APAC is the largest market for sleepwear and loungewear. Factors such as the increased introduction of global brands and the adoption of premium sleepwear and loungewear are creating significant growth opportunities for sleepwear and loungewear manufacturers in APAC. In addition, rising disposable income and changing customer preferences will further drive the demand for sleepwear and loungewear in APAC.
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Vendor Insights
The global sleepwear and loungewear market is fragmented in nature due to the presence of several global and regional players.
The vendors are deploying growth strategies such as offering customized apparel and selling products in bulk through e-auctioning to compete in the market. Some vendors are also adopting inorganic growth strategies such as M&As to remain competitive in the market.
PVH Corp. - In June 2019, PVH Corp and G-III Apparel Group Ltd. announced today that Calvin Klein, its subsidiary, and G-III have entered into a license agreement for an initial term of five years for the design, production, and distribution of Calvin Klein Jeans women's jeanswear collections in the US and Canada.
The report further analyzes the market's competitive landscape and offers information on several market vendors, including:
- American Eagle Outfitters Inc.
- Authentic Brands Group LLC
- Groupe Chantelle
- H & M Hennes & Mauritz AB
- Hanesbrands Inc.
- L Brands Inc.
- MASH Holdings Co. Ltd.
- PVH Corp.
- Ralph Lauren Corp.
- Wacoal Holdings Corp.
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Geographical Market Analysis
APAC will provide maximum growth opportunities in the household composters market during the forecast period. According to our research report, the region will contribute 44% of the global market growth and is expected to dominate the market through 2025 with China and India emerging as the key revenue generating economies in the region.
In addition, countries such as the US, China, India, Brazil, Canada, and France are expected to emerge as prominent markets for sleepwear and loungewear market during the forecast period.
Key Segment Analysis
The sleepwear product segment led the largest market share in 2020 and will continue to lead the market share during the forecast period. The growth of this segment is attributed to enhanced comfort and growing trend of athleisure. In terms of distribution channel, the offline segment led the sales in 2020 due to the increasing sales of sleepwear and loungewear products from specialty stores, including brand-owned stores, multi-brand stores, fashion stores, and apparel stores; hypermarkets, supermarkets, convenience stores, and clubhouse stores; and department stores.
Know more about this market's geographical distribution along with the detailed analysis of the other contributing segments. https://www.technavio.com/report/sleepwear-and-loungewear-market-industry-analysis
Key Market Drivers, Trends & Challenges:
One of the key factors driving growth in the sleepwear and loungewear market is the increased demand for designer and premium sleepwear and loungewear. The evolving customers' preferences, coupled with their increasing purchasing power and enhancing fashion consciousness, are increasing the demand for designer and premium sleepwear and loungewear. Products with advanced features and innovative designs are priced higher than regular sleepwear and loungewear, which raises product premiumization along with product line extension.
The adoption of sustainable manufacturing by vendors, one of the vital sleepwear and loungewear market trends, will ensure the manufacture of products using eco-friendly methods. To reduce environmental waste and deforestation, vendors are taking various initiatives and are joining several sustainable fashion industry associations to adopt sustainable manufacturing processes.
The presence of counterfeit products is a major challenge for the sleepwear and loungewear market growth. The growing market prospects of sleepwear and loungewear and their surging demand drive the market penetration of counterfeit sleepwear and loungewear, especially in developing regions. The low price of counterfeit products increases their demand. Hence, the availability of counterfeit products adversely affects the sales and pricing strategies of vendors by diluting their market shares and hampering their reputation.
View free sample for highlights on market Drivers, Trends & Challenges affecting the sleepwear and loungewear market.
Sleepwear and Loungewear Market Value Chain Analysis
The value chain of apparel, accessories, and luxury goods includes raw material and input suppliers, manufacturing companies, traders, distributors/wholesalers/dealers, retailers, and consumers. The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
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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 almost 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 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. |
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