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Global Sleepwear Market to Grow at a CAGR of 9.7% During the Forecast Period of 2022-2027, Driven by Supply Chain Manufacturing

According to a new report by EMR titled, ‘Global Sleepwear Market Report and Forecast 2022-2027’, the global sleepwear industry stood at a value of about USD 9.78 billion in 2020. The market is further expected to grow at a CAGR of 9.7% in the forecast period of 2022-2027.

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.

Market Analysis by End User, Distribution Channels, and Region:

  • The market based on end-user can be divided into men, women, and kids.
  • The distribution channels for sleepwear include online, supermarket/hypermarket, and discount sales, among others.
  • The regional markets for sleepwear include North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa.

Key Findings of the Report:

  • The rising demand for trendy and stylish outfits and nightwear is augmenting the industry's growth.
  • The rise in supply chain manufacturing and attractive packaging is also aiding the industry's growth.
  • Adoption of sustainable manufacturing by the suppliers will aid in the expansion of the sleepwear industry.
  • The ongoing pandemic has propelled the market for sleepwear by raising the demand in the sector as the preference for comfort wear has increased.
  • Technological advancements and innovations are aiding the growth of the sleepwear industry.

Key Offerings of the Report:

  • The EMR report gives an overview of the global sleepwear market for the periods (2017-2021) and (2022-2027).
  • The report also offers the historical (2017-2021) and forecast (2022-2027) markets for end-users, distributional channels, and regions of the sleepwear industry.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

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.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium-sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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