According to a new report published by Allied Market Research, titled, "Intimate Wear Market by Gender, Age Group, Price, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2018-2025". The report offers detailed insights on top investment pockets, trends & opportunities, major segments, and competitive scenario. According to the report, the global intimate wear market generated $175.98 billion in 2017 and is expected to reach $325.36 billion by 2025, growing at a CAGR of 8.1% from 2018 to 2025.
Innovative product portfolio, changes in lifestyle preferences, and increase in awareness regarding hygiene drive the growth in the global intimate wear industry. However, the prevalence of dermatological conditions restrain growth in the market. On the other hand, the growth in the online retail industry and dynamic fashion trends create new pathways in the market.
Women contributed to major market share in 2017, accounting for nearly two-thirds of the total market share. This segment would continue its lead position by 2025. In terms of growth rate, it would register the highest CAGR of 8.5% from 2018 to 2025. This segment is lucrative due to aspirations of women to follow fashion trends and habit of spending more on intimate wear in comparison to men. The report also analyzes the men segment.
36 Years & Above Age Group to Lead By 2025
The 36 years & above age group contributed to nearly two-thirds of the total market share in 2017 and would maintain its dominance throughout the forecast period. Moreover, this segment would grow at the highest CAGR of 8.2% from 2018 to 2025. It would be a lucrative segment owing to the huge population base of this age group along with relatively higher spending capacity. Other age groups analyzed in the research are 13-17 years and 18¬-35 years.
Medium Price Range Dominates, Luxury to Grow Fastest
Medium price range contributed to more than one-fourth of the total market share in 2017 and is expected to maintain its dominating position throughout the forecast period. This is due to rise in demand from youth population, increase in adoption of western culture & lifestyle, and increase in number of working women. However, the luxury price segment would register the highest CAGR of 9.8% from 2018 to 2025, owing to rise in demand for stylish, sensuous, and premium intimate wear along with increase in disposable income. Other price ranges analyzed in the study are super premium, premium, economy, and low.
Mass Merchandizers to Dominate Throughout the Forecast Period
Mass merchandizers accounted for nearly half of the total market share in 2017, owing to availability of wide range of varieties at low cost and discounted prices. This segment would continue to dominate by 2025. However, the other distribution channels would grow at the highest CAGR of 9.4% from 2018 to 2025, owing to increase in penetration of internet and rise in tech-savvy consumers. The research also analyzes mono brand stores and specialized stores.
Asia-Pacific region would be lucrative during the forecast period. This region contributed to more than one-third of the total market share in 2017 and is expected to maintain its lead position by 2025. Moreover, it would grow at the fastest rate, registering a CAGR of 9.9% from 2018 to 2025. The research also analyzes regions including North America, Europe, and LAMEA (Latin America, Middle East, and Africa).
Frontrunners in the Industry
Leading market players explored in the research include L Brand Inc., American Eagle Outfitters (Aerie), Berkshire Hathaway Inc., Jockey International Inc., Hanes Brands Inc., Hanky Panky Ltd., Triumph International Ltd., MAS Holdings Ltd., PVH Corporation, and Chantelle SA. New product launches, expansions, collaborations, joint ventures, partnerships, mergers & acquisitions, and other strategies have been adopted by them to gain strong foothold and leading position in the industry.
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