Covina, Oct. 18, 2023 (GLOBE NEWSWIRE) -- Intimate wear, often referred to as intimate apparel or lingerie, and encompasses a range of clothing items that are worn next to the skin, typically beneath outerwear. These garments are designed primarily for comfort, body support, modesty, and aesthetics. Intimate wear includes items such as bras, panties, shape wear, lingerie, camisoles, corsets, and undershirts, among others.
Through offering a wider choice of sizes and styles to accommodate various body types and sizes, the industry is becoming more inclusive. This diversity is anticipated to fuel the expansion of the Intimate Wear Market. Demand for intimate apparel that adheres to emerging fashion trends including the inclination for comfort, sustainability, and practical style will increase.
Key Highlights
- In August 2022, Zivame launched its new brand campaign that aims to showcase the ease, comfort and convenience of shopping for intimate wear on Zivame.com. Zivame's category knowledge is conveyed in the ad, but it also provides the comfort that it is a platform that understands women as a friend and caters to their specific requirements.
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Market Segmentation
The Intimate Wear Market is segmented by gender, age, distribution and region
- By Gender: Women and Men
- By Age Group: 3/17 Years, 18/35 Years, and 36 Years and Above
- Distribution Channel: Mass Merchandizers, Mono Brand Stores, Specialized Stores, and Online Stores
- By Region: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Key Market Trends
The following are some of the key market trends that are expected to drive the growth of the intimate wear market during the forecast period:
- Rising demand for premium and sustainable intimate wear products: Consumers are increasingly demanding premium and sustainable intimate wear products. This is due to the growing awareness of the importance of comfort and sustainability. Premium intimate wear products are made from high-quality materials and offer a superior fit and feel. Sustainable intimate wear products are made from eco-friendly materials and are produced using ethical and sustainable practices.
- Increasing popularity of online shopping: Online shopping is becoming increasingly popular, especially among millennials and Gen Z consumers. This is due to the convenience and affordability of online shopping. Consumers can easily browse and compare products from different retailers online, and they can often find better deals online than in-store.
- Growing popularity of athleisure wear: Athleisure wear is becoming increasingly popular, especially among millennials and Gen Z consumers. Athleisure wear is comfortable and stylish clothing that can be worn for a variety of activities, including working out, running errands, and socializing. This is driving the demand for intimate wear products that can be worn under athleisure wear.
Key Market Players
Key players in the target market include L Brand Inc., Berkshire Hathaway Inc., American Eagle Outfitters Inc., HanesBrands Inc., Jockey International Inc., Triumph International Ltd., Hanky Panky Ltd., PVH Corporation, MAS Holdings Ltd., and Chantelle SA.
Market Challenges
The following are some of the challenges that are expected to hinder the growth of the intimate wear market during the forecast period:
- Intense competition: The intimate wear market is highly competitive, with a large number of players operating in the market. This makes it difficult for new players to enter the market and for established players to maintain their market share.
- Counterfeit products: Counterfeit intimate wear products are a major challenge for the market. Counterfeit products are often made from low-quality materials and can be harmful to consumers' health.
- Economic slowdown: An economic slowdown can lead to a decrease in consumer spending, which can impact the growth of the intimate wear market.
Sustainability
Sustainability is becoming an increasingly important issue for consumers, and the intimate wear industry is no exception. A growing number of consumers are looking for intimate wear products that are made from sustainable materials and that are produced in an ethical manner.
Some of the key trends in sustainable intimate wear include the use of organic cotton, recycled materials, and sustainable manufacturing practices. A number of brands are also offering sustainable intimate wear subscription services, which allow consumers to rent and return intimate wear items.
Analyst View
The development of eco-friendly materials and production techniques in the intimate wear business is being driven by rising consumer awareness of sustainability and catering to those who care about the environment. Online sales of intimate apparel have increased as a result of the popularity of online shopping, which allows customers to try on and return things. Online shopping's comfort and privacy are probably what will keep it growing.
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Market Opportunities
The following are some of the opportunities that are expected to drive the growth of the intimate wear market during the forecast period:
- Growing demand in emerging markets: The demand for intimate wear products is growing in emerging markets, such as China, India, and Brazil. This is due to the increasing urbanization and rising disposable incomes of consumers in these markets.
- Growing popularity of e-commerce: E-commerce is becoming increasingly popular, especially in emerging markets. This is an opportunity for intimate wear brands to reach new consumers and expand their sales channels.
- Growing demand for personalized intimate wear products: Consumers are increasingly demanding personalized intimate wear products. This is due to the growing awareness of the importance of a good fit. Personalized intimate wear products can be made to the exact measurements of the consumer, ensuring a perfect fit and maximum comfort.
Conclusion
The intimate wear market is evolving in response to changing consumer preferences, technological innovations, and shifting cultural norms. As the industry adapts to these changes, it is expected to continue its growth trajectory, with a focus on inclusivity, sustainability, and technological advancements. However, the market also faces challenges related to competition, supply chain disruptions, and regulatory compliance. Staying ahead in this dynamic market will require brands to be agile, innovative, and socially responsible.
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