The Global Prom Dresses Market is slated to expand with a significant growth rate of 3.5% over the review period and reach a market value of USD 15.5 billion by the end of 2024.
Prom dresses are gowns that are worn to a prom, a graduation party, or as an evening dress for a celebration or special occasion. The changing lifestyles of customers in developing nations, as well as increased consumer awareness of current design trends, have boosted prom dress sales in recent years. Additionally, the growing teen population and the adoption of the prom and graduation party trend are driving up prom dress sales in the market. The surge in synthetic fiber clothing acceptance, owing to its comfort and ease of cleaning, has had a favorable impact on the global clothing and apparel market growth. Growing global fashion trends have resulted in a strong demand for fibers and fabrics created from a variety of sources, including natural fibers, cotton fibers, and synthetic fibers. In the future years, changing fashion trends, combined with high buying power among women and an increasing number of celebrity sponsorships, are projected to fuel demand for prom dresses. In addition, the expanding influence of social media and celebrities is pressuring clothes companies to develop new styles and patterns.
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The global prom dresses market has been segmented based on type, fabric, distribution channel, and region.
The global prom dresses market has been classified, based on type, as long dresses, short dresses, and knee-length dresses.
The global prom dresses market has been segmented based on the fabric, into chiffon, satin, organza, and others.
Based on the distribution channel, the global prom dresses market has been bifurcated into store-based and non-store-based.
In 2018, the prom dresses market in North America held the highest proportion of the global market. The regional market is developing due to an increase in the number of teenagers, robust advertising campaigns by existing market participants, and increased disposable income across the region. Furthermore, the increasing adoption of the tradition of celebrating prom in emerging countries, as well as the frequent introduction of new and inventive types of gowns in response to customer demands, are boosting prom dress sales in the region. In the North American region, the United States and Canada are prominent prom dress producers. Due to an increase in demand for evening and party dresses in recent years, the United States has dominated the market in this region. Furthermore, celebrity endorsements, social media, and fashion publications are all contributing to the region’s garment and apparel industry’s rise.
The prom dresses market in Europe is being driven by rising consumer knowledge of the newest fashion trends and a large consumer base, particularly in developed nations such as the United Kingdom and France. The market is being boosted by the adaptation of western fashion and the improving economic conditions in the Asia Pacific area.
In the forecasted period, Asia Pacific is likely to increase significantly. In the review period, rising demand for clothing and apparel goods from the region’s growing population, combined with the adoption of western fashion trends, is likely to drive increasing demand for clothing fibers. On account of rising demand from a growing population, the garment and apparel industries in China and South Korea are expected to increase significantly throughout the projection period. The key elements driving demand for fashion garments and clothing in the country include the rising per capita income of the country’s middle-class population, changing lifestyles, and shifting preferences for premium brands and comfortable clothing.
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Jovani Fashions Ltd (US), Sherri Hill, Inc. (US), Shiseido Company, Limited (Japan), White Factory Holding S.L.U. (Spain), Primavera Couture LLC (US), Faviana International (US), Adrianna Papell (UK), Badgley Mischka (US), Marchesa (US), Grupo Franc Sarabia (Spain), Yolancris (Spain), Nordstrom (US), Victorio & Lucchino (Spain), Betsy And Adam (US), Cymbeline Forever S.A.S (France) are some of the key players in the global prom dresses market.
Collaborations, boosting manufacturing capacity, and geographic development are some of the traditional techniques used by market leaders. The clothing fibers market is mature, as evidenced by the presence of global companies in the market for more than a decade. Due to the presence of a large number of competitors, including small and medium businesses as well as traditional corporations, the market is highly fragmented. Traditional global firms, on the other hand, have a strong presence in the market due to their substantial product penetration, production facilities, and global reach.
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