Portland, OR -- (SBWIRE) -- 06/23/2017 -- Intimate Wear Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $250 billion by 2022, registering a CAGR of 7.2% during the forecast period 2016 - 2022. In 2015, Asia-Pacific was leading the intimate wear market, followed by North America. Growth in the region is supplemented by increase in national per capita disposable income and growing fashion consciousness among young generation.
Changing lifestyle, rising awareness regarding hygiene, changing demographic dividend, and customization of product portfolios have boosted the intimate wear market. However, prevalence of dermatological conditions among intimate apparel wearers may limit the growth of this market. Up gradation in fabric of intimate wear offers promising opportunities for market players.
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The world intimate wear market is segmented based on gender, age group, price, distribution channels, and geography. Intimate wear are designed for women as well as men. Women dominated the intimate wear market in 2015, accounting for around 59% of the overall market revenue owing to womens aspiration to stay in line with fashion trends and habit of spending more on intimate wear as compared to men. Intimate wear for men is expected to be faster growing segment during the forecast period.
Age groups consisting of buyers from different ages such as 1317 years, 1835 years, and 36 years & above. In 2015, men and women of the age 36 years & above generated more than half of the overall market revenue, owing to the large population base of this group coupled with their relatively higher spending capacity.
Intimate wear are priced as luxury, super-premium, premium, medium priced, economy, and low priced. Medium priced intimate wear accounts for the major share of the overall market revenue as a large chunk of the global population lies within the medium income group. Luxury intimate wear is estimated to grow at highest CAGR 9.0% during the forecast period.
Intimate apparel are sold through different channels such as mass merchandizers, mono brand stores, specialized stores, and others. In 2015, across all regions, mass merchandizers comprising hypermarket and supermarkets, accounted for around half of the overall sale of intimate wear and is projected to lead the market during the forecast period. Others segment, which includes street stores, variety stores, and online channel is anticipated to be the fastest growing channel, with an estimated CAGR of 8.4%. The growth of the segment would be driven by factors such as high internet penetration, tech-savvy consumers, and growing ecommerce market.
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Asia-Pacific generated the largest revenue in 2015 and would continue to be the major revenue generating region throughout the forecast period. In the same year, North America and Europe collectively generated around 55% of the overall intimate wear market revenue.
Intimate Wear Market Key Findings
- Asia-Pacific was the highest revenue-generating region in 2015
- Women would continue to be the major revenue generating segment throughout the forecast period
- Mass merchandizers would continue to be the major revenue generating distribution channel throughout the forecast period
- Buyers of 36 years and above occupied prominent share of the overall market revenue and would continue to remain the major revenue generators throughout the analysis period
Key players profiled in this report are L Brand Inc., Berkshire Hathaway Inc., American Eagle Outfitters (Aerie), Hanes Brands Inc., Jockey International Inc., MAS Holdings, Triumph International Ltd., Hanky Panky Ltd., PVH Corporation, and Chantelle Group.
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