Global Sleepwear and Loungewear Market 2020-2024 | Rise in Adoption of Sustainable Manufacturing to Boost Growth | Technavio
LONDON--(BUSINESS WIRE)--Jan 22, 2020--
The global sleepwear and loungewear market size is expected to grow by USD 19.5 billion during the period 2020-2024, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global sleepwear and loungewear market 2020-2024 (Graphic: Business Wire)
Vendors in the market are engaged in innovations with respect to use of raw materials to meet the increasing demand for designer and premium sleepwear and loungewear. There has been a rapid evolution in customers’ tastes and preferences in addition to increasing purchasing power and enhanced fashion consciousness. In addition, vendors are focusing on utilizing sustainable raw materials and technologies to develop quality products that are comfortable and visually appealing. Companies such as Calvin Klein are offering premium sleepwear with innovative designs and advanced features to broaden their product line and expand their customer base. Thus, an increased demand for designer and premium sleepwear and loungewear will drive market growth during the forecast period.
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As per Technavio, rise in adoption of sustainable manufacturing will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2020-2024.
Global Sleepwear and Loungewear Market: Rise in Adoption of Sustainable Manufacturing
Vendors in the market are taking initiatives to adopt sustainable manufacturing processes. This is targeted at minimizing the waste generated during the manufacture of sleepwear and loungewear. For instance, some vendors in the market have partnered with sustainability incubator, Fashion for Good. Thus, the adoption of sustainable manufacturing by vendors in the sleepwear and loungewear market will drive market growth during the forecast period.
“Increase in demand for plus size sleepwear and loungewear will further boost the sleepwear and loungewear market growth during the forecast period”, says a senior analyst at Technavio.
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Global Sleepwear and Loungewear Market: Segmentation Analysis
This market report segments the global sleepwear and loungewear market by product (sleepwear and loungewear), distribution channel (offline and online), and geography (APAC, Europe, MEA, North America, and South America)
APAC led the sleepwear and loungewear market share in 2019, followed by Europe, North America, South America, and MEA respectively due to the increased introduction of global brands and the adoption of premium sleepwear and loungewear in APAC. Furthermore, rising disposable income and changing customer preferences will further drive the market demand during the forecast period.
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Some of the key topics covered in the report include:
Five Forces Analysis
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