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The global sleepwear market is expected to grow by 2028 due to the rise in demand for sleepwear from working population. Women sub-segment is predicted to be most dominant. Market in the Asia-Pacific region is expected to have fastest growth rate.
NEW YORK , July 25, 2022 /PRNewswire/ -- Research Dive has added a new report to its offering titled, 'Sleepwear Market by End-user (Women, Men, and Kids), Distribution Channel (Supermarkets/Hypermarkets, Specialty Stores, Convenient Store, and Online), and Regional Analysis (North America , Europe , Asia-Pacific , and LAMEA): Global Opportunity Analysis and Industry Forecast, 2021–2028.'
According to the report, the global sleepwear market is estimated to accumulate a revenue of $22,020.5 million by 2028, growing at a CAGR of 9.9% during the 2021-2028 timeframe.
Dynamics of the Sleepwear Market
Drivers: Growing demand for sleepwear, especially among the working population, is expected to drive the sleepwear market. Also, business strategies like acquisitions, mergers, and collaborations between leading market players is further predicted to boost the market.
Opportunities: Rising popularity of bridal nightwear is anticipated to offer massive growth opportunities to the market. Also, the increasing demand of sleepwear among the working women population is expected to further enhance the growth opportunities.
Restraints: The presence of fake and counterfeit products may however create a roadblock in this growth journey of the sleepwear market.
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Covid-19 Impact on the Sleepwear Market
The Covid-19 pandemic has altered the global economic order in an unprecedented way. Majority of the industries and businesses are reeling from huge losses, while on the other hand, some businesses have miraculously witnessed a growth in their markets. The sleepwear market is one such example which has witnessed a moderate growth in this period, despite the interruption in the working of global supply chains. This growth in the market is mainly attributed to the increase in demand for sleepwear from the general public due to the rise in work-from-home culture.
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Segments of the Sleepwear Market
The report has divided the sleepwear market into a few segments based on end-user, distribution channel, and regional analysis.
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Some significant sleepwear market players are
These players are formulating several business policies like product development and enhancement, merger and acquisition, partnerships and collaborations to gain a leading position in the market. – Buy the full report start at $2999 (Read-only)
For example, in June 2021 , Victoria's Secret, a US-based lingerie company, announced the launch of a new nightwear collections for maternity and nursing. The announcement was specifically done on Mother's Day keeping in mind the customers they were intending to target. This new collection will help Victoria's Secret garner a dedicated customer base which will eventually help in expanding their business.
The report also sums up various crucial facets including financial performance of the key market players, SWOT analysis, product portfolio, and the latest strategic developments.
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