Sleepwear and Loungewear Market Size to increase by USD 13.36 Bn| Research Insights highlight Increased Demand for Designer and Premium Sleepwear and Loungewear as Key Driver

NEW YORK, Nov. 15, 2021 /PRNewswire/ -- According to the research report "Sleepwear and Loungewear Market - Forecast and Analysis Report 2021-2025", the market is expected to have a YOY growth rate of 5.28% in 2021 and is expected to grow at a CAGR of 6% between 2020 and 2025. The report segments the market by product (sleepwear and loungewear), distribution channel (offline and online), and geography (APAC, Europe, North America, South America, and MEA).

Attractive Opportunities in Sleepwear and Loungewear Market by Product, Distribution Channel, and Geography - Forecast and Analysis 2021-2025

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.

Find additional highlights on the growth strategies adopted by vendors and their product offerings. Read FREE Sample Report.

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.

About Us:

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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