Wedding Wear Market Size is Anticipated to Reach USD 87.9 Billion by 2025: Grand View Research, Inc.
15-Nov-2019: The global wedding wear
market size is anticipated to reach USD 87.9 billion by
2025, according to a new report by Grand View Research, Inc., expanding at a
CAGR of 6.0% over the forecast period. Product innovation in terms of design
and fabric, coupled with increased spending on weddings, is expected to be a
major factor driving the market.
Wedding gowns
dominated the market in 2018 and accounted for 50.0% share of the overall
revenue. Different types of fabric designs such as lace, georgette, and silk
that improve the aesthetic value of the overall dress is a major factor
increasing product demand. However, suits and tuxedos are expected to witness
the fastest growth during the forecast period owing to substantial rise in
fashion awareness among the male population. Moreover, different styles of
jackets, embellishments, buttons, and handwoven designs are expected to
increase product demand, thereby propelling overall market growth.
The female segment
occupied the largest market share in 2018. Continuous design launches are
contributing to the growth for women. In November 2018, Stella McCartney
launched her first ever bridal collection to increase her product portfolio.
The male segment is anticipated to grow significantly during the forecast
period owing to advent of social media marketing and celebrity influencers.
Europe occupied the
largest market share in 2018 owing to premium pricing strategy adopted by major
players. The market in this region is comparatively mature, which is pushing
manufacturers to design dresses that have costly decorations and detailing.
This is expected to boost the wedding wear market growth in this region.
Asia Pacific is the
fastest growing regional market owing to a large youth population present in
countries like China and India. The average number of marriages per year in
India and China together is estimated to be more than 20 million. This region
is expected to drive the global market during the forecast period owing to
increased spending on weddings as a result of rise in disposable income.
In depth research report on Wedding Wear Market
Further key
findings from the study suggest:
·
By product, traditional wear is projected to ascend at a CAGR
of 6.3% during the forecast period. Presence of diverse cultures in Asia
Pacific and Middle East and Africa is expected to drive the segment
·
By gender, the male segment is anticipated to expand at a
CAGR of 7.1% owing to increase in demand for stylish male wedding outfits
·
Destination weddings are becoming popular owing to consumer
preference for scenic locations. Leveraging this growing trend, Sabyasachi, a
famous Indian Designer, launched his summer collection in 2018, exclusively for
destination wedding brides.
Grand View Research
has segmented the global wedding wear market by product, gender, and region:
Wedding Wear
Product Outlook (Revenue, USD Million, 2015 - 2025)
· Gowns
· Tuxedo / Suit
· Traditional Wear
Wedding Wear Gender
Outlook (Revenue, USD Million, 2015 - 2025)
· Female
· Male
Wedding Wear
Regional Outlook (Revenue, USD Million, 2015 - 2025)
· North America
· U.S.
· Europe
· Germany
· Italy
· Asia Pacific
· China
· India
· Central & South
America
· Middle East &
Africa
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category:
About Grand View Research
Grand View Research, Inc. is the
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
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