Loungewear Market to Eyewitness Huge Growth by 2027 | Jockey International, Decathlon, Hanesbrands, Authentic Brands

The recent research publication on Loungewear Market: Current market provides insights about evolution of the competitive environment, the lifecycle stage and opportunities. The survey with Loungewear Market: Current investors & stakeholders in this sector, from APAC, EMEA and the Americas, reveals information such as large-scale projects with regulatory factors by country, subsidies, tax incentives and direct investment. Along with this activity comes a stream of Loungewear Market: Current M&A activity and growth, as producers strive to stay ahead of the curve. Some of the established and new companies profiled in the study are Decathlon, Hanesbrands Inc., Jockey International Inc., Marks & Spencer Group Plc, PVH CORPORATION, H & M, Triumph International Holding GmBH, Authentic Brands Group LLC, Urban Outfitters, Nordstrom, Inc., etc.,

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Summary
Loungewear is defined as comfortable and casual clothing that is versatile for relaxing, working from home, or venturing out for an indulgent brunch. This type of clothing can be worn to sleep but it is primarily intended for lounging around the house and occasionally being worn outside. The key factors attributed to the growing market of loungewear 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 loungewear category, driven by greater lifestyle consciousness and aspirations.

The offering of stylish and newly designed loungewear by companies owing to the growing demand from women is also contributing to the growth of the market. As per a survey by YouGov, 33% of women said that they prefer their PJs to have pockets, while a further 30% don’t mind one way or the other.

Also, the COVID-19 pandemic accelerated the global loungewear market. In 2020, Retailers have witnessed a sudden jump in consumer demand compared to 2019. Loungewear had gained acceptance much before the pandemic took over, but the demand skyrocketed globally after the lockdowns. Online shopping sales site lovethesale.com has reported that loungewear witnessed a 433% jump in consumer demand as early as April 2020 in the UK alone. Also, as per Groversons Paris Beauty, We have observed a growth of around 18% in our loungewear segment in Aug.-sept 2020

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Based on the material, the market is fragmented into wool, cotton, silk, and others. The cotton segment captured XX% market share in the Loungewear Market in 2020 and dominated the market. The market share of this segment is proliferating on account of the properties such as Cotton fabric is breathable and transmits moisture away from the body and is absorbent and removes liquid from the skin. However, the silk segment would witness a considerable CAGR in the forthcoming years.

Based on the distribution channel, the market is fragmented into supermarkets or hypermarkets, Speciality stores, online, and Others. The hypermarket/ supermarket segment grabbed major market share and dominated the market. The segment captured XX% market share in 2020.

A rise in the number of hypermarkets/supermarkets is leading to the growth of the segment. However, the online segment would register the highest CAGR during the forthcoming years owing to the surging internet penetration and reach of e-commerce companies in developing and underdeveloped areas.

Based on the end-user, the market is fragmented into male, female, and Kids. The female segment captured XX% market share in the Loungewear Market in 2020 and dominated the market. The availability of high-quality modern clothing at reasonable prices for women, However, the men's segment would witness a sharp rise in the forthcoming years owing to the rising popularity among men and the launch of attractive loungewear specifically for men.

For a better understanding of the market adoption of the Loungewear Market, the market is analyzed based on its worldwide presence in the countries such as North America (the United States and Canada), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea and Rest of APAC), and Rest of World. North America constitutes a major market for the Loungewear industry and generated revenue of USD XX Million in 2020 owing to the increase in the disposable income of consumers coupled with the presence of numerous brands in the region.

Some of the major players operating in the market are Decathlon, Hanesbrands Inc., Jockey International Inc., Marks & Spencer Group Plc, PVH CORPORATION, H & M, Triumph International Holding GmBH, Authentic Brands Group LLC, Urban Outfitters, Nordstrom, Inc., etc., Several M&As along with partnerships have been undertaken by these players to develop loungewear.

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1 MARKET INTRODUCTION
1.1. Market Definitions
1.2. Limitation
1.3. Stake Holders
1.4. Currency used in Report
2 RESEARCH METHODOLOGY OR ASSUMPTION
2.1. Research Process of the Loungewear Market
2.2. Research Methodology of the Loungewear Market
2.3. Forecasting Method
2.4. Respondent Profile
2.5. Main Objective of the Loungewear

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