The global bridal wear market is expected to post a CAGR of over 5% during the period 2019-2023, according to the latest market research report by Technavio
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Technavio has announced its latest market research report titled global bridal wear market 2019-2023. (Graphic: Business Wire)
Continuous product innovations drive the growth of the global bridal wear market in terms of designs, fabrics, craft, and styles. Brand-conscious customers are attracted to brands that deliver high-quality' products. Social media has helped break stereotypes, and hence, there has been an increasing demand for bridal wear with fresh embellishments, and a new color palette. For instance, millennial pink was one of the key colors of Spring/Summer 2017, which was the preferred color for wedding decor and attire that year. This encouraged several brides to opt for pink and blush bridal dresses instead of the traditional whites, creams, and ivory. Moreover, branding is the key to attract and retain customers in the global bridal wear market. Therefore, sales of the key vendors are expected to increase due to factors such as premiumization and effective brand positioning.
As per Technavio, the increasing influence of celebrities' bridal wear will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global bridal wear market 2019-2023research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Bridal Wear Market: Increasing Influence of Celebrities' Bridal Wear
Vendors are focusing more on brand attachment and engagement with consumers through product promotion by celebrities and advertisements. Consumers get influenced by celebrity wedding attire, and this trend is expected to drive the bridal wear market during the forecast period. For instance, some of the celebrities who wore bridal wear offered by the vendors are Kim Kardashian (Vera Wang); Isha Ambani (MANISH MALHOTRA); Chanel Iman (Zuhair Murad); and Gwen Stefani (LWH). Hence, department stores are increasingly investing in celebrity endorsements for the retail of women's apparel brands in a bid to attract customers. Department stores are adopting this strategy to compete in terms of brand awareness and recognition. This promotional strategy is also in keeping with the launch of international fast-fashion retailers in the global market, which is expected to boost market growth during the forecast period.
"Apart from the increasing influence of celebrities' bridal wear, the increased adoption of omnichannel strategy along with the rising number of private-label brands and small manufacturers are other factors that will boost market growth during the forecast period," says a senior analyst at Technavio.
Global Bridal Wear Market: Segmentation Analysis
This market research report segments the global bridal wear market by distribution channel (offline and online) and geographical regions (North America, Europe, APAC, MEA, and South America).
The North American region led the market in 2018, followed by Europe, APAC, MEA, and South America, respectively. However, during the forecast period, the European region is expected to register the highest incremental growth due to the presence of various market vendors in the region.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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