Sleepwear Market Overview
The sleepwear segment was worth $11.5 billion in 2022 and is anticipated to grow at a CAGR of 9.7% from 2023 to 2030, reaching $21.9 billion by 2030.
Sleepwear is clothing that is intended to be worn while sleeping. The dynamic fashion trend and its impact on customers are credited with driving the development of the sleepwear market. Consumers are anxious to catch up with the latest trend and show off their fashionable lifestyle. This rush to keep up with the shifting fashion trend is expected to inspire people to buy the latest fashion styles, particularly those worn by celebrities, and also to reject phased-out clothes subtly. Fashion trends have been more daring in recent years, encouraging consumers to use their innerwear as casual loungewear or even sleepwear, boosting the sleepwear market.
Furthermore, the growing need for fashionable nightwear has prompted companies to introduce new goods to meet customer demand. Furthermore, demand for these clothes among adults has increased significantly, particularly among women, who spend a significant amount of money on this type of clothing. Furthermore, these garments are not only fashionable but also pleasant to wear, contributing significantly to the global market's growth.
Sleepwear, often referred to as nightwear or nightclothes, is clothing designed to be worn while sleeping. The type of nightwear used fluctuates with the seasons, having hotter varieties worn in colder areas and vice versa.
Sleepwear Market Outlook has practical goals; a few styles or materials have been chosen to be pleasing or appealing on the outside. This pattern encourages sleepwear manufacturers and establishments to improve their products and services. Nonetheless, the availability of counterfeit goods is a fundamental constraint of the global market. Surprisingly, the presenting stretchy and quick-drying material is projected to provide enormous freedoms for the sleepwear market's development.
By Distribution Channel:
- Discount Stores
North America was the most important market by region in 2019. During the projection period, though, Asia-Pacific is estimated to rise at a faster CAGR. Increased disposable income, as well as the impact of western economies on lifestyle and apparel, have contributed to the expansion of this regional category.
Key sleepwear market players are includes –
- Jockey International (US)
- PVH Corporation (US)
- Triumph International (Switzerland)
- MAS Holding (Sri Lanka)
- Sleepy Jones. (US)
- Victori’s Secret & Co. (US)
- American Eagle Outfitters Inc. (US)
- Marks & Spencers (UK)
- Hanky Panky Ltd (US)
The sleepwear industry is mostly driven by online shopping platforms. This is attributed to the reason that most intimate wear manufacturers now get their web-based retail locations wherein customers can get a wealth of information on the newest fashion trends as well as material/fabric-related data. Furthermore, the number of individuals purchasing online is fast expanding owing to the huge selection of product options and simplicity of price comparison on internet shopping. This is advantageous to businesses because no money has been spent on actual storefronts or showrooms.
Consumers enjoy online shopping for a variety of reasons, including the ability to read reviews from other customers, compare different businesses and products, as well as compare product prices from multiple sellers. Every one of these aspects has combined to fuel the international sleepwear market's expansion. The market is growing as the economy improves and disposable income increases.
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