Lingerie Market Set to Grow at 7.8% CAGR, Driven by Asia-Pacific Dominance

Lingerie Market to Reach 79.30 Billion by 2030

The global Lingerie Market Size is growing at a significant pace and is projected to reach around USD 79.30 billion by 2030. The market is well established & is growing with a CAGR of 7.8% from 2024 to 2030 as per the report.

Market Overview

Lingerie includes different types of intimate apparel such as bras, panties, corsets, and sleepwearLingerie has moved past just being hidden garments of function, into fashion garments that are functional, comfortable and help to boost confidence and beauty. The contemporary lingerie market reflects a wide range of consumer desires, with functional styles ranging way beyond the basic.

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Key Market Drivers

The growth of the lingerie market is driven by several factors:

Increasing Working Women: As women have started working in higher numbers as compared to men, they are more financially independent than ever and they are spending more on their own clothes including underwear. The more variety of women do need for the working women category includes lingerie that can be worn even under professional clothes, social engagements, as well as for professional women.

Increased Interest in Health and Fitness: With more emphasis on health and fitness, there has been a growing request for specialist classifications of underwear like sports bras and other activewear undergarments that indeed provide assistance while training.

Opening Options for Fabric and Design: Technological improvements in fabric and design have led to improved comfort, durability, and appearance of lingeries. Moisture-wicking materials, seamless construction, and adaptive fit technologies are features that cater to the changing demands of consumers.

Expansion of Online Retail Penetration: E-commerce platforms have expanded dramatically, providing consumers around the world with access to a broad selection of lingerie products. This could be due to the anonymity of shopping over the Internet, the ability to compare products more easily, or reviews people post of products that help with the decision to buy.

Market Segmentation

The report identifies key segments of the lingerie market as per product type, distribution channel, and region as follows:

By Product Type:

Bras — Push-up, balconette, sports bras, and bralettes can cover a range of support and fashion requirements.

Underwear: Includes thongs, briefs, boyshorts, and more for comfort and coverage.

Shapewear - Clothing designed to shape and support the body, popular for everyday and special occasions.

Sleepwear and Loungewear: Relaxing clothing meant for sleep, relaxation, focused on comfort but style and even utility.

By Distribution Channel:

Brick-and-mortar Stores — Traditional retail outlets, along with specialty lingerie boutiques, department stores, and mass merchandisers.

Online Retail: E-commerce sites and branded online stores with a wide variety of products at your fingertips from the comfort of your home.

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Regional Insights

North America: The region holds the largest global lingerie market share with high consumer purchasing power and growing demand for premium and luxury lingerie products. The steady presence of loyal and well-established brands and a focus on innovative designs help maintain stability in the market.

Asia-Pacific — expected to be the fastest-growing region during the forecast time. Factors like urban-generations, an increasing middle-class population, and evolving cultural norms are creating a growing acceptance and demand for different styles of lingerie. Furthermore, online retail penetration has also increased consumer choice when it comes to purchasing lingerie.

Competitive Landscape

The global lingerie market is characterized by intense competition among various players who compete for market share by introducing new products, entering into partnerships, and expanding their presence in new markets. Notable companies include:

Victoria's Secret — One of the biggest brands in the world, Victoria's Secret has a wide range of lingerie, brings fashion-oriented designs to the consumer, and has a massive retail footprint both on the ground and through its online business.

Hanesbrands, Inc.: Competitively priced and known for comfort, Hanesbrands has a suite of intimate apparel that appeals to a wide range of consumers under brands like Maidenform and Playtex.

Triumph International: A brand with a strong foothold in Europe and Asia, Triumph is known for its quality craftsmanship, and it boasts a wide product portfolio that includes options for varied body types and preferences.

Savage X Fenty by Rihanna: A newer competitor that has changed things up and focused on inclusivity, creating a diverse assortment of sizes and styles.

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Recent Trends and Developments

Inclusion and Diversity: More brands are moving towards inclusivity by providing a wider variety of sizes, shades of skin-tones and styles to meet the needs of different body types and cultures. Consumers were looking out for personalized and relatable product designs and this shift towards representation played a huge role.

Sustainable and Ethical Practices: Consumers are being more environmentally aware and this has made brands to work towards the participation of sustainable materials, ethical manufacturing process and transparent supply chains. Sustainable lingerie produced from organic fabrics and recyclable materials is increasing in popularity,

Men's Shapewear Popularity: The shapewear space has long been developed for women, but now is starting to advertise more towards men. More men are grooming their bodies these days, and brands are responding with sculpting girdles, compression shirts, and heady boxers to goad consumers through feasibly fission the early 21st century. The trend is only part of a growing acceptance of male figure hugging garments, thanks to social media and cultural openness.

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