Loungewear Market to Hit USD 9.86 Bn at a Growth Rate of 7.96 percent- Says Stellar Market Research

Loungewear Market to Hit USD 9.86 Bn at a Growth Rate of 7.96 percent- Says Stellar Market Research
Loungewear Market
The Loungewear Market size of the North American region is expected to dominate the market during the forecast period. Loungewear Market analysis was conducted by dividing it into material type, end-user, and distribution channel. The bottom-up approach was used to estimate the Loungewear Market size.

Stellar Market Research, a Consumer Goods & Services Business research firm has published a report on the “Loungewear Market”. The total market revenue for the Loungewear Market was USD 4.26 Bn in 2023 and is expected to grow at 7.96 percent CAGR through the forecast period by reaching nearly USD 9.86 Bn.

Loungewear Market Report Scope and Research Methodology

Market Size in 2023   USD 4.26 Bn

Market Size in 2030   USD 9.86 Bn.

CAGR   9.76% (2024-2030)

Forecast Period          2024-2030

Base Year        2023

Number of Pages       284

No. of Tables  114

No. of Charts and Figures      119

Segment Covered      Material Type, End-User and Distribution Channel

Regional Scope           North America, Europe, Asia Pacific, Middle East and Africa, South America

Report Coverage        Market Share, Size & Forecast by Revenue | 2024−2030, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, SMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis.

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Loungewear Market Scope and Research Methodology

The report provides an in-depth analysis of the strategies of the top players in the Loungewear industry with an in-depth analysis of the market segments and regions. A detailed analysis of market dynamics including drivers, restraints, opportunities, and challenges is provided region-wise and segment-wise, in the Loungewear Market report. It also includes figures for import/export consumption, supply and demand, price, cost, revenue, and gross margins which makes it an investor’s guide.

The data for the Loungewear Market report was collected using primary and secondary research methods, which were combined to make the report authentic. The primary research conducted includes the questionnaire distribution, surveys, and phone interviews with Loungewear industry experts, market leaders, marketing professionals, and entrepreneurs. The bottom-up approach has been used to estimate the global and regional Loungewear market size. SWOT analysis was used to provide the strengths and weaknesses of Loungewear’s key players in the industry.

Loungewear Market Overview

The loungewear market is growing, projected to reach over US$ 9.86 billion by 2030. This comfy clothing category, encompassing sweatpants, pajamas, and cozy tees, is fueled by a few key trends. The rise of remote work creates a need for clothes that are both relaxing and presentable for video calls. Our focus on self-care and prioritizing comfort at home has also boosted loungewear sales.  Additionally, the loungewear aesthetic has become more fashion-forward, with retailers offering stylish and elevated takes on cozy clothes. This blend of comfort and style is driving the loungewear market forward.

Loungewear Market Dynamics

In 2023, the cotton segment was the largest and dominated the Loungewear Market, according to SMR research. The dominance of cotton is owed to customer preferences for comfort, breathability, and versatility. Cotton’s natural properties make it a preferred choice for consumers seeking softness and moisture absorption in their loungewear. This aligns with the demands of the target market. Cotton loungewear offers both quality and affordability, making it accessible to a wide range of customers. Its reliability and trustworthiness stem from its sustainable and skin-friendly options, satisfying the demand for such products. Cotton loungewear manufacturers utilize e-commerce, retail stores, and direct-to-consumer sales to reach more customers and offer a variety of options. The appeal of cotton loungewear spans across age groups and genders, contributing to its dominant market share and consistent growth. Strategic market penetration and distribution channels help maintain its accessibility and competitiveness, solidifying its position as a leader in the global loungewear market.

Loungewear Market Regional Insights

The global Loungewear market is experiencing rapid growth, particularly in the North American region, which accounts for the highest market share, while Asia-Pacific, however, is considered to be the fastest-growing market. North America dominates the loungewear market with strong market research, constant demand for comfortable clothing, established brands, and online retail trends. The region’s top position is maintained through a mix of local and international brands, global trade relations, and meeting diverse customer preferences.

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Loungewear Market Segmentation

By Material Type

  • Cotton
  • Wool
  • Silk
  • Others

By End-Users

  • Male
  • Female
  • Kids

By Distribution Channel

  • Supermarkets & Hypermarkets
  • Speciality Stores
  • Online

Loungewear’s Key Competitors include

  • Boohoo Group (United Kingdom)
  • H & M (Sweden)
  • Hanesbrands Inc. (U.S.)
  • Jockey International Inc. (U.S.)
  • Marks & Spencer Group Plc (U.K.)
  • Ralph Lauren (U.S.)
  • Wacoal Holdings Corp (Japan)
  • AEO Manangemnt Co (U.S.)
  • PVH Corporation (U.S.)
  • Victoria’s Secret & Co (U.S.)
  • Triumph International Holding GmBH (Germany)
  • Authentic Brands Group LLC (U.S.)
  • Urban Outfitters (US)
  • Nordstrom Inc. (US)
  • Hanesbrands Inc. (U.S.)
  • L Brands Inc. (U.S.)
  • Bath & Body Works (U.S.)

Key questions answered in the Loungewear Market report are:

  • What is Loungewear?
  • Which market segment held the largest share of the global Loungewear market in 2023?
  • What are the global trends in the Loungewear Market?
  • What are the upcoming industry applications and trends for the Loungewear Market?
  • What are the recent industry trends that can be implemented to generate additional revenue streams for the Loungewear Market?
  • What growth strategies are the players considering to increase their presence in Loungewear Market?
  • Who are the leading companies and what are their portfolios in the Loungewear Market?
  • What are the major challenges that the Loungewear Market could face in the future?
  • Which region held the largest Loungewear Market Share in 2023?

Key Offerings:

  • Past Market Size and Competitive Landscape (2018 to 2022)
  • Past Pricing and price curve by region (2018 to 2022)
  • Market Size, Share, Size & Forecast by Different Segment | 2024−2030
  • Loungewear Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
  • Loungewear Market Segmentation – A detailed analysis by Material Type, End-User, Distribution Channel, and Region
  • Competitive Landscape – Profiles of selected key players by region in a strategic perspective
    • Competitive landscape – Market Leaders, Market Followers, Regional player
    • Competitive benchmarking of key players by region
  • PESTLE Analysis
  • PORTER’s analysis
  • Value chain and supply chain analysis
  • Legal Aspects of business by region
  • Lucrative business opportunities with SWOT analysis
  • Recommendations

Stellar Market Research is leading Consumer Goods and Service Research Firm, has also published the following reports:

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Snow Apparel MarketThe market size was valued at USD 20.35 Bn. in 2023 and is expected to grow at a CAGR of 11.5% from 2024 to 2030, reaching nearly USD 43.6 Bn. by 2030.

About Stellar Market Research:

Stellar Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

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