According to a recent report by Reports and Data, the global market size for loungewear reached USD 5.70 Billion in 2021. Projections indicate that the market will experience a compound annual growth rate (CAGR) of 9.3% during the forecast period. This growth can be attributed to the rising demand for loungewear, driven by factors such as increased participation in outdoor activities like gym and yoga, as well as evolving consumer preferences.

The surge in popularity of loungewear stems from consumers' preference for comfortable and casual clothing options. These garments combine stylish aesthetics with practical designs, offering a cozy and relaxed attire suitable for home use. Furthermore, loungewear is suitable for year-round wear, as it is available in various materials such as silk, cotton, and wool. To meet the evolving demands of consumers, manufacturers are introducing new and fashionable products while also focusing on enhancing the quality of their offerings.

The market for loungewear has experienced a significant transformation due to the prominence of online shopping platforms. Many manufacturing companies now operate online stores, providing consumers with information on current trends and related resources. This shift towards e-commerce has greatly influenced the loungewear market and its accessibility to customers.

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Top Profiled Companies in the Global Loungewear Market Report:

Triumph Intertrade AG, Authentic Brands Group LLC., Nordstrom, Inc., Hanesbrands Inc., Jockey International, Inc., Marks and Spencer plc, PVH Corp., AEO Management Co., Ralph Lauren Media Llc, and Wacoal Holdings Corp.

Some Key Highlights From the Report

• The cotton segment revenue is expected to account for the largest share over the forecast period. Cotton's tensile strength makes it tough and durable. Users may get a good night sleep since the fabric's breathability helps air to circulate around the skin and prevents moisture from accumulating between the skin and the garments. Cotton also absorbs moisture from the skin due to its high absorbency. These factors are expected to support revenue growth of the segment during the forecast period.
• The supermarkets & hypermarkets segment accounted for the largest revenue share in 2021. These shops are a good option for customers from all demographic groups due to their reasonable product prices and increased visibility of both local and international brands. Also, standardization of products, accurate labeling of products, and lower profit margins are other factors driving revenue growth of the market.
• The females segment revenue is expected to register a rapid growth rate over the forecast period. Growing demand for comfortable clothing and increased COVID-19 pandemic worldwide are factors driving demand for loungewears among females. Moreover, growing yoga activity is another factor driving revenue growth of the market.
• The market in North America is expected to register the largest revenue share in the global loungewear market over the forecast period. The trends and expectations around remote employment have altered from the first quarter of 2020. Companies weren't ready for their entire employees to work remotely, but many employers are finding that it works out well due to technological advances and creativity. People who work remotely are becoming more common. Since the Coronavirus pandemic in 2021, 7 out of 10 American employees work from home. According to research, by 2025, 36.2 million Americans, or 22% of the total, will work remotely. A growing trend for work-from-home culture is driving demand for loungewears, resulting in revenue growth of the market.

Key Regional Markets Covered in the Report:

• North America (U.S.A., Canada, Mexico)
• Europe (Italy, U.K., Germany, France, Rest of Europe)
• Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
• Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
• Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

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Further market segmentation

Material Outlook (Revenue, USD Billion; 2019-2030)

• Cotton
• Wool
• Silk
• Others

Distribution Channel Outlook (Revenue, USD Billion; 2019-2030)

• Supermarkets & Hypermarkets
• Specialty Stores
• Online

End-Use Outlook (Revenue, USD Billion; 2019-2030)

• Males
• Females
• Kids

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