Market Research Future (MRFR) studied the global Lingerie Industry 2021 for the review period till 2028. As per MRFR study, the global Lingerie Industry is expected to expand at 4.52% over the analysis tenure (2021-2028). By 2028, the global linger market value is likely to touch USD 123.33 billion.
Market Drivers and Restrains
The inclination towards aesthetically appealing lingerie is observed to favor the market in the near future. The growing popularity of comfortable lingerie among the expanding women population is expected to add momentum to the Lingerie Industry expansion. The increase in lingerie sales and change in fashion trends can prompt the market upsurge in the near future. In the COVID 19 pandemic, the increase in pregnancy cases is contributing to the upscaling demand for sports bra, which is expected to favor the linger market in the review period. Moreover, the availability of different type of T-shirt bra and their growing preference among working professionals can prompt the market upsurge in the analysis tenure.
The surge in sales of boy shorts due to their comfort and ease of movement benefit offered by them can support the growth of the global Lingerie Industry. The adoption of effective marketing solutions can prompt the linger market. The inclination towards social media platforms, such as; Instagram and Facebook, to promote lingerie to potential prospects can favor the market expansion over the assessment period. Moreover, the surge in sales through online purchasing via e-commerce website can promote the Lingerie Industry. The continuous upgradation of fashion trend and the elimination of old trends overtime can restrain the Lingerie Industry. However, the need for introduce latest design by lingerie manufacturers to meet changing preference of customers is also inevitable. These can cause the Lingerie Industry to slow-down. Marketers are working on strategies to mitigate the rising problem and boost the global Lingerie Industry growth in the near future.
The segment analysis of the Lingerie Industry is based on product, price, and distribution channel.
The product-based segment of the Lingerie Industry are bras, lounge wear, panties, and shape wear among others. The other segment comprises nylon stockings, and slips among others. The bras segment is expected to garner decent revenue for the global Lingerie Industry owing to the demand for advanced bra designs that can offer improved comfort and easy of wearing. The adoption of recent design and fashion technologies by both well-established and start-up bra manufacturers can add to the market upsurge.
The price-based segments of the Lingerie Industry are premium and economy. The economy segment of the Lingerie Industry is expected to acquire considerable revenue for the market owing to the availability of such items of clothing at retail stores. The economy segment of the Lingerie Industry is expected to prompt at the highest CAGR over the review tenure. The premium segment of the market can rise at decent pace owing to the surge in their demand across among the elite population can underpin the market upsurge.
The distribution channel-based segments of the Lingerie Industry are instore and others. The in stores segment studies supermarkets, specialty stores, and hypermarkets. The increase in number of outlets can benefit the instore segment. The other segment comprises of the e-commerce sector. The increase in sales of women lingerie via e-commerce sector can prompt the market in the years ahead.
In North America, the Lingerie Industry is expected to thrive owing to its high sales. Similar growth inducer is observed for Europe Lingerie Industry. In the Asia Pacific, the growing prevalence of online shopping can prompt the market upsurge. Moreover, the availability of diverse variety of designs, styles, and materials, that avail different lingerie styles to women around the globe can prompt the market upsurge. The rise in sales of panties is expected to garner high revenue over the assessment period due to the availability of panties lingerie in comfortable fabrics, such as; cotton that allow the skin to ‘breathe’.
Victoria's Secret (US), Marks Spencer Group plc (UK), Groupe Chantelle (France), MAS Holdings (Sri Lanka), Fashion Nova, Inc. (US), Jockey International, Inc. (US), Hennes Mauritz AB (Sweden), Hunkemöller International B.V. (Netherlands), LVMH Moët Hennessy – Louis Vuitton SE (France), Calvin Klein Inc. (US), Triumph International (Switzerland) Bluebella Ltd (UK), La Senza Corporation (US), and Parfait Lingerie (US) are some reputed companies in the global Lingerie Industry.
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