Loungewear Market : Important Changes In Market Dynamics 2019 - 2027
Loungewear is comfortable clothing that can be worn inside and outside the home. Loungewear is often considered as home wear; however it is not just restricted to camisoles and fitted tees, nightgowns, cover ups, drawstring and tap pants, and pajamas. 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.
The loungewear market is anticipated to expand at a steady pace and will continue to do so during the forecast period, as loungewear is the combination of comfort and versatility. They have turned a casual style statement into an attractive and reasonably affordable wardrobe option, and are integrating into everyday style choices. Loungewear is casual lifestyle outfits appropriate for both women and men who sweat a lot and prefer comfortable attire rather than sweat suits and sleepwear.
Both female and male consumers are embracing the trend of loungewear as one can dress up to lounge around the house, alone or with friends, and these can also be worn while sleeping. Consumers are not inclined to spend on an item that’s purely sleepwear, and hence loungewear is viewed as a new dimension of casualwear. Bestselling loungewear includes camisole tops and fitted tees with a strong fashion emphasis and streamlined bottoms, offered with solid or printed jersey or classic woven cotton.
The global loungewear market is segmented based on material, application, distribution channel, and region. In terms of material, the loungewear market is segmented into cotton, wool, and silk. The cotton material segment is anticipated to grow at a fast pace as consumers are increasingly opting for loungewear which is light & comfortable. Based on application, the loungewear market is segregated into men, women, and kids. The market is expected to be dominated by women as they like loungewear because it is comfortable and comes in stylish designs. Furthermore, in terms of distribution channel, the loungewear market is categorized into hypermarkets/supermarkets, specialty stores, mono brand outlets, online retailers, and others (departmental stores,independent vendors).
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Based on region, the global loungewear market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is anticipated to dominate the global market closely followed by Europe. American lifestyles tend to tilt toward casual wear and loungewear offers a good choice. Germany is expected to show the fastest growth rate in the Europe region due to rising preference toward loungewear. Asia Pacific comprising China, India, and Japan is anticipated to expand at a fast pace owing to the increase in birth rates, along with the rise of luxury brands entering the region. China is anticipated to show fastest growth due to rise in number of retail stores, followed by India.
The loungewear market is highly fragmented with the presence of various players. Some of the leading manufacturers in the market are Jockey International Inc., Hanesbrands Inc., PVH Corporation, LBrands, Inc., LVMH Moet Hennessy Louis Vuitton SE, Marks & Spencer Group Plc, and Kering S.A. among others. Manufacturers are increasing R&D capability to raise the range and functions of the designs such as cozy colors and floral patterns, and are also making efforts to enhance product quality. The increasing level of fashion consciousness has supported loungewear to move into the higher bracket in the clothes market.
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