The global maternity wear market by type (tops, bottoms, dress and tunics, and others) and geography (North America, Europe, APAC, South America, and MEA) has been added to Technavio’s offering.
The global maternity wear market is expected to grow by USD 2.91 billion, at a CAGR of over 3% during 2021-2025. he growth of the maternity wear market was temporarily affected in 2020 due to the growing number of COVID-19 cases.
Besides, the imposition of strict lockdown regulations had affected the global apparel, accessories, and luxury goods market, which is the parent market of the market in focus. However, the market is expected to recover in 2021 and register healthy growth with the introduction of COVID-19 vaccines and the rapid consumer shift toward online shopping.
The market is driven by factors such as the growing demand for maternity wear from emerging countries, increasing product awareness, and increasing demand for antimicrobial and eco-friendly maternity intimate wear.
Maternity Wear Market: Opportunities
Improvements in economic conditions and rising disposable incomes are encouraging consumers to increase their spend on fashion clothing. Also, the rising number of pregnant working women and the increasing awareness about the availability of fashionable maternity apparel has created a significant demand for maternity wear. Moreover, increasing fashion consciousness among women in both developed and developing countries is expected to present several growth opportunities for vendors during the forecast period.
Maternity Wear Market: Segmentation by Type
Based on the segmentation by type, the market generated maximum revenue in the tops segment in 2020. The segment is driven by the increasing demand for maternity tops from developing countries such as India and China. Also, rising disposable incomes and increasing birth rates are expected to contribute to the growth of the segment during the forecast period.
Maternity Wear Market: Segmentation by Geography
APAC held the largest market share in 2020 and the market growth in the region is expected to be faster compared to the growth of the market in other regions. The growth of the market in APAC can be attributed to the increasing number of working women. Also, the high birth rate in the region is expected to contribute to the growth of the maternity wear market during the forecast period.
One of the fortune 500 companies had used the detailed research report on the maternity wear market and had decided to increase their market share in the APAC region which offers the highest market opportunities during the forecast period.