Maternity Apparel Market Dynamics: Foreseeing the Impact of a 6.80% CAGR by 2034
The maternity apparel market is valued at US$ 26.05 billion in 2024 and is expected to reach US$ 50.51 billion by 2034. The market is projected to exhibit a CAGR of 6.80% over the forecast period.
Sales of maternity clothing rose at a 3.5% annual rate of growth from 2016 to 2020. Because of the increasing impact of fashion magazines, social media, and celebrity endorsements on millennials, modern mothers are selecting maternity clothes that are appropriate for the occasion and the setting.
To capitalise on the rising demand for maternity gear, a number of apparel brands are focusing on developing fresh and stylish maternity collections. Consequently, it is projected that the demand for maternity garments will rise at a compound annual growth rate (CAGR) of 6.7 percent between 2021 and 2031.
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For instance, Zara just unveiled its first line of maternity wear, which includes about 25 items specifically designed for pregnant women. These items include jeans, sweaters, knit dresses, and overalls. Numerous such advances are anticipated to increase demand for maternity clothing.
According to FMI, maternity outerwear gear is anticipated to become the most appealing product type category, making up almost 76.2 percent of total sales in 2021. The growth of the category is being aided by the rising demand for fashionable outerwear items including jeans, skirts, shirts, dresses, and tunics that are sold under various brands.
“Key manufacturers place a strong emphasis on the release of cutting-edge and stylish maternity clothing to shield expectant mothers and babies from dangerous ultraviolet (UV) radiation. These outfits are being tailored with natural and environmentally safe materials. This is anticipated
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.
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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 online sales channel.
- 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 towards 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, 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 active wear 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 maternity wear. As a part of the partnership, Monte Carlo will produce maternity wears designed by Momsoon for online sale channels.
Some of the key players operating in the market profiled by FMI are:
- Adidas AG
- ASOS Plc
- Brainbees Solutions Pvt. Ltd.
- Hanesbrands Inc.
- H & M Hennes & Mauritz AB
- C. Penney Co. Inc.
- Nike Inc.
- Seraphine Ltd
- The Gap Inc.
- Tytex AS
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