Loungewear Market

• Increased demand for stylish and contemporary sleepwear to boost the market growth

People are rushing to adopt current fashion trends that encourage them to buy new clothing, notably worn by celebrities and fashion influencers. The current fashion trends subtly discard outmoded clothing. These trendsetters encourage individuals to develop their innerwear or sleepwear as casual wear, which fuels the growth of the sleepwear industry. Today's fashion trends are going bold and classic, which stands out from the line. For instance, Calvin Klein by PVH has a broad selection of sleepwear in various designs, hues, and sizes.

Ordinary sleepwear and loungewear are more expensive than products with cutting-edge features and creative designs, encouraging product premiumization and line expansion. This is anticipated to accelerate the loungewear market's expansion during the projected period.

Additionally, a growing loungewear market for fashionable sleepwear motivates businesses to launch new attractive items that satisfy consumer demand. In addition, women in the adult age group are the primary consumers of these items since they select and spend more money on certain types of clothing. Additionally, the fact that this kind of clothing is both stylish and comfy aids in the loungewear market expansion. Because of this, sales of minimizer lingerie have surged, which is the foundation for other clothing.

As these goods are made in a way that appeals to their sense of fashion and looks beautiful on women with larger body proportions, plus-size sleepwear and loungewear are now becoming more popular among women who are overweight or obese.

Furthermore, Hanesbrands provides a broad selection of plus-size loungewear and sleepwear under Maidenform and Just My Size. The colors of sleepwear and loungewear vary because people choose these items depending on the situation. The U.S. has the world's largest loungewear market for sleepwear and loungewear, and plus-size options are particularly popular there. The popularity of these goods is being fueled by the over 40% obesity rate among the U.S. population in 2018, which includes all age categories. Additionally, retailers promote plus-size loungewear and sleepwear worldwide by utilizing plus-size models.

The competition to provide cozy and fashionable clothing for men, women, and children is expected to generate decent loungewear market revenue. To preserve their market share, the major manufacturers are introducing fresh styles of cozy loungewear.

The Global Loungewear Market Industry is on a trajectory of substantial growth, with projections indicating a market value of 21.0 USD Billion by 2035. This remarkable increase underscores the rising popularity of loungewear as a staple in modern wardrobes. The anticipated compound annual growth rate (CAGR) of 10.16% from 2025 to 2035 suggests that the market will continue to expand as consumer preferences evolve. Factors such as increased disposable income, changing lifestyle habits, and the ongoing demand for comfort-driven apparel contribute to this growth. As brands adapt to these trends, the loungewear market is likely to witness further innovations and product developments.

The Global Loungewear Market Industry experiences a notable increase in demand for comfortable clothing, driven by a shift in consumer preferences towards relaxed and casual attire. This trend is particularly evident as individuals seek versatile garments suitable for both home and outdoor activities. The market is projected to reach 7.23 USD Billion in 2024, reflecting a growing inclination towards loungewear. This demand is further fueled by the rise of remote work and a more casual lifestyle, which encourages consumers to invest in comfortable yet stylish clothing options. As a result, brands are expanding their loungewear collections to cater to this evolving consumer behavior.

The Global Loungewear Market Industry benefits from the rapid expansion of e-commerce platforms, which facilitate convenient shopping experiences for consumers. Online retailing allows brands to reach a global audience, breaking geographical barriers and providing access to a wider range of loungewear options. This trend is particularly relevant as consumers increasingly prefer online shopping due to its convenience and variety. The growth of e-commerce is expected to contribute significantly to the market's expansion, with projections indicating a compound annual growth rate (CAGR) of 10.16% from 2025 to 2035. As more consumers turn to online platforms, brands are likely to enhance their digital presence to capture this growing segment.

Sustainability has emerged as a pivotal driver in the Global Loungewear Market Industry, as consumers increasingly prioritize eco-friendly products. Brands are responding by adopting sustainable practices, such as using organic materials and implementing ethical manufacturing processes. This shift aligns with the growing awareness of environmental issues and the demand for transparency in the fashion industry. Companies that emphasize sustainability are likely to attract a conscientious consumer base, potentially leading to increased market share. As the market evolves, the integration of sustainable practices may become a standard expectation rather than a differentiating factor, influencing purchasing decisions and brand loyalty.

The Global Loungewear Market Industry is characterized by a diverse range of product offerings, catering to various consumer preferences and lifestyles. Brands are increasingly focusing on customization options, allowing consumers to personalize their loungewear choices. This trend not only enhances customer satisfaction but also fosters brand loyalty, as consumers feel a stronger connection to products that reflect their individual styles. The availability of various styles, colors, and fabrics enables consumers to select loungewear that suits their unique tastes. As the market continues to evolve, the emphasis on diversity and customization may play a crucial role in attracting and retaining customers.

The Global Loungewear Market Industry is significantly influenced by social media platforms and celebrity endorsements, which play a crucial role in shaping consumer preferences. Influencers and celebrities often showcase loungewear in their daily lives, creating aspirational content that resonates with their followers. This visibility drives consumer interest and encourages purchases, as individuals seek to emulate the styles of their favorite personalities. The impact of social media marketing is evident in the rapid growth of loungewear brands, which are leveraging these platforms to reach wider audiences. Consequently, this trend is likely to continue propelling the market forward, as brands invest in digital marketing strategies.

By region, the study provides market insights into North America, Europe, Asia-Pacific and the Rest of the World. Asia Pacific loungewear market accounted for USD 2,518 million in 2021 and is expected to exhibit a significant CAGR growth during the study period. Due to the promotional efforts of the leading manufacturers, Asia Pacific now has the largest portion of the loungewear market. This element influences how well clients are informed about new product launches. Industrial companies concentrate on the local loungewear market and develop plans to gain the largest share value.

Further, the major countries studied in the market report are The U.S., Canada, Germany, France, the U.K., Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 3:  LOUNGEWEAR MARKET SHARE BY REGION 2021 (%)Source: Secondary Research, Primary Research, Market Research Future Database and Analyst Review

Significant growth is seen by North America loungewear market. All these important regions will aid the expansion of the worldwide market. Because luxury loungewear is becoming increasingly well-liked in a growing and densely populated nation, shortly, these variables will accelerate the expansion of the market.  Research indicates that 22% of all Americans—or 36.2 million—will work remotely by 2025. The market revenue is increasing due to the rising work-from-home culture trend, fueling demand for loungewear. Further, the U.S. loungewear market held the largest market share, and the Canada loungewear market was the fastest growing market in this region

Throughout the forecast period, the Europe loungewear market is anticipated to expand its revenue at a modest rate. The government of the United Kingdom's guidance on working from home has already altered fashion labels and purchasing practices. In 2020, when frequent Coronavirus lockdowns were enacted in the U.K. loungewear market sales surged by 1,303%. As a result of the announcement in reaction to the new Omicron Covid version, purchases of men's loungewear climbed by 50% in 2021.

Additionally, the Germany loungewear market is anticipated to continue to sustain revenue growth to some level due to the rising popularity of working from home.

Major market players are investing a lot of money in R&D to broaden their product portfolios, which will spur further expansion of the industry. With significant industry changes, including new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market developments are also undertaking various strategic activities to expand their presence. To grow and thrive in a climate where competition is fierce, and the market is growing, competitors in the loungewear industry sector must provide affordable products.

Manufacturing locally to cut operating costs is one of the main business methods manufacturers use in the loungewear industry to benefit customers and develop the loungewear industry. The sector has recently given medicine some of the most important advantages.

The loungewear market major player such as L Brands Inc. (U.S.), H & M (Sweden), Triumph International Holding GmBH (Germany), Authentic Brands Group LLC (U.S.), Urban Outfitters (US), Nordstrom Inc. (US), Hanesbrands Inc. (U.S.), Jockey International Inc. (U.S.), Marks & Spencer Group Plc (U.K.), PVH CORPORATION (U.S.), and others are working on expanding the industry demand by investing in research and development activities.

H & M Fast-fashion clothes for men, women, teens, and kids are the main emphasis of Hennes & Mauritz AB, often known as the H&M Group or just H&M, an international apparel company with its headquarters in Sweden. As of 23 June 2022, H&M Group operated 4,801 shops under its different corporate names in 75 geographic areas. Simone Rocha, a designer from Ireland and the daughter of fashion mogul John Rocha, joined forces with another designer in March 2021.

Simone often participates in London Fashion Week and was honored with the title of "Womenswear Designer of the Year" at the 2016 British Fashion Awards. Tyler Mitchell's marketing film for H&M demonstrates the femininity of Rocha's designs, which are well known for it.

Also, American brand management firm with its main office in New York City is Authentic Brands Group LLC (ABG). Its assets include a variety of sporting, entertainment, and fashion brands, for which it collaborates with other businesses to get licensing and products. In addition to owning the likeness rights or estates of famous people like Muhammad Ali, Elvis Presley, and Marilyn Monroe, ABG also controls more than 50 consumer brands. ABG filed in July 2021 for a potential initial public offering of about US$1.5 billion.