The Global Sleepwear Market size is expected to reach $21.6 billion by 2026, rising at a market growth of 13.6% CAGR during the forecast period. Sleepwear refers to apparel, specially designed to be worn while going to bed. The growing sleepwear market is attributed to the continuously changing fashion trends that influence consumers. The majority of the consumers have the eagerness to grasp the ongoing and upcoming trends to upgrade their fashionable lifestyle.
There is a race to adopt the ongoing fashion trends that influence people to purchase the new fashion trends apparel, which is especially worn by celebrities and fashion influencers. The trendy fashion apparel discards the phased-out apparel in a very subtle way. Nowadays, fashion trends are going bold and classic, which stands out of the queue, these trendsetters influence people to flourish their innerwear or sleepwear as casual wear that propels the growth of the sleepwear market.
Moreover, there is an increasing demand for the sleepwear that are trendy and fashionable, which encourages the companies to introduce new fashionable sleepwear products that meet up the requirement of the customers. Additionally, the majority of the demand for these products arises from the adult age group, specifically women, as they choose and spend more on their type of apparel. Furthermore, this apparel category is not only fashionable but also very comfortable, which helps in the growth of the market.
COVID-19 pandemic has affected the global economy in three ways as follows, direct effect on the production and demand, creation of supply chain and market disruption, and financial loss of the firms. This pandemic-imposed travel ban, restaurants ban and strict lockdown in forty countries, thereby slowing down the growth of the sleepwear market. It also contributed in the major fall business confidence, growing panic among the population, and uncertainty about future.
By End User
Based on End User, the market is segmented into Women, Kids and Men. Based on users, the women category is the most prominent user of the market and it is expected to maintain the dominance during the forecast period. The growth is attributed to the concept of work from home and the busy schedule of the users, which is uplifting this trend. Additionally, weather plays an important role to promote different sleepwear products that are available in the market during different weather.
By Distribution Channel
Based on Distribution Channel, the market is segmented into Hypermarket/Supermarket, Online, Discount Stores and Others. Based on the distribution channel, the supermarkets/hypermarkets segment was the highest revenue contributor to the market in 2019 and it is expected to dominate during the forecast period. Furthermore, these retail channels provide the one-stop solution for the customer to make it a popular shopping option.
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. On the basis of region, the most prominent market was North America in 2019. Asia Pacific is anticipated to grow at a higher CAGR during the forecast years. The growth of the regional segment depends on the increasing disposable income and impact of the western countries on people’s clothing and lifestyle.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include L Brands, Inc. (Bath & Body Works, LLC), PVH Corporation, Hanesbrands, Inc., Berkshire Hathaway, Inc., American Eagle Outfitters, Inc. (Retail Ventures), Hanky Panky Ltd., MAS Holdings Limited, Jockey International, Inc., Decathlon S.A. (Asociacion Familiale Mulliez) and Triumph International Holdings GmbH.
Scope of the Study
Market Segments covered in the Report:
By End User
By Distribution Channel
• Discount Stores
• North America
o Rest of North America
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of Asia Pacific
o Saudi Arabia
o South Africa
o Rest of LAMEA
• L Brands, Inc. (Bath & Body Works, LLC)
• PVH Corporation
• Hanesbrands, Inc.
• Berkshire Hathaway, Inc.
• American Eagle Outfitters, Inc. (Retail Ventures)
• Hanky Panky Ltd.
• MAS Holdings Limited
• Jockey International, Inc.
• Decathlon S.A. (Asociacion Familiale Mulliez)
• Triumph International Holdings GmbH.
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