Sleepwear Market generated USD 11.63 billion in 2021 and is expected to reach USD 18.72 billion, registering a CAGR of 10.4% from 2021 to 2026.
Sleepwear, also known as nightwear, is specially designed to provide a relaxed and comfortable sleep. There are various types of nightwear available on the market and online also for men, women, and children.
The rise of the dynamic fashion trend and its influence on consumers, the race to keep up with the changing fashion trend, and the rise in demand for fashionable and trendy nightwear are driving the market growth in the global sleepwear market. Additionally, increased preference for online retail stores and increased disposable income have driven the market growth. However, the availability of counterfeit products is hampering market growth. On the other hand, the introduction of stretch and quick-drying fabrics creates new opportunities in the coming years.
Sleepwear is clothing designed to be worn while you sleep. The growth of the nightwear market is attributed to the dynamic fashion trend and its influence on consumers. Consumers are eager to catch the next trend and demonstrate their fashionable lifestyle. This race to keep up with the changing fashion trend is expected to significantly drive consumers to buy the latest fashion models, especially worn by celebrities, and on the other hand, also subtly influence the rejection of abandoned clothing.
Nowadays, fashion trends have become bolder, leading consumers to flaunt their underwear as leisure casual wear or even nightwear, thus driving the growth of the night clothing market. Also, the growing demand for trendy and trendy nightwear has encouraged companies to launch new products to meet the increasing needs of customers. In addition, the demand for these outfits by the adult age group has increased significantly, especially among women, who spend a lot on these types of garments. In addition, this clothing is not only fashionable, but also comfortable to wear, which greatly contributes to the growth of the world market.
The online retail platform is the main driver of the sleepwear industry. This is attributed to the fact that today most intimate apparel manufacturing companies have their own online retail stores where consumers can get excessive information on the latest fashion trends and information on the latest fashion trends, materials and fabrics. In addition, the number of consumers shopping online is increasing at a high rate, due to the availability of various product options and the ease of price comparison on online shopping sites. This is useful for retailers due to zero spending on physical outlets or showrooms. Some of the main reasons for consumers' preference to buy online is that consumers can read reviews provided by other consumers, compare various stores and products, and can compare the price of products from different sellers. All these factors have collectively contributed to the growth of the global sleepwear market.
However, the availability of counterfeit products is the main limitation in the world market. On the contrary, the introduction of the elastic and quick-drying fabric is expected to provide immense opportunities for the expansion of the global sleepwear market.
The global sleepwear market is segmented and sub-segmented into the following categories:
The female segment was the dominant category in 2019 and is expected to remain dominant throughout the forecast period. The growth of this segment is attributed to an active lifestyle and the culture of working from home has reinforced this trend. In addition, the availability of specific nightwear for different weather conditions prompts consumers to buy various sets and thus changes in weather encourage consumers to buy more nightwear, which in turn stimulates their sales, thus complementing the growth of the market. Also, several women are opting for nightwear, which makes them attractive, which is driving the growth of the market.
The supermarket/hypermarket segment was the largest contributor to the market in 2019 and is expected to remain dominant through 2021-2026. This is attributed to the increase in the number of supermarkets and hypermarkets in mature and emerging economies. Furthermore, the unique solution provided by these retail formats makes them a popular shopping option for consumers. Additionally, these retail formats offer a wide range of products at competitive prices to customers and are generally located in easily accessible areas, increasing the overall appeal of this segment.
In terms of geography, the global sleepwear market can be divided into five regions:
North America and Europe are the most attractive markets due to strong distribution channels and the preference for different types of nightwear among the younger population. Asia-Pacific is expected to show the fastest growth rate over the forecast period due to the increasing number of bridal nightwear buyers and strong innovation from manufacturers. Furthermore, the ease of availability of raw materials is expected to increase sleepwear production in the region.
It is estimated that the major players in the sleepwear market will experience a growing demand during the forecast period due to the introduction by companies of the latest transitional nightwear products that should inspire customers and encourage them to spend more on sleepwear. Manufacturers are focusing on acquisitions, expansions, and collaborations with startups as the primary strategy for gaining significant market share. In addition, the market is expected to see an improvement in the trend to increase the manufacture of new products with attractive packaging and spend more on product promotion.
The new coronavirus pandemic has had a significant impact on the domestic and international trade of the sleepwear industry. Supply chain disruptions have had a substantial impact on industry sales. Logistical restrictions and labor shortages made it difficult to purchase products. Also, due to lockdown measures, manufacturing companies have suspended their projects and plans. Government agencies in various regions have imposed flexibilities on some restrictions and allowed various industries to revive their projects and plans. The market may experience an increase in demand shortly after the reopening of services.
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Sleepwear Market, By End User
6.1.4 Market Size Estimations & Forecasts (2021-2026)
6.1.5 Y-o-Y Growth Rate Analysis
6.1.6 Market Attractiveness Index
6.2 Sleepwear Market, By Distribution Channel
6.2.3 Discount Stores
6.2.4 Market Size Estimations & Forecasts (2021-2026)
6.2.5 Y-o-Y Growth Rate Analysis
6.2.6 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2018 - 2024)
7.2.1 By Country
7.2.2 By End User
7.2.3 By Distribution Channel
7.3.1 By Country
22.214.171.124 Rest of Europe
7.3.2 By End User
7.3.3 By Distribution Channel
7.4 Asia Pacific
7.4.1 By Country
126.96.36.199 South Korea
188.8.131.52 South East Asia
184.108.40.206 Australia & NZ
220.127.116.11 Rest of Asia-Pacific
7.4.2 By End User
7.4.3 By Distribution Channel
7.5 Latin America
7.5.1 By Country
18.104.22.168 Rest of Latin America
7.5.2 By End User
7.5.3 By Distribution Channel
7.6 Middle East and Africa
7.6.1 By Country
22.214.171.124 Middle East
7.6.2 By End User
7.6.3 By Distribution Channel
8. Key Player Analysis
8.1.1 Business Description
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 Calvin Klein
8.3 Ralph Lauren
8.4 David Jones
8.8 Mimi Holiday
8.10 Morgan Lane
9. Market Outlook & Investment Opportunities
List of Tables
List of Figures