Lingerie Market is estimated to be worth US$ 72.87 Billion by 2032-end with a CAGR of 7.10%
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Market Overview
The Lingerie Market size is expected to be worth around USD 72.87 Bn by 2032 from USD 36.70 Bn in 2022, growing at a CAGR of 7.10% during the forecast period from 2022 to 2032.
The lingerie market has seen an impressive surge in growth over the past few years. This is due to the increasing demand for comfortable and stylish lingerie products that offer comfort and support without compromising on quality. Consumers are increasingly looking for pieces that are both fashionable and functional, as well as affordable.
The market’s current trend reflects a focus on premium materials, luxurious designs, and innovative technology. High-end lingerie brands have been pushing boundaries with their collections of elegant bras, panties, camisoles, slips, corsets, and other garments that provide a perfect fit while giving wearers a feeling of confidence. Additionally, more people are becoming aware of their body shape which has led to an increase in demand for items specifically tailored to different body types.
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Key Takeaways
- The global lingerie market, which is valued at $36.70 billion in 2022, is a substantial segment of the fashion industry.
- Lingerie is women's intimate clothing such as bras and shapewear.
- Market forces include changing fashion trends, increased awareness of proper fitting, and a growing need for comfort and style when it comes to intimate apparel.
- E-commerce has made it easier to buy lingerie online. It also allows consumers to choose from a greater variety of styles.
- The market is dominated by major players like Victoria's Secret and Hanesbrands as well as Calvin Klein, Triumph, and Wacoal.
- Growing demand for ethically and sustainably produced lingerie has resulted in the creation of smaller companies that are focused on ethical production and eco-friendly materials.
- In the next few years, the lingerie market will continue to grow due to changing fashion trends, increased demand for stylish and comfortable undergarments, and the rise in e-commerce.
Regional Analysis
North America is the dominant market for lingerie, with the United States dominating the market. Changes in fashion trends, increased demand for comfort and style, as well as the rise of e-commerce, are all factors that drive this market. The region's major players include Calvin Klein, Hanesbrands, and Victoria's Secret.
Europe is a major market for lingerie. It is driven by countries like France, Italy, and the UK. This market is driven by high fashion awareness and growing demand for premium and luxurious lingerie. Triumph, H&M, and Wolford are the major players in this region.
Asia Pacific Countries such as India, Japan, and China are driving the Asia Pacific market for lingerie. Factors such as increasing disposable income, urbanization, and a growing need for Western-styled lingerie are driving the market. Wacoal and La Perla are the major players in this region.
Latin America Countries like Brazil and Mexico drive the Latin American lingerie market. This market is driven by changing fashion trends, increased awareness about proper fitting, and a growing need for stylish and comfortable undergarments. Lupo, Valisere, and Duloren are the major players in this region.
Middle East and Africa Although the Middle East and Africa are small markets for the lingerie it is rapidly growing. This market is driven by increasing urbanization, rising disposable earnings, and a growing need for Western-style lingerie. Agent Provocateur and Victoria's Secret are two of the major players in this region.
The lingerie industry is a worldwide market with significant demand in all regions. Factors such as changing fashion trends increased awareness about proper fitting, and growing demand for stylish and comfortable undergarments are driving this market.
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Drivers
Fashion Trends The lingerie market is heavily impacted by evolving fashion trends. New styles and designs are constantly being introduced, leaving consumers eager to keep up with the newest looks and fashions. Increased Awareness of Proper Fitting, Proper fitting is critical for comfort and support in lingerie, and consumers are becoming increasingly aware of its significance. This has spurred demand for larger-size options and specialized fitting services. Growing Demand for Comfort and Style Customers are increasingly seeking lingerie that provides both comfort and style. To meet this need, manufacturers are developing more comfortable fabrics and materials as well as stylish yet functional designs.
Rise of E-Commerce The growth in e-commerce has made it simpler for consumers to shop for lingerie online, providing them with more styles and sizes at their disposal. Furthermore, smaller niche brands can now enter the market and compete against larger, established names. Sustainability Gaining Focus There is an increasing interest in sustainable and ethically produced lingerie, as consumers seek brands that prioritize environmental and social responsibility. This has given rise to smaller labels using eco-friendly materials with ethical production practices. Rising disposable income As disposable income levels increases, consumers are increasingly likely to invest in luxury and premium lingerie. This has resulted in an increasing demand for high-end and designer styles of lingerie.
Overall, the lingerie market is driven by a combination of fashion trends, consumer preferences for comfort and style, as well as shifting attitudes toward sustainability and ethical production practices.
Restraints
Intense competition The lingerie market is highly competitive, with many established brands and a growing number of smaller, niche brands. This makes it challenging for new entrants to gain a foothold in the market and for established brands to maintain market share. Economic downturns The lingerie market can be sensitive to economic downturns, as consumers may cut back on non-essential purchases. This can lead to decreased demand and lower sales for lingerie brands.
Social and cultural norms can impact the demand for lingerie, particularly in conservative cultures or societies where modesty is emphasized. This can limit the size of the potential market in some regions. Supply chain disruptions The global lingerie market relies on complex supply chains that can be impacted by natural disasters, political instability, and other factors. Supply chain disruptions can lead to delays, increased costs, and reduced availability of products. Changing Consumer preferences can be unpredictable and can change rapidly, which can make it challenging for brands to anticipate and respond to changing demand.
Overall, the lingerie market faces several restraints that could impact its growth and profitability. Brands that are able to navigate these challenges and adapt to changing market conditions are more likely to succeed in the long term.
Opportunities
Emerging markets There is significant potential for growth in emerging markets such as China, India, and Brazil, where there is a growing demand for Western-style lingerie. Brands that are able to successfully enter these markets and adapt to local preferences and cultural norms can tap into a large and growing consumer base. Online sales E-commerce is a rapidly growing channel for lingerie sales, with many consumers preferring to shop online for privacy and convenience. Brands that invest in their online presence and offer a seamless, user-friendly shopping experience can capitalize on this trend and reach a wider audience.
Customization and personalization are increasingly important to consumers, particularly in the lingerie market where proper fit is essential. Brands that offer a range of sizes and styles, as well as personalized fitting services, can differentiate themselves from competitors and appeal to a wider range of customers. Sustainable and ethical production There is a growing demand for sustainable and ethically produced lingerie, and brands that prioritize environmental and social responsibility can attract consumers who are willing to pay a premium for these values. The men's lingerie market is a relatively untapped segment with significant growth potential. Brands that are able to successfully introduce and market men's lingerie products could tap into a new and expanding market.
Overall, the lingerie market offers several opportunities for brands that are able to adapt to changing consumer preferences and market conditions. Brands that are able to capitalize on these opportunities and differentiate themselves from competitors are more likely to succeed in the long term.
Challenges
Size and fit Proper sizing and fit are essential in the lingerie market, and many consumers struggle to find products that fit well. Brands that are unable to offer a wide range of sizes and styles risk losing customers to competitors who can. Intense competition The lingerie market is highly competitive, with many established brands and a growing number of smaller, niche brands. Brands that are unable to differentiate themselves from competitors risk losing market share and profitability. Rapidly changing fashion trends The lingerie market is highly influenced by rapidly changing fashion trends, which can make it challenging for brands to keep up with consumer preferences and maintain a relevant product line.
Supply chain disruptions The global lingerie market relies on complex supply chains that can be impacted by natural disasters, political instability, and other factors. Supply chain disruptions can lead to delays, increased costs, and reduced availability of products. Social and cultural norms can impact the demand for lingerie, particularly in conservative cultures or societies where modesty is emphasized. Brands that are unable to adapt to local preferences and cultural norms risk losing market share and profitability.
Overall, the lingerie market faces several challenges that could impact its growth and profitability. Brands that are able to navigate these challenges and adapt to changing market conditions are more likely to succeed in the long term.
Recent Development
Fast Retailing Co., Ltd., a Japanese listed company, is located in Japan. A global company with approximately 55,589 workers and revenues of US$ 19.1 Bn. While the company does make some revenue from its online lingerie marketplace in India, it is not its primary source of revenue.
MAS Holdings partnered up with BeyondXR digital retail software in February 2022 to create a virtual showroom that would enhance the retail experience. This partnership will enable MAS to showcase its new collection to global brands in a virtual gallery.
November 2022: Victoria's Secret & Co. announced a 100% acquisition of Adore Me Inc. (a digitally native intimate brand). This acquisition will help the online and offline lingerie and beauty products retailer grow its audience.
Report Scope
| Report Attribute | Details |
| The market size value in 2022 | USD 36.70 Bn |
| Revenue forecast by 2032 | USD 72.87 Bn |
| Growth Rate | CAGR Of 7.10% |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and the Rest of the World |
| Historical Years | 2017-2022 |
| Base Year | 2022 |
| Estimated Year | 2023 |
| Short-Term Projection Year | 2028 |
| Long-Term Projected Year | 2032 |
Frequently Asked Questions
What is the market study period?
The lingerie market is studied from 2017 – 2032.
What is the growth rate for the lingerie market?
The lingerie market is growing at a CAGR of 7.10%
Which region experiences the highest rate of growth in the lingerie market?
Asia Pacific is growing at the highest CAGR over 2022- 2032.
Which region is the largest in the lingerie market?
North America holds the highest share in 2022.
Who are the major players in the lingerie market?
Jockey International Inc, Zivame, Victoria’s Secret, Hanesbrands Inc, Gap Inc, Hunkemoller, Triumph International Ltd, Calvin Klein, Fashion Nova Inc.
Key Market Segments
Based on Type
- Brassiere
- Knickers
- Shapewear
- Others
Based on Distribution Channel
- Specialty Stores
- Multi-Brand Stores
- Online Channel
Top Key Players in Lingerie Market:
Listed below are some of the most prominent global lingerie market players.
- Jockey International Inc.
- Zivame
- Victoria’s Secret
- Hanesbrands Inc.
- Gap Inc.
- Hunkemoller
- Triumph International Ltd.
- Calvin Klein
- Fashion Nova Inc.
- Other Key Players
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