The prom dress market size was valued at USD 14.14 billion in 2023 and is expected to be worth USD 14.81 billion in 2024. The market is projected to reach USD 22.56 billion by 2032, recording a CAGR of 5.40% during the forecast period.
Prom dresses are formal or semi-formal dresses that are usually worn to prom and other prom-like social and formal events. These dresses are quite elaborate and elegant, containing detailed embroidery and are made from luxurious fabrics. The growing presence of fashion influencers on social media platforms and increasing collaborations between fashion brands and key market players are some of the leading factors driving the market growth.
The COVID-19 outbreak had an adverse effect on the functioning of this market due to the introduction of lockdowns, which restricted large gatherings to a great extent. Many schools and universities across the world had to cancel or postpone proms to abide by the government-imposed rules, which impeded the demand for these dresses.
Fortune Business Insights™ displays this information in a report titled, “Prom Dress Market, 2024-2032.”
Top Key Player Covered in the Prom Dress Market:
- Adrianna Papell (U.S.)
- Carolina Herrera (U.S.)
- Rosa Clara (Spain)
- Pronovias (Spain)
- Jovani (U.S.)
- Oscar De La Renta (U.S.)
- Monique Lhuillier (U.S.)
- Terani Couture (U.S.)
- Marchesa (U.S.)
- Trixxi (U.S.)
Information Source: https://www.fortunebusinessinsights.com/prom-dress-market-109102
Segmentation:
Elegant Aesthetics of Long Prom Dresses Add to Their Popularity Among Young Customers
Based on size, the market is divided into long prom dresses and short prom dresses. The long prom dress segment might capture a dominant prom dress market share as these dresses are quite popular among the younger generation due to their chic and elegant aesthetics.
Wide Range Of Textures, Styles, and Aesthetics Offered Increases Their Use In Party Dresses
Based on fabric, the market is segmented into satin & lace, crepe & chiffon, organza, and others (tulle, metallic, sequin, mesh, georgette, jersey, velvet, and mikado). The others (tulle, metallic, sequin, mesh, georgette, jersey, velvet, and mikado) segment is predicted to lead the market’s growth. These materials can offer a wide range of textures, styles, and aesthetics which helps in expressing the creativity and individuality of designers and customers.
Ability to Physically Inspect Dresses Makes Offline Channels Popular Among Customers
Based on distribution channel, the market is classified into offline and online. The offline segment is dominating the market as these stores help shoppers physically inspect the quality and fabric of the dress before purchasing it, thereby preventing them from buying low-quality attires.
With respect to region, the market covers North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Report Coverage:
The report has studied the market in depth and highlighted major areas, such as top fabrics, dresses, and leading distribution channels. It also provides important insights into the top industry developments and the leading market trends. In addition to the factors listed above, the report covers many other factors that have contributed to the market’s progress.
Drivers and Restraints:
Growing Influence of Social Media Platforms on Fashion Industry to Support Market Outlook
Social media platforms, such as Instagram, TikTok, and Facebook have created a major impact on the fashion choices of customers, so much so that the fashion industry is also noticing the changes in their customers’ preferences. This factor has encouraged leading fashion brands to reach out to fashion influencers on social media to promote their latest collections. This scenario can positively impact the sales of party dresses from these fashion houses, which will further contributes to the prom dress market growth.
However, the prices of raw materials are constantly changing, which can drive up the manufacturing costs. This can dissuade price-sensitive customers from buying these dresses.
Regional Insights:
Early Adoption of Popular Fashion Trends Helps North America Dominate Global Market
North America is dominating the global market as the region is one of the early adopters of the latest and most popular fashion trends. Teenagers across the region are browsing various social media platforms to stay updated on the latest fashion trends and make their purchase decisions for prom gowns accordingly.
Asia Pacific is also showing major growth in the global market due to the growing influence of the Western culture in this region.
Competitive Landscape:
Collaborations Between Key Market Players and Fashion Brands to Help Both Boost Brand Value
A growing number of leading companies operating in this market are entering partnership deals with reputed fashion houses to produce high-end party gowns for customers attending proms and other formal events. Moreover, since leading fashion brands have a strong reputation in the industry, more customers will purchase their prom dresses these companies. This can further motivate key market players to collaborate with these fashion houses to help both of them expand their business operations and boost their brand value.
Notable Industry Development:
- October 2023: Glamorous Gowns, a leading company in the U.K., launched its new branch in Wymondham, which features new collections of dresses.
