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Loungewear Market Research Future Insights:
Loungewear Market Size was valued at USD 5497.9 million in 2021. The loungewear market industry is projected to grow from USD 6025.69 million in 2022 to USD 11446.72 million by 2030, exhibiting a compound annual growth rate (CAGR) of 9.60% during the forecast period (2022 – 2030).
Loungewear has become increasingly popular in recent years as people gravitate towards more comfortable, casual clothing options. Loungewear is versatile and can be both fashionable and functional, making it a great choice for staying at home.
It is available in different material types such as cotton, silk, and wool, making it suitable for every season. The COVID-19 pandemic has had a mixed impact on the loungewear market. Manufacturing and production activities have been halted, making it difficult to launch new products or make other improvements. However, there has been an increase in demand for loungewear as people spend more time at home.
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Key Players
Some of the key market players are L Brands Inc., H & M, Triumph International Holding GmBH, Authentic Brands Group LLC, Urban Outfitters, Nordstrom Inc., Hanesbrands Inc., Jockey International Inc., Marks & Spencer Group Plc, PVH CORPORATION.
Loungewear Market Segmentation
The Global Loungewear market has been segmented into material, end-user, and distribution channels.
Based on the material, the market has been segmented into Cotton, Wool, Silk, and Others.
Based on the end-user, the market has been segmented into females, males, and Kids.
Based on the distribution channel, the market has been segmented into Store-Based {Supermarkets & Hypermarkets, Specialty Stores, and Others} and Non-Store-Based.
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Regional Analysis
North America currently dominates the Loungewear Market Share due to the promotional efforts of leading manufacturers. This has in turn raised customer awareness of new product launches, driving demand. Industrial players are focused on the regional market and are formulating strategies to acquire a greater share value. Other regions such as Europe and Asia-Pacific are also seeing significant growth, which will contribute to the expansion of the global market.
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NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
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