Sleepwear wear is an apparel worn at night time to facilitate sound sleep. The report encompasses a detailed study of the sleepwear market. For the purpose of analysis, the report segments the market on the basis of end user, distribution channel, and region. The study highlights key end users of sleepwear, which include men, women, and kids. Furthermore, it provides information about the sale of sleepwear through various distribution channels such as online, supermarket/hypermarket, discount stores, and others (specialty stores and independent street stores). In addition, the report analyzes the market across four major regions, including North America, Europe, Asia-Pacific, and LAMEA.

Recycled textile is obtained through recycling and recovering of old clothing and waste fibrous materials through several treatments. Recyclable textiles are mostly found in municipal waste from sources such as old or discarded clothes, tires, footwear, carpets, furniture, and non-durable goods such as sheets and towels. The use of recycled textiles reduces pressure on virgin resources such as wool & cotton, pollution, and water & energy consumption. The low cost of recycled products in comparison to virgin products is also expected to boost the overall growth of the recycled textile market. However, increase in processing cost combined with low-quality job offerings hampers the recycled textile market growth. Meanwhile, the development in recycling technologies is anticipated to provide growth opportunities for the recycled textile industry. The recycled textile market is segmented into type, end-user industry, and region. Depending on type, it is segmented into recycled cotton, recycled wool, recycled polyester, recycled nylon, and others. On the basis of end-user industry, it is divided into automotive, retail, mining, building & construction, and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA (Latin America, Middle East, and Africa).

行情回顾：全周沪深300 指数上涨2.37%，创业板指数上涨2.34%，纺织服装行业指数上涨1.12%，表现弱于沪深300 和创业板指数，其中纺织制造板块上涨0.49%，品牌服饰板块上涨1.58%。个股方面，我们覆盖的太平鸟、华孚时尚和歌力思等获得了正收益。

行情回顾：近一月中信纺织服装指数-0.01%，其中纺织制造和品牌服装分别-3.02%和+2.32%，沪深300 指数+1.24%。从估值上看，纺织制造/品牌服装PE 环比分别10.69%/-2.85%，达77/34 倍。从个股表现上看，探路者、太平鸟、九牧王涨幅居前，御家汇、爱迪尔、安正时尚跌幅居前。

伴随稳健医疗、豪悦护理、百亚股份三家新股密集上市，叠加前期上市的延江股份，A股形成了涵盖从“原材料”到“加工制造”到“品牌商”的吸收性卫生用品的全产业链条。四家公司组成的板块成长性优异且呈现出逐渐加速的迹象，我们计划通过吸收性卫生用品专题报告，对该行业进行拆分以发掘投资机会。本周，我们推出吸收性卫生用品系列Ⅰ——供应商&制造商。

The costume jewelry market was valued at $ 32.9 billion in 2019, and is estimated to reach $ 59.7 billion by 2027, registering a CAGR of 7.80% from 2019 to 2027. In 2019, the female gender segment accounted for more than half of the share in the total costume jewelry market, and is expected to grow at a CAGR of 7.60% throughout the forecast period. Costume jewelry is fashion accessory used to compliment an outfit. Raw materials used to produce such type of jewelry is made of less precious materials as compared to precious materials such as gold, diamond, and gems. For instance, glass, plastic, semi-precious stones, beads, leather, aluminum, brass, and others are the raw materials used in the making of costume jewelry. Increase in consumer preference for fashionable and affordable jewelry is expected to foster the growth of the market. The adoption of costume jewelry has been significantly high in mature regions such as the U.S., Canada, and Germany, while emerging countries such as China, Brazil, and India are catching up rapidly. Costume jewelry has been gaining traction in emerging market, owing to change in lifestyle, rise in disposable income, and surge in prices of precious metal jewelry. Furthermore, increase in fashion consciousness and surge in adoption of jewelries such as necklaces, rings, and bracelets among female consumers drive the market growth. Moreover, change in packaging styles of jewelry products fuels the costume jewelry market growth. In addition, aggressive advertisements and celebrity endorsement have helped the costume jewelry industry to pave its way toward growth. However, factors hindering the market growth are rise in prices of raw materials used for costume jewelry and limited period popularity of the jewelry.

疫情影响行业增速，Q2 逐渐呈现恢复态势。以品牌服饰板块重要公 司为样本，2020H1 营业收入/归母净利润分别同比-19%/-46%，其中， Q1/Q2 营业收入分别同比-29%/-8%，净利润分别同比-59%/ -28%。 运动鞋服板块整体表现优于行业平均水平，大众和中高端服饰板块 表现分化。

mmary＃  2020H1，SW 纺服板块跑输沪深 300。2020H1 大盘及纺织服装板块均受 线下消费下跌影响严重，而纺织服装板块跌幅大于沪深 300。2020H1 沪 深 300 指数上涨 2.24 %，SW 纺织服装板块整体下跌 3.62%。纺服二级子 版块起落较为一致，其中，服装家纺子板块主要受到国际贸易环境变化以 及终端零售消费走弱的影响下跌 0.93，涨跌幅均弱于纺织制造板块，而纺 织制造板下跌 8.60%。纺织服装板块在所有板块中排名 21 位。

轻工制造行业目前约占全部A 股总市值1.39%。我们选择轻工制造行业中120只有代表性股票作为分析样本，将轻工制造行业分为造纸、包装印刷、家具、珠宝首饰、文娱用品、其他家用轻工6 个细分行业，按照2020 年9 月4 日收盘价计算总市值为11,066.49 亿元，占沪深两市A 股总市值1.39%。