Growing Financial Extravagance of the Affluent Millennials in the Child-Bearing Age to Drive the Global Maternity Apparel Market

The global market for Maternity Apparel is projected to exceed US$10 billion by 2024, sustained by demographic shifts in population worldwide guaranteeing increased spending on maternity wear, growing number of women in the workforce, and the resulting demand for fashionable maternity wear.

Maternity wear today is a huge market, and is growing continuously with several fashion designers launching novel and specialized clothing lines, designed specifically for the pregnant women. The market for Maternity Apparel has undergone significant transformations over the past few years. Gone are the days when maternity wear was considered to be voluminous or bulky clothing that made a pregnant lady look bizarre or odd. Fashionable, trendy, comfortable, and sharp dresses and gowns define today's maternity wear market. Comfort and fashion have taken center stage in today's maternity clothing. Accessories, such as chunky necklaces, stoles, shrugs, and even scarves have become an indispensable part of the maternity wear market. Several new trends in the market are beginning to take shape, promising manifold opportunities for the future. Despite birth rates lower in developed markets, designers and manufacturers are focused on offering stylish apparel moving away from shapeless, over-sized and pajama-type clothing to trendy outfits that resemble regular clothing offered by renowned brands.

Growth opportunities await the maternity wear market in the coming years as the professionally and personally mature millennium generation attains child bearing age. Close to 70 million children of the baby boomer population born from 1977 onwards are expected to drive the future of the maternity wear market. Given the rising affluence of happy millennial parents, customer satisfaction and value represent the two most important factors. The maternity apparel market is also witnessing exponential gains posted by formal maternity wear, which is attributed to increasing number of working women globally. Career-oriented women tend to have babies once they settle down in their careers, which allow them to spend more on maternity apparels. Moreover, an increasing number of women who work until the last trimester are also opting for formal maternity wear. In the coming years, the maternity apparels market is anticipated to gather more steam owing to rising sale through online channels; launch of radiation-proof, organic clothing; and introduction of innovative innerwear. Several famous Hollywood celebrities now endorse maternity wear, thereby further benefiting market prospects.

The United States represents the largest market worldwide, followed by Europe. Demand for maternity apparel in these countries is fueled by willingness of millennial moms to purchase premium labels to look stylish and comfortable through and beyond their pregnancy. Asia-Pacific represents the fastest growing market with a CAGR of 5.9% over the analysis period, supported by rising affluence, expanding retail infrastructure, rising women participation in the corporate world, increasing fertility and birth rates in countries such as China and India, and growing preference for Western styled maternity wear.

Key players in the market include ASOS plc, Blossom Mother and Child Limited, Cake Maternity, Clary and Peg, Destination Maternity Corporation, Envie de Fraises SAS, Isabella Oliver Ltd., Jojo Maman Bebe Ltd., Mamas & Papas (Retail) Limited, Mothercare plc, Ripe Maternity, Seraphine Ltd., The Gap, Inc., Thyme Maternity, and Tiffany Rose Ltd., among others.

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