Global Bridal Wear Market Report 2022: Market to Reach US$69.9 Billion by 2026 - Role of Technology in Sustaining Bridal Retail Business Amid Covid-19 Pandemic

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Aug 02, 2022, 13:45 ET

DUBLIN, Aug. 2, 2022 /PRNewswire/ -- 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:

I. METHODOLOGY

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
COMPETITION
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
Watters
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