The global maternity clothing market is now expected to reach $41.3 billion by 2031. At a CAGR of 6.7% during the forecast period 2021-2031.
According to a recent survey steered by FMI, the demand for maternity apparel grew at a CAGR of 3.5% between 2016 and 2020. At present, the global maternity clothing market size stands around $21.6 billion.
The market growth is driven by the growing saturation of fashion trends amongst millennials due to the mounting impact of fashion magazines, social media and celebrity endorsements are inspiring modern mothers to pick for occasions- and venue-precise maternity attires.
The FMI report said, “Key manufacturers are emphasizing on launching innovative and fashionable maternity wear for protecting mothers and babies from harmful ultraviolet (UV) radiation. They are using natural and eco-friendly fabrics to tailor these garments. This is expected to bode well for the market.”
It is relatable to give a reference that many fashion brands are aiming at launching new maternity collections to take advantage of the swelling demand for maternity apparel.
While outerwear maternity attire is projected to arise as the most attractive product section, accounting for approximately 76.2 percent of the total sales in 2021.
Growing demand for outerwear stylish fashion such as jeans, skirts, tops, dresses and tunics, available under various brands, is supporting the growth in the section.
The US region is expected to rule the market in North America, accounting for more than 79.2 percent of the regional sales by 2021-end.
Australia is likely to account for over 51.7 percent market share, while India is predicted to emerge as one of the most remunerative markets in South Asia, accounting for around 31.7 percent of sales in 2021.