Luxury Sleepwear Market by Type (Men, Women, Kids) by Distribution Channel (Online Hypermarket/Supermarket, Discount Stores, Brand Stores, Others) : Global Industry Size, Share, Statistics and Forecast 2015 - 2027

Luxury Sleepwear Market Analysis

The luxury sleepwear market is expected to grow with a high CAGR in the next forecast period. The luxury sleepwear market, along with the market for luxury loungewear, will likely have an upward trend in growth and a rise in demand for some years to come.

One of the biggest trends in the world lately is the "self-care" trend that lends to the demand for luxury sleepwear and loungewear. After a long day or working hard, people want to relax and treat themselves to some relaxation and comfort. The idea of slipping into some luxury sleepwear and lighting some candles is a huge trend that isn't going anywhere soon.

Another trend that we can see raising demand for luxury sleepwear is the silk obsession Millennials seem to have lately. The younger customer base wants everything to be made of silk, from pillowcases and bedsheets to hair caps and sleepwear. Silk is a long-standing symbol of luxury and comfort, and with its anti-aging and absorbent properties, people cannot get enough of it.

luxury-sleepwear-market

Global Luxury Sleepwear market is expected to witness CAGR of 11.03% during the forecast period. The revenue generated by the global Luxury Sleepwear market in 2021 was over USD 9,088.52 million and expected to generate revenue worth USD 20,429.85 million in 2028. The incremental growth opportunity offered by the global Luxury Sleepwear is estimated to be USD 108 billion between 2022 and 2028.     

Interesting Facts about Luxury Sleepwear Industry

  • Number of sleepwear’s sold annually across the world counts over one billion
  • Sleepwear’s are available in vast variety of fabric, right from cotton, silk, satin to nylon
  • Comfort is major motive behind growth of sleepwear’s
  • S. and Europe lead the demand for luxury sleepwear’s
  • Bangladesh is one of the largest Exporter of Luxury Sleepwear’s

Growing Preference for Comfort

Several factors drive the luxury sleepwear market, allowing it to grow and draw more customers. The first is the general rise in living standards across the world. People want luxury in every aspect of their lives, even when they are simply at home and sleeping. As disposable incomes rise and people have more money to spend, luxury is being incorporated into every aspect of life.

The next driving factor to the market is the post-Covid-19 lifestyle that begs for comfort and the small pleasures in life. Staying in is more on-trend than ever before, and the demand for luxury sleepwear and loungewear will only go up as people opt to stay inside rather than go out.

Lastly, the adoption of sustainable manufacturing coupled with the rise in digital marketing is likely to drive customers to the luxury sleepwear market. The market's consumer base is mostly younger people interested in sustainability and ethically sourced products. They also prefer online shopping a lot of the time, and digital marketing can be extremely swaying. Digital marketing and celebrity endorsements also create a lot of opportunities for retailers.

Availability of Counterfeit Products

There are some restraints to the luxury sleepwear market that should be considered as well. Factors such as product sourcing and the prevalence of counterfeit and fake products can threaten the market’s growth. Consumers are highly interested in ethically sourced products. The cotton and silk used in luxury sleepwear have to be proven to be properly sourced. Many counterfeit sleepwear products have saturated the market because they are much cheaper than luxury ones. These products are not ethically sourced and do not meet the quality requirements of the luxury alternatives. Receiving counterfeits in place of the luxury goods they were expecting is a huge discouragement for consumers.

U.S. and Europe to Dominate

U.S. and Europe are leading regional markets for luxury sleepwear’s. Over 55% share in total volume consumption and revenue generation for the year 2021 was contributed by U.S. and Europe. While, China is likely to post highest CAGR and poised t become most dominant regional market for Luxury Sleepwear’s. Men, Women, and Kids are major end-users of luxury sleepwear’s. While, Online Hypermarket/Supermarket, Discount Stores, Brand Stores and Others are major distribution channels for the Luxury Sleepwear’s. Bangladesh has been emerged as a manufacturing hub for luxury sleepwear’s and dominated the overall import to U.S. and Europe.

PVH CORPORATION, Jockey International, Inc., Berkshire Hathaway Inc., American Eagle Outfitters, Inc. (AERIE), Hanesbrands Inc., Hanky Panky Ltd., Triumph International Holding GmBH., L Brands Inc., MAS Holdings Ltd. and The Chantelle Group are some of the leading players in the global Luxury Sleepwear’s market.

Frequently asked questions about global Luxury Sleepwear industry

Likewise other industries, COVID 19 also taken a toll on Luxury Sleepwear market with around 14.46% decline in its revenue in 2020 as compare to 2019

North America is the largest regional market with highest share in the total volume of Luxury Sleepwear consumed in 2021

Growing demand for comfortable wears and increasing standard of living around the world is major factor driving the demand for Luxury Sleepwear

Men’s segment dominated the Luxury Sleepwear market in 2021 with over 40% share

Supermarkets/Hypermarkets was the largest distribution channel of Luxury Sleepwear in 2021 with over 40% share

Luxury Sleepwear Report Scope

Report Attribute Details
Market Value in 2021 USD 9,088.52 million
Market Value in 2028 USD 20,429.85 million
CAGR 11.03% between 2021 and 2028
Past data 2016 – 2021
Forecast period 2022 – 2028
Segments covered

Type

Men

Women

Kids

Distribution Channel

Online Hypermarket/Supermarket

Brand Stores

Discount Stores

Others

Regional scope North America (U.S., Canada and Mexico), Europe (Russia, Spain, Italy, Germany, France, UK, Poland, Belgium, Netherland, Sweden, Denmark, Austria, etc.), Asia Pacific (India, South Korea, China, Japan, Taiwan, Singapore, Vietnam, Thailand, Indonesia, Malaysia, Australia, etc.), Latin America (Peru, Chile, Colombia, Brazil, Argentina, etc.), Middle East (KSA, UAE, Israel, etc.) & Africa (Egypt, Nigeria, South Africa, East African Community, etc.)
Major Players Analysed PVH CORPORATION, Jockey International, Inc., Berkshire Hathaway Inc., American Eagle Outfitters, Inc. (AERIE), Hanesbrands Inc., Hanky Panky Ltd., Triumph International Holding GmBH., L Brands Inc., MAS Holdings Ltd. and The Chantelle Group.
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Published Date:  Jan 2022
Category:  Consumer Goods
Report ID:   60475
Report Format:   PDF
Pages:   138
Rating:    4.6 (20)
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