New York, US, Aug. 30, 2021 (GLOBE NEWSWIRE) -- Sleepwear Market Overview
According to a comprehensive research report by Market Research Future (MRFR), “Sleepwear Market Information by Product Type, Material, End User, Distribution Channel, and Region - Forecast till 2027”, the market is projected to cross USD 18.5 Billion by 2027 at 9% CAGR.
Market Scope
The sleepwear market has developed increasingly in the pandemic due to individuals staying more than ever before. With the rising consumer desire for stylish items, demand for sleepwear is expanding. Nightwear, nightdresses, and nightclothes are all terms for sleepwear. These are the clothing that is most commonly worn or liked while sleeping. It's made of a variety of materials, including cotton, wool, and silk, among others. The increased preference for comfort clothing in several countries is estimated to spur the development of the sleepwear market in the forecast period. The increased online presence of brands online will further enhance the development of the sleepwear market in the forthcoming period. Also, the improved product designs and overall comfort will further augment the expansion of the sleepwear market in the forthcoming period.
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Market Drivers
Strong economic growth, widespread migration from rural to urban regions, and the emergence of a big and prosperous middle class have prompted multinational retailers to cross borders and supported the opening of new retail establishments. Due to the easy availability of the required goods, strong cross-border trades in sleepwear have also attracted many consumers to the product line.
Competitive Landscape
The central companies in the sleepwear market are
- Berkshire Hathaway Inc. (US)
- Hanky Panky Ltd. (US)
- L Brands Inc. (US)
- Hanesbrands Inc. (US)
- American Eagle Outfitters Inc. (US)
- MAS Holdings Ltd. (Sri Lanka)
- Jockey International Inc. (US)
- Triumph International Holding GmBH (Germany)
- PVH CORPORATION (US)
- Chantelle Group (France)
Market Restraints
The sleepwear market is estimated to be restrained by the increasing number of private-label manufacturers in the market who will raise competition in the market.
Browse In-depth Market Research Report (90 Pages) on Sleepwear: https://www.marketresearchfuture.com/reports/sleepwear-market-10436
COVID 19 Analysis of Sleepwear Market
The emergence of the global COVID-19 epidemic has triggered a worldwide disaster. The pandemic, which has affected over 213 nations, has already created a global economic backdrop. Consumers are shifting their attention to non-store-based distribution channels such as online e-commerce platforms as store-based distribution channels such as supermarkets, hypermarkets, and specialty stores close. With stocks and shipping operations, sleepwear businesses are selling their products through online platforms. Furthermore, due to limited customer traffic, countries that have loosened the lockdown are experiencing a gradual decline in the selling of sleepwear through retail stores. For example, Weekend Made is a new sleepwear brand that aims to relieve persons with exceptionally sensitive skin who require sensory-friendly, seamless sleepwear.
Weekend Made tailors items to reduce thread-to-skin contact and bulky seams. The addition of modal, lyocell and spandex to the soft, natural, sweat-wicking fabric adds comfort. Classic button-up pajamas for women and children are included in the first collection, as well as a special variety of double-breasted pajamas for children alone. There are two mommy, and me styles to choose from. Pajamas are now available in black and blush beauty pink, with blue and red pajamas arriving in October.
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Market Segmentation
The bottom wear segment is estimated to account for the highest market share in the forecast period by product type.
By material, the silk segment is anticipated to register the highest growth rate during the forecast period.
By end-use, the female segment accounted for the largest market share in the forecast period and is projected to grow at a reasonable pace throughout the forecast period.
By distribution channel, the store-based segment is estimated to be led by the supermarkets and hypermarkets sub-segment, which is expected to be the largest. These channels account for the highest sleepwear sales.
Regional Insights
In 2019, North America held the greatest market share in the global sleepwear market, and this trend is likely to continue during the study period. One of the major reasons driving the growth of the sleepwear market in North America is prominent manufacturers expanding their product portfolios. During the projection period, Asia-Pacific is expected to increase at the fastest rate. The rising popularity of sleepwear in developing nations and consumers' increasing disposable income are expected to boost the market's growth in Asia-Pacific. Recently, for its Quadrant Growth Fund, Quadrant Private Equity has decided to invest in Papinelle, a women's sleepwear, and loungewear line. Papinelle was formed in 2003 at Sydney's Paddington Markets and has since evolved to become an international sleepwear and lifestyle company, selling its products both online and in physical stores. Its offerings include PJ sets with matching tops and bottoms, nighties, robes, and underwear, with pyjamas ranging in price from $80 to $200 on the company's website.
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