December 2022, Market Research Future has published a Report on the Global Sleepwear Market
Market Research Future has recognized the following companies as the key players in the global sleepwear market: Jockey International (US), PVH Corporation (US), and Triumph International. (Switzerland), MAS Holding (Sri Lanka), Sleepy Jones. (US), Victori’s Secret & Co. (US), American Eagle Outfitters Inc. (US), Marks & Spencers (UK), Hanky Panky Ltd (US), and Hanesbrands. (US).
Sleepwear Market Highlights
The global sleepwear market is projected to be valued at USD 21.9 billion by 2030, recording a CAGR of 9.69% during the forecast period. Several factors are driving the growth of the market. The growing working women population is majorly driving the market growth. Furthermore, product innovation with the growth of the apparel industry is projected to contribute to the sleepwear market growth. The growth of the organized retail sector in Asia-Pacific is further boosting the growth of the market. The strong influence of social media and marketing strategies provide a lucrative market to the existing players. However, the presence of the unorganized sector is restricting the growth of the market.
Segmental Analysis
The global sleepwear market has been segmented based on type, tool holder, end use, distribution channel, and region.
Based on product type, the market has been segmented into top wear, bottom wear, night dresses & gowns, and sleepwear sets. The night dresses & gowns segment accounted for the largest market share of 44.59% in 2020. A nightdress, nightie, or nightgown is loosely hanging sleepwear that is now worn almost exclusively by women. A nightgown is made of satin, silk, cotton, or nylon and may have lace appliqués or embroidery on the hem and bust. The type of night dress worn could differ with the seasons, with warmer designs worn in colder conditions and vice versa. Some styles or materials are chosen to be visually aesthetic or titillating in addition to their useful purposes. In addition, interest in these clothes among adults has increased sharply, especially among women who pay heaps of cash for this kind of apparel.
Based on material, the sleepwear market has been segmented into cotton, wool, silk, and others. The cotton segment accounted for a larger market share of 42.19% in 2020. Cotton sleepwear’s breathable nature allows air to circulate around the skin for a better night’s sleep. It does not usually irritate the skin due to the soft nature of natural fabrics in cotton. Cotton rubs against the skin instead of sticking, meaning the person will not feel static in the morning. The increasing demand for modern and fashionable nightwear has encouraged companies to launch new products to meet customers’ growing needs, which is likely to propel the segment growth.
Based on end users, the market has been segmented into females, males, and kids. The female segment accounted for the largest market share of 74.05% in 2020. Sleepwear for women is also known as a nightgown, nightwear, or nightdress. It is a garment created for sleeping. It is used by women who are comfortable with it. Sleepwear is more common among women as they are more likely to invest in these clothes due to the increasing trend of nightwear and loungewear.
Based on distribution channel, the sleepwear market has been segmented into store-based and non-store-based. The store-based segment accounted for the largest market share of 70.28% in 2020. Store-based distribution channels are categorized into supermarkets & hypermarkets and convenience stores to avoid intermediaries in the supply chain and sell products directly to consumers, thereby reducing operating expenses. Supermarkets & hypermarkets also contribute significantly to the distribution of sleepwear. Some key manufacturers, such as Jockey International, PVH Corporation, and Berkshire Hathaway Inc., also focus on store-based distribution, bypassing the retailer’s distribution center.
Regional Analysis
On the basis of region, the global sleepwear market has been categorized as North America, Europe, Asia-Pacific, and the Rest of the World. As per MRFR analysis, The Asia-Pacific market is expected to be highly lucrative for manufacturers during the forecast period. The regional market accounted for 35.10% of the global market in 2020 and is projected to exhibit the highest growth rate of 10.56% during the forecast period. The growing number of bridal nightwear buyers is one of the most common trends across this region. In the last two years, online demand for bridal nightwear has increased. Buyers of sleepwear products include newlyweds, honeymooners, and even bachelor party bands. Also, manufacturers are improving their distribution channels to increase sales. North America accounted for the market share of 28.60% in 2020, with a market value of USD 2,581.90 million; the market is expected to register a CAGR of 9.03% during the forecast period. The North American market consists of the US, Canada, and Mexico; it is projected to hold a significant share of the global sleepwear market during the review period. The market in North America offers lucrative opportunities for manufacturers of sleepwear. The expanding product portfolio of key manufacturers with innovation in colors, materials, and designs of various product types is one of the most significant growth drivers of the regional market. Innovations in the technology, for instance, lingerie specialist Mey has announced the launch of its sleepwear line, designed to improve the quality of sleep for both men and women. Europe accounted for 23.87% of the global sleepwear market in 2020 and the regional market is projected to exhibit a CAGR of 9.29%. The market in Europe is expected to grow during the assessment period owing to factors such as increasing awareness of safety and comfort while sleeping. Moreover, the advertising of products through celebrity endorsements creates deeper involvement among consumers, thereby accelerating the market growth in Europe. Also, the key manufacturers are shifting focus to women, which is a large section of customers that remains untapped. The rest of the world covers South America, the Middle East, and Africa. The regional market accounted for a 12.43% market share in 2020 and is projected to register the CAGR of 9.36% during the forecast period. The market in South America is estimated to be dominant and be valued at USD 463.07million by 2030, registering a moderate growth rate of 9.40%. The growth of the market is anticipated to be driven by several factors. One of the significant factors for the rising growth of the sleepwear market is changing lifestyles of the consumers along with new product developments.
Key Findings of the Study:
- The global sleepwear market is projected to register a growth rate of 9.69% from 2021 to 2028.
- The night dresses & gowns segment accounted for the largest market share of 44.59% in 2020 whereas, the sleepwear set segment is likely to register the highest CAGR of 9.86% during the review period.
- The cotton 42.19% segment accounted for a larger market share of 64.71% in 2020 and is expected to exhibit a CAGR of 9.82% during the review period.
- The female segment accounted for the largest market share of 72.05% in 2020 whereas, male is projected to register the highest CAGR of 10.27% during the forecast period.
- The store-based segment accounted for the largest market share of 70.28% in 2020, whereas the non-store-based segment is estimated to register the highest growth rate of 10.48% during the forecast period.
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Base Year | 2022 |
Companies Covered | 15 |
Pages | 110 |
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