Prom Dresses Market Insights: Growth, Key Players, Demand, and Forecast 2028
Prom Dresses Market Scope
Prom dresses market 2022 can project a
decent growth at a rate of 3.80 % between 2022 and 2028 (evaluation period),
expects MRFR (Market Research Future). MRFR also anticipates the market value
to reach an impressive USD 18.4 billion by 2028-end. We will provide COVID-19
impact analysis with the report, along with all the extensive key developments
in the market post the coronavirus disease outbreak.
Key Boosters and Challenges
Prom dresses are a huge hit among North
American consumers, especially in Canada and the United States. Prom dresses
that are made of chiffon fabric are particularly in demand among the teen
consumers. A number of prom dress manufacturers are striving to bolster their
product range by including different design and style to appeal to the target
consumers to improve their profit margins. Prevalence of urban lifestyle and
the surging awareness level with regard to the new fashion trends has been
favorable for prom dresses, in terms of sales. This rising awareness level
about fashion trends among consumers has prompted the top manufacturers to
spend considerably on developing new kinds of prom dresses. Many players are
establishing strategic partnerships with popular e-commerce portals to boost
their global reach; hence the expanding online shoppers’ population worldwide
is proving to be quite favorable for the prom dresses industry.
The prom dresses market outlook stands to benefit from the heightened demand for formal evening
dresses that include prom dresses, which have been designed by famous fashion
designers. Prom dresses’ popularity is also the result of the mounting number
of celebrities endorsing them, which resonates especially strongly with The
wide availability of various product types and the best distribution channels
belonging to organizations also contribute significantly to the market growth.
The majority of prom dresses are generally made using high quality fabric such
as satin, chiffon, organza and worsted, which enjoy huge demand from consumers.
However, the dresses that are made of 100% polyester and have a broader range
of styles and designs are observing an escalation in demand across the globe.
Luxury apparel has emerged as an attractive
space for the manufacturers to focus on, considering the soaring number of
fashion-conscious and elite consumers across countries. Prom dress companies
are also collaborating with each other to combine their respective expertise
and gain impetus in the global market. To illustrate, in February 2020, L’eggs
Hosiery partnered with “Operation: Deploy Your Dress” with the aim to support
women that are in the military or are military spouses. L'eggs Hosiery and
Operation: Deploy Your Dress are encouraging people to gift prom dresses along
with formal gowns and bridesmaid dresses to the nonprofit.
Reputed Market Vendors
Highly reputed market vendors profiled in
the MRFR study are Victorio & Lucchino (Spain), Shiseido Company, Limited
(Japan), Yolancris (Spain), Primavera Couture LLC (US), Cymbeline Forever S.A.S
(France), Sherri Hill, Inc. (US), Betsy And Adam (US), Adrianna Papell (UK),
Jovani Fashions Ltd (US), Marchesa (US), Grupo Franc Sarabia (Spain), Faviana
International (US), Nordstrom (US), Badgley Mischka (US), White Factory Holding
S.L.U. (Spain), to mention a few.
The
prom dress market can be considered for type, fabric, and distribution channel.
The
various types of prom dresses are short dresses, knee-length dresses, and long
dresses.
Prom
dresses are available in different fabrics, such as organza, satin, chiffon,
and others.
Some
of the key distribution channels identified in the prom dresses market outlook are
store-based as well as non-store-based. The store-based channels are specialty
stores, supermarkets & hypermarkets, and more.
Regional Outlook
The
research thoroughly studies the prom dress market size with regard to a few
regions, namely Europe, Asia Pacific, or APAC, North America, and RoW, or the
rest of the world.
The
North American prom dresses market insights have remained the most
lucrative since 2018, and they are set to perform spectacularly in the coming
years as well. The vast teenage population, robust promotional and advertising
campaigns by leading brands and the high disposable income of people add
significant value to the regional market. With the surge in social media and
celebrity influencers, prom dresses have gained substantial traction in the
region. with these brand ambassadors setting the benchmark for various designs
and styles that appeal to millennials. Given the favourable scenario,
manufacturers are now more focused on getting famous celebrities to endorse
their products to bolster brand recognition and elevate consumer demand in the
region.
Some
of the fastest-developing economies in the world are present in APAC, where the
female population is increasingly fashion-conscious.
This
is the case owing to the emergence of e-commerce, fashion magazines, and social
media influencers. Also, the rising prevalence of the western culture of
celebrating prom and the introduction of innovative designs and styles that
cater to every consumer need also foster market demand in the region. Online
shopping portals are serving as the ideal medium for designer brands to
showcase their products and enhance their customer base in the region, leading
to significant business growth. The burgeoning millennial populace in India and
China also induces growth in the APAC prom dress market.
NOTE: Our Team of Researchers are Studying Covid19 and its Impact on
Various Industry Verticals and wherever required we will be considering Covid19
Footprints for Better Analysis of Market and Industries. Cordially get in Touch
for More Details.
Contact us:
Market Research Future (part of Wantstats Research and Media Private
Limited),
99 Hudson Street,5Th Floor, New York, New York 10013, United States
of America
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