Global Loungewear Market Research Report: Information By Material (Cotton, Wool, Silk and Others), End User (Female, Male and Kids), Distribution Channel (Store-Based {Supermarkets & Hypermarkets, Specialty Stores and Others} and Non-Store-Based) and Region (North America, Europe, Asia-Pacific and Rest of the World) - Forecast till 2027

Market Scenario

Global Loungewear Market size is projected to reach approximately USD 9.23 Billion by 2027, at a CAGR of 9.5% from 2020 to 2027. The demand for loungewear is increasing owing to consumer inclination toward fashionable and versatile designs in loungewear. Loungewear is casual, comfortable clothing suitable for wearing at home. They are available in different materials, such as wool, silk, and cotton. Various initiatives taken by manufacturers to expand their business in the loungewear market are expected to drive the demand. Moreover, the rising demand for loungewear trend while walking, or at the gym or yoga, at the beach, as a bathing suit is also expected to uplift the market growth. Media promotion and celebrity endorsements are creating an opportunistic market for the players in the loungewear industry.

The outbreak of COVID-19 across the globe has resulted in a lockdown of cities, border restrictions, and breakdown of transportation networks. This is projected to have a significant impact on the commodities supply chains, international trade, and manufacturing operations across the world. According to the United Nations, the global economy is projected to contract by around 1% or more instead of registering 2.5% growth projected by the World Economic Situation and Prospects report 2020. The world economy contraction rate is expected to be more than 1% or possibly more than what was experienced in the global financial crisis in 2009 (i.e., ~2.5%) if the governments (in the developing and developed countries) fail to provide required income support and help lift consumer spending.

A significant change has been observed in consumer buying behavior due to the COVID-19 pandemic. As stay-at-home restrictions started, consumers gravitating towards fashion catered to the new normal. The transition from work from home, grocery shopping, work-out, and social media appearance has changed the fashion trend into presentable and comfortable clothes.  

Market Synopsis

Global Loungewear Market has witnessed moderate growth in recent years. The growing acceptance of loungewear as a fashion trend as consumers have shifted their focus towards comfortable and presentable clothing preference at home. The wide availability of the product in different types, such as sweatshirts, lounge shirts, joggers, and jumpsuits, has escalated the demand for loungewear. Moreover, the rising demand for fashionable and trendy loungewear has encouraged market players to launch innovative products to cater to the increasing consumer demand. Also, the availability of products for different events such as meetings, late lunches, brunch, and evening soirees has considerably contributed to the growth of the global market.

Market USP

Availability of Luxury Loungewear

Market Drivers

• Mounting growth of the organized retail sector: The increasing availability of clothing at organized retail stores is an important factor fueling the sales of loungewear. These products were earlier available at selected outlets such as convenience stores and specific retail stores. A growing customer base has led retail stores, such as supermarkets and hypermarkets, to stock loungewear, thereby facilitating the purchase. Furthermore, supermarket chains and retailers at the regional and national levels are capitalizing on the loungewear trend. Additionally, advertisements and promotional activities for loungewear at various retail chains are supporting sales. E-commerce platforms are the rapidly growing business model in every industry. Even though the percentage of people buying clothing through stores is currently higher, it has been observed that the adoption of online platforms is growing rapidly


• Entry of foreign retailers


• Increasing per capita disposable income


• Growing working women population

Market Restraints

• Presence of Unorganized Markets

Segmentation

By Material

• Cotton: The segment accounted for the largest revenue share and is expected to maintain its dominance during the forecast period due to the ease in availability of products. Attractive product packaging and the growing trend of loungewear owing to the influence of social media is expected to propel the growth of the segment during the forecast period.


• Wool


• Silk


• Others

By End-Use

• Female: This segment accounted for the largest market share in 2019 and is projected to grow at a moderate pace during the forecast period. The availability of high-quality modern clothing at reasonable prices for women is anticipated to drive the demand for loungewear.


• Male


• Kids

By Distribution Channel

• Store-Based: The store-based segment has been further divided into supermarkets and hypermarkets, specialty stores, and others. The supermarkets and hypermarkets sub-segment is expected to be the largest as these channels account for the maximum sales of loungewear. Convenience stores also play a significant role in the distribution of loungewear.


• Non-Store-Based

By Region

• North America: North America accounted for the largest market share in the global loungewear market in 2019 and is expected to show the same trend during the study period. The key manufactures are emphasizing the promotional activities to create strong awareness among the consumers regarding new product launches, which will accelerate the growth of the North American market. Moreover, manufacturers are focusing on expanding their presence to capture the regional market. For instance, in October 2019, Nordstrom, Inc. announced the opening of its first-ever flagship store in New York (US) for Women and Children.


• Europe


• Asia-Pacific


• Rest of the World

Key Players

• L Brands Inc. (US)


• Hanesbrands Inc. (US)


• Jockey International Inc. (US)


• Marks & Spencer Group Plc (UK)


• PVH CORPORATION (US)


• H & M (Sweden)


• Triumph International Holding GmBH (Germany)


• Authentic Brands Group LLC (US)


• Urban Outfitters (US)


• Nordstrom, Inc. (US)

Report Scope:

Report Attribute/Metric	Details
Market Size	USD 9.23 Billion
CAGR	9.5% (2020 to 2027)
Base Year	2019
Forecast Period	2020 to 2027
Historical Data	2018
Forecast Units	Value (USD Billion)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	Material, End User and Distribution Channel
Geographies Covered	North America, Europe, Asia-Pacific, and Rest of the World (RoW)
Key Vendors	L Brands Inc. (US), Hanesbrands Inc. (US), Jockey International Inc. (US), Marks & Spencer Group Plc (UK), PVH CORPORATION (US) H & M (Sweden), Triumph International Holding GmBH (Germany), Authentic Brands Group LLC (US), Urban Outfitters (US) and Nordstrom, Inc. (US)
Key Market Opportunities	The growing acceptance of loungewear as a fashion trend as consumers have shifted their focus towards comfortable and presentable clothing preference at home The rising demand for fashionable and trendy loungewear has encouraged market players to launch innovative products to cater to the increasing consumer demand
Key Market Drivers	Mounting growth of the organized retail sector Entry of foreign retailers Increasing per capita disposable income