New York, March 21, 2023 (GLOBE NEWSWIRE) -- The global lingerie market size accounted for USD 36.7 billion in 2022. It is expected to reach USD 72.9 billion by 2032 with a CAGR of 7.1% during the forecast period. Lingerie is a lightweight, stretchable undergarment made from a combination of cotton, silk, nylon, lace, and sheer fabrics. Lingerie is worn between the clothes and the body to protect them from bodily secretion.
Lingerie can be worn as regular, fashion & accessories, bridal, or sportswear clothing to improve physicality, confidence, health, and overall well-being. There are many types of lingerie available today, including knickers and briefs in various sizes and patterns.
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Key Takeaway:
- By Product, The Brassiere segment commanded the major market share in 2022.
- The Knickers segment is projected to grow at an 8.1% annual growth rate over the forecast period.
- In 2022, Europe dominated the market with the highest revenue share of 35%.
- North America has held a 27.4% revenue share in 2022.
- Asia Pacific is expected to be the fastest-growing regional market with a share of 21% from 2023 to 2032.
Women choose innerwear, particularly bras, that can match their clothes. This can be attributed to the changes that have occurred in outerwear for women. Hence they prefer to purchase appropriate innerwear. For example, certain sports bras are utilized during exercises. Strapless bras are worn for plunging neck area dresses, as these upgrade the outfit. As a result, market growth is likely to be fueled in the coming years by an increase in demand for various styles of bras.
Factors affecting the growth of the Lingerie Market industry
- A growing number of women with higher spending power and a growing awareness of the most recent fashion trends are expected to drive market expansion.
- The increasing availability of multiple products also drives this global market in various styles, such as sports, bridal, and regular wear.
- The growing popularity of products and variety of purchase options is also one of the key factors attributed to the increasing desire among women to enhance their natural beauty.
- Designers of lingerie are focusing on creating products with lace and embroidery, luxurious materials, brighter colors, and other appealing features, which is expected to drive growth in the lingerie market.
- As consumers tend to favor color and fabric, manufacturers are also introducing trendy lingerie that can be worn for a variety of activities. Nursing bras and sports bras are among Jockey's many options.
- The emergence of sustainable product variations acts as an essential growth factor.
- Leading brands and businesses are producing eco-friendly lingerie sets by using biodegradable materials and environmentally friendly production methods.
- As consumers become more conscious of their impact on the environment, they intend to purchase lingerie made of sustainable materials. As a result, businesses of all sizes are taking steps to become more socially and environmentally conscious.
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Top Trends in Global Lingerie Market
The lingerie industry has undergone significant change over the past few years in this age of diversity. In order to attract customers' attention, businesses are evolving and stepping up their advertising and endorsement game across various distribution channels in light of the growing significance of social media in a consumer's purchase journey. Celebrities who endorse or promote their products can assist brands in gaining familiarity, trust, and awareness, all of which are crucial in the buying process.
The increasing preference of customers for the most recent fashion trends, from loungewear to intimate wear, is one of the primary growth factors. Information about the most recent and popular products on the market is being provided by globalization and the rapid development of information technology. To save time and choose from a wide range of lingerie collections, many customers now prefer to shop online. Market players are making the most of this opportunity by selling their products online and expanding their customer base at the same time.
The most recent drivers of growth are sustainable product options. The lingerie market has undergone significant changes in recent years. Lingerie made of environmentally friendly materials is becoming increasingly popular among consumers. As a result, businesses of all sizes are taking steps to become more socially and environmentally conscious. Taking on challenges like sourcing materials and adopting a circular economic model is something that many brands look forward to. This represents a significant market shift.
One of the main factors driving the market growth is the increasing preference for consumer goods of trendy sportswear and intimate wear. This is reflected in the large adoption of aggressive marketing activities and promotional activities on various social media platforms to sensitize and expand the consumer base.
The market's expansion is being fueled by an increase in product variations and an increase in consumer demand for brassiere briefs that are seamless and of high quality, as well as premium-quality branded lingerie.
Market Growth
Designers of lingerie are focusing on creating products with lace and embroidery, luxurious materials, brighter colors, and other appealing features, which is expected to drive growth in the lingerie market. As consumers tend to favor color and fabric, manufacturers are also introducing trendy lingerie that can be worn for a variety of activities. Nursing bras and sports bras are among Jockey's many options.
The significant participation of women in the business sector, particularly in emerging economies, is brought to light by rising women's educational awareness and economic growth. In addition, governments are working to close the gender gap in labor force participation, increase female economic empowerment, and encourage women to work. Consumer spending has been influenced by an increase in the proportion of working-age women in the population. Additionally, customers are gravitating toward lingerie that is more comfortable and useful as they become more concerned about their appearance, level of life, and cleanliness. As the number of working women worldwide has increased, lingerie sales have increased rapidly. As women's purchasing power grows, so does the demand for high-end lingerie.
Regional Analysis
Europe is the region's largest market, accounting for more than 35.0% of sales. This market is driven in large part by the presence of established players and the rising demand for premium and luxury brands. The importance of designing and quality for all shapes and sizes is emphasized by businesses. Europe's strong preference for high-quality brands and limited-edition lingerie has helped the global market expansion. Product availability and the expansion of both offline and online channels are driving regional market expansion.
With a high CAGR over the forecast period, Asia Pacific is anticipated to be the regional market with the fastest growth. Increasing awareness of best-fits by use, a wide range of fabrics, the shifting lifestyles of working millennials, rising disposable incomes, and an obsession with maintaining a clean structure/silhouette are the primary industry trends. When it comes to purchasing lingerie, consumers are willing to spend more on innovative products. In order to expand their customer base, international businesses are opening stores in this region. The Italian luxury lingerie brand La Perla opened stores in India. In a similar vein, Etam, a French lingerie brand, joined forces with Future Group to boost sales.
Competitive Landscape
The fact that major players in the industry are spending a lot of money on research and development to improve their products will help the lingerie industry grow even more. Market participants are also engaging in a variety of strategic actions to expand their presence in response to changes in the development of the market, such as the introduction of new products, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Lingerie businesses need to provide affordable products if they want to expand and thrive in a market that is expanding at the same time as fierce competition.
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Scope of the Report
| Report Attribute | Details |
| Market Value (2022) | USD 36.7 Billion |
| Market Size (2032) | USD 72.9 Billion |
| CAGR (from 2023 to 2032) | 7.1% |
| Europe Revenue Share | 35% |
| North America Revenue Share | 27.4% |
| Historic Period | 2016 to 2022 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2032 |
Market Drivers
The lingerie market is expected to expand due to the growing preference of women for products like shapewear and bras, which aid in maintaining a positive appearance and enhancing the body's aesthetic appeal. Additionally, it is anticipated that an increase in the number of women participating in fitness-related activities like marathons, gym sessions, and other sports will fuel demand for sports bras and the lingerie market as a whole.
The demand for fashionable lingerie has been fueled in large part by the shift away from viewing underwear and lingerie as necessities and toward fashionable accessories that enhance a toned figure. The market's expansion has also been fueled by the expanding supply of a wide range of products in a variety of designs for a variety of uses, including sportswear, bridal wear, and everyday wear. The leading players in the market are also developing new brands and engaging in mergers and acquisitions with other businesses to diversify their product offerings and introduce novel products.
Women's increased economic knowledge and education awareness highlight the growing number of women working in business, particularly in developing nations. Governments are also encouraging women to join the workforce in order to close the gender wage gap and increase female economic empowerment. Consumer shopping habits have changed as a result of the growing number of working women. This has increased disposable income per person. Additionally, as consumers become more concerned about their hygiene, appearance, and quality of life, they are gravitating toward lingerie that is more practical and comfortable. Lingerie sales have been rapidly increasing all over the world as more women get jobs. Luxury underwear sales are rising in tandem with women's increased spending power.
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Market Restraints
The lingerie market has seen an increase in prices over time as a result of shifting fashion trends, shifting preferences, and shifting customer expectations. The result has been an increase in market production costs, which has had a negative impact on the global lingerie industry.
Market Opportunities
A crucial driver of growth is the emergence of environmentally friendly product variations. Leading brands and businesses are producing eco-friendly lingerie sets by using biodegradable materials and environmentally friendly production methods. The growing awareness of the general public about the environment is largely to blame for its growing popularity. The market continues to have a positive outlook thanks to factors like consumer urbanization and rising spending power in developing regions, easy product availability through rapidly expanding online platforms, appealing discounts, affordable price points for leading brands, and special offers.
Report Segmentation of the Lingerie Market
Product Type Insight
The brassiere, knickers, shapewear, and other types of lingerie make up the global lingerie market. In 2022, the Brassiere segment held the majority of the market. Designers have been able to innovate while maintaining their market share and position as market leaders thanks to the availability of new fabrics and the ongoing development of technology. Model, leaser, and full t-shirt brasserie innovations are now feasible thanks to the availability of multiple sizes and precise cuts. When creating innovative designs for lingerie, businesses make use of fabrics like pleated polyester and microfiber. Ritratti, an Italian organization, makes brassieres that have fluid silicon installed. On the other hand, Mesh Intimate offers brassieres with ruffle trim.
Over the forecast period, it is anticipated that the Knickers segment will expand at a rate of 8.1% per year. Cotton and nylon-based knickers are becoming increasingly popular with manufacturers. Full-length, hipster, and short-sleeved varieties of lingerie are all available. Organizations are creating exceptional pants, including elegant plans, jacquard, no VPL-ribbon trim, and high-waisted controls to offer solace and different advantages.
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Market Segmentation
By Product Type
- Brassiere
- Knickers
- Shapewear
- Others
By Distribution Channel
- Specialty Stores
- Multi-Brand Stores
- Online Channel
By Geography
- North America
- The US
- Canada
- Mexico
- Western Europe
- Germany
- France
- The UK
- Spain
- Italy
- Portugal
- Ireland
- Austria
- Switzerland
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe
- Russia
- Poland
- The Czech Republic
- Greece
- Rest of Eastern Europe
- APAC
- China
- Japan
- South Korea
- India
- Australia & New Zealand
- Indonesia
- Malaysia
- Philippines
- Singapore
- Thailand
- Vietnam
- Rest of APAC
- Latin America
- Brazil
- Colombia
- Chile
- Argentina
- Costa Rica
- Rest of Latin America
- Middle East & Africa
- Algeria
- Egypt
- Israel
- Kuwait
- Nigeria
- Saudi Arabia
- South Africa
- Turkey
- United Arab Emirates
- Rest of MEA
Market Key Players
- Jockey International Inc.
- Zivame
- Victoria's Secret
- Hanesbrands Inc.
- Gap Inc.
- Hunkemoller
- Triumph International Ltd.
- Calvin Klein
- Fashion Nova Inc.
- Other Key Players
Recent Development of the Lingerie Market
- In 2022, Fast Retailing Co., Ltd. is a listed company headquartered in Japan. A global company with revenues of US$ 19.1 Bn and approximately 55,589 employees. Income from its online lingerie marketplace in India and other products contributes to overall revenue.
- In February 2022, MAS Holdings partnered with renowned digital retail store software, BeyondXR, to create a virtual showroom to enhance the retail experience. This collaboration will allow MAS to present its new collection to global brands in a virtual gallery.
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