The global wedding dress market is projected to witness remarkable growth between 2017 and 2022. The wedding industry exhibits diversity worldwide, which comes from a variety of types and traditions that are involved in ceremonies of different cultures, ethnic groups, and countries. Rapid expansion in this industry in developing and developed countries is likely to have a positive impact on the market. The marked significance of wedding dresses among brides for getting a graceful and splendid look on the day of wedding is a key factor driving the market.
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Traditions and rituals performed in marriages are based on both religious and personal preferences of both the parties involved. The continued faith in the sanctity and institution of marriage among several cultures is expected to stimulate the growth of the market. Nowadays, designers are introducing low-priced bridal gowns for brides willing to have a budget wedding. Influx of elegant yet affordable wedding dresses is poised to augment the market. In addition, advent of wedding dresses with a variety of designs, workmanship, styles, and fabrics is anticipated to trigger the adoption rate.
Marketing plays an imperative role in the wedding industry. Rising prominence of event management companies in organizing wedding ceremonies along with lavish spending on weddings is working in favor of the market. Growing influence of celebrity weddings and social media is also likely to aid the market gain significant momentum. Celebrity weddings act as promotion and advertisement agents for market players as they help rake in more investors and customers. For instance, in recent time, the royal wedding of Meghan Markle and Prince Harry of Wales has created a great buzz about the wedding gown of the bride.
Widening base of millennials of marriageable age is estimated to stoke the growth of the wedding dress market. Entry of online retailers in the market coupled with the flourishing e-commerce is translating into the greater sales of bridal dresses worldwide. In addition, launch of exotic wedding wear by online retailers is expected to provide a fillip to the market in near future.
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On the other hand, changing social beliefs, including increasing cases of cohabitation are keeping the market from realizing its utmost potential. Moreover, growing number of cultural groups that dissuade hefty spending on weddings can deter market growth. However, wedding dresses made up of innovative materials, designs, and styles are captivating the attention of millennials. This is anticipated to create ample growth opportunities for bridal gown designers.
The global wedding dress market has been segmented on the basis of type, application, and geography. Based on type, the market has been divided into crepe, chiffon, charmeuse, brocade, batiste, and others. By application, the market has been classified into photographic studios, personal purchase, wedding consultant, wedding dress renting service, and others.
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From a geographical standpoint, the segments analyzed in the report are North America, Southeast Asia, India, Europe, Japan, and China. Southeast Asia and India will account for a substantial cumulative share in the global arena through 2022. Rising affluence of the populace along with increasing spending in weddings in several developing countries is contributing to the growth of the market in the regions. Burgeoning e-commerce is also fueling the demand for bridal attires in the regions.
North America and Europe wedding dress market will register noteworthy CAGRs from 2017 and 2022. The growth of the regions can be attributed to spiraling popularity of designer wedding dresses among the populace. Continual innovations in fabrics, styles, and designs of bridal gowns are supplementing the growth of the regional markets.
Some of the key companies in the wedding dress market for wedding dress are Rosa Clara, Pepe Botella, White One, Alfred Angelo, and Pronovias.
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