Market Overview
Global Loungewear Market size is projected to be valued at USD 9.23 Billion by 2027 at a CAGR of 9.5% between 2020 and 2027. Loungewear market is casually styled sleepwear or loose-fitting cloth suitable for relaxing around the house or can also be used as an outfit. The demand for loungewear is increasing as people are opting for comfortable and presentable clothes. The convenience and ease of accessibility are some of the major factors that are pulling the market development. Furthermore, loungewear market is easily available to consumers belonging to all social-economical groups. Also, product launches by manufacturers are also expected to drive the demand for loungewear during the forecast period. For instance, in December 2020, L’Agence, a California-based company, launched a luxury loungewear market collection named Lux Lounge. This loungewear market offers nine styles in six different colorways, priced between USD 150 to 220.
Key Players
L Brands Inc. (US)
Hanesbrands Inc. (US)
Jockey International Inc. (US)
Marks & Spencer Group Plc (UK)
PVH CORPORATION (US)
H & M (Sweden)
Triumph International Holding GmBH (Germany)
Authentic Brands Group LLC (US)
Urban Outfitters (US)
Nordstrom, Inc. (US)
Market Segmentation:
Media Promotion and Celebrity Endorsements: Promotion plays a vital role in increasing the sales of loungewear market, and celebrity endorsements influence consumer buying decisions to a great extent. Manufacturers of loungewear are tapping into the wide fan base of celebrities to gain more customers and raise awareness about their products. For instance, Luke Bryan, a singer and songwriter, and his wife Caroline Bryan are brand ambassadors for Jockey International Inc. in their new campaign named “There’s Only One Jockey.” Thus, the promotion of loungewear market by celebrities on social media helps market players expand their customer base and increase sales, consequently driving the growth of the global loungewear market during the forecast period.
Non-Store-Based Distribution Channels Gaining Popularity Across the Globe: The non-store-based segment includes e-commerce, wherein manufacturers distribute oral care products through various online shopping sites and/or their websites. Companies face difficulties in reaching consumers in different parts of the world through brick-and-mortar stores. Thus, e-commerce channels enable companies to cater to the consumer’s needs and expand brand presence. Additionally, this mode of distribution also helps manufacturers showcase their wide variety of products available.
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Loungewear can be worn in the yoga class, park, gym, beach, or anywhere where one need not be formal.
Demand for loungewear spans virtually all age groups and markets, not only because it is trendy but is comfortable and brings style to every situation.
Pajamas and nightgowns are good for sleeping; for the beach, cover ups and tap pants are cool to be worn over a bikini or bathing suit; and drawstring pants can be worn while relaxing, walking outdoors, or at yoga or gym.
Free Sample Report + All Related Graphs & Charts @ : https://www.advancemarketanalytics.com/sample-report/160095-global-loungewear-market Latest released the research study on Global Loungewear Market offers a detailed overview of the factors influencing the global business scope.
Loungewear Market research report shows the latest market insights with upcoming trends and breakdown of the products and services.
The report provides key statistics on the market status, size, share, growth factors, Challenges and Current Scenario Analysis of the Loungewear Market.
