Sales revenue from men’s underwear and women’s lingerie items is expected to grow in the U.S. over the next couple of years owing to factors such as higher importance to personal hygiene, increasing disposable income, evolving lifestyle, improved standard of living, and changing preferences of consumers.
New York, NY -- (SBWIRE) -- 09/11/2017 -- Most manufacturers are opting to outsource production in order gain economies of scale, moreover, labour cost and cost of raw materials are relatively higher in the U.S. as compared to developing countries. Hence, low-cost bulk production enabling leading brands to sell underwear at competitive prices.
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A study conducted by Persistence Market Research (PMR) reveals that the men's underwear and the women's lingerie market in the U.S. is expected to ride on CAGR of 5.5% and 5.7% in terms of value between 2016 and 2024. In addition, propagation of modern retail formats such as pharmacy stores, discount stores and supermarkets is leading towards higher product visibility.
In 2015, the boxer brief segment accounted for over 30% share, reaching a market valuation of US$ 975.8 Million and is likely to expand at a CAGR of 6.1% during the assessment period. In the women's Lingerie section, brassieres are expected to be the fastest growing segment over 2024.
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On the basis of Size, demand for XXXL size is expected to gain maximum traction under men's underwear section. This is primarily attributed to growing prevalence of obesity in the U.S.
he online store segment of men's underwear and women's lingerie market is projected to command for nearly 19% share by 2024, reflecting a robust CAGR over the assessment period. In addition, online stores are anticipated to emerge as the second largest distribution channel segment by the end of forecast period.
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In 2014, The U.S. men's underwear market was majorly controlled by top 5 players in the organized market accounting for a staggering 85% share. Key stakeholder in the US men's underwear and women's lingerie market includes Jockey International, American Eagle Outfitters Inc. Victoria's Secret, Fruit of the Loom, Commando LLC, Hanes brand Inc., Ralph Lauren Corporation, Calvin Klein, Hanky Panky, Cass and Company and Philips Van Heusen Corporation.
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