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The sleepwear and loungewear market size is forecast to increase by USD 38.63 billion at a CAGR of 11.84% between 2023 and 2028. The growth of the market is driven by several factors, including the heightened demand for designer and premium options. Developing countries are seeing a rising interest in sleepwear and loungewear as lifestyles evolve and disposable incomes increase. Additionally, the expanding number of working women significantly contributes to market growth, as they seek stylish and comfortable attire for both home and leisure. This shift in consumer preferences towards higher-quality and more fashionable loungewear is fueling the market's expansion, with increased demand evident across various regions and demographics. It also includes an in-depth analysis of market trends and analysis, market growth analysis and challenges. Furthermore, the report includes historic market data from 2018 - 2022.
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The market experiences severe rivalry among creative designers, catering to various consumer demographics in the global sleepwear industry. This market encompasses a wide range of products, including tank tops, made from diverse fabrics such as cotton, polyester, silk, and flannel. These garments are not only used in dormitories and during sleepover parties but also at spa retreats, where the emphasis is on durability, comfort, and sleep quality. Consumer patterns indicate a preference for cotton fabrics due to their breathability and skin-friendly nature. However, pricing parameters also play a significant role in consumer decisions. Opinion leaders, including fashion influencers and industry experts, often promote limited-edition collections, adding to the market's appeal. The ultimate goal is to provide quality sleepwear that not only improves mood but also ensures a good night's rest, free from skin irritation. Our researchers analyzed the market research and growth data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The introduction of products with advanced features and innovative designs is notably driving market growth. The global market experiences severe market rivalry, with vendors continually innovating creative designs to cater to evolving consumer demographics. Fashion trends, health and wellness, and comfort are key factors driving demand in this sector. Consumers seek efficient, high-quality products made from durable materials such as cotton, polyester, silk, and flannel.
Moreover, sleepwear and loungewear, including pajamas, nightgowns, robes, shorts, and tank tops, are used in various applications, from dormitories and sleepovers to spa retreats. Consumer preferences for sleepwear and loungewear are influenced by factors such as skin irritation, mood improvement, and sleep quality. Limited-edition collections and pricing parameters also play a role in consumer patterns. Opinion leaders and market estimation reports suggest that the growth rate of the market will continue at a robust pace, with future applications including activewear and athleisure. This is expected to augment the growth of the market during the forecast period.
An increase in demand for plus-size sleepwear and loungewear is the primary trend driving the market growth. The global market encompasses a vast array of creative designs catering to diverse consumer demographics. This sector experiences severe market rivalry, driven by consumer preferences for comfort, durability, and quality sleep. Key product categories include pajamas, nightgowns, robes, shorts, tank tops, and loungewear, available in various materials such as cotton, polyester, silk, and flannel.
Moreover, fashion trends and health and wellness considerations influence consumer choices, with e-commerce platforms offering convenient access to these products. Pricing parameters and application segments, including dormitories, sleepover parties, spa retreats, and everyday use, impact market estimation and growth rate. Gender-specific designs and limited-edition collections cater to diverse consumer patterns, while opinion leaders and industry associations promote sustainable manufacturing processes to minimize environmental waste and deforestation. This is expected to augment the growth of the market during the forecast period.
The presence of counterfeit products may impede the market growth. The global market is experiencing significant growth, driven by evolving consumer demographics and increasing fashion trends. Creative designs in loungewear have gained popularity, with pajamas, nightgowns, robes, shorts, and tank tops being preferred choices for both genders. Materials such as cotton, polyester, silk, and flannel are commonly used, prioritizing durability, comfort, and sleep quality.
Moreover, severe market rivalry exists, with e-commerce platforms expanding their reach and making it challenging for consumers to differentiate between genuine and counterfeit products. Despite the risks of skin irritation and reduced durability, the affordability of counterfeit sleepwear and loungewear attracts consumers in developing regions. This is expected to hinder the growth of the market during the forecast period.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and forecasting strategies.
Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Wacoal Holdings Corp. - The company's key offerings include sleepwear and loungewear, such as side shaped long gowns and short lacy baby doll chemise.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market share growth by the offline segment will be significant during the forecast period. The Loungewear and Sleepwear Market encompasses a wide range of creative designs catering to various consumer demographics and preferences. This market experiences severe rivalry among key players, driven by factors such as fashion trends, health and wellness, and consumer disposable income levels. Global sleepwear sales are significant, with key product categories including pajamas, nightgowns, robes, shorts, and tank tops. Materials like cotton, polyester, silk, and flannel are commonly used, prioritized for their durability, comfort, and contribution to sleep quality.
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The offline segment showed a gradual increase in market share, from USD 29.41 billion in 2018 and continued to grow by 2022. Several applications segment the market, including dormitories, sleepover parties, spa retreats, and everyday use. Consumer patterns and product preferences continue to evolve, with limited-edition collections and high-quality sleepwear gaining popularity. Opinion leaders and influencers play a crucial role in shaping market estimation and growth rate, as they set trends and influence purchasing decisions. Fashion trends and health consciousness have led to an increased focus on e-commerce platforms for purchasing sleepwear and loungewear. Hence, such factors are fuelling the growth of this segment which in turn drives the market growth during the forecast period.
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APAC is estimated to contribute 30% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The market in APAC is expected to grow at the fastest rate when compared with other regions. The market growth in this region can be majorly attributed to the increased introduction of global brands and the adoption of premium sleepwear and loungewear in APAC. In addition, rising disposable income and changing customer preferences will further drive the demand for sleepwear and loungewear in APAC. China, India, and Japan are the key contributing countries to the market in APAC. China is the most prominent market for manufacturers of sleepwear and loungewear, owing to the increased spending by Chinese consumers on apparel, such as sleepwear and loungewear, especially in the premium category. Hence, such factors are driving the market in APAC during the forecast period.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The Markets sector encompasses the production and distribution of Sleepwear and Loungewear. This market is significant due to the increasing consumer preference for comfort and convenience. The sector offers a wide range of products such as pajamas, robes, and sleepwear. Consumers are increasingly seeking high-quality, comfortable, and stylish sleepwear and loungewear. The market is driven by factors such as changing demographics, increasing disposable income, and the growing trend towards health and wellness. The sector also caters to various consumer segments, including men, women, and children. The use of innovative materials and technologies is also a key trend in this market. The market landscape depends on Fashionable and cosy loungewear, Uncertainty in the economy, Seasonality with Fashion Trends, Material, Gender, Seasonal and festival sales, Cotton and silk fabrics, Application segment, Driving and restraining factors. The sector is expected to grow steadily in the coming years, driven by these factors and increasing consumer awareness. The global market is segmented by product type, distribution channel, and region. The major players in this market focus on product innovation, expansion of their product portfolio, and strategic collaborations to gain a competitive edge.
Market Scope |
|
Report Coverage |
Details |
Page number |
164 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 11.84% |
Market growth 2024-2028 |
USD 38.63 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
10.27 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 30% |
Key countries |
US, China, Germany, India, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
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. |
Market dynamics |
Parent market analysis, Market forecast, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis 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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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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