The size of the global loungewear market is expected to reach $12.79 billion by 2030 from the current market size of $5.70 billion.
According to a recent report released by Reports and Data, the category is expected to register a revenue CAGR of 9.30% over the forecast period.
The data also said that the consumer desire for casual attire increased the popularity and demand for the loungewear category.
Increased outdoor activities like gym and yoga, as well as shifting consumer preferences are factors driving revenue growth of the market, the data showed.
Moreover, online shopping has made a significant shift in the category as most online retailers educate customers on trends and product information.