In a number of cultures in various parts of the world, bridal gowns occupy a significant part of the overall wedding spending. The marked significance of bridal gowns among brides for a getting a harmonious and magnificent look on the wedding day is a key factor catalyzing the growth of the global market. In recent years, the market has seen the advent of bridal gowns with a variety of fabrics, designs, styles, and workmanship, which has helped brides to meet their needs of an unforgettable bridal outfit. The advent of low-priced wedding gowns for cash-strapped brides is a key factor boosting the market. The rising prominence of mass marketization of bridal gowns and a large number of retailers entering the online arena of the wedding industry are prominent developments expected to greatly influence the market dynamics in coming years. Furthermore, several players focusing on designing elegant yet affordable bridal gowns is a key factor expected to unlock exciting opportunities in the coming years.
The bridal gowns market is estimated to be valued at US$32,454.2 Mn by 2017 end and is forecast to reach a worth US$43,502.8 by the end of 2024. The market is anticipated to register a CAGR of 6.0% during 2017–2022.
APEJ to Offer Lucrative Growth Avenues
The major regional markets profiled in the report are North America, Latin America, Middle East and Africa, Europe, Asia Pacific excluding Japan (APEJ), and Japan. Of these, the APEJ market is the leading regional market holding the major revenue in 2017. The regional market is projected to maintain its dominance over the forecast period as well. Expanding at a CAGR of 6.4% from 2017 to 2024, the regional market is expected to reach a valuation of US$13,529.3 Mn by the end of the forecast period. The attractiveness of this regional market is largely attributed to burgeoning spending in wedding gowns in several developing economies. In addition, the growing demand for plus-size bridal wear and the rise in online sales of bridal outfits are key factors expected to accentuate the regional market.
North America to Rise at Significant Pace
North America is one of the prominent markets for bridal gowns and is projected to rise at a significant CAGR of 7.1% from 2017 to 2024. The regional market is anticipated to rise from US$ 7,948.7 Mn in 2017 to US$11,192.2 Mn by 2024 end. The growth of this regional market is likely to be fueled by constant innovations in fabrics, designs, and styles of bridal gowns. The growing popularity of designer bridal dresses is expected to accentuate the regional market.
Ball Gown Wedding Dress to Reign Supreme
The major styles of bridal gowns are ball gowns, mermaid-style dresses, trumpet dresses, A-line dresses, sheath wedding dresses, and tea-length wedding dresses. Of these, the ball gowns style segment leads as it holds the major revenue in the market in 2017 and is expected to witness major absolute growth annually from 2017 to 2024.
The estimated valuation of the ball gown segment is US$ 8,595.0 Mn by 2017 end, representing a share of 26.5%. The segment is projected to reach a worth of US$ 11,416.2 Mn by 2024 end holding a share of 26.2% in the market. This will represent a CAGR of 5.8% during the forecast timeline. Annually, the segment is growing at US$ 564.2 Mn over the course of the forecast period. The substantial demand for these styles is attributed to their flexibility to fit all body shapes and sizes among brides. Considered as classic bridal outfit, this style has well-adjusted to address the dynamically changing wedding fashion market in recent years.
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Competitive Analysis
Leading players profiled in the report include Kleinfeld Bridal Corp., David’s Bridal, Inc., Elie Saab France, Harrods Limited, JLM Couture, Inc., Justin Alexander, Inc., Maggie Sottero Designs L.L.C., and Moonlight Bridal Design, Inc. Numerous prominent players are launching innovative product lines having magnificent look and are focusing on affordability of their products, in order to gain a competitive edge over others.
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