The United States was the largest country in terms of revenue generation for the dancewear market
POTLAND, 5933 NE WIN SIVERS DRIVE, #205, OR 97220, USA, Aug. 23, 2022 /EINPresswire.com/ — According to a new report released by Allied Market Research titled “Dancewear Market”, The dancewear market size was valued to $1.1 billion in 2020 and is expected to reach $1.7 billion by 2030, growing at a CAGR of 4.8% from 2021 to 2030. Dancewear is a type of clothing and footwear that comes in a variety of colors, fabrics, materials, sizes and designs to suit a range of dance genres. It is designed to meet aesthetic demands while increasing dance engagement.
It has gained popularity not only among mainstream superstars performing at events, but also for dance schools, fitness studios and Zumba classes. Dancewear is no longer limited to old-fashioned clothing worn only for dancing, it has been launched in athletic styling, body-fitting designs and improved textiles that can be worn for exercise and fitness activities. yoga. The dancewear industry has become fiercely competitive as many prominent companies are eager to introduce new trends, and fashion design start-ups are investing in dancewear in a variety of colors and styles. The availability of dancewear in a variety of bright colors, printed patterns, geometric patterns, increased flexibility and comfort of fabrics, ballet dancewear, costume customization, similar patterns to those worn by traditional dancers and the availability of several artist collections have all contributed to the development of new trends in the dancewear market. Big companies spend more on sustainable processes and higher quality dancewear. For example, Zarely, a dancewear company, has created a range of geometric patterns, asymmetrical tops, a combination of classic and modern dancewear, and sportswear that can be worn as dancewear and any other occasion. . The availability of high-quality dancewear products is expected to fuel the demand for the dancewear market.
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However, the availability of counterfeit products affects the entire apparel industry and the growth of the dancewear market. Counterfeits could cause governments to refuse to spend for fear of losing product protection. In addition, they have a significant influence on companies since premium brands draw their distinction from their notoriety as well as from the limited amount accessible. Counterfeits contaminate the supply with similar looking items of lesser quality and are not created with the same care. Businesses suffer from a lack of IPR (intellectual property rights) protection in more ways than one. This is not only a direct loss of revenue but also a loss of brand image. The use of a brand’s trademark attracts consumers to come and buy the product at a very low price because individuals can acquire the product which costs 5 to 10 times more in the market. A brand is a company’s most valuable asset and counterfeit items take advantage of it. As a result, the growth of the dancewear industry is in decline, and it can only resume if the government bans the sale of counterfeit products.
The global dancewear market is segmented into product type, application, end-user, distribution channel, and region. On the basis of type, the market is categorized into bodywear, footwear, and accessories. By application, it is separated into theaters, concerts, entertainment industry and others. According to the end user, it is fragmented into men, women and children. According to the distribution channel, it is differentiated into specialty stores, online channels, hypermarkets/supermarkets, and others. By region, it is analyzed in North America (United States, Canada and Mexico), Europe (Germany, United Kingdom, France, Italy, Spain and rest of Europe), Asia-Pacific (China, Japan , India, Australia, South Korea and Rest of Asia-Pacific) and LAMEA (Brazil, Argentina, Saudi Arabia, South Africa and Rest of LAMEA).
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Main results of the study
· Based on type, the bodywear segment is expected to witness the highest CAGR of 4.0%, in terms of revenue, during the forecast period.
By application, the others segment is expected to dominate the market from 2021 to 2030.
· According to the end user, the female segment is expected to witness the highest share, in terms of revenue, during the forecast period.
· Based on the distribution channel, the online channel segment is expected to grow at a significant CAGR during the forecast period.
United States was the largest country by revenue generation for the dancewear market in 2020.
Asia-Pacific is expected to experience the highest growth rate, registering a CAGR of 6.1% from 2021 to 2030.
The players operating in the global Dancewear market have adopted various development strategies to grow their Dancewear market share, increase their profitability and stay competitive in the market. Major Players profiled in this report are Ballet Makers, Inc, Bloch International, Bullet Pointe, LLC, Flo Dancewear Pty. Ltd, Grishko Dance SRO, Onward Holdings Co., Ltd., Provins Business Co. Ltd., Revolution Dancewear, LLC. , SF DancegearWaterloo and Wearmoi Dancewear.
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