Dancewear Market provides strong revenue visibility in Near

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Easy availability of various dancewear products is an important factor driving the growth of dancewear market. Discounts on dancewear items offered by online retailers are gaining consumers’ interest.

According to a new report published by Allied Market Research, titled Dancewear Market, the dancewear market size was estimated at US$1.1 billion in 2020 and is projected to reach US$1.7 billion by 2030, which is by 2021 up to an annual growth of 4.8% equates to 2030. Dancewear is a type of clothing and footwear that comes in a variety of colours, fabrics, materials, sizes and designs suited to a specific range of dance genres. It meets aesthetic requirements and at the same time an increasing participation in dance is carried out.

It’s growing in popularity not only with mainstream superstars performing at events, but also with dance schools, gyms, and zumba classes. No longer limited to old-fashioned garments worn only for dancing, dancewear has been launched in athletic styles, body-hugging designs and upgraded textiles that can be worn for working out and yoga activities. The dancewear industry has become extremely competitive as many major companies strive to introduce new trends and fashion design start-ups invest in dancewear in a variety of colors and styles.

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The availability of dancewear in a variety of bright colors, printed designs, geometric designs, increased fabric flexibility and comfort, ballet dancewear, custom costumes, designs similar to those of mainstream dancers, and the availability of multiple artist collections have all contributed to the development of new dancewear market trends. Leading companies spend more on sustainable processes and higher quality dancewear.

For example, Zarely, a dancewear company, has created a range of geometric patterns, asymmetrical tops, a combination of classic and modern dancewear and sportswear that can be worn as dancewear and in any other occasion. The availability of high quality dancewear products is expected to fuel demand in the dancewear market.
However, the availability of counterfeit products is affecting the entire apparel industry and dancewear market growth. Counterfeiting can cause governments to refuse to spend money for fear of losing product protection. In addition, they have a significant impact on businesses, as premium brands derive their distinctiveness from reputation and limited availability.

Counterfeits pollute the supply with similar looking items of lower quality and are not made with the same care. Businesses suffer from a lack of Intellectual Property Rights in more ways than one. It is not only a direct loss of income, but also a loss of brand image. Using a brand’s trademark attracts consumers to buy the product at a very low price as individuals are able to purchase the product which is 5 to 10 times more expensive in the market. A brand is a company’s most valuable asset and is exploited by counterfeit items. As a result, growth in the dancewear sector is slowing and could only pick up again if the government bans the sale of counterfeit goods.

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The global dancewear market is segmented into product type, application, end-user, distribution channel, and region. On the basis of type, the market is categorized into Bodywear, Footwear and Accessories. Upon application, it is divided into theater, concerts, entertainment industry and others. According to the end user, it is fragmented into men, women and children. Depending on the sales channel, a distinction is made between specialist shops, online channels, hypermarkets/supermarkets and others. In terms of regions, it is distributed in North America (US, Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, and the rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and the rest of Asia Pacific) and LAMEA (Brazil, Argentina, Saudi Arabia, South Africa and the rest of LAMEA).

Key Findings of the Study
On the basis of type, the Bodywear segment is forecast to register the highest CAGR of 4.0% in terms of revenue during the forecast period.
· From 2021 to 2030, the “Other” segment is expected to dominate the market.
Depending on the end users, the female segment is projected to register the highest revenue share during the forecast period.
· Per distribution channel, the online channels segment is expected to grow at a significant CAGR during the forecast period.
· The United States was the largest country in terms of revenue generation for the dancewear market in 2020.
Asia-Pacific is expected to register the highest growth rate, registering a CAGR of 6.1% from 2021 to 2030.

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Players operating in the global Dancewear Market have adopted various development strategies to expand their Dancewear market share, increase profitability, and stay competitive in the market. Major players featured in this report include Ballet Makers, Inc, Bloch International, Bullet Pointe, LLC, Flo Dancewear Pty. Ltd, Grishko Dance SRO, Onward Holdings Co., Ltd., Provins Business Co. Ltd., Revolution Dancewear, LLC , SF DancegearWaterloo and Wearmoi Dancewear.

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Allied Market Research, a market research and consulting firm of Allied Analytics LLP, provides business insights and market research reports to both large and small to medium-sized companies. The company supports its customers in strategically aligning their business policies and achieving sustainable growth in their respective market areas.

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