Lingerie Market Overview
The Lingerie Market will acquire a value of USD 135.16 billion and a CAGR of 4.52% over the forecast period by 2030.
Women are always concerned about their dress, including their outfits and lingerie. The higher growth of the educational women population and economic developments propel the Lingerie Market outlook in the forecast period. The rise in participation of women in the corporate sectors and the massive support of governments towards the working women is aiding the market. Major initiatives are taken to improve women's economic empowerment. The working women population leads to higher disposable income, which leads to spending more on proper clothing. The rising awareness for comfortable and functional lingerie to maintain hygiene and the living standard is driving the market. The growth of the spending power of women is increasing the luxury lingerie sales, which is helping the Lingerie Market to generate higher revenue.
The growth opportunities such as the change in lifestyles of women and the rise in health consciousness have made women inclined towards workout activities. This factor is accelerating the sales of sports bras and workout wear. Women's participation in social gatherings also raises the demand for products like seamless panties, shapewear, bralettes, and pushup bras. These growth factors are showing a positive impact on lingerie sales and driving the industry.
The Lingerie Market is segmented into product type, price range, and distribution channel.
The product type fragment of the market is categorized into loungewear, knickers & panties, bras, shapewear, and others. The bras segment has captured the largest market share in recent years. The shapewear segment holds the highest CAGR, and it will continue its growth consistency in the forecast period.
The price range segment of the global market is classified into economy and premium. The premium segment will witness a higher CAGR due to its rapid growth rate in the forecast period.
The distribution channel segment of the lingerie market is segregated into store-based and non-store-based. The store-based channel is sub-categorized into fragments such as supermarkets and hypermarkets, specialty stores, and convenience stores. The specialty stores will capture the highest CAGR rate in the forecast period. The non-store-based channel is fragmented into direct and indirect.
Leading key lingerie market players are Yandy LLC (US), Marks and Spencer plc (UK), Victoria's Secret (US), Group Chantelle (France), MAS Holdings (Sri Lanka), Jockey International Inc (US), Fashion Nova Inc. (US), Hennes & Mauritz AB (Sweden), LVMH Moët Hennessy Louis Vuitton (France) among others.
According to the global lingerie market share, regional analysis covers the prominent regions such as the North American countries, European Union, Asia-Pacific, and other regions.
The Asia Pacific region has acquired the highest market share compared to other regions. The presence of chief manufacturers of the lingerie market in this region is accelerating the regional market growth. Growth factors such as the rise in the women population, rapid urbanization, and increased rate of disposable income are driving factors in this region.
The North American region has witnessed itself as the second-largest market in terms of share. The region is propelled by several factors, including the higher rate of working women population. The US chiefly drives the regional market to the huge demand for the product. Other growth factors such as innovation of stylish design materials and colors are driving the regional market.
The other regions of the Lingerie Market also show a decent growth rate in the forecast period.
In August 2021- Parade announced its latest collection of floral print underwear for outdoor enjoyment during the higher temperature days. The company has introduced the Summer Daisy Retail Market in New York City, giving shoppers a growth opportunity in the lingerie merchandise.
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