The global sleepwear market is projected to reach 18,694.8 million dollars by 2027, registering annual growth of 9.7 percent in the period comprehended between 2020 and 2027. In 2019, this niche retail’s market size was valued at 10,495.0 million dollars.
According to a new report published by Allied Market Research titled “Sleepwear Market by End User and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2020–2027,” the global sleepwear market is expected to grow steadily in the next seven years, more precisely registering a CAGR of 9.7 percent from 2020 to 2027. The authors of the research noted that the online segment was the highest contributor to the market, with 2,535.6 million dollars in 2019, and is estimated to reach 4,782.3 million dollars by 2027, at a CAGR of 10.5 percent during the forecast period.
Trend wise, bridal sleepwear and sleepwear for themed parties are both gaining increased traction, especially in more mature markets such as North America and Europe. Fashion shows such as the Victoria Secrets one, which showcase large variety of loungewear and sleepwear have led to increase in popularity of sleepwear globally which has in turn led to growing sales.
The growth of the sleepwear market is majorly driven by increase in preference for comfortable clothing. The sleepwear market growth is largely influenced by western lifestyle and fashion trends.
Per the sleepwear market analysis by end user, the women segment was the most prominent category in 2019, and is expected to remain dominant during the forecast period. Conversely, the kids segment is expected to grow at a notable CAGR through the forecast period. On another note, the supermarket/hypermarket segment was the highest contributor to the global market in 2019 by distribution channel, and is expected to continue this trend from 2020 to 2027. However, the online segment is expected to grow at a higher growth rate through the forecast period
Region wise, North America led the market in 2019, and is projected to dominate the sleepwear market during the forecast period. However, Asia-Pacific is expected to grow at the highest CAGR in the near future.
Key players in the industry include L Brands Inc., Berkshire Hathaway Inc., American Eagle Outfitters, Inc. (AERIE), Hanesbrands Inc., Jockey International, Inc., Triumph International Holding GmBH., Hanky Panky Ltd., PVH CORPORATION, MAS Holdings Ltd., and the Chantelle Group.