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

Global Sleepwear Market Analysis

The global sleepwear market size is predicted to garner $22,020.5 million in the 2021–2028 timeframe, growing from $10,615.4 million in 2020, at a healthy CAGR of 9.9%.

Market Synopsis

Strategic alliances among market players, along with growing demands for sleepwear across the globe, are expected to accelerate the growth of the sleepwear market.

However, high cost of sleepwear and availability of fake products in the market are some of the growth-restricting factors for the market.

According to the regional analysis, the Asia-Pacific sleepwear market size is anticipated to grow during the review period and generate a revenue of $4,734.4 million, with CAGR of 11.0% due to increasing adoption of trendy nightwear in the region.

Sleepwear Overview

Sleepwear is also called nightwear which is cloth worn for sleeping. Sleepwear is available in different styles for hot and cold climates. Some of the nightwear includes nightgowns, nightcap, baby doll, night shirts, pajamas, shorts, underwear, and more. Nightwear is designed in such a way that it offers utmost comfort with its fabric material.

Covid-19 Impact on Sleepwear Market Shares

The novel coronavirus pandemic severely affected several industries. The global sleepwear market experienced a notable moderate growth during this period. Disruption in manufacturing capacity and supply chain during the COVID-19 period is one of the factors that might have affected the market for sleepwear. However, the growth of the market is owing to demand for nightwear as most of the people are working from home and therefore demand for comfortable cloths has increased throughout the pandemic. The above-stated factors show that the pandemic may have affected the market moderately and it will ultimately bring the sustainable opportunities for sleepwear market in the coming years.

Increasing Prevalence of Bridal Nightwear to Surge the Market Growth

The global sleepwear industry is witnessing a massive growth mainly due to increasing demand for bridal sleepwear across the globe. Also, now-a-days, newlyweds are preferring trends of silk gowns and nighties for honeymoons driving the global sleepwear market. Furthermore, growing penetration of online shopping of sleepwear globally is one of the factors that may fuel the growth of the global sleepwear market.

Furthermore, sleepwear industry players are adopting innovating strategies to attract customers. For instance, LK Bennett, UK based fashion brand company, currently announced that they have launched new bridal wear collection on their website. These types of factors are predicted to drive the growth of the market.

To know more about global sleepwear market trends, drivers, get in touch with our analysts here.

Presence of Counterfeit Products to Restrain the Market Growth

The availability of fake products in the market is one of the major restraining factors for global sleepwear market. Also, some of the sleepwear such as night suits are very costly as they have expensive fabric. These are some of the factors anticipated to hinder the market value of the sleepwear in the next few years.

Growing Demand for Sleepwear from Working Women Population to Create Massive Investment Opportunities

The global sleepwear market is spreading at a very fast pace due to increasing demand for sleepwear among the working population of women across the globe. Moreover, in modern and busy lifestyle, people are busy with their work and therefore they need comfortable night wears. All such factors are positively affecting the sleepwear market growth.

Furthermore, sleepwear industry already has leading market players innovating strategies to attract customers. For example, in June 2021, Victoria's Secret, US based Lingerie company, announced that they have launched new nightwear collections on Mother’s Day for maternity and nursing. All such types of innovations and strategic alliances will accelerate the overall sleepwear market and it will bring lucrative market opportunities for key players in the upcoming years.

To know more about global sleepwear market trends, opportunities, get in touch with our analysts here.

Source: Research Dive Analysis

The women sub-segment is predicted to have a dominating share as well as fastest market growth in the global market and register a revenue of $12,595.7 million during the forecast period. Women’s night wear is trending now a days because of availability of different nightwear for all age groups, driving the global sleepwear market. Furthermore, women’s nightwear is available in various top brands such as Victoria’s Secret which may bolster the growth of the sub-segment during the forecast period and sleepwear market demand.

Source: Research Dive Analysis

The supermarkets/hypermarkets sub-segment is predicted to have a leading market share in sleepwear globally and register a revenue of $9,028.4 million during the analysis timeframe owing to availability of diverse range of sleepwear products in the supermarket under the same roof, get freedom of selection, and other facilities. Furthermore, at supermarkets, buyers can get quality goods at affordable and lower prices. Such factors may create huge opportunities for the sub-segment throughout the forecast period.

Source: Research Dive Analysis

The Market for Sleepwear in North America to be the Most Dominant

The North America sleepwear market accounted $4,416.0 million in 2020 and is projected to register a revenue of $9,402.8 million by 2028. The extensive growth of the North America sleepwear market is mainly driven by factors such as increasing customer demands and preferences for different types of comfortable sleepwear, which are being manufactured and sold in mainly the US and Canada. Also, in North American countries, people are preferring night suits and nigh robes and the existence of top leading companies are augmenting the industry growth in the region. These are some of the factors that are fueling the market growth across the globe.

The Market for Sleepwear in Asia-Pacific to be the Fastest Growing

The share of Asia-Pacific sleepwear market is expected to rise at a CAGR of 11.0%, by registering a revenue of $4,734.4 million by 2028. The growth shall be a result of rising demand for sleepwear across the region owing to increasing working population of women.

Competitive Scenario in the Global Sleepwear Market

Product launches and mergers & acquisitions are common strategies followed by major market players.

Source: Research Dive Analysis

Some of the leading sleepwear market players are L Brands Inc., Triumph International Holding GmBH., Berkshire Hathaway Inc., American Eagle Outfitters, Inc. (AERIE), Hanky Panky Ltd., Hanesbrands Inc., Jockey International, Inc., PVH CORPORATION, MAS Holdings Ltd., and the Chantelle Group.

Porter’s Five Forces Analysis for the Global Sleepwear Market:

• Bargaining Power of Suppliers: The product suppliers of sleepwear market are high in number and are larger and more globalized. Bargaining power of supplier depends upon production process and raw material requirement. So, there will be less threat from the suppliers.
  Thus, the bargaining power of suppliers is low. 
• Bargaining Power of Buyers: Buyers have huge options to select from more than 100 top brands of sleepwear; this has increased the pressure on the sleepwear providers to offer the best sleepwear to the consumer. This gives the buyers the option to freely choose sleepwear products that best fit their preference.
  Thus, the bargaining power of the buyers is high. 
• Threat of New Entrants: Companies entering the sleepwear market are adopting various innovations such as developing sleepwear that are available in different fabric and styles.
  Thus, the threat of the new entrants is high.
• Threat of Substitutes: There types of clothing available, but they are not as comfortable as that of sleepwear.
  Thus, the threat of substitutes is low.
• Competitive Rivalry in the Market: The competitive rivalry among industry leaders is rather intense, especially between the global players including L Brands Inc. and Triumph International Holding GmBH. These companies are launching their value-added services in the international market and strengthening the footprint worldwide.
  Therefore, competitive rivalry in the market is high.