Dublin, July 18, 2023 (GLOBE NEWSWIRE) -- The "Lingerie Market Size & Share Analysis - Growth Trends & Forecasts (2023-2028)" report has been added to ResearchAndMarkets.com's offering.
The Lingerie Market size is estimated at USD 82.28 billion in 2023, and is expected to reach USD 121.01 billion by 2028, growing at a CAGR of 8.02% during the forecast period (2023-2028).
The global lingerie market is experiencing significant growth, driven by changing consumer preferences and a rising focus on comfort and fashion. The market is highly competitive, with both local and international players vying for a leading position.
Major industry players, including Hansbrands Inc., Victoria's Secret & Co., and PVH Corp., are at the forefront, supported by Triumph International, Jockey International, Wacoal Holdings, and Zivame, among others. These companies operate across different regions and continually invest in new materials and design technology to meet evolving consumer needs.
In recent years, the innerwear and lingerie industry has witnessed robust growth that shows no signs of slowing down. Consumers, especially women, are increasingly conscious of their attire and comfort. Various factors, such as commercial advertisements, movies, and entertainment channels, have played a pivotal role in boosting lingerie sales.
Each type of dress requires specific lingerie to enhance the body's features, contributing to the market's expansion. Market players have responded by introducing a wide range of products that prioritize both comfort and fashion, catering to the diverse needs of consumers.
A significant shift in perspective regarding underwear and lingerie, from being a necessity to a fashion statement, has fueled the demand for stylish lingerie. The market offers a wide array of designs for different purposes, including sports, bridal wear, and everyday wear. This diverse product range, coupled with the introduction of new brands and strategic mergers and acquisitions, has further driven market growth.
As the lingerie market continues to grow and evolve, industry players are keen on innovation and meeting the demands of discerning consumers. With a focus on comfort, fashion, and expanding product portfolios, the lingerie market is poised for sustained success.
Lingerie Market Trends
Growing Influence of Endorsements and Aggressive Marketing
In an age of diversity, the lingerie industry has significantly shifted over the past few years. With the growing importance of social media in a shopper's purchase journey, companies are evolving and stepping up their advertising and endorsement game across different distribution channels to garner consumer attention. Celebrities endorsing or promoting their products can help brands raise awareness, trust, and familiarity, all of which are essential factors in the purchase decision-making process.
Consumers feel more sympathetic toward a brand if its products are promoted by a celebrity they admire or relate to. Furthermore, for the past ten years, American professional tennis player Serena Williams has worn Berleibras in every match she has played, a subtle endorsement moves by the brassiere manufacturer to promote its products by becoming an official sponsor of the athlete. As a result, the aggressive marketing tactics used by these major players are expected to propel market growth.
Largest Consumer Base for Lingerie is in Asia-Pacific
Asia-Pacific has the largest lingerie market due to the presence of a large number of end-users in the region. The growing popularity of e-commerce, rising disposable incomes, and changing consumer preferences are expected to drive lingerie sales in this region.
Additionally, lingerie designers and popular lingerie brands like Berrymelon, Victoria's Secret, La Perla, Agent Provocateur, and Neiwai, among others, have been enticing consumers with the usage of lace, embroidery, luxurious fabrics, and lighter hues in their lingerie, which is further expected to boost the demand for lingerie during the forecast period.
Lingerie manufacturers have been introducing gender-fluid, body-inclusive, and vegan variants for sustainability-conscious consumers, especially millennials and the growing generation Z population. Therefore, brands like 'Inner Sense", the flagship brand of Green Ideology, an organic cotton and bamboo fiber manufacturing company, claim to offer skin-friendly lingerie with unique fiber with natural anti-bacterial and anti-microbial properties. The brand claims to provide India's first premium organic anti-microbial lingerie.
Scope of the Report
Product Type
- Brassiere
- Briefs
Other Product Types
- Distribution Channel
- Supermarkets/Hypermarkets
- Specialty Stores
- Online Retail Stores
- Other Distribution Channels
Company Profiles
- Hansbrands Inc.
- Jockey International Inc.
- Victoria's Secret & Co.
- Triumph International
- MAS Holdings
- Berkshire Hathaway Inc.
- Zivame
- PVH Corp.
- Aimer Group
- Wacoal Holdings Corp.
For more information about this report visit https://www.researchandmarkets.com/r/v6uxko
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