Global Lingerie Market Report and Forecast 2023-2028

Global Lingerie Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the global lingerie market reached a value of USD 81.1 billion in 2022. Aided by the rising demand for premium, comfortable innerwear, and the fashion-forward approach of consumers, the market is projected to further grow at a CAGR of 5.71% between 2023 and 2028 to reach a value of USD 123.4 billion by 2028.

Lingerie is not merely a term for women’s undergarments but represents a world that amalgamates fashion, comfort, and luxury. Serving dual purposes – functionality and aesthetics – it has significantly evolved from basic undergarments to fashion statements. Primarily worn to protect and support the physique, lingerie nowadays is emblematic of self-expression, empowerment, and sensuality. This evolution extends beyond personal wardrobes, making notable appearances in fashion runways and influencing popular culture.

The escalating consumer preference for intimate wear that aligns with their personal style and provides unmatched comfort is a pivotal driver of the global lingerie market growth. The current generation, known for its individualism and the urge to express oneself, is gravitating towards pieces that resonate with their identities. Such personalised fashion choices are giving a substantial push to the market for lingerie, as brands continually innovate and diversify their offerings.

Furthermore, the digital revolution has enormously bolstered the lingerie market expansion. With the proliferation of e-commerce platforms and social media, there's an exponential rise in the exposure to global trends. Brands are leveraging influencers and celebrities to showcase their collections, which, in turn, impacts consumer buying patterns. The online space has also allowed for an inclusive dialogue about different body types, leading to an increased demand for size-inclusive and body-positive lingerie ranges.

Parallelly, advancements in fabric technology play an understated yet significant role. Modern-day lingerie is a blend of aesthetic appeal and technology. From fabrics that offer moisture-wicking properties to those that adapt to temperature changes, technological integration is reshaping the consumer's lingerie experience. Such innovations not only ensure enhanced comfort but also longer garment life, making it a win-win for both brands and consumers.

The lingerie market is also witnessing a palpable shift towards sustainable practices. The environmentally conscious consumer is progressively seeking brands that echo their values. Brands incorporating eco-friendly materials, such as organic cotton or bamboo, and promoting ethical manufacturing practices, are drawing considerable attention. This shift towards sustainability is not merely a trend but is rapidly becoming a new standard in the market.

Moreover, athleisure, a trend marrying comfort with style, is influencing the lingerie segment as well. Sports bras and bralettes, which were once confined to gym bags, are now proudly flaunted in day-to-day wear, thanks to their blend of support and style. This trend is particularly gaining traction among millennials and Gen Z consumers, further expanding the lingerie market outlook.

Market Segmentation

The market can be divided based on type, distribution channel, and region.

Market Breakup by Type

• Bras
• Briefs
• Shape Wear
• Others

Market Breakup by Distribution Channel

• Supermarkets/Hypermarkets
• Speciality Stores
• Online
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global lingerie companies. Some of the major key players explored in the report by Expert Market Research are as follows:

• Jockey International, Inc.
• Victoria's Secret & Co.
• Calvin Klein, Inc.
• Hanesbrands Inc.
• Fruit of The Loom, Inc.
• PVH Corporation
• Gap, Inc.
• Triumph International Ltd
• H & M Hennes & Mauritz AB
• MAS Holdings (Private) Limited
• Groupe Chantelle
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.