World Bridalwear Market to Reach US$53 Billion by 2010, According to New Report by Global Industry Analysts
Driven by the rise of the Millennials in the population mix, and backed by strong economic growth, rising standards of living, affluence, and sophistication of brides, the world bridalwear market is projected to reach US$53 billion by the year 2010. Higher purchasing power, a keener sense of personal style, and the tendency to marry later in life, when older, mature and financially stable, are all factors which are leading to a rise in wedding spends, especially for bridalwear.
San Jose, California (PRWEB) November 5, 2007 -- World bridalwear market stands enthused by the coming of age of the "Millennials", who are children of the aging baby boomers. In the United States alone, the number of Millennials aggregate to over 80 million as against the 45 million baby boomers of the yesteryears. Exposed to money, pomp, glamour, and cutting edge technology, the Millennials is a lucrative demographic group expected to drive growth in the market. The implications boded by this demographic trend for the bridal jewelry category is huge and comes in the form of a 25% growth compounding through the years to 2015. Fashion trends in bridalwear are fairly stable with styles and color fads always reverting back to simplicity. The unchanging popularity of white, flowing, Cinderella styled princess gowns complete with veils, and high-heeled shoes, continues even to the present day, notwithstanding the modern day brides initial desire to look, fashion-forward, unconventional, and radical in bold colors. The fashion fantasy revolving around the bridal gown often crumbles, and the final purchase decision almost always culminates to the traditional, practically styled dress with a 'barely there' color change that offer sobriety, elegance, color, and tradition. Subtle contemporary trends are nevertheless evolving to become part of the timeless mainstay in bridal fashion Ultrafeminine gowns with stylish cuts, bare backs and plunging necklines, yards of elegant fabric, including tutle, satin, lace and organza, laced with shimmering with beads, crystals, rhinestones and handmade silver embellishments, are rising in popularity. Popular choice of colors includes white, oak, crème and champagne.
Innovation in merchandizing bridal products is helping drive demand. Retailing practices today, revolve around building vibrant customer relationships through offering customer-oriented services and value added products that guarantee customer satisfaction. Manufacturers and retailers are beginning to harness the power of internet wedding directories in an attempt to penetrate deeper into the industry. Internet marketing, therefore, is beginning to make its presence felt in the bridal marketplace with both online, and traditional vendors polishing up their websites with easily navigable search engines, and loads of new product related information.
As stated by the recent report published by Global Industry Analysts, Inc., world bridalwear market is dominated by the United States, Europe, and Japan, with a combined share of over 88.42% estimated in the year 2007. Growth is expected to stem from the United States, with a projected CAGR in excess of 12% over the period 2000 through 2010. Bridalwear market in Japan and Australia, together, is expected to rise by US$2.9 billion between the period 2007 through 2010. In Europe, Germany, United Kingdom, and France, together, collar over 63% of the market, with Italy, a noteworthy market, poised to grow by US$468 million between the period 2007 to 2010. Revenues in the Scandinavian bridalwear market are expected to rise by 29.6% between the period 2007 to 2010. By the year 2015, the Australian market is projected to reach US$840 million. By the same year, Latin America is portended to corner over 6.71% of the world market.
Leading players operating in the industry include Alfred Angelo Inc, Macy's Inc., Creations Bridal & Fabric Boutique, David's Bridal Inc., Harrods Ltd, Helen Rodrigues Bridalwear, Justin Alexander Limited, JLM Couture Inc, Paloma Blanca, and Pronuptia de Paris SA.
The report titled "Bridalwear: A Global Strategic Business Report" published by Global Industry Analysts, Inc., provides a comprehensive review of the market trends, drivers, issues, challenges, fashions trends, consumers, their tastes, preferences, purchasing patterns, and couture design trends. Richly annotated with authoritative, and unbiased commentaries, and hard-to-find statistical facts, the report provides unequivocal views on future potential while throwing light on the prevailing climate in key regional markets. Latent demand patterns for bridalwear are quantified across major geographic market verticals including the United States, Canada, Japan, France, Germany, United Kingdom, Italy, Spain, Scandinavia, Australia, and Latin America. Also provided in the report is an enumeration of recent mergers, acquisitions, and other strategic industry activities.
For more details about this research report, please visit www.strategyr.com/MCP-1033.asp.
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs more than 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of more than 60,000 smaller research products including company reports, market trend reports and industry reports encompassing all major industries worldwide.
Global Industry Analysts, Inc.
Telephone 408-528-9966
Fax 408-528-9977
Email press @ StrategyR.com
Web Site www.StrategyR.com
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