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The global sleepwear industry is expected to see an improvement in expanding the production of new products with appealing packaging and spending more on product advertising. Due to companies introducing the latest transitional sleepwear products (one that doubles as loungewear and nightwear) that are expected to inspire customers and encourage them to spend more on sleepwear products, key players in the sleepwear market are expected to see growing demand for sleepwear throughout the forecast period. As a result, manufacturers are working on acquisitions, expansions, and cooperation with upstart enterprises to achieve considerable market share.
One of the key drivers of the sleepwear market is the rising preference for online shopping platforms. This is due to the fact that most intimate wear manufacturing businesses now have their own web-based retail sites where buyers can obtain a wealth of information about the newest design trends as well as material/fabric-related information. Furthermore, the number of customers purchasing online is rapidly increasing, owing to the availability of diverse product selections and quick price comparison on online shopping sites. This is advantageous for merchants since it eliminates the need for physical stores or showrooms. All of these reasons have led to the global sleepwear industry’s expansion.
The COVID-19 pandemic also aided the growth of sleepwear in the market as people started demanding sleepwear more than ever, especially since 2020, as they started working from home during lockdown and isolation periods under the ‘work from home’ work structure. They started wearing sleepwear for the whole time, which catered to the demand and also compelled the manufacturers to increase their production in order to meet the booming demand. The leading companies of sleepwear like American Eagle Outfitters Inc. (NYSE: AEO) and DECATHLON, among others, increased the production to meet the rising demand across the globe.
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The major players in the global market for sleepwear are Berkshire Hathaway Inc., American Eagle Outfitters, Inc., DECATHLON S.A., and Jockey International, Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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