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2020
Sleepwear Market

Sleepwear Market

by End User (Men, Women, and Kids) and Distribution Channel (Online Hypermarket/Supermarket, Discount Stores, and Others): Global Opportunity Analysis and Industry Forecast, 2020-2027

Report Code: A06311
Pages: 210
May 2020 | 14600 Views
Author(s) : Sumesh K , Roshan D
Tables: 58
Charts: 32
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The sleepwear market size was valued at $10,495.0 million in 2019, and is projected to reach $18,694.8 million by 2027, registering a CAGR of 9.7% from 2020 to 2027. The online segment was the highest contributor to the market, with $2,535.6 million in 2019, and is estimated to reach $4,782.3 million by 2027, at a CAGR of 10.5% during the forecast period.

Sleepwear is an apparel designed to be worn while sleeping. The growth of the sleepwear market is attributed to dynamic fashion trend and its influence over consumers. Consumers are eager to grasp the upcoming trend and demonstrate their fashionable lifestyle. This race to cope up with the changing fashion trend is anticipated to significantly influence consumers to purchase latest fashion designs, especially worn by celebrities and on the other hand also subtly influence to discard phased out apparel. In the present era, fashion trends have become bolder, which push consumers to flaunt their innerwear as casual loungewear or even sleepwear, thus propelling the growth of the sleepwear market. Furthermore, rise in demand for trendy and fashionable nightwear has encouraged companies to launch new products to cater to increasing needs of customers. In addition, the demand for these outfits from the adult age group has increased considerably, especially among women, as they spend substantially on these type of apparel. Moreover, these apparel not only look trendy but also are comfortable to wear, which considerably contributes toward the growth of the global market.

Sleepwear Market

Online retail platform is the major driver of the sleepwear industry. This is attributed to the fact that presently most of the intimate wear manufacturing companies have their own web-based retail stores where consumers can gain excessive information about the latest fashion trends and material/fabric-related information. In addition, the number of consumers shopping online is escalating at a high rate, owing to availability of varied product options and easy price comparison on online shopping sites. This is useful for retailers due to zero expenditure on physical outlets or showrooms. Some of the major reasons behind consumer preference for online shopping are consumers can read reviews provided by other consumers, compare various stores & products, and can compare product price by different sellers. All these factors collectively have contributed toward the growth of the global sleepwear market.

Improvement in economic condition and surge in disposable income propel the market growth. Post the 2009 economic crisis in Europe and the economic crisis in China, the world economy witnessed a standstill. However, recovery from the crisis resulted in strong economic growth, especially in developing economies, and has led to increase in disposable income among the middle-income groups. In addition, disposable income of individuals in North America and the Asia-Pacific has witnessed an increase, thus acting as a major driver for the market, as medium- and high-income consumers in urban areas are shifting their consumption trend from essential to premium goods & services. This trend favors sleepwear suppliers & institutions to enhance their product & services. However, the availability of counterfeit products acts as the major restraint of the global market. On the contrary, the introduction stretchable and quick-drying fabric is anticipated to offer immense opportunities for the expansion of the sleepwear market.

The sleepwear market is segmented into end user, distribution channel, and region. By end user, the market is classified into men, women, and kids. On the basis of distribution channel, it is differentiated into online hypermarket/supermarket, discount stores, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA

Sleepwear Market
By End User

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The women segment was the fastest growing segment in 2019.

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Depending on the sleepwear market analysis, by end user, the women segment was the prominent category in 2019, and is expected to remain dominant during the forecast period. The growth of this segment is attributed to busy lifestyle and the culture of work from home have uplifted this trend. In addition, availability of nightwear specific for different weather promote consumers to buy multiple sets, and as a result changes in weather encourage consumers to buy more nightwear, which, in turn, boosts their sale, thereby supplementing the growth of the market. Furthermore, a number of women opt for nightwear that makes them look attractive, which drives the growth of the market.

Sleepwear Market
By Distribution Channel

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The online segment was the fastest growing segment in 2019.

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On the basis of sleepwear market forecast, by distribution channel, the supermarket/hypermarket segment was the highest contributor to the market in 2019, and is expected to remain dominant through 2020–2027. This is attributed to increase in number of supermarket and hypermarket in both mature and emerging economies. Moreover, the one-stop solution provided by these retail formats makes it a popular shopping option for consumers. Furthermore, these retail formats offer a wide range of products at a competitive price to customers, and are usually located at easily accessible areas, which adds to overall attractiveness of this segment. However, the online segment is expected to grow at a higher growth rate during the forecast period. The growth in this segment is attributed to increase in penetration of online sales platform and surge in online purchases, due to the convenience fosters the growth of sleepwear market. Moreover, online sales has significantly contributed to increase in revenue of the companies operating in the market. This is attributed to the fact that key players operating in the market are increasingly collaborating with online channel sites to improve their market presence and strengthen their foothold in the competitive environment. All these factors together have boosted the growth of the online channels, which, in turn, has fueled the sale of sleepwear, globally.

Sleepwear Market
By Region

2027
North America 
Europe
Asia-Pacific
LAMEA

North America was the dominant regional segment in 2019.

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By region, North America was the most prominent market in 2019. However, Asia-Pacific is expected to grow at a higher CAGR during the forecast period. The growth of this regional segment can be attributed to increase in disposable income and influence of western economies on lifestyle and clothing.

The players in the sleepwear industry have adopted product launch as their key development strategy to increase profitability and improve stance in the sleepwear market share. The key players profiled in the report 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.

Key Benefits for Stakeholders:

  • The report provides a quantitative analysis of the current sleepwear market trends, estimations, and dynamics of the market size from 2019 to 2027 to identify the prevailing opportunities.
  • Porter’s five forces analysis highlights the potency of the buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
  • In-depth analysis and the market size and segmentation assists to determine the prevailing Sleepwear market opportunities.
  • The major countries in each region are mapped according to their revenue contribution to the market. 
  • The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the industry. 

Sleepwear Market Report Highlights

Aspects Details
By End User
  • MEN
  • WOMEN
  • KIDS
By Distribution Channel
  • ONLINE
  • SUPERMARKET/HYPERMARKET
  • DISCOUNT STORES
  • OTHERS
By Region
  • NORTH AMERICA  (US, CANADA, MEXICO)
  • EUROPE  (GERMANY, UK, FRANCE, ITALY, SPAIN, REST OF EUROPE)
  • ASIA-PACIFIC  (CHINA, INDIA, JAPAN, SOUTH KOREA, AUSTRALIA, REST OF ASIA-PACIFIC)
  • LAMEA  (BRAZIL, SOUTH AFRICA, REST OF LAMEA)
Key Market Players L BRANDS INC, A Berkshire Hathaway Inc., American Eagle Outfitters, Inc., DECATHLON S.A., Hanesbrands Inc.,, Jockey International, Inc., Triumph International Holding GmBH., Hanky Panky Ltd., PVH Corporation, MAS Holdings Ltd.
 

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The sleepwear market has witnessed steady growth even under several unrests such as global uncertainty, weakened global economy, terrorist attacks, and others. The sleepwear market possesses high growth potential, owing to rise in adoption of fashionable apparel by both men and women on a global level. Moreover, increase in influence of western lifestyle and fashion has driven the growth of the sleepwear market in emerging Asian countries. However, availability of counterfeit product acts as the major restraint for the market, whereas evolution in terms of design and functionality is expected to provide opportunities for growth of the market.

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FREQUENTLY ASKED QUESTIONS?

A. The sleepwear market is expected to grow at a CAGR of 9.7% from 2020 to 2027.

A. The sleepwear market is is projected to reach $18,694.8 million by 2027.

A. The growth of sleepwear market is positively influenced by growing eagerness of consumers to grasp the upcoming trend and demonstrate their fashionable lifestyle.

A. This race to cope up with the changing fashion trend is anticipated to significantly influence consumers to purchase latest fashion designs. rise in demand for trendy and fashionable nightwear has encouraged companies to launch new products to cater to increasing needs of customers.

A. The sleepwear market is segmented into end user, distribution channel, and region.

A. The forecast period for Sleepwear Market is 2020-2027.

A. The key players profiled in the report 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.

A. The Asia-Pacific region will provide more business opportunities for Sleepwear Market in coming years.

A. Emerging countries such as China and India are expected to grow at a CAGR of 12.2% and 11.0%.

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