Erotic Lingerie Market - Growth, Trends, and Forecasts (2023 - 2028)

Erotic Lingerie Market - Growth, Trends, and Forecasts (2023 - 2028)

The erotic lingerie market was valued at USD 19,263.2 million last year and is projected to register a CAGR of 6.73% over the forecast period.

Over the past few years, the erotic lingerie industry has been witnessing robust growth, which is expected to continue in the future. Consumers, primarily women, are more concerned about their dress and comfort. The erotic lingerie market is driven by increasing disposable incomes, increased urbanization, and exposure to western culture. Female consumers are mainly influenced by commercial advertisements, movies, entertainment channels, and other modes of media, which have helped augment market growth. Moreover, consumer buying behavior has transformed substantially in recent years, which can be primarily attributed to an increase in disposable income and increased spending on products for self-enhancement. As a result, the per capita spending on lingerie globally has substantially increased.

Growing demand for erotic bras and the introduction of comfortable and stretchable yet stylish materials for intimate wear, such as off-the-shoulder styles, halter bras, and bandeau bras, among consumers worldwide are boosting the growth of the market studied. Additionally, the advancement in the innovation of softer and skin-friendly materials to ensure comfort along with a stylish look has been attracting a positive response from female consumers worldwide. Such factors are boosting the sales of erotic lingerie globally.

In an age of diversity, the erotic lingerie industry has seen a significant shift over the past few years. Generation-Z-approved direct-to-consumer (DTC) brands have disrupted the space, vying for market share from legacy players. Moreover, in recent years, erotic lingerie styles have pivoted away from the bust-emphasizing styles popularized in the '90s to reflect modern consumers' demand for comfort and functionality, wherein the silhouettes have evolved with comfort at their core. With the growing internet penetration globally, there has been a significant increase in the importance of social media in a shopper's purchase journey. Companies are evolving and stepping up their advertising, marketing, and endorsement game across different channels of distribution, including specialty stores and online retail stores, among others, using television, social media, magazines, and other print media as a medium for garnering consumer attention.

With celebrities vouching for or promoting their products, brands can increase awareness, trust, and familiarity, which are important variables in the purchase decision-making process. Consumers feel more sympathetic toward a brand if its products are promoted by a celebrity they admire or relate to. It is just a straightforward psychological effect whereby the consumers subconsciously feel that buying a product marketed by a celebrity they admire will replicate the celebrity's desired attributes or attract people who share their interests.

Increasing disposable incomes, increased urbanization, and exposure to western culture have led to the rapid growth of the erotic lingerie market in the Asia-Pacific region. Companies operating in the market are increasingly investing in marketing and sales infrastructure in the region to capture the growing market, which has started yielding results. Online lingerie shopping witnessed significant growth as a growing number of Asian consumers have taken to purchasing bras, panties, underwear, babydolls, and other lingerie items using e-commerce platforms like Amazon, Walmart, Oysho, Marks & Spencer's, H&M, Damiko, Elf Boutique, Honey & Dear, and Jujumello. As a result, it fuels the market for erotic lingerie in the region over the forecast period. Therefore, with increasing consumer interest in online shopping, retailers are expanding their presence on e-commerce platforms.

The erotic lingerie market is highly competitive owing to the presence of multiple regional and multinational companies offering a wide range of erotic lingerie products and trying to maintain their leadership position in the market studied. Major players in the market include Victoria's Secret & Co., Triumph International, Zivame, Lise Charmel, and Groupe Chantelle, each of which holds a significant share of the market studied. These players have been undertaking business strategies, including product innovations, partnerships, strengthening their hold over online and offline marketing, and mergers and acquisitions to expand their visibility and portfolio of offerings, thus, augmenting the growth of the market.

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support