Sleepwear Market Growth Opportunities, Future Challenges and Forecast to 2021-2027 | DECATHLON S.A., L BRANDS INC And A Berkshire Hathaway Inc.
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Sleepwear is an appeal that is worn while sleeping. The key factors attributed to the growing market of sleepwear are the increase in the buying power and disposable income among consumers in Tier II, III towns and cities and even in smaller pockets has caused an uptick in spending patterns. As per a report by Kearney, during 2006 and 2017, smaller cities received 5x more investments than tier 1 cities in the retail sector. Moreover, Consumers are increasingly exploring the sleepwear category, driven by greater lifestyle consciousness and aspirations, With the gradual development of social media and people having access to more content, information on essential sleepwear is out there
The COVID-19 pandemic accelerated the growth rate of the sleepwear market. Ethnic wear brand Biba has launched its range of sleepwear and loungewear recently and so did fashion label Sarah & Sandeep with its one-of-a-kind drop, ‘SOPOR’ – a fresh take on a multi-utility sleepwear collection for men and women. Others like Marks & Spencer and Shoppers Stop (which registered a sharp rise by 127% through its online channels, with customer inclination towards categories like athleisure, comfort wear, loungewear, and sleepwear) added a separate section offering loungewear and sleepwear for men, women, and children.
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The Sleepwear Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
By Product Type, the market is primarily bifurcated into
• Top Wear
• Bottom Wear
• Night Dress & Gowns
• Sleepwear Set
The sleepwear set gathered a major market share of the Sleepwear in 2020 and grabbed XX% market share. The market of this segment is expected to witness robust growth due to the growing demand and popularity among millenniums.
By Material Type, the market is primarily bifurcated into
• Others (Rayon, Polyester, Blend, Etc.)
The cotton segment grabbed the major market in 2020. The key factors attributed to the growing share of this segment are the properties of cotton such as to properties such as Absorbent, Breathable, Hypoallergenic, Non-toxic, and High wet modulus (stronger when wet). However, the other segment would witness a sharp rise in the forthcoming years.
Sleepwear Market Geographical Segmentation Includes:
• North America
• Rest of the World
Based on the estimation, the North America region grabbed a major market share in 2020. The demand for Sleepwear in North America is on the rise due to the rise in disposable income. As per OCED, the household disposable income in Canada increased from 2.1% in 2019 to 7.3% in 2020.
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The major players targeting the market includes
• DECATHLON S.A.
• L BRANDS INC
• A Berkshire Hathaway Inc.
• American Eagle Outfitters, Inc.
• Hanesbrands Inc.,
• Jockey International, Inc.
• Triumph International Holding GmBH.
• Hanky Panky Ltd.
• PVH Corporation
• MAS Holdings Ltd.
The degree of competition among prominent regional companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Sleepwear market. The leading players have been analyzed by using research methodologies for getting insight views on global competition.
Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the Sleepwear Market?
• Which factors are influencing the Sleepwear Market over the forecast period?
• What are the global challenges, threats, and risks in the Sleepwear Market?
• Which factors are propelling and restraining the Sleepwear Market?
• What are the demanding global regions of the Sleepwear Market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
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