(MENAFN- IMARC Group)
IMARC Group's latest report, titled“ Lingerie market : Global industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032 ”, The global lingerie market size reached US$ 84.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 149.9 Billion by 2032, exhibiting a growth rate (CAGR) of 6.42% during 2024-2032.
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Factors Affecting the Growth of the Lingerie Industry:
Changing Fashion Trends and Consumer Preferences :
The lingerie industry has been profoundly influenced by evolving fashion trends and shifting consumer preferences. Traditionally, lingerie was viewed primarily as a functional garment, but this perception has shifted dramatically. Presently, lingerie is considered an essential part of fashion and self-expression. Consumers are increasingly seeking styles that are not just comfortable but also fashionable and empowering. This trend is driven by the growing influence of social media, where influencers and celebrities showcase diverse lingerie styles, thus shaping public perception and demand. Additionally, there's a rising demand for inclusive sizing and styles that cater to a broader range of body types and skin tones.
Continual Technological Advancements:
Advances in materials and manufacturing techniques have enabled the production of more comfortable, durable, and varied lingerie designs. The development of new fabrics such as microfiber, lace with elastane, and moisture-wicking materials has enhanced the comfort and functionality of lingerie products. These technological improvements cater to the modern consumer's demand for lingerie that is not only aesthetically pleasing but also practical for everyday wear. Additionally, the rise of e-commerce platforms and online shopping has revolutionized the lingerie retail landscape. With the advent of virtual fitting rooms, augmented reality (AR), and AI-powered size recommendation tools, online lingerie shopping has become more convenient and personalized.
The expansion of the global economy has been a significant driver of the lingerie market's growth. As economies around the world grow, so does the disposable income of consumers, which in turn increases spending on non-essential items, such as lingerie. This economic growth has led to a rise in the middle-class population, especially in emerging markets, who are now able to spend more on luxury and premium products. The economic empowerment of women is a crucial aspect of this growth. With more women entering the workforce and gaining financial independence, there is an increased demand for a variety of lingerie products, ranging from practical, everyday wear to more luxurious, high-end pieces. Women are now more empowered to make purchasing decisions and invest in high-quality lingerie that meets their personal preferences and needs.
Competitive Landscape with Key Players:
Fashion Nova LLC Hanesbrands Inc H & M Hennes & Mauritz AB Hunkemöller International B.V Jockey International Inc MAS Holdings PVH Corp The Gap Inc The Groupe Chantelle Triumph International Ltd Victoria's Secret & Co Yandy Enterprises LLC
Lingerie Market Trends:
Social and cultural shifts have had a profound impact on the lingerie market. There has been a significant move towards body positivity and self-acceptance, which has influenced consumer attitudes towards lingerie. This cultural shift has encouraged the celebration of diverse body types, leading to increased demand for inclusive sizing and styles that cater to a wide range of body shapes and sizes. Brands that champion inclusivity and diversity in their product lines and marketing campaigns have gained popularity and customer loyalty. The conversation around women's empowerment and gender norms has also changed the lingerie landscape. Lingerie is increasingly seen as a tool for self-expression and empowerment, rather than solely for the gaze of others.
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Lingerie Market Report Segmentation:
Breakup by Product Type:
Brassiere Knickers or Panties Shapewear Others
Brassieres represented the largest segment by product type in the lingerie market, due to their fundamental role in women's daily wear and the diverse options available catering to different sizes, styles, and comfort needs.
Breakup by Material:
Cotton Silk Satin Nylon Others
Cotton emerged as the largest segment by material in the lingerie market, due to its breathability, comfort, and hypoallergenic properties, making it a preferred choice for everyday wear.
Breakup by Price Range:
The economy price range constituted the largest segment by price in the lingerie market, reflecting the broad consumer preference for affordable, quality lingerie options that offer value for money.
Breakup by Distribution Channel:
Mass Merchandizers Specialized Stores Online Stores Others
Mass merchandisers were the largest segment by distribution channel, attributed to their wide accessibility, variety of choices, and competitive pricing strategies that appeal to a broad customer base.
Breakup by Region:
North America (United States, Canada) Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others) Europe (Germany, France, United Kingdom, Italy, Spain, Others) Latin America (Brazil, Mexico, Others) Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Asia Pacific was the largest market by region in the lingerie industry, driven by increasing disposable income, growing fashion consciousness, and the expanding retail landscape in this region.
Key Highlights of the Report:
Market Performance (2018-2023) Market Outlook (2024-2032) Porter's Five Forces Analysis Market Drivers and Success Factors SWOT Analysis Value Chain Comprehensive Mapping of the Competitive Landscape
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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