The global lingerie market was valued at US$ 46.55 Bn in 2020
It is estimated to expand at a CAGR of 8.5% from 2021 to 2031
The global lingerie market is expected to cross the value of US$ 93.1 Bn by the end of 2031
Lingerie Market: Overview
According to Transparency Market Research’s latest research report on the global lingerie market for the historical period 2017, 2018, and 2019, and forecast period 2021–2031, the lingerie market is categorized on the basis of product type, material, end-user, price category, distribution channel, and region. The lingerie market has shown significant growth in recent years, owing to the fact that it is considered an essential requirement for every women across the globe and is considered as an important fashion accessory.
Lingerie products enable end users to choose from various product categories such as bras, knickers & panties, lounge wear, shape wear, swimwear, and sportswear
Women have an emotional connect with different brands of lingerie they choose apart from the obvious functional benefits that lingerie provides. Consumers earlier did not have variations in choice regarding the purchase of lingerie. Rising sophistication among women coupled with means & resources and growing population of working women enabled them to compare different brand attributes of lingerie, thus leading to different choices of purchases.
Manufacturers are seen engaged in continuous research and development, ensuring customers’ exact needs are met
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Changing Attitude of Women toward Innerwear and Expansion of Online Retailing Boosting Lingerie Market
Internet retailing has been witnessing robust growth in the lingerie segment for the past few years. The online retail industry offers a wide variety of buying options to its customers. Furthermore, customers have increasingly become confident in terms of use of online payment options due to advancements in online payment security options.
Bargain options made available by various online retail websites also attract customers. The widening range of Internet retailing websites has further boosted the sale of lingerie and other products. Major players in the e-commerce sector are progressively offering far more lucrative deals to shoppers in order to make their presence felt.
Production of lingerie globally, women’s attitude toward spending on lingerie, and selection of specific lingerie for specific occasions have increased exponentially during the past two to three decades. Rising disposable income has further spurred the demand for lingerie across the globe.
Economic growth in developing economies has led to rise in disposable income of consumers. This has helped increase consumer confidence in terms of buying and investing in high quality lingerie in the market.
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