North America Lingerie Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

North America Lingerie Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The North American Lingerie Market is projected to register a CAGR of 5.23% during the forecast period (2022 - 2027)

The lingerie industry has witnessed robust growth, among the millennial populace, owing to factors such as rising brand mindfulness, and high spending capacity among working women are making a rewarding open door for the market players to arrive at new products for women. The growing demand for one-piece lingerie, shape wears, and seamless intimate apparel is some other factors driving the lingerie market. The demand for lingerie is driven by millennials in the area, who are more receptive to novel and diversified products than prior generations. The increased demand from millennials for novel and creative products in terms of color, fabric, pattern, and style benefits manufacturers. For instance, in May 2021, Zara and Fruit of the Loom collaborated to release their first joint capsule collection, which is now available in United States shops. The brand-new women's line includes high-quality, vividly colored hoodies, shorts, and jeans, as well as undergarments.

Over the medium term, the shift in perception of lingerie from the necessity to wardrobe staple has been a major factor driving demand for fashionable lingerie. The pandemic accelerated the already popular comfort-wear trend, pushing sports bras, soft cup silhouettes, and relaxed-fit briefs to the fore through advertisement and celebrity endorsement.

Additionally, with the rising working women population, there is a huge demand for fashionable lingeries as they are willing to pay even more for top branded products owing to the high disposable income of the consumers, which has changed consumer spending behavior. Hence, the above-mentioned factors are accelerating the growth of the market studied.

Key Market TrendsRising Social Media Advertisements Speeds Up Growth

The lingerie industry has been witnessing robust growth, as consumers are more concerned about the latest trending fashion and comfort. The young generations are mainly influenced by commercial advertisements, movies, and celebrities promoting lingerie through social media platforms which help in augmenting the market growth. Over the medium term, It appears that the usage of the internet during the pandemic, for a variety of purposes, has increased people's needs for data. According to data released by the United States Census Bureau in 2020, 85.5 percent of all United States homes reported having some type of internet subscription. Further, with the growing trend in fashion visual merchandising, where merchants are leveraging celebrity paparazzi photography more like magazines, selecting an edit of clothes that fit in with a celebrity's "image," even while the celebrity isn't supporting their products. Startup companies frequently use social media influencers to sell their goods since they have the potential to impress potential customers and persuade them to visit the store or make purchases using the link that is shared in the post itself.

However, the presence of celebrity endorsement is a new way of advertising products on social media to increase the sales of the product by encouraging consumers. For instance, the well-known pop icon Rihanna offered intimates and loungewear under the Savage X Fenty brand and used social media to advertise the company's products. The company stated on social media in January 2022 that it was expanding and will be establishing six new stores in various cities, including Chicago, Long Island, and Detroit, among others. Hence, the above-mentioned factors are accelerating the growth of the market studied.

United States Holds Largest Share

The lingerie market in the United States is experiencing rapid expansion due to the growing number of financially independent women, rising per capita income levels, rapid urbanization, and the growth of sales channels are predicted to further propel the lingerie market in the country over the forecast period. Americans prefer wearing strapless and wire-free padded bras and innovation has made it easier for women to opt for different sizes of wire-free bras that are comfortable, supportive, and attractive, technology has put pressure on underwire bras. Further, with the increasing demand for fashionable fabric lingerie such as lace briefs, and stylish silhouettes, the players are innovating and introducing erotic lingeries in various sizes to cater to all size ranges. For instance, in 2021, LoveSuze, a New York-based women’s lingerie retailer, launched a new lace lingerie collection, Live Your Life In Color, for women ranging from XS to 3X. The Live Your Life in Color collection features a combination of Comfort-Stretch and Ever-Stretch bras and underwear including racerback bralettes, triangle bralettes, thongs, hipsters, bikinis, and slips. The pieces in this collection are comfortable and feature Flex-Sizing which complements every woman's body type and lifestyle. Hence, the increase in technological advancement and the strategic investments by market players is augmenting the lingerie market growth during the forecast period.

Competitive Landscape

The North American lingerie market is competitive with the presence of various global and regional players offering different categories of lingeries in the market. The key players are Victoria's Secret & Co., Groupe Chantelle, MAS Holdings, Authentic Brands Group LLC, and Triumph International, among others. The major players are engaging in industry consolidation through partnerships or acquisitions of well-known domestic companies, which has heightened competition among other existing players in the market. Further, the players are focusing on launching new products as per the demand of the consumer and promoting their newly launched products through innovative marketing strategies to penetrate the regional market. For instance, in April 2021, Chantelle declared the launch of the world’s first 100% recyclable bra, Chantelle One in the global market. After using a Chantelle One product, the buyer may return it or mail it back. It will be recycled, and the buyer will earn credit against new Chantelle bras and underwear.

Additional Benefits:

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

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