Lingerie Market Analysis

Global Lingerie Market Overview

Lingerie Market Size was valued at USD 94.9 billion in 2021. The Lingerie market industry is projected to grow from USD 99.18 Billion in 2024 to USD 135.16 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 4.52% during the forecast period (2024 - 2030). The growing number of millennials and increased understanding of items' optimum fits are the key market drivers enhancing the market growth.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Lingerie Market Trends

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  Growing prevalence of lingerie with each dress to boost market growth

  
  

The market's expansion is that every dress for women requires a specific form of lingerie to highlight their physical characteristics. Due to this, industry participants are expanding the product varieties to provide the highest level of comfort and fashion. A brand owned by Mas Holdings called Thinx will introduce better plus-size period panties in June 2021. Thinx created this collection of vintage underwear with authentic plus dimensions in sizes XS to 4X. Every style was tested on all shapes and sizes of menstrual bodies to evaluate fit and function.

The shift from seeing lingerie and underwear as necessities to fashionable accessories that enhance a toned figure has been a key element fueling the demand for fashionable lingerie. The expanding supply of a wide array of goods in several designs for various uses, including sports, bridal wear, and everyday wear, has also fueled the market expansion. To diversify their product offerings and introduce new, innovative items, the top market players are also developing new brands and engaging in mergers and acquisitions with other businesses.

The increasing participation of women in business sectors, particularly in emerging nations, is highlighted by women's increased economic knowledge and educational awareness. To decrease the gender participation gap in the labor market and enhance female economic empowerment, governments are also urging women to enter the workforce. The growing number of working women has increased consumer disposable income per person, which has affected consumer shopping habits. Additionally, buyers are flocking toward more comfortable and practical lingerie as they become more concerned about their hygiene, appearance, and quality of life. As more women have jobs, lingerie sales have been expanding quickly worldwide. As women's spending power grows, luxury underwear sales are expanding.

The market is driven by the expanding trend of producing lingerie with flexible fabrics. The use of diverse fabrics, such as lace, cotton, nylon, silk, and sheer, can also be credited with the rise in lingerie consumption and demand. Underwear designers concentrate on producing items made of abundant materials, embroidery, lace, and others. As a result, growth is anticipated to be boosted during the projection period. Due to the abovementioned considerations, people are becoming more interested in these products, encouraging designers and producers to offer comparable, stylish lingerie that serves various functions. Therefore, such conditions have enhanced the Lingerie market CAGR in recent years.

Figure 1: US and UK lingerie market Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

However, increasing female purchasing power is another factor driving the growth of the Lingerie market revenue.

Lingerie Market Segment Insights

Lingerie Type Insights

Based on product type, the Lingerie market segmentation includes briefs, bras, and shapewear. The bras segment held the majority share in 2021, contributing to around ~40% of the Lingerie market revenue. By wearing bras, women can prevent several back and spine issues and concerns with their clothing and posture. The availability of fabrics and ongoing technical improvements have allowed designers to produce innovative products while maintaining market leadership.

Lingerie Price Range Insights

The lingerie market segmentation has been bifurcated by price range into economy and premium. The premium segment dominated the market in 2021 and is projected to be the faster-growing segment during the forecast period, 2024-2030. The changing preferences of consumers for apparel products, such as lingerie, are also being accelerated by the growing influence of social media.

Figure 2: Lingerie Market, by Price Range, 2021 & 2030 (USD Billion)Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Lingerie Distribution Channel Insights

Based on distribution channel, the lingerie market data has been segmented into store-based and non-store-based. Non-Store-Based held the largest segment share in 2021. Companies like Myntra, Amazon, Jabong, Nykaa, Shyaway, Ajio, Elitify, Journelle, Aerie, Adore Me, Cosabella, and Thirdlove is collaborating with online merchants and creating their e-portals to reach a wider audience. The multiple advantages consumers receive from online channels are credited with the segment's rise. These advantages or benefits include savings, simple and trouble-free returns, and others.

The fastest-growing segment in the lingerie industry is store-based. Its advantages include the capability of scanning products and the ability to try a product before buying. Additionally, the assistance of a store worker in making the proper product selection influences the consumer's choice, promoting sector growth.

By region, the study provides market insights into North America, Europe, Asia-Pacific and the Rest of the World. The Asia-Pacific Lingerie market accounted for USD 41 billion in 2021 and is expected to exhibit a significant CAGR growth during the study period. The main elements influencing product demand include an increased understanding of ideal fits as usage, changes in working millennials' lifestyles, rising income to invest in the best products available, and an obsession with maintaining a well-groomed appearance.

Further, the major countries studied in the market report are The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 3: LINGERIE MARKET SHARE BY REGION 2021 (%)Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

The North America Lingerie Market is expected to grow at the fastest CAGR from 2024 to 2030. The existence of smart consumers and the high demand for upscale and luxury brands are the two main factors driving the industry. For every shape and size, businesses are emphasizing designs and quality. Moreover, UK Lingerie market held the largest market share, and the Canada Lingerie market was the fastest-growing market in the Asia-Pacific region.

Europe's Lingerie market accounts for the second-largest market share. Important businesses and the robust demand for expensive and exquisite goods propel the industry. For every form and size, businesses are emphasizing design and quality. Further, the Germany Lingerie market held the largest market share, and the UK Lingerie market was the fastest-growing market in the European region.

Lingerie Key Market Players & Competitive Insights

Major industry players are investing a lot of money in R&D to expand their product offerings, which will spur further growth in the lingerie industry. With market development changes like new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are also undertaking various strategic activities to expand their presence. To grow and thrive in an atmosphere where competition is fierce and the market is growing, lingerie companies must offer affordable products.

Manufacturing locally to cut operational costs is one of the manufacturers' main business methods in the lingerie industry to benefit customers and develop the market sector. The lingerie industry has provided some of the most significant benefits in recent years. The lingerie market major player such as Victoria's Secret, Triumph International (India), and others are working on expanding the market demand by investing in research and development activities.

An American lingerie, apparel, and cosmetics business called Victoria's Secret are renowned for its very visible marketing and branding strategies. These begin with a well-known catalog and continue with an annual fashion show featuring supermodels known as Angels. In August 2022, Elomi, a new underwear line by Victoria's Secret & Co. The company plans to provide more than 100 sizes and have creative, colorful, and perfectly sized products. Therefore, it is anticipated that all of the factors above will fuel the lingerie market's expansion.

Also, Triumph International is a producer of undergarments in Switzerland. Along with the Triumph brand, the business also manufactures and sells goods under sloggi and AMO's Style by Triumph. In May 2022, At the 12th Annual Triumph Fashion Show, Triumph International (India), one of the top lingerie manufacturers in the world, showed its 2022 collection for brands "Triumph," "Triaction," and their sister brand "sloggi," the most comfortable innerwear brand in the world..

Key Companies in the Lingerie market includes

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  Yandy LLC (US)

  
  


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  Marks and Spencer plc (UK)

  
  


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  Victoria's Secret (US)

  
  


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  Group Chantelle (France)

  
  


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  MAS Holdings (Sri Lanka)

  
  


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  Jockey International Inc (US)

  
  


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  Fashion Nova Inc. (US)

  
  


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  Hennes & Mauritz AB (Sweden)

  
  


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  LVMH Moët Hennessy Louis Vuitton (France) among others

  
  

Lingerie Industry Developments

November 2022: Adore Me Inc., an intimate brand with a strong web presence, was announced as fully acquired by Victoria's Secret & Co. The acquisition's goal is to broaden the retailer's online and offline customer base for lingerie and beauty products.

May 2022: To improve the shopping experience, MAS Holdings collaborated with ByondXR, a well-known digital retail store platform, to develop virtual showrooms. Through this partnership, MAS can present its newest collections to major international companies in online showrooms.

Lingerie Market Segmentation

Lingerie Type Outlook

• Briefs


• Bras


• Shapewear

Lingerie Price Range Outlook

• Economy


• Premium

Lingerie Distribution Channel Outlook

• Store-Based


• Non-Store-Based

Lingerie Regional Outlook

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  North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


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  Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


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  Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


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  Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America