Global Sleepwear Market is Expected to Foresee Significant Growth During the Forecast Period. North America to Witness the Highest Growth
- Himanshu Patni
- November 24, 2021
- CONSUMER GOODS, NEWS
- Sleepwear Market, Sleepwear Market growth, Sleepwear Market share, Sleepwear Market size, Sleepwear Market trends
- 0 Comments
Global Sleepwear Market is expected to grow significantly by 2027 expanding at a reasonable CAGR of around 9% during 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 is projected to allow consumers to spend more on apparel and other clothes including sleepwear. 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.
Consumer spending on clothing and footwear across the globe amounts to an estimated 2,032,403.47 million U.S. dollars in 2021, as raveled by Statista. Moreover, the number is forecast to reach 2,571,939.42 million dollars by 2025. Moreover, a rise in disposable income owing to the rising number of working women and emerging per capita income across countries is leading to the growth of the sleepwear market.
For a detailed analysis of the market drivers in Sleepwear browse through – https://univdatos.com/report/sleepwear-market/
The key factors attributed to the growth of the Sleepwear Market across the globe are growth in disposable income, dynamic fashion trends, and its influence over consumers. Moreover, the factors such as comfort, price, color, style, fit, and trendiness offered by the players in the market’s acting as a growth catalyst to the market. As per the Journal of Student Research, the most important attribute was comfort, which 88% said was very important. The second most important attribute was fit, which 62.5% said was also very important. The attribute that was considered least important was the trendiness of the sleepwear, which a total of 87% claimed was somewhat important to not important at all.
The COVID-19 Pandemic positively impacted the sleepwear market. As per Harvard Business School, ales of pajamas more than doubled in 2020 compared with 2019, the fastest growth among clothing categories. Also, a Madrid-based online seller of sustainable knitting supplies said that steady 10% annual sales growth spiked to 235% globally in March (270% in the US). Also, Due to Covid-19, consumers have prioritized comfort and self-care, giving retailers the chance to increase the prices.
For a detailed analysis of the Product Type in Sleepwear browse through – https://univdatos.com/report/sleepwear-market/
Based on the Product Type, the market is fragmented into Top Wear, Bottom Wear, Night Dress & Gowns, and Sleepwear sets. The Sleepwear set segment grabbed the major market share in 2020. The segment captured XX% market in 2020. Moreover, the market of this segment is expected to skyrocket by 2027 by growing at an exponential CAGR during 2020-2021 due to the rising demand from males, females, and kids as well.
Based on the Material, the market is fragmented into Cotton, Wool, Silk, and Others. The cotton segment grabbed the leading market share and dominated the market. As per the Journal of Student Research, When given a choice of cotton, silk, or rayon, 87% of respondents said they prefer to purchase sleepwear that is made of cotton. However, the other segment would be emerging in the forthcoming years.
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Additionally, the report provides detailed initiatives that are being taken in the field of Artificial Plants. The market is classified into distinct regions including North America (the U.S, Canada, Rest of North America), Europe (Germany, France, Spain, Italy, and United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, Australia, India, South Korea, and the Rest of APAC), Rest of World has been conducted. North America region dominated the market and grabbed major market share in 2020. However, the Asia-Pacific region is expected to witness the highest CAGR during the forecast period on account of rising disposable income in the countries such as China, India, and Japan.
Global Sleepwear Market Segmentation
Market Insight, by Product Type
- Top Wear
- Bottom Wear
- Night Dress & Gowns
- Sleepwear Set
Market Insight, by Material
- Others (Rayon, Polyester, Blend, Etc.)
Market Insight, by Size
Market Insight, by Distribution Channel
- Hypermarket/ Supermarket
- Discount Stores
Market Insight, by End-User
Market Insight, by Price
- Low (Below US$ 20)
- Medium (US$20 – US$ 50)
- High (Above US$ 50)
Market Insight, by Region
- North America
- United States
- Rest of North America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Rest of World
Top Company Profiles
- DECATHLON S.A.
- L BRANDS INC
- A Berkshire Hathaway Inc.
- American Eagle Outfitters, Inc.
- Hanesbrands Inc.,
- Jockey International, Inc.
- Triumph International Holding GmBH.
- Hanky Panky Ltd.
- PVH Corporation
- MAS Holdings Ltd.