also sums up various crucial facets including financial performance of the key market players, SWOT analysis, product portfolio, and the latest strategic developments.
More about Sleepwear Market:
- Strategic Acquisitions Like That of Quiet Logistics by American Eagle Outfitters Inc. to Drive the Global Sleepwear Market
- What is the Need for a Comfortable Sleepwear? Why is it Important for Our Body?
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About Research Dive
Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With an unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.
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