The underwear and lingerie market features an astounding array of products that range from everyday essentials to indulgent luxury products. In a market with products at two ends of the spectrum, demand dynamics can vary from one consumer class to another. This wide-ranging consumer base of the men’s underwear and women’s lingerie market, will, however, ensure that the market exhibits a steady rate of growth. According to a report published by Persistence Market Research, the U.S. men’s underwear market will register a CAGR of 5.1% from 2015 to 2021 whereas the market for women’s lingerie will have a CAGR of 5.4% during the same period. The valuation of the men’s underwear market in the United States was pegged at US$3.23 bn as of 2015.
Emphasis on Personal Hygiene and Broadening of Retail Formats Augur Well for U.S. Men’s Underwear and Women's Lingerie Market
More consumers in the United States now have access to several underwear and lingerie brands via supermarkets, pharmacy stores, and discount stores. This easy availability of men’s underwear and women’s lingerie not only encourages planned purchases but also impulsive purchase decisions. More consumers are also focusing on maintaining better personal hygiene, and clean underwear is a critical part of this.
However, purchase decisions are impelled by more than just the need to maintain good personal hygiene. The effect of celebrity endorsements and high-profile fashion events has prompted several consumers in the United States to splurge on premium underwear and lingerie brands. However, competition in the U.S. men’s underwear and women's lingerie market is rife. This high degree of competition will ensure that consumers are the gainers, but will make sustenance in rather challenging for competing players.
Demand for XXXL-size Undergarments for Men to Show Rapid Growth
In the U.S. men’s undergarments market, the demand for L-size underwear has been the highest. However, owing to the rising obesity levels in the United States, the demand for XXXL-size undergarments will grow at the fastest rate, predicts PMR. Male consumers in the United States will continue to generate appreciable demand for boxer briefs, which is the largest segment of the U.S. men’s undergarment market by product type. The boxer brief segment will have a 34.9% share in the U.S. men’s underwear market by the end of 2021. Also, underwear designed for men over the age of 65 years will contribute the highest share of revenue to the U.S. men’s underwear market by 2021.
Among Female Consumers in U.S., Demand for Brassieres to Remain Higher than Other Lingerie Products
Women in the United States are expected to purchase more brassieres than other any lingerie product over the next five to six years, finds PMR. The sale of medium-size lingerie for women will remain the highest in the next few years. More women will also be willing to spend on premium lingerie products. PMR estimates that the premium price range segment will have a 6.8% CAGR in revenue from 2015 to 2021. In the U.S., of lingerie meant for women aged 65 years and above accounted for slightly less than 20% in the U.S. women’s lingerie market. The demand for lingerie for this age group will grow at a steady pace.
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