Global Bridalwear Market to Reach US$56.5 Billion by 2015, According to a New Report by Global Industry Analysts, Inc.

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GIA announces the release of a comprehensive global report on Bridalwear market. Global bridalwear market is forecast to reach US$56.5 billion by the year 2015, charged by the increasing number of millennial generation adults coming of age, rising affluence levels and the strong desire to look exceptional in a special bridal dress. The upbeat, unrelenting attitude of brides to compromise and skimp on everything, but their wedding dresses is a major factor providing buoyancy to the industry even during tough, economic circumstances. The season of marriages can never go out of fashion, literally, making the bridalwear industry almost resilient to onslaughts of cultural or economic changes.

Bridalwear: A Global Strategic Business Report

A banquet of opportunities awaits the bridal industry in the upcoming years. With the younger generation coming of age, there exists an increased likelihood of a spurt in the number of weddings in the upcoming years. The Bridalwear market is forecast to fly towards a bright future, despite a temporary slow down in growth during the years 2008-09, caused by the global recession. Interestingly, fashion trends in bridalwear have been fairly stable through the years, and are no victim to the vagaries of stylish notions. Despite the clamor, and noise about the impact of cutting edge fashion, and the changing liberalized ideas on sexuality, fashion trends in bridalwear are timeless, unforgettable, and slow to bow out and make way for radical, and hip fads. Unchanging popularity of white, flowing, princess-styled gowns complete with ruffles, lace, veils, and high-heeled shoes, make bridalwear an evergreen and highly lucrative market. This trend continues to the present day, notwithstanding the modern day brides’ initial desire to look fashion-forward, unconventional, and radical in bold colors.

Changing attitudes of Gen-X bride and groom in terms of shared financials, child, home and social matters paves the way for equal participation of both partners in all purchasing decisions. Bridal magazines, shows, online catalogs, Internet journals, advertisements and special interest periodicals offer reliable and informative reviews to the young couple. There is ample information, right from choosing the right engagement ring by carat weight, cut and clarity of diamonds. Typically, the bride’s parents represent the target customer group as they primarily meet the majority of wedding expenses. Recently, however, there has been an increasing trend towards couples paying for their own wedding expenses, or atleast a sizeable chunk. Couples also tend to marry only when they are more financially stable and secure, thereby leading to increased expenditure on weddings.

Prior to the recent recession, the global wedding industry thrived as a result of the then strong economic growth, high standards of living, affluence and sophistication that crept through the culture of weddings world over. The robust growth however, was halted by the recession in the years 2008 and 2009, and led the market towards a period of drastically reduced averaged spending on weddings and smaller number of weddings solemnized. Lavish weddings came down in numbers and all related business such as the wedding planners and photographers, witnessed low business during the slump period.

While this was the scenario in the larger wedding industry globally, the niche bridalwear segment, more particularly the market for bridal gowns witnessed above-average business, even as the economy world over slowed down. There were however, several notable trends that emerged in the bridalwear industry during the recent recession. Renowned designers and producers, earlier known for making only five-figure wedding ensembles, came up with low cost and affordable collections to appease the budget conscious and suit the general mood of the times. Another prominent trend was the increase in purchases of second-hand wedding gowns and jewelry. Websites engaged in the business reported increased registrations as well as purchases of used gowns, jewelry and other accessories. It is also to be noted that the negative impact of recession was more on the budgetary and mid-market bridal wear than on the high-end market.

The US and Europe literally govern the bridalwear market, amassing the majority share of the world market, dictating fashion trends and norms followed by the rest of the world, as stated by the new research report on Bridalwear. Although the Japanese market follows at a distance due to its relative small size, the overall potential to expand in the years ahead cannot be denied. However, the European region, powered by markets including Spain, UK, Germany and France is projected to surge ahead at the overall fastest compounded annual rate of about 6.5% through 2015.

The bridal industry is highly fragmented with a handful of few large retailing chains, and numerous small independent niche retailers. Players in the market face stiff, unconventional competition from departmental stores, which stock bridalwear and related accessories.. Independent, professional fashion designers who custom design and tailor wedding gowns also pose a significant challenge to full-fledged commercial retailers of bridalwear. Key participants in the market include Alfred Angelo Inc, Macy's Inc., David's Bridal Inc., Harrods Ltd, Helen Rodrigues Bridalwear, Justin Alexander Limited, JLM Couture Inc, Paloma Blanca and Pronuptia de Paris SA.

The research report titled “Bridalwear: A Global Strategic Business Report” announced by Global Industry Analysts, Inc., provides a comprehensive review of the current market/fashion trends, drivers, issues, consumer tastes, purchasing patterns, product innovations, recent industry activity and profiles of companies worldwide. Analysis and overview is provided for major geographic markets such as the United States, Canada, Japan, Europe, Australia, Latin America and Rest of World. Market analytics are provided in value (US$) terms. The study also provides historic data for an insight into market evolution over the period 2000 through 2006.

For more details about this comprehensive market research report, please visit –
http://www.strategyr.com/Bridalwear_Market_Report.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 over 800 people worldwide and publishes more than 1200 full-scale research reports each year. Additionally, the company also offers thousands of 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(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/

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