The relaxation of overseas epidemic control will boost the growth of the wedding dress market
Wuhan Xingqihang was informed that according to Chaozhou customs data, Chaozhou wedding dress exports in the first quarter of this year were 180 million yuan, a year-on-year increase of more than 116%.
With the rapid economic growth, my country's wedding industry has become an emerging industry with huge potential. Among them, the wedding dress is undoubtedly the largest wedding industry project in China. Various data show that China is the world's largest exporter of wedding dresses, and nearly 90% of the world's wedding dresses are produced in China.
At present, with the relaxation of epidemic control, the number of overseas weddings is rising again. In 2022, 2.5 million new couples entered the auditorium in the United States, the highest number since 1984. That same year, France is also expected to host around 250,000 weddings, up from 200,000 in previous years.
The relaxation of epidemic control and the increase in the number of overseas weddings have brought a significant boost to the wedding dress market.
In April of this year, CCTV Finance reported that with the increase of weddings held in various countries, many Chinese export enterprises have already placed their orders in August and September. Relevant suppliers also said that the number of wedding dress orders has surged until 2023.
Research and Markets predicts that the global wedding dress market will be approximately US$61.1 billion in 2022, with a compound annual growth rate of 3.9%, and is expected to reach US$69.9 billion in 2026. The size and growth rate of the wedding dress market in various countries are also considerable:
The United States remains the largest wedding dress market, accounting for 44.16% of the global market. As inflation continues, the U.S. wedding dress market will reach approximately $27 billion in 2022.
It is estimated that the size of China's wedding dress market will reach US$6.8 billion in 2026, with a compound annual growth rate of 5.8%.
In Europe, Germany is expected to grow at a CAGR of about 3.7%, with other markets reaching USD 1.9 billion in 2026.
Other notable ones are Japan and Canada, which are projected to grow by 3% and 3.6%, respectively, between 2022 and 2026.
There is still room for growth in the global wedding dress market in the future.
For cross-border sellers, in order to seize this market opportunity, in addition to avoiding problems such as insufficient product innovation and infringement risks, it is also essential to pay attention to the market trend of wedding dresses.