ID: PMRREP32556| Upcoming | Format: PDF, Excel, PPT* | Consumer Goods
According to the latest research by Persistence Market Research, the intimate wear market is set to witness steady growth during 2021-2031, with a CAGR of around 8%. Demand for intimate wear will witness steady recovery in the short term as the manufacturers are emphasizing supplying products that are made of premium quality and are comfortable enough, making them a part of everyday clothing.
The rapid urbanization and consistent development in the demographics across the arising economies emerge as some of the basic reasons to anticipate the growth in the volume of intimate wear sales.
Availability of vast and explored product offerings through numerous distribution channels and development in the quality of material used for production to enhance the customer experience are the key factors responsible for boosting the intimate wear sales in the forecast period.
Moreover, in the current era, the populace is emphasizing improving the lively hood of an individual, which further allows them to work in any industry and growth with it. Further, the manufacturers are occupied with the tendency to deliver sensational products and a replica of the expected result in the intimate wear.
They have heavily invested in their R&D facilities to the outlook of the intimate wear products to fulfill the customer’s needs and requirements.
Small or big, all organizations evolve with the demand of the customers and in the meantime have realized the importance of implementing processes to spread their product portfolio worldwide. Online business retailing represents unmentionable circulation and branding of products and be able to learn, and supply products as requested by any kind of customer.
Online channels favor to all customers, especially the millennials as it offers them with discounts, coupons, and products that are embraced and trending.
With the major investment in the development and implementation of organized online retailing, followed by ensuring the customers with high-quality products are helping the players of the intimate wear segment to grow.
In addition, digital platforms allow the manufacturers and suppliers to study and learn about regions having a high demand for a particular product, which creates opportunities for the sales of intimate wear to grow.
The outbreak of the pandemic due to the spread of the deadly virus had affected the economies and working of industries worldwide due to the implementation of complete lockdown, the closing of stores, travel bans, curfew, and shutdown of business to control the situation.
However, with the various steps taken by the regional government as an issue of vaccination and unwinding the lockdown for the running of the essential business to survive, sales of intimate wear are anticipated to grow.
The fashion and clothing industry had suffered a huge loss during the pandemic as it resulted in a fall in production due to the lack of employees in the factories and the shortage of material used for production.
Further, the populace preferred staying home which affected the demand and launch of new trends of the intimate wear segment. Further, it reduced job opportunities for many employees in the segment.
North America is segmented into U.S. and Canada for the intimate wear segment. The regions are accounted for one of the largest regions for the growth in volume sales of intimate wear as the manufacturers are supplying products, which are designed with the knowledge of customer preferences, which are to maintain the appearance and enhance the personality.
Therefore, in the given forecast period the sales for intimate wear are to grow.
Further, the fast-growing technologies and globalization have enabled the customers to share and update themselves with the latest trends in the segment, rising the opportunities for the players. The region consists of a wide scope of customers who prefer digital purchases, which allows manufacturers to run their business digitally and grow their customer base worldwide.
The innovative launch of new products coping with the latest trends is one of the components influencing intimate wear sales.
Europe is one the biggest hubs of intimate wear, as the region consists of many key players based in the huge spread areas. The region consists of trending intimate wear products that are fancy and fashionable among the female populace, which is further driving the demand for intimate wear sales.
The evolving customers and rise in independent new age-customers with the latest fashion awareness are further to grow the sales of intimate wear.
Additionally, the increase in demand for comfortable, unique, fashionable intimate wear products, which are for everyday purposes, is driving the demand for intimate wear products. Manufacturers are investing in innovation to supply a new range of fabrics and color designs to deliver trendy intimate wear suitable for various activities.
Further, the use of premium material, weaving, more splendid shades and shapes, which will boost the volume sales of intimate wear.
Some of the leading manufacturers and suppliers of intimate wear include:
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company.
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The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments.
The report also maps the qualitative impact of various market factors on market segments and geographies.
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