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Lingerie Market

Market Study on Lingerie: Growing Urbanization and Rising Disposable Income, PMR Foresees Various Opportunities for Lingerie Manufacturers on the Horizon!

A Detailed Analysis of the Lingerie Market Based on Growing Technological Advancements, New Product Launches and Urbanization.

Lingerie Market

The global Lingerie market is forecasted to expand at a CAGR of 6.3% and thereby increase from a value of US$ 92,471.6 million in 2023 to US$ 141,821.2 million by the end of 2030.

Attributes

Key Insights

Lingerie Market Size (2023E)

US$ 92,471.6 Million

Projected Market Value (2030F)

US$ 141,821.2 Million

Global Market Growth Rate (2023 to 2030)

6.3% CAGR

Historical Market Growth Rate (2018 to 2022)

5.8% CAGR

Revenue Share of Top Four Countries (2022E)

48%

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Market Introduction and Definition

The lingerie market encompasses a diverse range of women's undergarments and sleepwear designed for both aesthetic appeal and functionality. It includes various intimate apparel items such as bras, panties, shapewear, sleepwear, and hosiery. The market caters to diverse consumer preferences, offering a wide array of styles, sizes, and materials. Lingerie is not only considered a basic necessity but also a fashion statement, reflecting evolving societal trends and personal expressions. Key players in the industry, including well-known brands and emerging labels, contribute to the market's dynamism through innovations in design, sustainability, and inclusive sizing, meeting the evolving demands of a diverse and fashion-conscious consumer base.

The lingerie market is growing due to several factors. Changing societal norms and an increased emphasis on body positivity contribute to a diversified and inclusive range of lingerie offerings. E-commerce platforms provide greater accessibility, enhancing market reach. Innovations in design, materials, and inclusive sizing cater to diverse consumer preferences, fostering market expansion. The lingerie-as-outerwear trend and evolving fashion consciousness further drive demand. Additionally, the growing influence of social media and celebrity endorsements shape consumer choices. As the market continues to break away from traditional norms, embracing inclusivity, comfort, and style, the lingerie market remains dynamic and poised for sustained growth in response to shifting cultural and consumer dynamics.

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Market Growth Drivers

Growing E-commerce Industry Propelling the Lingerie Market

E-commerce growth is a key driver of the Lingerie Market as online platforms provide consumers with a convenient and discreet way to explore, compare, and purchase a diverse range of intimate apparel. The accessibility and ease of online shopping allow consumers to browse a vast array of lingerie styles, sizes, and brands from the comfort of their homes. E-commerce facilitates a personalized shopping experience, with features such as virtual try-ons, customer reviews, and size guides, contributing to increased consumer confidence in online lingerie purchases. The global reach of e-commerce platforms also enables consumers to access international brands and styles, fostering a more diverse and competitive lingerie market landscape.

The growing shift in demographics, particularly the rise of millennials and Gen Z consumers, is driving the Lingerie Market by influencing changing preferences and expectations. These younger generations exhibit a more open and inclusive attitude toward lingerie, seeking styles that reflect individual expression and comfort. As diverse body positivity movements gain traction, lingerie designs cater to a wider range of body types, resonating with the evolving mindset of younger consumers. The willingness of millennials and Gen Z to experiment with styles, embrace sustainability, and prioritize comfort contributes to a dynamic lingerie market landscape. Lingerie brands adapting to the shifting demographics are well-positioned to meet the diverse needs of these consumer segments, driving market growth.

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Market Restraints

Cost Sensitivity & Alternative Storage Options is Hindering Market

The growing cost of production poses a challenge in the Lingerie Market due to factors such as rising material costs, labor expenses, and the demand for innovative designs. Quality fabrics, intricate detailing, and a focus on comfort contribute to the complexity of lingerie production. Additionally, meeting sustainability standards and incorporating eco-friendly materials can add to production costs. As consumer expectations evolve, manufacturers face pressure to balance affordability with premium quality. Efficient cost management strategies, including process optimization and sustainable practices, are crucial for businesses to navigate the challenges posed by the growing cost of production in the competitive Lingerie Market while maintaining a balance between quality and affordability.

Regulatory Compliance & Environmental Concerns

Environmental concerns act as a restraint in the Lingerie Market due to the industry's ecological footprint associated with materials, production processes, and waste. The fashion industry, including lingerie, contributes to pollution, water usage, and chemical discharge. Consumers increasingly prioritize sustainability, prompting a demand for eco-friendly materials and ethical manufacturing practices. Lingerie brands face challenges in sourcing sustainable fabrics, implementing eco-conscious production methods, and managing end-of-life product disposal. As environmental awareness grows, brands adopting responsible practices stand to gain consumer trust and loyalty. The Lingerie Market's adaptation to sustainable fashion trends will be crucial in mitigating its environmental impact and aligning with the evolving values of eco-conscious consumers.

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Opportunities

Leveraging Smart Technology Integration to Propose Great Promise

Technology integration presents a significant opportunity in the Lingerie Market by enhancing functionality, design, and consumer experience. Innovations such as smart fabrics, temperature-regulating materials, and advanced manufacturing techniques contribute to the development of technologically sophisticated lingerie. Wearable technology, like smart bras with health-monitoring capabilities, aligns with modern consumers' desire for both innovation and functionality. E-commerce platforms leverage technology for personalized shopping experiences, virtual fitting rooms, and AI-driven recommendations. As the market evolves, technology offers opportunities to cater to diverse consumer needs, enhance product performance, and provide a competitive edge. Brands embracing technological advancements stand to captivate tech-savvy consumers, contributing to the continued growth and innovation within the Lingerie Market.

Growing personalization in the lingerie market is a key opportunity as it caters to individual preferences, enhancing customer satisfaction and loyalty. Tailoring products to unique styles, sizes, and comfort preferences creates a more enjoyable shopping experience. Customization options, data-driven insights, and the ability to adapt to changing trends provide brands with a competitive edge. In a crowded market, personalization stands out, leading to increased sales and a stronger connection with consumers, particularly in the online space where digital transformation facilitates seamless and personalized shopping experiences.

Analyst Viewpoint

What do our Analysts Predict for the Future of Lingerie Market?

The future of the Lingerie Market is characterized by evolving consumer preferences, sustainability initiatives, and technological innovations. Increasing demand for inclusivity, body positivity, and diverse sizing will drive the market, prompting brands to focus on customization and personalization. Sustainable practices, such as the use of eco-friendly materials and ethical production methods, will become integral to the industry's growth. Technology integration, including smart fabrics and advanced manufacturing techniques, will offer innovative and functional lingerie options. E-commerce platforms will continue to play a pivotal role, providing personalized shopping experiences and virtual fittings. As societal norms change and consumer awareness grows, the Lingerie Market is poised for a dynamic future, with an emphasis on adaptability, inclusivity, and sustainability shaping its trajectory.

Supply-side Dynamics

The demand-supply dynamics in the Lingerie Market are influenced by evolving consumer preferences, inclusive sizing demands, and sustainability considerations. The current pricing structure is shaped by material costs, design complexity, and brand positioning, impacting market accessibility. Long-term growth will be influenced by pricing strategies aligning with sustainability and technological innovation. Major trends driving competition include customization, body positivity, and the integration of technology for a personalized shopping experience. The supply chain involves raw material sourcing, manufacturing, distribution, and retail channels. Streamlining supply chains for efficient production, adopting sustainable sourcing practices, and embracing digital technologies for inventory management are crucial. In a competitive landscape, brands must adapt their supply chains to meet changing consumer expectations and emerging industry trends in the dynamic Lingerie Market.

Lingerie Market Segmentation

Which Product Type Are Expected to Benefit the Most from Revenue Generation?

Extensive Sales Briefs Due to Universal Appeal, Comfort and Practicality

Briefs, as a product type, have captured the largest market share in the Lingerie Market due to their universal appeal, comfort, and practicality. Briefs, including various styles like hipsters, bikinis, and high-waisted options, cater to a broad spectrum of consumer preferences and body types. Their versatile design makes them suitable for everyday wear, while advancements in materials and aesthetics contribute to their popularity. The enduring demand for classic, comfortable, and functional underwear positions briefs as a staple in lingerie wardrobes. Additionally, inclusive sizing initiatives by brands further enhance the market share of briefs by addressing diverse body shapes and sizes, making them a dominant and preferred choice in the Lingerie Market.

What Sales Channel Industry Will Be Targeted the Most for Installations?

Highest Percent Share Attributed to Online Distribution Channel Owing to its Convenience, Accessibility and Diverse Product Offerings

The Online Distribution channel has captured the largest market share in the Lingerie Market due to its convenience, accessibility, and diverse product offerings. E-commerce platforms provide consumers with a discreet and comfortable shopping experience, allowing them to explore a wide range of lingerie options from the privacy of their homes. Online platforms offer virtual fitting tools, personalized recommendations, and detailed product information, enhancing the overall shopping experience. The ability to browse and purchase lingerie at any time, coupled with the availability of various sizes and styles, contributes to the dominance of the Online Distribution channel. As digital connectivity continues to shape consumer behaviour, online retailing remains a primary and influential force in the Lingerie Market.

Top Regional Markets

Why is North America Emerging as a Dominating Region?

A fashion-conscious consumer base, higher disposable incomes to Fuel Growth for Easier Market Adoption

The North American region has captured the largest market share in the Lingerie Market due to several factors. A fashion-conscious consumer base, higher disposable incomes, and a robust retail infrastructure contribute to the dominance of this region. The market benefits from diverse consumer preferences and a cultural emphasis on lingerie as a fashion statement. E-commerce platforms provide convenient access to a wide range of lingerie options, further fueling market growth. Additionally, the presence of major lingerie brands and a culture that values personal expression through fashion solidify North America's leadership in the Lingerie Market. The region's proactive response to changing consumer preferences and a dynamic retail landscape further contribute to its significant market share.

What Opportunities Lies in Asia Pacific for Manufacturers?

Growing Urbanization to Advance Growth

The Asia Pacific region is experiencing the highest Compound Annual Growth Rate (CAGR) in the Lingerie Market due to several factors. Rising disposable incomes, urbanization, and changing lifestyles in countries like China and India contribute to increased consumer spending on lingerie. The region's large population and diverse market preferences present substantial growth opportunities. E-commerce proliferation facilitates easy access to a variety of lingerie options, particularly in countries with a strong digital presence. Additionally, the influence of Western fashion trends and the growing acceptance of lingerie as a fashion statement contribute to the expanding market. As a result, the Asia Pacific region is positioned for significant and sustained growth in the Lingerie Market.

Competitive Intelligence and Business Strategy

The Lingerie Market features a competitive landscape with established brands like Victoria's Secret, Calvin Klein, Triumph International, and newer entrants focusing on sustainability and inclusivity. Major players emphasize innovation, design, and a wide range of offerings to maintain market leadership. The rise of direct-to-consumer brands and online retailers intensifies competition, leveraging digital platforms for global reach and personalized customer experiences. Collaborations, strategic partnerships, and mergers contribute to the market's dynamic nature. Brands addressing diverse consumer preferences, body positivity, and sustainable practices gain prominence. As consumer expectations evolve, the competitive landscape in the Lingerie Market remains characterized by a balance between industry giants and nimble, innovative players responsive to emerging trends.

Key Recent Developments

New Product Launch

In May 2022, Triumph International (India), a prominent lingerie manufacturer, revealed its 2022 collection at the 12th Annual Triumph Fashion Show. The showcase included the latest offerings from the 'Triumph' brand, the sportswear line 'Triaction,' and the renowned innerwear brand 'Sloggi,' celebrated as the world's most comfortable.

Market Impact: Triumph International (India)'s unveiling of its 2022 collection at the 12th Annual Triumph Fashion Show has significant impact. Featuring the latest creations from 'Triumph,' 'Triaction,' and 'Sloggi,' renowned as the world's most comfortable innerwear brand, this event highlights the brand's commitment to innovation and style. The showcase not only elevates the lingerie and sportswear market but also reinforces Triumph's position as a leading and influential player in the industry.

Lingerie Market Report Scope

Attribute

Details

Forecast Period

2023 to 2030

Historical Data Available for

2018 to 2022

Market Analysis

US$ Million for Value

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • South Asia & Pacific
  • East Asia
  • The Middle East & Africa  

Key Countries Covered

  • United States
  • Canada
  • Germany
  • United Kingdom
  • France
  • Italy
  • Spain
  • Russia
  • China
  • Japan
  • South Korea
  • India
  • Thailand
  • Malaysia
  • Indonesia
  • Australia
  • New Zealand
  • GCC Countries
  • South Africa  

Key Market Segments Covered

  • Product Type
  • Distribution Channel
  • Region

Key Companies Profiled

  • Victoria's Secret
  • Hanesbrands
  • L Brands
  • ThirdLove
  • Cuup
  • Savage X Fenty
  • Jockey International
  • Wacoal Holdings

Report Coverage

  • Market Forecast
  • Company Share Analysis
  • Competition Intelligence
  • DROT Analysis
  • Market Dynamics and Challenges
  • Strategic Growth Initiatives  

Customization & Pricing

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Lingerie Market Research Segmentation

By Product Type:

  • Briefs
  • Bras
  • Shapewear
  • Others

By Distribution Channel:

  • Online
  • Offline

By Region:

  • North America
  • Europe
  • East Asia
  • South Asia & Oceania
  • Latin America
  • Middle East & Africa

- Companies Covered in This Report -

  • Victoria's Secret
  • Hanesbrands
  • L Brands
  • ThirdLove
  • Cuup
  • Savage X Fenty
  • Jockey International
  • Wacoal Holdings

- Frequently Asked Questions -

The market is anticipated to grow at a CAGR of 6.3% during the projected period.

The Lingerie market was valued at USD 92,471.6 million in 2023.

The US held the largest market share in 2023.

The prominent players in the market Victoria's Secret, Hanesbrands, L Brands, ThirdLove, Cuup, Savage X Fenty, Jockey International and Wacoal Holdings among others.

Bra segment is expected to grow at the fastest growth during the forecast period.

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