Lingerie Market

The global Lingerie Market is valued at USD 82.3 Billion in 2022 and is projected to reach a value of USD 134.5 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 6.33% between 2023 and 2030.

Premium Insights

The global Lingerie market is experiencing robust growth driven by several key factors. Increasing awareness regarding product fit, a rising population of millennials, and the growing spending power of women are major contributors to this trend. The industry has witnessed a surge in demand for a diverse range of Lingerie products, including daily wear, sportswear, and bridal wear. Designers are focusing on using luxurious materials such as lace, cotton, nylon, silk, and sheer, coupled with intricate details like embroidery, to create fashionable and purpose-specific Lingerie. Despite challenges such as high prices and limited availability in plus sizes, market players are investing in strategies like mergers, acquisitions, and global expansion to cater to diverse consumer needs. Notably, the COVID-19 pandemic had a moderate impact on the Lingerie market, with online channels mitigating the decline in physical store sales.

• Growing awareness of body positivity and inclusivity, a rising population of millennials, and the growing spending power of women will bolster market growth.
• The Asia Pacific region is expected to dominate the market during the forecast period, with a revenue share of 43.7% in 2022.
• By Product Type, the Briefs segment dominated the largest market share globally from 2023 to 2030.
• By Distribution Channel, the Offline will hold the largest share globally in 2022 due to the convenience and wide range of options it provides.
• The Asia Pacific region is poised for remarkable growth, displaying a noteworthy Compound Annual Growth Rate (CAGR) between 2023 and 2030.

Top Market Trends

1. Virtual Fitting Rooms and Augmented Reality Experiences: Lingerie brands are embracing technology, offering virtual fitting rooms and augmented reality features to enhance the online shopping experience, allowing customers to try on garments virtually before making a purchase.
2. Eco-friendly Packaging and Circular Fashion: Sustainability is a growing focus in the Lingerie industry, with brands adopting eco-friendly packaging practices and exploring circular fashion models to encourage recycling and upcycling of Lingerie products.
3. Conscious Consumerism and Slow Fashion: There's a shift towards conscious consumerism, promoting timeless and durable Lingerie pieces over fast fashion trends. Consumers seek sustainable approaches to Lingerie consumption.
4. Body-inclusive Mannequins: Lingerie retailers are incorporating diverse and body-inclusive mannequins in stores to create a more inclusive and realistic shopping environment, resonating with a broad spectrum of consumers.
5. Lingerie for Post-Surgery and Maternity: A niche trend involves Lingerie lines catering specifically to post-surgery recovery and maternity needs, emphasizing both comfort and aesthetics.

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Economic Insights

The Lingerie market reflects the changing economic landscape, especially with the increased participation of women in various business sectors globally. Government's efforts to promote women's employment have led to a rise in disposable income among women, impacting their buying habits. This trend is notable in developed economies like the US, where the women's underwear market is the largest. The market is evolving to cater to consumers who prioritize comfort, inclusivity, and sustainability, aligning with changing economic dynamics.

Market Segmentation

The Global Lingerie Market is segregated into the segments as mentioned below:

The global Lingerie market can be categorized into Product Type, Distribution Channel, Region. The Lingerie market can be categorized into Briefs, Bras, Shapeware, Other Product Types based on Product Type. The Lingerie market can be categorized into Online, Offline based on Distribution Channel. The Lingerie market can be categorized into North America, Europe, Asia Pacific, Latin America, Middle East & Africa based on Region.

Based on Product Type

Briefs to Lead Maximum Market and share due Owing to their Versatility, Comfort, and Wide Variety of Options

In 2022, the Briefs segment dominated the market. Briefs are highly popular among women due to their comfortable yet stylish design. They offer full coverage, making them suitable for everyday wear. Additionally, briefs come in various styles, such as thongs, hipsters, high-waisted, and bikini briefs, catering to different preferences and body types. They are made from a range of materials, including cotton, lace, and satin, providing a wide range of choices for consumers. Furthermore, briefs are available in different colors and designs, allowing women to express their personal style.

Based on the Distribution Channel

Offline Segment Expects Dominion Owing to Convenience of Offline Shopping and the Wide Range of Options it Provides

Offline segment is expected to experience the greatest market growth during the forecast period. Offline channels include specialty Lingerie stores, department stores, and other physical retail outlets. These offline channels provide a tangible shopping experience that appeals to a wide range of consumers. Additionally, offline shopping allows customers to have a more immersive and sensory experience when choosing Lingerie, which is an important factor in this industry. Overall, the offline segment is expected to maintain its dominance in the Lingerie market in 2022.

Based on Region

Asia Pacific to Dominate Global Sales Owing to Increasing Demand from End-use Industries

The Asia Pacific region emerges as the largest market for Lingerie, witnessing a growing middle class with increasing disposable income. Chinese consumers, influenced by Western fashion trends, prefer online purchases and are embracing imported and online-only Lingerie brands. Additionally, Australian consumers prioritize comfort, driving demand for functional Lingerie and sustainable offerings.

The Lingerie industry in North America is rapidly growing in popularity. Inclusivity and female empowerment trends are gaining prominence, with brands like Savage X Fenty and Skims leading the way. The market is experiencing a shift towards comfort-focused choices, aligning with changing consumer preferences accelerated by the pandemic.

Competitive Landscape

The Lingerie industry features intense competition, with established giants maintaining dominance through brand recognition, expansive distribution networks, and continuous innovation. Simultaneously, niche brands differentiate themselves by focusing on specialized segments such as sustainable Lingerie, inclusive sizing, or personalized designs. Key players adopt strategies like mergers, acquisitions, and new product launches to attract consumers and expand their global footprint. Recent developments include collaborations, retail store launches, and the adoption of innovative technologies to enhance the overall shopping experience.

The key players in the global Lingerie market include - Jockey International Inc. (U.S.), Victoria’s Secret (U.S.), Zivame (India), Gap Inc. (U.S.), Hanesbrands Inc. (U.S.), Triumph International Ltd. (Switzerland), Hunkemoller (Netherlands), Bare Necessities (U.S.), Calvin Klein (U.S.), MAS Holdings (Sri Lanka) among others.

Recent Market Developments

• In June 2023, to enhance the shopping experience for customers, Victoria's Secret and Amazon Fashion have joined forces. This collaboration will offer a wide range of fashion items from Victoria's Secret and PINK, including panties, bras, swimwear, loungewear, and sleepwear, totaling over 4,000 products. Additionally, certain bra and apparel styles will be accessible through Amazon Prime's Try Before You Buy initiative.
• In February 2023, HanesBrands Inc. has introduced the Hanes Originals line, featuring a variety of innerwear options for women, men, girls, and boys, such as bras, underwear, T-shirts, and tanks. This collection combines dynamic patterns and colors with inventive materials. It consists of boxer briefs and trunks for men, showcasing youthful designs, contemporary fits, and a lower rise. The women's selection includes bra-tops, bralettes, boyshorts, bikinis, and thongs, available in seasonal prints and a comfortable cotton blend fabric.

Segmentation of the Global Lingerie Market