New York, USA, April 06, 2022 (GLOBE NEWSWIRE) -- According to the report published by Research Dive, the global sleepwear market is expected to generate a revenue of $22,020.5 million by 2028, growing rapidly at a CAGR of 9.9% during the forecast period, 2021-2028. The inclusive report provides a brief overview of the current scenario of the market including significant aspects of the market such as growth factors, challenges, restraints, and various opportunities during the forecast period. The report also provides all the market figures making it easier and helpful for the new participants to understand the market.
Dynamics of the Sleepwear Market
Drivers: Increasing demand for bridal nightwear among people across the globe is expected to drive the growth of the market during the forecast period. In addition, rising penetration of online shopping of sleepwear among people is further expected to bolster the growth of the sleepwear market during the forecast period.
Restraints: Availability of counterfeit products is expected to hinder the growth of the market during the forecast period.
Opportunities: Growing demand for comfortable night wear among working population of women across the globe is expected to create ample opportunities for the growth of the sleepwear market during the forecast period.
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COVID-19 Impact on the Sleepwear Market
The outbreak of COVID-19 has had a moderate growth on the growth of the global sleepwear market, owing to the prevalence of lockdowns in various countries across the globe. Lockdowns led to a large-scale closure of various manufacturing units and factories across the globe due to the stringent social-distancing restrictions imposed by the government during the pandemic. This led to the disruption in supply chain and manufacturing capacity of the clothing industry. But considerable increase in the demand for comfortable nightwear for people working from home is one of the factors that has driven the growth of the market during the pandemic.
Segments of the Sleepwear Market
The report has divided the sleepwear market into various segments based on end-user, distribution channel, and region.
End-User: Women Sub-segment to be Most Profitable
The women sub-segment is expected to generate a revenue of $12,595.7 million during the forecast period. Availability of different nightwear for women across all age groups along with the growing prevalence of premium nightwear from top brands are expected to stimulate the growth of the sleepwear market sub-segment during the forecast period.
Distribution Channel: Supermarkets/Hypermarkets Sub-segment to be Most Lucrative
The supermarkets/hypermarkets sub-segment is expected to garner a revenue of $9,028.4 million during the forecast period. Availability of affordable sleepwear products from a diverse range of products under the same roof is expected to drive the growth of the sub-segment during the forecast period.
Region: North America Region to Dominate the Global Sleepwear Market
The North America region is expected to register a revenue of $9,402.8 million during the forecast period. Growing demand for different types of comfortable nightwear in this region is expected to bolster the growth of the market during the forecast period. In addition, presence of leading players of the market in this region is further expected to accelerate the growth of the regional sleepwear market during the forecast period.
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Key Players of the Sleepwear Market
The major players of the market include
- Jockey International, Inc.
- PVH CORPORATION
- MAS Holdings Ltd.
- L Brands Inc.
- Triumph International Holding GmBH.
- Berkshire Hathaway Inc.
- the Chantelle Group
- American Eagle Outfitters, Inc. (AERIE)
- Hanky Panky Ltd.
- Hanesbrands Inc.
These players are working on developing strategies such as product development, merger and acquisition, partnerships and collaborations to sustain the market growth.
For instance, in October 2021, Rifle Paper Co., a dominant Florida-based international stationery and lifestyle brand collaborated with Summersalt, a sustainable nightwear brand, in order to introduce a limited-edition collection of sustainable sleepwear that includes pyjama sets, robs, and slip dresses.
Furthermore, the report provides other vital details of foremost players such as business tactics, financial performance, and product/service range along with Porter’s five forces analysis and SWOT analysis.
Sleepwear Market Research Report Overview & Full TOC
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