How Big is the Lingerie Market ? :
IMARC Group’s latest report, titled “Lingerie Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on the lingerie industry statistics. The report also includes competitor and regional analysis, and contemporary advancements in the market. the global lingerie market size reached US$ 78.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 119.4 Billion by 2028, exhibiting a growth rate (CAGR) of 7% during 2023-2028.
What are Lingerie and Uses ? :
Lingerie is a highly sought-after product within the fashion industry, known for its intimate and seductive nature. It encompasses a range of undergarments and sleepwear, designed to enhance the wearer’s body while providing enhanced comfort and style. It is primarily worn underneath clothing as intimate apparel, it has evolved beyond its practical function and is now considered a fashion statement. Lingerie can be worn to evoke a sense of allure, romance, or playfulness.
It comes in a wide range of styles, catering to different tastes, body types, and occasions. From delicate lace bras and thongs to elegant satin chemises and seductive teddies, there is lingerie available for various preferences and moods. The purchase of lingerie is often associated with special occasions, such as weddings, anniversaries, or romantic encounters and the choice of lingerie can be highly personal, reflecting an individual’s style, personality, and preferences.
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Who are the key Players Operating in the Industry ?
- Fashion Nova LLC
- Hanesbrands Inc
- H & M Hennes & Mauritz AB
- Hunkemöller International B.V
- Jockey International Inc
- MAS Holdings
- PVH Corp
- The Gap Inc
- The Groupe Chantelle
- Triumph International Ltd
- Victoria’s Secret & Co
- Yandy Enterprises LLC
What are the Growth Prospects and Trends in the Lingerie Industry ? :
The global market is majorly driven by the widespread product utilization among the masses. Coupled with the changing preferences towards fashion trends are providing a boost to the sales of lingerie across the globe. Moreover, the emerging e-commerce sector has revolutionized the lingerie market. Online platforms provide convenience, privacy, and a vast array of options for consumers to explore and purchase lingerie products, which is acting as a growth-inducing factor. In addition to this, numerous leading players are heavily investing to create user-friendly e-commerce websites and mobile applications to provide personalized shopping experiences, thereby positively influencing the market. Furthermore, continual technological advancements and the integration of virtual try-on technologies and artificial intelligence (AI) further enhance the online shopping experience and helps reduce return rates, which is providing an impetus to the market.
Additionally, changing demographics, such as an aging population and increasing demand from younger consumers. The growing population of older adults presents opportunities for lingerie businesses to develop products that address specific needs, such as extra support, comfort, and age-appropriate designs, which are driving the lingerie market on the global level. Moreover, there has been a growing emphasis on sustainability and ethical practices within the lingerie industry. Consumers are interested in eco-friendly materials, fair labor practices, and supply chain transparency. As a result, many lingerie companies are adopting sustainable sourcing, manufacturing, and packaging practices to meet the demands of conscious consumers, thus supporting the market favorably. Moreover, younger consumers are embracing lingerie as a fashion statement and seeking trendy and playful styles. Adapting to the preferences and demands of these diverse consumer segments is essential for sustained growth, which, in turn, driving the market growth.
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Key Market Segmentation:
Breakup by Product Type:
- Brassiere
- Knickers or Panties
- Shapewear
- Others
Breakup by Material:
- Cotton
- Silk
- Satin
- Nylon
- Others
Breakup by Price Range:
- Economy
- Premium
Breakup by Distribution Channel:
- Mass Merchandizers
- Specialized Stores
- Online Stores
- Others
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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