Evolve Business Intelligence has published a research report on the Global Loungewear Market, 2023–2033. The global Loungewear market is projected to exhibit a CAGR of around 9.97% during the forecast period of 2023 to 2033.
Evolve Business Intelligence has recognized the following companies as the key players in the global Loungewear Market: L Brands Inc, H & M, Triumph International Holding GmBH, Authentic Brands Group, Urban Outfitters, Nordstrom Inc, Hanesbrands Inc, Jockey International Inc, Marks & Spencer Group, PVH Corporation.
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Market Highlights
The Loungewear market is projected to be valued at USD 6.75 Billion by 2033, recording a CAGR of around 9.97% during the forecast period. “Loungewear” refers to a category of clothing that is designed primarily for comfort and relaxation, typically worn in informal or home settings. It includes clothing items such as loose-fitting pants, soft knit tops, cozy sweaters, relaxed dresses, and similar garments. Loungewear is characterized by its soft fabrics, relaxed silhouettes, and easy-to-wear designs that prioritize comfort without sacrificing style. While originally intended for leisure activities or downtime at home, loungewear has become more versatile and is often worn in casual or work-from-home environments, offering a blend of comfort and presentable aesthetics.
The COVID-19 pandemic had a profound impact on the loungewear market. As people spent more time at home, there was a significant increase in demand for comfortable and cozy clothing options. Loungewear quickly became the go-to choice for remote work, leisure activities, and relaxation. Fashion brands swiftly responded by expanding their loungewear collections and marketing efforts. Online retail and direct-to-consumer channels played a vital role in meeting the heightened demand, as physical stores faced closures or restrictions. Overall, the pandemic accelerated the popularity and market growth of loungewear as a versatile and comfortable fashion category.
Segmental Analysis
The global Loungewear market has been segmented based on Material, End-user, Distribution channel, and region.
Based on Material, the Loungewear market is segmented based on Cotton, Wool, Silk, and Others. Cotton is expected to have the largest market share throughout the forecast period, while Silk is expected to grow at the fastest rate.
Based on End-user, the global Loungewear market has been divided into females, Males, and kids. The female segments are anticipated to dominate the market.
Based on the Distribution channel, the global Loungewear market has been divided into Store-Based, Non-Store-Based. The Store-Based segments are anticipated to dominate the market.
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Regional Analysis
The Loungewear market is divided into six regions: North America, Europe, Asia-Pacific, Latin America, the Middle East, and Africa. In North America, loungewear has been gaining popularity in recent years, especially with the rise of remote work and the desire for comfortable clothing. Major brands and retailers have been focusing on offering stylish and comfortable loungewear options to cater to this demand. Asia is a diverse region with various countries, each having its fashion trends and preferences. Loungewear has also gained popularity in many Asian countries due to similar reasons, such as comfort and the increase in remote work. Countries such as Japan and South Korea are known for their fashion-forward culture, and loungewear has become a significant part of their fashion industry.
