Wilmington, Delaware, United States, March 13, 2024 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The lingerie market was valued at US$ 40.4 billion in 2022. In 2031, the market is expected to reach US$ 71.1 billion, increasing at a CAGR of 6.5% during the forecast period. Several lingerie brands are investing in direct-to-consumer marketing strategies to capitalize on the growth of e-commerce. The fashion of lingerie has increasingly been viewed as an expression of empowerment and self-expression. Consumers are encouraged to embrace their individuality through marketing campaigns emphasizing self-confidence and self-love.
Personalization and customization of lingerie products are growing in popularity. A brand that allows consumers to customize their experience, whether it is choosing colors, sizes, or designs, attracts those seeking a personalized and unique experience. Due to increased awareness of environmental issues, sustainable and eco-friendly lingerie options are in high demand. Environmentally conscious consumers may favor brands that use sustainable production practices and source materials.
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Cultural factors strongly influence lingerie preferences. Providing products that cater to local preferences while understanding and respecting cultural sensitivities can help brands succeed in diverse markets. In addition to weddings, anniversaries, and gifts, lingerie is often purchased for special occasions. Seasonal trends and holiday promotions can influence demand spikes during specific times of the year.
Key Findings of Market Report
- Demand for sports bras is expected to increase as the activewear market grows.
- A significant portion of the lingerie market is expected to be driven by the cotton segment in the near future.
- Demand for lingerie is expected to increase as online sales and convenience increase.
- As lingerie sales grow in the future, it is expected that Asia Pacific will be the leading region in the market.
Global Lingerie Market: Growth Drivers
- A changing fashion trend and consumer preferences for stylish, fashionable, and contemporary lingerie drive the market demand for this item. Consumers seeking the latest and most fashionable lingerie are often drawn to innovative designs, new materials, and innovative styles.
- The proliferation of online shopping has significantly impacted lingerie. E-commerce platforms enable consumers to browse and buy lingerie discreetly and conveniently. Ease of use is one of the major factors contributing to the growth of the online market. A growing body positivity movement has been taking place within the lingerie industry. Often, brands with a variety of sizes and styles cater to a broader customer base to appeal to a range of body shapes and sizes.
- Comfort and health are more important to consumers than ever before. Among these features are fabrics with breathable properties, wireless bras, and designs that accommodate active lifestyles. A focus on comfort and well-being drives innovation in product development.
- Social media platforms heavily influence consumer preferences. Many lingerie brands work with influencers to promote their products, driving demand and influencing buying decisions. Lingerie options that can be customized have been growing in popularity. Manufacturers offer different colors, sizes, and styles to create personalized lingerie that suits clients' preferences.
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Global Lingerie Market: Regional Landscape
- The Asia Pacific region is expected to drive demand in the coming years. Western fashion trends heavily influence Asia Pacific fashion preferences. Lingerie styles may become more fashionable as globalization continues. As e-commerce has evolved, lingerie has become more accessible to a broader audience, making it more appealing to a wider audience. The convenience of shopping from home is one of the benefits offered by online platforms in the Asia Pacific region.
- Across Asia Pacific, lingerie preferences vary significantly among countries due to their cultural differences. Local cultural norms and preferences often influence how companies design their products. Lingerie manufacturers are paying increasing attention to health and comfort. In addition to providing aesthetic appeal, consumers want products that prioritize comfort and well-being.
Global Lingerie Market: Key Players
Most firms spend substantial amounts on comprehensive research and development, primarily to develop innovative products. The key strategies manufacturers adopt in the global market are the expansion of product portfolios and mergers and acquisitions.
- Calvin Klein
- Hanesbrands, Inc.
- Hennes & Mauritz AB
- Jockey
- L Brands, Inc.
- LVMH Moet Hennessey Louis Vuitton SE
- Marks and Spencers Group PLC
- PVH Corporation
- Ralph Lauren Corp.
- Triumph
- Victoria’s Secret
- Other Key Players
Key Developments
- In November 2023, PVH Corp., a manufacturer and distributor of apparel for consumer brands, agreed to sell its Warners, Olga, and True & Co businesses to Basic Resources. A trio of American lingerie and intimate brands, True & Co, Warners, and Olga, all focus on inclusivity in their product ranges.
- In January 2024, Swiss-based Triumph International opened its first franchise store in Hyderabad at the GVK Mall. It is the brand's 18th franchise store in the country and covers 642 square feet. The store showcases more than 150 styles of innerwear and loungewear.
Global Lingerie Market: Segmentation
- By Product Type
- Bra
- T-Shirt Bras
- Sports Bra
- Minimizer Bras
- Push-up Bras
- Bralettes
- Nursing Bras
- Others
- Knickers and Panties
- Briefs
- Thongs
- Boy Shorts
- Others
- Lounge Wear
- Pajamas and Shorts
- Onesies
- Tees
- Others
- Others
- Bra
- By Material
- Cotton
- Satin
- Muslin
- Silk
- Others
- By Distribution Channel
- Online
- E-commerce Websites
- Company-owned Websites
- Offline
- Specialty Stores
- Hypermarket/Supermarket
- Other Retail Stores
- Online
- By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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