Thursday, February 22, 2024

Lingerie Market to Reach US$ 171.3 Bn by End of 2031 | Transparency Market Research

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Wilmington, Delaware, United States, March 09, 2023 (GLOBE NEWSWIRE) — Transparency Market Research Inc. – The global Lingerie Market is likely to grow at a CAGR of 6.7% between 2023 and 2031. Lingerie is referred to as women’s innerwear, and forms an essential apparel category. Lingerie is also considered an important fashion accessory that comes with added benefits such as additional support and comfort. Currently, consumers are very particular about their intimate hygiene and have personal preferences for certain brands as per their convenience. Presence of a large female population, coupled with their demand for innerwear for specific dresses, is considered a key factor boosting the lingerie business growth.

The global market for intimate apparel has witnessed significant growth in the past few years due to increase in popularity of western clothing in the women’s category. Rise in acceptance of various body types, coupled with the launch of multiple attractive lingerie categories, is anticipated to create new business opportunities in the global lingerie market in the near future.

According to TMR report, the global lingerie market was valued at US$ 96.3 Bn in 2022 and is projected to reach US$ 171.3 Bn by the end of 2031. Increase in availability of various lingerie types across all online and offline stores worldwide is likely to bolster market expansion in the next few years.

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Key Findings of Study

  • Increase in Women’s Employment: Rapid economic growth in several parts of the world has propelled the participation of women in multiple businesses, especially in developing countries such as China and India. Governments of various nations are keenly engaged in promoting women’s empowerment and eliminating the gap in unequal pay between genders. Such initiatives are projected to promote women’s employment, thereby creating new demand for lingerie and new business opportunities during the forecast period.
  • Rise in Popularity of Multiple Lingerie Types: Increase in penetration of lingerie products on e-commerce websites has resulted in a massive boom in terms of demand. Such factors are likely to help promote industry growth in the near future. Besides the availability of different sizes, shapes, and designs, the variety of material types in lingerie is expected to augment the market in the next few years.

Key Drivers

  • Rise in demand for comfortable innerwear among women is likely to accelerate market expansion
  • Increase in demand from online sales channels is anticipated to bolster market development
  • Rapid growth of the innerwear apparel industry is projected to increase market size

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Regional Growth Dynamics

  • Europe held the largest market share in 2022. The trend is expected to continue during the forecast period. This is ascribed to presence of the largest fashion industry and increase in people’s income in the region. Moreover, rise in working women’s population and presence of high fashion interests among them are projected to bolster the market in the region during the forecast period.
  • South America, Asia Pacific, and Middle East & Africa are anticipated to generate notable revenue during the forecast period. This is ascribed to improving economic conditions, rise in number of women workers in different fields, and improving fashion industry.

Key Players

Prominent players in the global lingerie market include

  • Victoria’s Secret,
  • Triumph,
  • Ralph Lauren Corp.,
  • PVH Corporation,
  • Marks & Spencer Group plc,
  • LVMH Moet Hennessy Louis Vuitton SE,
  • Jockey,
  • Hanesbrands, Inc., and Calvin Klein.

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Lingerie Market Segmentation

Product Type

  • Bra
    • T-shirt bras
    • Sports Bras
    • Minimizer Bras
    • Push-up Bras
    • Bralettes
    • Nursing Bras
    • Others (strapless bras, stick-on bras, etc.)
  • Knickers & Panties
    • Briefs
    • Thongs
    • Boy Shorts
    • Others (hipsters, boxers, etc.)
  • Lounge Wear
    • Pajamas & Shorts
    • Onesies
    • Tees
    • Others (camisoles, baby dolls, robes, etc.)
  • Others (shapewear, swimwear, etc.)

Material

  • Cotton
  • Satin
  • Muslin
  • Silk
  • Others (rayon, net, etc.)

Price

Distribution Channel

  • Online
    • E-commerce websites
    • Company-owned websites
  • Offline
    • Hypermarkets/supermarkets
    • Brand Stores
    • Other Retail Stores

Regions

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

Countries

  • U.S.
  • Canada
  • Germany
  • U.K.
  • France
  • Japan
  • China
  • India
  • GCC
  • South Africa
  • Brazil
  • Mexico

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About Transparency Market Research

Transparency Market Research registered at Wilmington, Delaware, United States, is a global market research company providing custom research and consulting services. TMR provides in-depth insights into factors governing demand in the market. It divulges opportunities across various segments based on Source, Application, Sales Channel, and End-Use that will favor growth in the market over the next 10 years.

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