Global Lingerie Market is projected to reach USD 51.23 billion by 2025 at a CAGR of 4.5% over the forecast period. Awareness of the product, changing fashion trends, and rise in purchasing power of customers are major drivers of the market. The dual nature of functionality and comfort in lingerie brands are enticing customers in droves. The inner garment accounted for 20% of purchases of women’s apparel in 2020.
Lingerie is a category of women’s innerwears that are lightweight and provide immense comfort. Different types of lingerie are procured by women due to their rising income levels. The global lingerie market report by Market Research Future (MRFR) contains valuable insights on developments, sales, and aftermarket services while keeping a pulse on trends and opportunities for the period of 2019 to 2025 (forecast period). The COVID-19 pandemic and its impact on the industry has been explored at length.
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The influence of social media, convenience of online shopping, and rise in per capita income levels in countries of Brazil, India, and China can fuel the market growth. The focus of manufacturers on product innovation and design can act as a catalyst.
Marks & Spencer Group plc, Fashion Nova, Inc., Triumph International, Calvin Klein Inc., Hunkemöller International B.V., Bluebella Ltd, Yandy LLC, La Senza Corporation, Hennes & Mauritz AB, Jockey International, Inc., LVMH Moët Hennessy – Louis Vuitton SE, Parfait Lingerie, Victoria’s Secret, Groupe Chantelle, and MAS Holdings are key players of the Global Lingerie Market.
The market is highly intense and dynamic in nature. Changing attitudes of women towards innerwear, rise in women’s empowerment movement, and body positivity are likely to affect the global lingerie market in the years ahead.
By product type, it is segmented into shape wear, lounge wear, knickers and panties, bras, and others. The ‘others’ segment includes camisoles, stockings, pantyhose, slips, robes, and corsets. Among products, bras accounted for the largest segment of the market. The availability of various styles and fabrics, continuous changes in technology, and focus on comfort have increased the share of bras in the lingerie market. Shape wear has gained popularity in and used under fitted clothes to alter the wearer’s body shape. Increasing awareness of the product and its use in providing a charming appearance to the user are expected to boost the demand for shape wear in the global lingerie market.
By price range, the Global Lingerie Market segments itself into economy and premium. Economy occupies the larger share of the market. The products in this category are easily available in hypermarkets and supermarkets. The segment is also expected to register the highest CAGR during the assessment period owing to being affordable to the common masses. On the other hand, the premium segment is able to capture a significant market share by being appealing to elite clients. The availability of high-end lingerie in specialty stores can propel the segment growth.
By distribution channel, it is divided into store-based and non-store-based. The store-based segment is projected to be larger during the forecast period. It comprises supermarkets and hypermarkets, specialty stores, and others. Store-based channels of distribution are popular owing to their wide consumer reach, visibility, and a large range of offerings. On the contrary, the non-store-based segment can score a skyrocketing CAGR owing to product delivery range and scaling at a huge speed without the presence of physical stores.
Europe held the largest market share of the global lingerie market in 2020. Continuous innovation in product ranges is the major factor driving market growth. Presently, manufacturers are focusing on product developments and using different fabrics and technologies in the manufacturing processes.
North America is a lucrative market for lingerie. The annual product launches, display at fashion shows, and marketing campaigns are projected to continue to influence the regional market growth. The high demand for different varieties of lingerie in the US and Canada markets can facilitate market growth in the coming years. Low foot traffic in malls and competition from online players can threaten the regional market growth.
The market in the APAC is projected to register the highest CAGR during the forecast period. The region is expected to be a new revenue pocket for the lingerie market due to the large working women force in developing countries. Influences from pop culture can drive market growth.
In Rest-of-the-World (RoW), the growth of women’s apparel sector and increasing consumer awareness of lingerie are expected to augment the growth of the market in the region during the review period.
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