According to Custom Market Insights (CMI), the Lingerie market is expected to grow at a compound annual growth rate of 8.5% during the forecast period from the year 2022 to the year 2030. This pocket offers different types of lingerie like panties, knickers, brassiere, shapewear, etc these products are offered in different types of materials like cotton satin, silk and nylon. Manufacturers have become mindful about providing the proper fit for different body types and this is expected to drive market growth in the coming years.
Browse the full “Lingerie Market Size, Trends and Insights By Type (Brassiere, Knickers, Cheaper, Sportswear, Others), By Distribution Channel (Multi Brand Stores, Specialty Stores, Online Platform), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2022–2030” report at https://www.custommarketinsights.com/report/lingerie-market/
Regional Snapshots
The European region is expected to dominate the market in the coming years. And there’s a large amount of working population of women in the European region the market is expected to grow well. As the manufacturers are engaging in improving their product portfolio the market will continue to grow in the coming year. Innovative designs and colors will play an important role in the growth of the market.
The North American region is also expected to grow well in the coming years due to the increased purchasing power of the women in this region. Online retailing is expected to play an important role in the growth of the North American market. Digitalization has also played an instrumental role in the growth of the market. As a large number of prominent players are based in the North American and European regions the market in these regions will continue to grow well in the coming years.
Market Dynamics
Drivers
Manufacturers of lingerie concentrate on providing a proper fit for the diverse consumer base. These companies are mindful of the social and cultural outlooks of various nations. The increased purchasing power of the developing nations has been instrumental in the growth of the market.
As these products are accessible in developing nations across the globe the market will continue to grow in the coming years. This market is driven by functional wear. In order to provide better comfort and effective coverage, manufacturers are concentrating on providing products that are functioning specifically. Growing demand for stylish undergarments will drive the market growth for lingerie across the world. Increased mindfulness about the brand will also lead to the growth of the market in the coming years.
Manufacturers are concentrating on providing creative products for intimate wear and this is one of the factors that will drive the market growth in the coming years. As a large number of women population is working in the corporate sector the demand for lingerie will continue to grow in the coming years.
The women of the working class will have a greater demand for these products as they have a high amount of disposable income. In developing nations, there is a growth in the demand for functional lingerie due to the awareness about these products are other factors that will drive the market growth order improved standard of living and better hygiene practices. The demand for luxury Lingerie will also grow in developing nations due to an increase in the purchasing power of women in these regions.
Restraints
Increased sophistication in the woman population across the globe. variations are provided in the product in order to meet the demand of the diverse class of women. These products are offered in different types of materials and fashion. A wide range of lingerie is available at expensive rates. the high prices of branded lingerie or the high prices of occasion-specific lingerie will hamper the growth of the market in the coming years.
Opportunities
Increased exposure to social media is expected to provide better opportunities for the growth of the market in the coming years. Social media has been instrumental in increasing the reach between consumers and marketers. use of Twitter, Facebook and Instagram has boosted the sales of lingerie in recent years. Manufacturers are focusing on making use of these platforms for building better relationships and promoting their products. There’s a lot of content on social media which is dedicated to intimate wear. This platform plays an extremely important role in the growth of the market. Youth is active on these platforms and the promotion of lingerie on these platforms will drive market growth in the coming year.
Challenges
This market is seen to be extremely fragmented. There are a large number of manufacturers present in the market across the globe. These manufacturers are posing tough competition for the key market players. These manufacturers are providing good quality materials with lower prices and better designs.
All of these factors will hamper the growth of the market in the coming years period and this is expected to be a major challenge in the growth of the market as it happens to be an unorganized sector. the sales of the major manufacturers are hampered to a great extent due to these market players. The developing nations are price sensitive and the fragmented market will grow for these regions.
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Report Highlights
Availability of Brassiere in different fabrics and designs due to the adoption of technology for providing designer products will drive the market growth in the coming years. Growing demand for seamless products will drive market growth. This segment is expected to dominate the market in the coming years. Mindfulness about the availability of brands and luxury products will drive the growth of this segment during the forecast period. Knickers are offered in comfortable fabrics like nylon and cotton. As a wide range of products is available in this segment the market will continue to grow in the coming years. Depending upon the coverage offered by the knickers the market shall see growth in the coming years.
The sales of the Lingerie should be maximum through the multi brand stores. The availability of the trial facility at these physical stores will drive the market growth in the coming years. The buying decision of the consumers is aided by the availability of an associate which helps in choosing the correct pattern and size. The sales of these products through the online platforms are also expected to grow as many market players are available on these platforms. Portals of Victoria’s Secret and jockey international will also be helpful in the growth of the market in the coming years.
Market Players in the Lingerie Market
- Victoria’s Secret
- Pink
- Zivame
- GapBody
- Amante
- Bare Necessities
- Calvin Klein
- Triumph
- Marks And Spencer
- Jockey
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