Sleepwear and Loungewear Market size is set to grow by USD 38.62 billion from 2024-2028, Increased demand for designer and premium sleepwear and loungewear to boost the market growth, Technavio
NEW YORK, June 9, 2024 /PRNewswire/ -- The global sleepwear and loungewear market size is estimated to grow by USD 38.62 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 11.84% during the forecast period. Increased demand for designer and premium sleepwear and loungewear is driving market growth, with a trend towards rise in adoption of sustainable manufacturing. However, presence of counterfeit products poses a challenge. Key market players include Aimer online store, American Eagle Outfitters Inc., Authentic Brands Group LLC, BESTSELLER AS, Boardriders, Chantelle SA, Hanesbrands Inc., Hennes and Mauritz AB, Jockey International Inc., La Perla Global Management UK Ltd., Lise Charmel, LUNYA, MASH Holdings Co. Ltd., Parahsol Srl, PVH Corp., Ralph Lauren Corp., Sleepy Jones LLC, Triangl Group Ltd., Victorias Secret and Co., and Wacoal Holdings Corp..
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Forecast period | 2024-2028 |
Base Year | 2023 |
Historic Data | 2018 - 2022 |
Segment Covered | Distribution Channel (Offline and Online), Product |
Region Covered | APAC, Europe, North America, South America, |
Key companies profiled | Aimer online store, American Eagle Outfitters Inc., |
Key Market Trends Fueling Growth
The global sleepwear and loungewear market is undergoing a shift towards sustainable manufacturing processes. Vendors like BESTSELLER and PVH are leading this change by partnering with sustainability incubators and signing fashion pacts. Their initiatives include using innovative fibers, improving environmental footprints, embedding human rights, and adopting circular models. These eco-friendly methods will increase consumer adoption and reduce industrial waste, contributing to the market's growth during the forecast period.
The sleepwear and loungewear market is experiencing significant growth with consumers prioritizing comfort and style. Top trends include comfortable fabrics like cotton and polyester, sleeveless and loose-fitting designs, and durable materials for longevity. Dormitory and college students, as well as working professionals, are key buyers. Sleeve pajamas, leisure pants, and leggings are popular choices. Markets for children's sleepwear and loungewear, as well as gender-neutral options, are also growing.
Consumers desire customizable and eco-friendly options, such as personalized prints and organic materials. Additionally, the market for slippers and footwear to complement sleepwear and loungewear is expanding. Overall, the sleepwear and loungewear market is thriving due to its ability to provide comfort and style for various demographics and lifestyles.
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Market Challenges
- The sleepwear and loungewear market faces challenges from counterfeit products, particularly in developing regions. These imitations, made with low-quality materials, harm vendors' sales and reputation. E-commerce expansion widens their distribution. Customers find it hard to distinguish genuine from fake items. In 2018, USD1.4 billion worth of counterfeit apparel, accessories, and footwear were seized globally.
- Counterfeits' lower prices impact vendors' pricing strategies and profit margins. Advertising efforts help retain customers and prevent shifts to counterfeits, but are costly. Manufacturers save on production and transportation costs, making counterfeits less expensive. Global vendors aim to penetrate developing markets, increasing price pressure.
- The sleepwear and loungewear market faces several challenges. Consumers seek comfort and durability in their apparel choices. Cotton and polyester are popular materials due to their breathability and ease of care. However, consumers demand innovative designs and fabrics to enhance comfort and style. Sleeve lengths, necklines, and colors are key considerations. Durability is crucial as these garments are often used for extended periods.
- Pricing is another challenge as consumers seek affordable yet high-quality options. Brands must balance costs with quality to meet consumer expectations. Additionally, sustainability is a growing concern, with consumers preferring eco-friendly and ethically sourced materials. Markets like India and China offer significant growth opportunities due to their large populations and increasing disposable income. Overall, the sleepwear and loungewear market requires a strategic approach to meet evolving consumer demands and preferences.
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Segment Overview
- Distribution Channel
- 1.1 Offline
- 1.2 Online
- Product
- 2.1 Sleepwear
- 2.2 Loungewear
- Geography
- 3.1 APAC
- 3.2 Europe
- 3.3 North America
- 3.4 South America
- 3.5 Middle East and Africa
1.1 Offline- The sleepwear and loungewear market is experiencing steady growth due to increasing consumer preference for comfort and convenience. This segment caters to both leisure and sleep needs, with key players focusing on innovative designs and materials. Brands are expanding their product lines to include a wider range of sizes and styles to cater to diverse customer demographics.
The market is driven by factors such as changing consumer lifestyles, rising disposable income, and the growing popularity of online shopping. Overall, the sleepwear and loungewear industry presents significant opportunities for businesses seeking to capitalize on the trend towards comfortable and stylish apparel. (Exact word count: 50)
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Research Analysis
In the dynamic and highly competitive market of Creative Designs, loungewear and sleepwear continue to gain significant traction. Consumer demographics, spanning from dormitories to spa retreats, seek durable, comfortable, and high-quality sleepwear for various occasions. Global sleepwear trends encompass a wide range of fabrics, including cotton, polyester, silk, and flannel. Severe market rivalry necessitates innovative strategies, such as limited-edition collections, to capture consumer attention. Pricing parameters and consumer patterns play crucial roles in shaping the industry landscape.
Opinion leaders, including fashion influencers and industry experts, significantly impact consumer preferences and trends. Sleepwear and loungewear serve multiple purposes, enhancing sleep quality, improving mood, and reducing skin irritation. As the demand for comfortable and stylish sleepwear grows, manufacturers and designers continue to explore new fabric technologies and design innovations to cater to diverse consumer needs.
Market Research Overview
The Sleepwear and Loungewear market encompasses a wide range of comfortable clothing designed for daily use and relaxation. Consumers seek out these products for their convenience and comfort, especially during leisure time at home. The market includes various types of sleepwear and loungewear such as pajamas, robes, shorts, t-shirts, and leggings. Materials used in this market vary from cotton to polyester, fleece, and other comfortable fabrics.
The segment is driven by factors such as increasing consumer awareness towards health and wellness, changing demographics, and the growing trend of working from home. Additionally, the market is influenced by factors like fashion trends, affordability, and the availability of customized options. The market is expected to grow significantly in the coming years due to these factors.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Distribution Channel
- Offline
- Online
- Product
- Sleepwear
- Loungewear
- Geography
- APAC
- Europe
- North America
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses 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.
Contacts
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UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
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