02 August 2022, Mumbai:
Maternity Apparels Market Key Players, End User, Demand and Consumption by 2031.
The global maternity apparel market is set to total US$ 21.6 Bn in 2021. Improving men to women ratio and increasing the number of working women, who continue to work during their pregnancy, are facilitating the growth in the market.
In response to this, the market is expected to reach US$ 41.3 Bn by 2031. Between 2016 and 2020, the market for maternity clothing expanded at a CAGR of 3.5 percent.
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To capitalize on the rising demand for maternity wear, several clothing brands are focusing on producing fresh and trendy maternity collections. As a result, demand for maternity wear is expected to grow at a 6.7 percent compound annual growth rate (CAGR) from 2021 to 2031.
For instance, recently Zara launched its first maternity clothing collection comprising around 25 dedicated maternity apparel such as jeans, sweaters, knitted dresses, and overall.
A slew of such developments is expected to spur the sales of maternity apparel.
As per FMI, outerwear maternity apparel is estimated to emerge as the most attractive product type segment, accounting for nearly 76.2% of the overall sales in 2021. Increasing demand for outerwear stylish clothing such as jeans, skirts, tops, dresses, and tunics, available under various brands is favoring the growth in the segment.
Key Takeaways from Maternity Apparel Market Study
· South Korea and Japan are projected to account for 23.6% and 33.7% of the maternity apparel sales across East Asia in 2021, respectively.
· Based on sales channels, multi-brand store-based retailing is forecast to hold the largest revenue share in the segment, accounting for more than 29.3% of the sales in 2021.
· The U.S. is anticipated to dominate the market in North America, accounting for more than 79.2% of the regional sales by 2021-end.
· Favored by the increasing number of working pregnant mothers in Australia, the country is expected to account for over 51.7% market share.
· India is projected to emerge as one of the most remunerative markets in South Asia, accounting for around 31.7% of sales in 2021.
Key Drivers
§ High convenience and availability of a large number of unique brands, designs, and affordable prices with big discounts are increasing the sales of maternity appeals through the online sales channels.
§ Increasing pregnancy rates and increasing fashion consciousness among modern pregnant mothers across the U.S., Australia, Germany, Japan, and others are driving the growth in the market.
Key Restraints
§ High cost of stylish and fashionable maternity apparel and low consciousness about different maternity clothing across low-income economies are expected to hinder the growth in the market.
§ Increasing preference for wearing maternity clothes made using natural fabric is hampering the sales of apparel made of synthetic materials such as polyester, and nylon.
Competitive Landscape H & M Hennes & Mauritz AB, Seraphine Ltd, and The Gap Inc. are the top three market players, identified by Future Market Insights. They are expected to cumulatively account for nearly 5% to 6% of the total sales in 2021.
Leading manufacturers are focusing on entering into strategic collaborations and partnerships with other players to expand their product portfolio and increase their market share.
For instance,
§ In September 2020, Nike, an American multinational sportswear corporation, announced launching its first-ever activewear collection for pregnant women.
The Nike (M) collection range from $45 to $85 online and consists of four products tailored as per the changing women’s bodies before, during, and after pregnancy. § In Oct 2020, Momsoon, a Maternity and Nursing Wear start-up, announced entering into a partnership with a leading clothing brand, Monte Carlo to launch its winter collection of maternity wear.
As a part of the partnership, Monte Carlo will produce maternity wears designed by Momsoon for online sale channels.
CREDITS:These insights are based on a report on the Maternity Apparels Market by Future Market Insights.
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