Dublin, May 29, 2023 (GLOBE NEWSWIRE) -- The "Global Bridal Market Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The bridal Wear Market size was USD 10.5 Billion in 2021 and is expected to reach USD 15.82 Billion by 2027, growing at a CAGR of 5.63% between 2022 and 2027.
Companies Mentioned
- Allure Bridals Inc.
- Elie Saab
- Helen Rodrigues Bridal
- David's Bridal Inc.
- JLM Couture Inc.
- Klienfeld Bridal
- Justin Alexander Limited
- Macy's Inc.
- Monique Lhuillier
- Morilee LLC.
The global bridal wear market is being driven primarily by a rise in demand for various styles of wedding gowns and tuxedos as part of royal weddings. Furthermore, the rise in customized and innovative designs provided by fashion designers has significantly aided the expansion of the Bridal Wear Market.
Given the extremely faddish fashion trends that dictate the market's fortunes, the bridal wear market is highly polarized and fragmented regionally. The developed world dominates the global market because they are the pioneers in bridal wear fashion and have a constantly evolving and vibrant fashion industry.
Market Drivers
Increased urbanization and fashion upgrades, increased disposable income, technological advances, local player entry, and increased luxury weddings are some of the factors driving the bridal market's growth.
People are interested in the latest trends in designer brands worn by celebrities, and companies such as Manyawar are investing heavily in developing the same fashion fabrics at a low cost, which is driving the market demand for bridal wear.
Emerging countries like China, India, Bangladesh, and Pakistan are quickly adopting Western culture at wedding receptions. Various traditions around the world require you to change multiple dresses on your wedding day.
In India or Chile, for example, a marriage between casts requires the couple to respect their spouse's tradition by marrying at two ceremonies on the same day. This necessitates changing the entire wedding attire. Such a tradition that necessitates multiple wedding costumes is expected to increase product demand and drive market growth over the forecast period.
Market Restraints
The high cost of bridal wear is a significant challenge for the market. Bridal gowns are generally more expensive than other types of clothing.
This is because expensive fabrics and embellishments were used. As a result, the majority of the population cannot afford bridal wear, impeding the market growth. The issue confronting the bridal wear market is a general lack of awareness. Many people in developing and underdeveloped countries are unaware of the latest bridal fashion trends. This is due to a lack of global market exposure.
As a result, the market is having difficulty entering these markets. Another significant impediment to the bridal wear market is the presence of counterfeit products. Numerous counterfeit products on the market are made with inferior-quality materials. This harms the brand's reputation and results in revenue loss.
The bridal wear market is highly volatile. Bridal wear demand is generally seasonal and is influenced by a variety of factors such as weddings, festivals, and other social events. As a result, the market is highly volatile, with abrupt changes in demand.
Market Segmentation
Product
- Gown Suit/Tuxedo
- Traditional Wear
- Others
Distribution Channel
- Online
- Offline
Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and South Africa
For more information about this report visit https://www.researchandmarkets.com/r/bchyzx
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