Key Market Dynamics:
- Market Driver
- Market Trend
- Market Challenges
The demand for designer and premium sleepwear and loungewear is one of the key drivers fueling the growth of the market. Rising fashion consciousness coupled with evolving consumer preferences, and rising disposable incomes of consumers have increased the demand for designer and premium sleepwear and loungewear. To capitalize on this growing demand, vendors are investing in technologies and product innovations and using sustainable raw materials to improve the performance, appeal, and design of their products. These products are priced relatively higher than regular sleepwear and loungewear, which is resulting in product premiumization and expansion of product lines.
The adoption of sustainable manufacturing practices by vendors is expected to emerge as one of the major trends in the market. Rising concerns over environmental waste and deforestation caused by the fashion industry is driving many vendors to adopt sustainable practices and reduce their carbon footprint. Vendors in the market are manufacturing sleepwear and loungewear from durable high-grade fabrics extracted from wood. Such sustainable measures adopted by vendors is expected to have a positive impact on the growth of the market during the forecast period.
However, the presence of counterfeit products is expected to adversely affect the sales and pricing strategies of vendors, thereby challenging the growth of the market.
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The sleepwear and loungewear market report is segmented by Product (Sleepwear and Loungewear), Distribution Channel (Offline and Online), and Geography (APAC, Europe, North America, South America, and MEA).
By product, the market will witness maximum demand for sleepwear over loungewear during the forecast period. The segment is driven by the benefits associated with sleepwear and the increasing number of women purchasing sleepwear. Also, the growing demand for sleepwear among young consumers aged between 18 and 30 is driving the growth of the segment.
By distribution channel, the offline segment will account for the maximum sales of sleepwear and loungewear during the forecast period. The segment is driven by the expansion of physical stores by vendors in both regional and global markets. In addition, the proliferation of brand-owned stores, multi-brand stores, fashion stores, and apparel stores will fuel the growth of the segment during the forecast period.
In terms of geography, APAC will be dominating the market growth occupying 44% of the global market share during the forecast period. Factors such as increased penetration of global brands and increasing consumer demand for premium sleepwear and loungewear are driving the growth of the sleepwear and loungewear market in APAC. China and India are the key markets for sleepwear and loungewear in APAC.
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Some Companies Mentioned with their Offerings
- Authentic Brands Group LLC
- Groupe Chantelle
- H & M Hennes & Mauritz AB
- Hanesbrands Inc.
- L Brands Inc.
- To gain access to more vendor profiles with their key offerings available with Technavio, Click Here.
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Sleepwear And Loungewear Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6% |
Market growth 2021-2025 |
USD 13.36 billion |
Market structure |
Fragmented |
YoY growth (%) |
5.28 |
Regional analysis |
APAC, Europe, North America, South America, and MEA |
Performing market contribution |
APAC at 44% |
Key consumer countries |
US, China, India, Germany, and France |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
Authentic Brands Group LLC, Groupe Chantelle, H & M Hennes & Mauritz AB, Hanesbrands Inc., L Brands Inc., PVH Corp., Ralph Lauren Corp., MASH Holdings Co. Ltd., American Eagle Outfitters Inc., and Wacoal Holdings Corp. |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Key Topics Covered:
- Executive Summary
- Market Landscape
- Market Sizing
- Five Forces Analysis
- Market Segmentation
- Customer landscape
- Geographic Landscape
- Vendor Landscape
- Vendor Analysis
- Appendix
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SOURCE Technavio
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