Consumer Awareness about Body Positivity and Rising Purchasing Power of Women to Fuel Global Intimate Lingerie Market Growth | Future Market Insights, Inc.
The United States is expected to increase at a CAGR of 8.30% from 2024 to 2034, making the United States the dominant player in the North American lingerie market.
NEWARK, Del, Jan. 07, 2024 (GLOBE NEWSWIRE) -- The market for intimate lingerie is predicted to be valued at *US$ 14,584.80 million* in 2024 and is expected to attain a worth of *US$ 35,166.30 million* by 2034. The market is projected to register a *CAGR of 9.20% *from 2024 to 2034. The global market for intimate lingerie is expected to expand owing to a variety of factors, including increasing awareness of product suitability, the rising population of millennials, and the growing financial strength of women. All these factors are expected to influence the market demand positively over the forecast period.Lingerie designers vigorously emphasize providing a tailored fit for their diverse customer base, considering different nations' cultural and social perspectives. The market has encountered notable growth due to the increasing purchasing power of people in developing countries, further leading to market expansion. Functionality is the main driving force of the market, with manufacturers developing products to cater to specific functions that provide superior comfort and coverage. The demand for fashionable undergarments is also a significant contributor to the global lingerie market, with greater brand awareness expected to boost its growth in the future.
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Intimate apparel that fits well looks stylish, and feels comfortable is in high demand due to changing consumer preferences. The lingerie market has expanded with the rise of eCommerce, offering more options and convenient home delivery. The lingerie industry has become more inclusive and body-positive, with diverse sizing options that attract a broad customer base. Influencers and celebrities showcase lingerie on social media, influencing consumer choices. Innovations in designs and fabrics have brought functional and trendy options to the market. Intimate lingerie is often associated with special occasions and gifting, such as weddings and Valentine's Day, contributing to market demand.
Consumers are increasingly seeking environmentally friendly and ethically produced lingerie options due to the growing awareness of sustainable practices. The market's growth is fueled by rising affluence, urbanization, and the desire for fashion and lifestyle products.
“The lingerie market has transformed into a comfortable, stylish, and well-fitted industry. The growth of eCommerce has brought a variety of options to consumers' doorsteps. The industry has become more inclusive by providing lingerie for diverse sizes and body positivity. Social media and celebrity influence have impacted consumer choices, while innovations in design have brought functional and trendy prospects to the market. Sustainable and ethical practices have also gained traction. Rising affluence, urbanization, and the desire for fashion and lifestyle products fuel the market's growth,” Sneha Verghese, Senior Consumer Goods and Products Consultant at Future Market Insights (FMI).
*Key Takeaways from the Intimate Lingerie Market*
· The United States intimate lingerie market is increasing at a CAGR of 8.30% through 2034.
· China's intimate lingerie market is projected to grow at a CAGR of 11.30% until 2034.
· Germany's innerwear fashion market is expected to achieve a CAGR of 7.50% during the forecast period.
· India's lingerie fashion market is expected to grow at a CAGR of 10.10% during the forecast period.
· The intimate lingerie market is estimated to be dominated by briefs, with a market share of 55.20%.
· The offline distribution segment is expected to hold a market share of 56.40%.
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*Key Strategies*
The intimate lingerie business is extremely competitive worldwide, with manufacturers always looking to grow their customer base and enter new markets. Intimate lingerie firms use various methods, including partnerships and alliances, mergers and acquisitions, product launches, international expansion, and other approaches, to retain market positions and grow their operations. Designers of intimate apparel use a variety of strategies to keep one step ahead of the competition and satisfy the needs of customers in different markets.
*Key Players:*
· Jockey International Inc.
· Victoria’s Secret PINK
· Zivame
· Gap, Inc.
· Hanesbrands Inc.
· Triumph International Ltd.
· Hunkemoller
· Bare Necessities
· Calvin Klein
· MAS Holdings
· Wacoal Holdings Corp.
· Chantelle
· Tailor and Circus
· HanesBrands Inc.
· Love & Lemons
· J.Crew
· Mark & Spencer*Recent Developments*
· In November 2023, Intimissimi launched a new holiday line of products featuring Heidi Klum and her daughter Leni. The Italian fashion brand's marketing strategy has targeted younger customers by leveraging the models' social media presence.
· In October 2023, La Vie En Rose, a Canadian lingerie retailer, opened a new store in Bengaluru offering sleepwear, lingerie, and swimwear for women aged 25 to 45. It also provides omni-channel retailing options for Indian customers.
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*Market Segmentation*
*By Product:*
· Bra
· T-shirt bra
· Sports bra
· Minimizer bra
· Push-up bra
· Bralettes
· Nursing bra
· Others
· Knickers and Panties
· Briefs
· Thongs
· Boy Shorts
· Boxers
· Others
· Loungewear
· Shapewear
· Swimwear*By Material:*
· Cotton
· Satin
· Silk
· Muslin
· Rayon
· Net
· Others*By Distribution Channel:*
· Online Distribution
· eCommerce websites
· Company-owned websites
· Offline Distribution
· Hypermarket/Supermarket
· Brand Stores
· Retail Store*By Region:*
· North America
· Europe
· Asia Pacific
· Latin America
· The Middle East & Africa
*Author By:*
Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods.
Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, technology projects, and driving successful implementations. She has helped create insightful, relevant analysis of Food & Beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals.
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI is the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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