Sleepwear Market: Current Analysis and Forecast (2021-2027)
Emphasis on Product Type (Top wear, Bottom wear, Nightdress & Gowns, Sleepwear set); Material (Cotton, Wool, Silk, Others); Size (Small, Medium, Large); Price (Low, Medium, High); End-User (Men, Women, Kids); Distribution Channel (Online, Hypermarket/ Supermarket, Discount stores, Others); Region/Country
The global Sleepwear Market is expected to display an elevated CAGR of ~9% over the forecast period (2021-2027).
A surge in the end user’s disposable income is one of the leading factors that is contributing to the growing market of Sleepwear., globally. Rising purchasing power in developing countries such as Australia, EU, Mexico, Brazil, India, Thailand, and China are projected to allow consumers to spend more on ready-made food and partying outside, which is also acting as a growth catalyst to the industry. As per OCED, the household spending in Canada, China, Denmark, European Union, France, and Germany reached to 1,021,459.5, 9,241,095.5, 139,229.8, 10,785,281.3, 1,561,879.9 and 2,288,541.1 US$ million, respectively. Also, the rising purchasing power is leading to the growing investment in fashionable apparel including sleepwear, etc., which is contributing to the growing market for Sleepwear.
Also, E-commerce has supported various industries by playing a significant role in pushing the sales of several products across regions. According to UNCTAD, the e-commerce sector saw a “dramatic” rise in its share of all retail sales, from 16% to 19% in 2020. Users, with ease and convenience, are more inclined the purchase the products or apparel such as sleep wears from home, and avail of numerous offers that come along with the product. Sleepwear, being no exception, is being purchased on a large scale via online retailing. With increasing faithfulness to online retailing, the sale of sleepwear is expected to increase in the coming years. Moreover, the sale of sleepwear through online retailing is projected to expand at a stellar rate during the forecast period owing to a large customer base opting for online retailing options for purchasing apparel.
Household disposable income Net, Annual growth rate (%), By Selected Countries, 2017 – 2019
L BRANDS INC., A Berkshire Hathaway Inc., American Eagle Outfitters, Inc., DECATHLON S.A., Hanesbrands Inc., Jockey International Inc., Triumph International Holding GmBH, Hanky Panky Ltd., PVH Corporation, MAS Holdings Ltd, are some of the prominent players operating in the Sleepwear market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products.
Insights Presented in the Report
“Amongst Product Type, Hotels segment holds the major share”
Based on the Product type, the market is fragmented into top wear, bottom wear, Nightdress & gowns, and sleepwear sets. The sleepwear set segment grabbed considerable market share and captured XX% market share in the Sleepwear Market in 2020. Moreover, the market would witness a sharp rise in the forthcoming years owing to the rising demand from the young millenniums and students, etc., However, the night dress & gowns segment would witness sky-rocked growth in the forecast period of 2021-2027F
“Amongst Material, Sleepwear Chain segment to dominate the market during the forecast period”
Based on the Material, the market is fragmented into cotton, wool, silk, and Others. The cotton segment captured XX% market share in the Sleepwear Market in 2020. Moreover, the market would witness a sharp rise in the forthcoming years owing to a surging preference for cotton-made sleepwear due to properties such as Absorbent, Breathable, Hypoallergenic, Non-toxic, and High wet modulus (stronger when wet). However, other segments would witness sky-rocked growth in the forecast period of 2021-2027F
“Amongst Size, Medium segment to dominate the market during the forecast period”
Based on the Size, the market is fragmented into small, medium, and large. The medium segment captured XX% market share in the Sleepwear Market in 2020. Moreover, the market would witness a sharp rise in the forthcoming years owing to the growing demand from the young millenniums.
“Amongst Price, Medium segment to dominate the market during the forecast period”
Based on the Price, the market is fragmented into Low, Medium, and High. The medium segment grabbed the major market share and dominated the market. The segment captured XX% market share in 2020. However, The High price segment would witness a considerable CAGR during the forthcoming years
“Amongst End-User, Women segment to dominate the market during the forecast period”
Based on the End-User, the market is fragmented into men, women, and kids. The women segment captured XX% market share in the Sleepwear Market in 2020 and dominated the market. Moreover, the market would witness a sharp rise in the forthcoming years owing to surging preference from the college-going girls coupled with the emerging demand due to the offering of attractively designed sleepwear. However, the men’s segment would witness sky-rocked growth in the forecast period of 2021-2027F
“Amongst Distribution Channel, hypermarket/ supermarket segment to dominate the market during the forecast period”
Based on the Distribution Channel the market is fragmented into online, hypermarket/ supermarket, Discount stores, and Others. The hypermarket/ supermarket segment captured XX% market share in the Sleepwear Market in 2020 and dominated the market. Moreover, the market would witness a sharp rise in the forthcoming years owing to the surging number of hypermarkets/ supermarkets. Also, the availability of several brands under one roof is leading to the growth of this segment. However, the online segment would witness sky-rocked growth in the forecast period of 2021-2027F
“North America represents one of the largest markets of Sleepwear market”
For a better understanding of the market dynamics of the Sleepwear market, a detailed analysis was conducted for different regions across the globe including North America, Europe, Asia Pacific, and the Rest of the world. North America dominated the market and generated the leading revenue share in 2020 owing to the rise in disposable income coupled with the availability of sleepwear at reasonable prices and rising demand from men are some of the factors that are contributing to the growth of the market. As per OCED, the household disposable income in Canada increased from 2.1% in 2019 to 7.3% in 2020.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts
- The report presents a quick review of overall industry performance at one glance
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
- The study comprehensively covers the market across different segments
- Deep dive regional level analysis of the industry
Customization Options:
The Sleepwear Market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
Table of Contents
Analyzing the historical market, estimation of the current market, and forecasting the future market of the Sleepwear Market were the three major steps undertaken to create and analyze the demand for Sleepwear across major regions. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the Sleepwear market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/ bottom-up approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detailed secondary study was conducted to obtain the historical market size of the Sleepwear through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the Sleepwear market, we conducted a detailed secondary analysis to gather historical market insights and share for product type, material, size, distribution channel, end-user, the price for major regions. Major segments included in the report are product type and material. Further region and country-level analyses were conducted to evaluate the overall adoption of Sleepwear across the globe.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of Sleepwear. Further, we conducted factor analysis using dependent and independent variables such as growth in the disposable income, rising investment in apparel and accessories, etc., A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, merger and acquisition, business expansion, and product launches in the Sleepwear industry across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the Sleepwear market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weightage was assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e. bottom-up/ top-down approach was applied to arrive at the market forecast about 2027 for different segments and subsegments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of value (US$) and the adoption rate of Sleepwear across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the Sleepwear market in terms of services offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the Sleepwear market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of product type, material, size, distribution channel, end-user, and price of the Sleepwear market.
Main Objective of the Sleepwear Market Study
The current & future market trends of Sleepwear were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of Sleepwear in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of product type, material, size, distribution channel, end-user, and price
- Define and analysis of the regulatory framework for the Sleepwear industry
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
- Analyze the current and forecast market size of the Sleepwear market for the major countries
- The major region studied in the report includes North America, Europe, Asia- Pacific, and the Rest of the World.
- Company profiles of the Sleepwear market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry
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November 7, 2024
