The global lingerie market is expected to be valued at USD 113.97 Billion by 2028 with the fashion industry constantly evolving. The demand for lingerie is driven by new designs, fabrics, and styles that appeal to consumers. The increase in disposable income among consumers has led to a rise in demand for premium and high-quality lingerie products. This shift is justified by enhanced comfort, style, and durability. As lifestyles evolve, consumers seek lingerie that is suitable for different occasions and activities; like comfortable and practical for everyday wear and sexy or alluring for special occasions. The rise of e-commerce has made it easier for consumers to purchase lingerie online, leading to increased convenience and accessibility. Consumers are becoming more aware of the importance of wearing comfortable and supportive lingerie to maintain good health and wellness, such as sports bras and shapewear.
Key Takeaways:
- Non-padded brassieres & briefs are the most popular product types, as they account for the majority of sales and continue to grow steadily at 5.6% and 4.1%, respectively.
- Shapewear demand is expected to change with fashion trends, seasonality, economic conditions, and shifting cultural attitudes at a CAGR of 7.58% over the forecast period.
- The choice between economy and premium lingerie depends on individual preferences, needs, and budget. While economy lingerie may be more affordable, premium lingerie may provide a higher level of comfort, durability, and design quality.
- Satin and cotton are both popular materials used in lingerie due to their comfort, durability, and softness; each accounts for 50% of lingerie sales.
- Lingerie is a personal and intimate item of clothing, and consumers prefer to purchase it from specialty stores that offer a wide variety of options and provide a more personalized shopping experience, with revenue worth USD 28.30 Billion.
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The lingerie industry is highly competitive, with a large number of players that lead to pricing pressures and reduced profit margins. With consumer preferences changing frequently, the lingerie industry finds it challenging, to invest huge sums of funds in research and development, marketing, and production. The cost of producing lingerie products with high-quality fabrics and materials can be high, which can reduce demand and limit growth. The lingerie industry is subject to a range of regulations, including safety and quality standards, labor laws, and environmental regulations.
The future trends expected to drive revenues in the Lingerie market during the forecast period are discussed here. Bikini panties are expected to be a popular choice among many women due to their comfort and versatility. Also, they provide moderate coverage and can be worn with a wide range of clothing styles. Boyshort panties are another popular choice among many women due to their comfort, coverage, and versatility, as they provide full coverage while still being a sexy and feminine option. They can be worn with a wide range of clothing styles, from tight-fitting pants to flowing skirts, and are a great option for those who want to avoid visible panty lines. Padded bras are a popular choice among many women due to their ability to provide shaping, support, and added fullness to the bust. Strapless or backless bras are particularly popular for special occasions such as weddings, proms, and other formal events where women may want to wear strapless or backless dresses; however, these bras may not be suitable for all women. Strapless and backless bras are a popular choice for women who want to wear clothing styles that require a bra without visible straps or a back band. Ultimately, the choice of lingerie style depends on individual preferences, needs, and comfort.
Online sales of lingerie products have become increasingly significant in recent years with 30% revenue shares and are anticipated to continue to rise at 8.32%. Many lingerie retailers have shifted their focus towards online sales due to the convenience and accessibility to consumers. Online shopping allows consumers to browse a wider range of products and compare prices and styles, with privacy and anonymity compared to in-store shopping. E-commerce is expected to continue to grow in the future, providing manufacturers to reach consumers directly. By investing in e-commerce platforms and digital marketing strategies, companies can expand their reach and improve their sales performance. The growing focus on sustainability presents an opportunity to differentiate themselves by adopting eco-friendly materials and production processes. Advances in fabric technology and 3D printing offer new opportunities for lingerie manufacturers to innovate and create products that offer superior comfort, support, and style.
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Companies that are able to stay ahead of these trends and adapt to changing market conditions will be well-positioned in the years to come. Consumers seek products that are comfortable and functional, rather than just aesthetically pleasing. Products that offer support, breathability, and ease of movement are in high demand. Seamless and wireless designs are gaining popularity, as they offer a comfortable and natural fit without the discomfort of underwire or seams. Bold Colours and Prints are in fashion, with bright hues and eye-catching patterns. Bridal lingerie is a growing trend, to cater to brides and their bridal parties. This includes products designed to be worn under wedding dresses as well as bridal lingerie sets for the wedding night.
Asia Pacific region is the largest consumer of lingerie products due to its large and growing population, which is a significant customer base. As incomes rise and consumer preferences evolve, the demand for high-quality lingerie products is expected to increase in these regions. Many consumers in the Asia Pacific region see lingerie as a form of self-expression and are willing to invest in quality products that make them feel confident and beautiful.
Europe is the second biggest market for lingerie products with more than 20% revenue shares. Europe has a long history of producing high-quality lingerie, with countries such as France, Italy, and the UK being known for their luxury lingerie brands. Furthermore, the rise of fast fashion has led to increased competition among lingerie retailers in Europe, with many offering affordable and trend-driven lingerie collections to cater to younger consumers. The European lingerie market is a competitive market, with a diverse range of brands and products catering to different consumer segments. The market is expected to continue to grow in the coming years at a CAGR of 6.62%, driven by factors such as increasing online sales, changing fashion trends, and rising demand for sustainable and ethically produced lingerie.
North America’s lingerie market share is less compared to Europe, as the latter has a strong reputation for quality and craftsmanship, and many European lingerie brands use expensive materials and intricate designs to create their products. The rise of e-commerce has made it easier for North American consumers to access a wide range of lingerie products from around the world. Online retailers such as Amazon, Bare Necessities, and Adore Me have become popular destinations for lingerie shoppers. The region’s lingerie market also faces challenges such as increasing competition, changing consumer preferences, and rising demand for sustainable and ethically produced lingerie. Online marketplaces such as Etsy and Shopify have made it easier for independent brands to set up online stores and reach a global audience.
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The population sizes and demographic trends of MEA and South American countries vary widely, affecting the demand for lingerie products. The MEA lingerie market is a relatively small but growing market, driven by factors such as changing consumer attitudes towards lingerie, increasing demand for luxury and high-end lingerie products, and rising disposable incomes in some countries. The market is also characterized by a diverse range of cultural and religious factors, which may influence consumer preferences and purchasing decisions.
The lingerie industry in South America is relatively less developed compared to other regions due to a relatively smaller market size, lower disposable incomes, and limited production capacities. The lingerie market is highly fragmented, with a large number of small and medium-sized companies operating in the region. This fragmentation makes it difficult for companies to achieve economies of scale and compete effectively with larger, established players in other regions. The South American lingerie industry is highly competitive, which makes it challenging for companies to differentiate themselves and gain a foothold in the market. Some countries have experienced political and economic instability in recent years, which has impacted consumer spending and investment in the industry.