Loungewear Market Insights
According to MRFR analysis, the global Loungewear Market Size is expected to register a CAGR of 9.60% from 2022 to 2030 and hold a value of over USD 11.45 billion by 2030.
The loungewear market refers to the segment of the fashion industry that produces and sells clothing designed for a comfortable, relaxed, and casual wear at home or in a leisure setting. Loungewear typically includes comfortable and loose-fitting clothing such as sweatpants, hoodies, oversized t-shirts, pajamas, and other comfortable clothing styles made from soft and comfortable materials like cotton, silk, or bamboo
The loungewear market has seen a significant surge in recent years, especially with the rise of remote work and increased time spent at home due to the COVID-19 pandemic. This has led to an increase in demand for comfortable and stylish loungewear that can be worn for both work and leisure. As a result, many fashion brands have expanded their loungewear offerings, and new companies have emerged to cater specifically to the loungewear market.
During the pandemic, many people started to work from home, attend virtual meetings, and spend more time indoors. As a result, there has been an increase in the demand for comfortable clothing that can be worn both for work and leisure. the COVID-19 pandemic has accelerated the already-growing trend toward comfortable, functional, and versatile clothing, leading to a significant increase in the demand for loungewear.
Regional Analysis
The North American region is one of the significant markets for loungewear, driven by factors such as the increasing demand for comfortable and stylish clothing, the growing trend of working from home, and the rise of athleisure.
The Asia Pacific region is expected to be the fastest-growing market for loungewear, driven by factors such as the rising demand for comfortable clothing, increasing disposable incomes, and the growing popularity of online shopping in countries such as China and India.
In Europe, loungewear is popular, and many brands offer a wide range of comfortable and stylish loungewear options. However, the market in Europe is highly competitive, and there are many established and emerging players in the market.
Market Segmentation
The Global Loungewear Market has been segmented into Material Type, End User, and Distribution Channel
Based on the Material Type, the market has been segmented into Cotton, Wool, Silk, and Others.
Based on the End User, the market has been segmented into Females, Males, and Kids.
Based on the Distribution Channel, the market has been segmented into Store-Based and Non-Store-Based.
Key Players
Some of the key market players are L Brands Inc, H&M, Triumph International Holding, Authentic Brands Group, Urban Outfitters, Nordstrom Inc, Hanesbrands Inc, Jockey International Inc, Marks & Spencer Group, and PVH Corporation.
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