Lingerie Market to Expand at CAGR of 8.5% During Forecast Period, Observes TMR Study

 - Over the last two to three decades, women's choice of appropriate underwear for different occasions has risen, which is likely to bolster the growth of the global market 

 - In 2020, North America held the largest share of the global lingerie market, and this trend is likely to continue during the forecast period

ALBANY, N.Y., Feb. 23, 2022 /PRNewswire/ -- The global lingerie market was valued at US$ 46.55 Bn in 2020. The global market is predicted to rise at a CAGR of 8.5% during the forecast period, from 2021 to 2031. The global lingerie market is anticipated to surpass US$ 93.1 Bn by 2031. In order to meet the growing demand for lingerie, lingerie firms are extending their product ranges. Furthermore, continuous product innovation by lingerie firms with improved comfort in lingerie is likely to expand the global market during the forecast period.

Moreover, women have an emotional connection with various brands of underwear they choose. Consumers did not previously had a wide range of options while purchasing underwear. Women's taste and choices evolved with rise in the number of working women and their disposable income, allowing them to analyze and compare the quality of different lingerie brands. This resulted in diverse buying decisions.

In the global lingerie market, North America is predicted to hold the highest CAGR during the forecast period. Key competitors in the region's lingerie market are embracing new technologies in order to supply clients with high-quality items. Rise in promotional activities is predicted to have a favorable influence on the regional market.

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Key Findings of Market Report

• During the forecast period, the bra segment is likely to lead the lingerie market in terms of product type. The lounge wear category is expected to increase at a rapid pace throughout the forecast period, based on growth rate. Lingerie is projected to gain popularity at a rapid pace in the fashion business. Women from all walks of life are eager to check out the latest innerwear styles.
• Lingerie demand has grown more with rise in disposable income of women across the world
• Customers are attracted to numerous online shopping websites due to the bargain opportunities they provide. Lingerie and other commodity sales have been boosted even more by the growing number of online shopping websites. In order to make their presence known, major companies in the e-commerce business are constantly giving more attractive discounts to customers.
• Lingerie manufacturers are progressively incorporating novel elements into their existing items. The lingerie segment is expected to have a large number of developments and product expansions as suppliers focus more on providing comfort to consumers.

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Global Lingerie Market: Growth Drivers

• The global lingerie market has already observed substantial expansion in the recent years, as it is regarded as a basic need for all women throughout the world as well as a fashionable accessory
• Rising disposable income, along with increase in popularity of sportswear, swimwear, and loungewear in promising revenue-generating countries such as China and India, is likely to fuel the online retail business, and hence the lingerie market in the years to come

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Global Lingerie Market: Key Players

Some of the key market players are

• LVMH Moet Hennessy Louis Vuitton
• Marks & Spencer Group Plc
• Ralph Lauren Corp.
• Victoria's Secret
• Calvin Klein
• Jockey International, Inc.

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Global Lingerie Market: Segmentation

Product Type

• Bra
• Knickers and Panties
• Lounge Wear
• Shape Wear
• Others

Material

• Cotton
• Satin/Synthetic Silk
• Woolen
• Polyester
• Velvet
• Others

End User

• Male
• Female

Price Category

• Low
• Medium
• High

Distribution Channel

• Online
• Offline

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