In terms of revenue, the Global Lingerie Market is expected to reach by 2030, growing at a CAGR (Compound Annual Growth Rate) of 6.33% from 2023 to 2030.
The Lingerie market is experiencing a significant upswing, fueled by factors that underscore the changing dynamics of consumer preferences. With a growing awareness of the importance of well-fitted products, an expanding millennial population, and increased spending power among women, the market is poised for substantial growth in the forecast period. The availability of a diverse range of Lingerie designs for various purposes, including daily wear, sportswear, and bridal wear, has further accelerated industry expansion. Designers now focus on using luxurious materials, intricate embroidery, lace, and flexible fabrics to create fashionable and comfortable Lingerie. This trend aligns with the global shift towards accentuating natural beauty, driving demand for one-piece and seamless, intimate apparel.
Key Highlights from the Report
· Based on the segmentation of Product Type, the Briefs segment is anticipated to dominate the Lingerie market with the largest market share in the forecast period considering their versatility, comfort, and wide variety of options.
· Furthermore, based on the segmentation of the Distribution Channel, the Offline market segment accounted for the maximum CAGR during the forecast period because of the convenience of offline shopping and the wide range of options it provides.
· Finally, in terms of Region, Asia Pacific held the major market share in 2022 and is likely to be the most gainful market in the future. Elements increasing disposable income of China's growing middle class, rising demand for Specialized Lingerie segments in Australia, and increasing popularity of online shopping in the region are aiding this market expansion.
The Lingerie market faced challenges during the COVID-19 pandemic, witnessing a decline in physical store sales due to restrictions. Nevertheless, the industry demonstrated resilience as online channels continued to cater to consumer demand. Notable players like Victoria’s Secret and ZARA adapted by launching e-commerce initiatives, showcasing the industry's ability to pivot in response to global disruptions. Key players in the Lingerie market is implementing strategic initiatives to expand their global footprint. For instance, Victoria’s Secret collaborated with Amazon Fashion to enhance the shopping experience, while HanesBrands Inc. introduced the Hanes Originals collection, showcasing innovation in design and fabrics.
Technological innovation has become a focal point in the Lingerie industry, with virtual fitting rooms and augmented reality experiences enhancing the online shopping journey. Sustainability is also gaining prominence, with eco-friendly packaging practices and circular fashion models being adopted. Conscious consumerism is driving a shift towards slow fashion, emphasizing durability and timeless pieces.
Despite the positive trends, the Lingerie market faces challenges such as the unavailability of plus-size options and the high manufacturing costs. The industry's reliance on sophisticated and expensive machinery contributes to the premium pricing of Lingerie, potentially hindering widespread adoption. However, initiatives by key players to invest in the development of inclusive Lingerie lines for diverse shapes and sizes present opportunities to overcome these restraints, ensuring sustainable growth in the long term.
Asia Pacific stands as the largest and most dynamic region in the Lingerie market. The region's growth is propelled by the increasing disposable income of China's growing middle class. Western fashion trends are influencing Chinese consumers' Lingerie choices, and eCommerce has become the dominant sales channel. Specialized Lingerie segments, such as maternity and nursing wear, are witnessing a rising demand in Australia. Online shopping is gaining popularity in the region, offering consumers a convenient avenue to explore and purchase Lingerie. However, concerns about the environmental impact of purchases are driving the adoption of sustainable Lingerie offerings in response to the preferences of Australian consumers.
The Global Lingerie Market is Segmented as follows
- Product Type
- Other Product Types
- Distribution Channel
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
List of the Key Players of the Global Lingerie Market is
Jockey International Inc. (U.S.), Victoria’s Secret (U.S.), Zivame (India), Gap Inc. (U.S.), Hanesbrands Inc. (U.S.), Triumph International Ltd. (Switzerland), Hunkemoller (Netherlands), Bare Necessities (U.S.), Calvin Klein (U.S.), MAS Holdings (Sri Lanka)
The Global Lingerie Market Scope can be Tabulated as below
|Market Size Provided for Years
|2017 - 2030
|2017 - 2021
|2023 - 2030
|Regions & Counties Covered
|Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis