Dublin, Aug. 03, 2022 (GLOBE NEWSWIRE) — The “Bridal Wear – Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.
Global Bridal Wear Market to Reach US$69.9 Billion by the Year 2026
Amid the COVID-19 crisis, the global market for Bridal Wear estimated at US$61.1 Billion in the year 2022, is projected to reach a revised size of US$69.9 Billion by 2026, growing at a CAGR of 3.9% over the analysis period.
The wedding industry globally remains buoyant owing to unwavering demand and increasing number of millennials attaining marriageable age. There are tremendous opportunities for luxury brands serving the wedding industry to expand their offerings and customer base.
The bridal wear market is highly polarized and fragmented regionally, given the extremely faddish fashion trends dictating the market`s fortunes. Developed nations, being the pioneers in bridal wear fashion and home to an ever evolving and vibrant fashion industry dominate the global market.
Surging popularity of online wedding apparel boosted by the growing prominence of e-commerce; the untapped potential offered by plus-size bridal wear; growing demand for innovative and novel wedding jewelry; increasing focus on targeting engaged couples; and innovative and distinctively designed bridal wear being launched each season are some of the major factors expected to benefit market prospects in the coming years.
Another factor that would positively impact global wedding dresses sales in the coming years would be the constant increase in average spending on weddings. The market growth is also complemented by increasing entry of bridal wear businesses into the online space along with quality improvements in mass produced options.
Offline, one of the segments analyzed in the report, is projected to grow at a 4% CAGR to reach US$61.9 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Online segment is readjusted to a revised 3.5% CAGR for the next 7-year period. This segment currently accounts for a 15.1% share of the global Bridal Wear market.
The U.S. Market is Estimated at $27 Billion in 2022, While China is Forecast to Reach $6.8 Billion by 2026
The Bridal Wear market in the U.S. is estimated at US$27 Billion in the year 2022. The country currently accounts for a 44.16% share in the global market. China, the world’s second largest economy, is forecast to reach an estimated market size of US$6.8 Billion in the year 2026 trailing a CAGR of 5.8% through the analysis period.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3% and 3.6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.7% CAGR while Rest of European market (as defined in the study) will reach US$1.9 Billion by the end of the analysis period.
Future growth in the market, post recovery from Covid-19 impact, will be driven by developing countries such as China, India, Brazil, Peru, Argentina, Mexico, the US, Kuwait, UAE and Saudi Arabia, which are anticipated to emerge as major markets primarily because of their higher purchasing potential.
The North American region is also expected to offer significant gains towards the market growth, driven by continuous introduction of innovative bridal gowns in terms of styles, designs, and fabrics. The market is also witnessing increasing popularity for designer bridal dresses, which in turn accentuating the market growth.
What`s New for 2022?
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies – Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to the digital archives
- Complimentary updates for one year
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Bridal Wear Industry Remains Hard Hit amid the Pandemic
- Number of Weddings in the US: 2015-2022
- Pandemic Impact on Bridal Fashion Industry
- Key Future Trends in Bridal Fashion and Wedding Dresses
- Top Trends That Are Likely to Shape the Future of Weddings
- Supply Issues Lead to Delays in Wedding Dresses
- Bridal Industry Innovatively Adapts to the New Normal
- Wedding Dress Retailers Bet on Online Channel to Bounce Back after Containment of COVID-19
- The Changing Face Bridal Attire
- World Brands
- Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
- Global Market Outlook
- Bridal Wear Market Trends Shape Growth Opportunities
- Bridal Wear Market Trends: Sweet & Bitter Spots
- Growth Drivers in a Nutshell
- The Colossal Global Wedding Industry Drive Perennial Demand for Wedding Dresses
- Key Market Participants
- Designer Fortunes and Promotional Strategies Driven by Referrals
- Bridal Magazines: A Prime Advertising Medium
- Increasing Number of Brands Adopt Online Platform
- Global Designer Brands Eye Emerging Markets
- Recent Market Activity
2. FOCUS ON SELECT PLAYERS (Total 242 Featured)
- Allure Bridals, Inc.
- David’s Bridal Inc.
- Elie Saab
- Helen Rodrigues Bridal
- JLM Couture Inc.
- Justin Alexander Limited
- Klienfeld Bridal
- Macy’s, Inc.
- Monique Lhuillier
- Morilee LLC
- Naeem Khan
- Paloma Blanca
- Peter Langner
- Pronovias Fashion Group
- Sophia Tolli
- Temperley London
- Theia Couture
- Vera Wang
- Wedding Corporation Milla Nova LLC
- Winnie Couture
- Yumi Katsura International Co., Ltd.
- Zuhair Murad
3. MARKET TRENDS & DRIVERS
- Rise in Micro Weddings Spur Interest in Unconventional Bridal Wear
- A Peek into Select Trends
- Bridal Wear Designers Try to Meet Expectations Amid the Covid-19 Crisis
- COVID-19 Disrupts Wedding Plans & Prompts Brides to Eschew Traditional Silhouettes
- Bridal Wear Shoppers Get More Decisive
- Brands Try to Give Back
- Role of Technology in Sustaining Bridal Retail Business Amid Covid-19 Pandemic
- AR/VR Technologies Gain Increased Adoption
- Emergence of Direct-to-Consumer Bridalwear Brands
- Experimentation & Individualism Drive the Emerging Themes and Popular Fashion Trends in Bridal Wear Market
- Product Premiumization Boosts Market Prospects
- Mass Market Gains Appeal
- Changing Strategies in Mass Market
- Retailers Mend Strategies to Thrive amid Changing Trends in Bridal Wear Market
- Social Media Influencers Drive Healthy Market Gains
- Digital Transformation in Wedding Industry
- Top Digital priorities for Retailers
- Pandemic Accelerates Adoption of e-Commerce
- Traditional Wear Gets Redesigned as Lesser Number of Millennials Seek a Conventional Wedding
- Evolution of the Modern Informed Bride
- Plus-Size Bridal Wear Offers Huge Untapped Market Potential
- While Millennials and their Growing Extravagance Remain the Fundamental Growth Driver, the Industry Keeps a Watch on Generation Z
- Bridal Brands Shift Focus on Attracting Gen-Z Shoppers
- Same-Sex Wedding Legalization Bodes Well for Bridal Wear Brands
- Celebrities and Actresses Continue to Influence Market Fortunes
- Rise in Number of Non-Bridal Wear Retailers
- Ready-to-Wear, Lower Priced Wedding Dresses Continue to Cannibalize High-end Brands
- Rising Demand for Wedding Jewelry Benefit Market Expansion
- A Psychographic Profile of Bridal Jewelry Shoppers
- Self-Purchasing Trend, Bridal Demand and Young Customers Foster Growth of Platinum Jewelry
- Bridal Salons: A Propitious Niche
- Bridal Accessories: The Crowning Glory of a Bride’s Attire
- Rental & Second-Hand Gowns Influence Revenues
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
- Marriage Deferrals Amid Covid-19 Impacts Bridal Wear Market
- Shopping for Bridal Wear to Change Drastically after the COVID-19 Crisis
- US Wedding Market : A Preview
- US Wedding Statistics and Facts: Important Opportunity Indicators
- Breakdown of Average Spending (US$) on US Weddings by Spending Category
- Bridal Wear Market Embraces Newer Business Models
- Trends Outlined
- Underserved Plus-Size Bridal Dress Segment Offers Huge Market Opportunities
- Millennials Alter Bridal Wear Trends
- High Bridal Jewelry Sales Bodes Well for Market Growth
- Diamond Rings Remain Bright Spot in the Bridal Jewelry Market
- Same-Sex Weddings Follow Similar Trends as Heterosexual Weddings
- Competitive Scenario
- Bridal Wear Marketplace: Extremely Fragmented
- Distribution Scenario
- Online Shopping of Wedding Dresses Gathers Momentum
- Discount Stores Grow in Popularity
- Market Analytics
For more information about this report visit https://www.researchandmarkets.com/r/z9hvqc
- Global Market for Bridal Wear