Lingerie Market Globally Reach USD 59.15 billion by end of 2024
Sarasota, FL -- (SBWIRE) -- 12/11/2018 -- Zion Market Research has published a new report titled "Lingerie Market by Product (Bra, Knickers and Panties, Loungewear, Shapewear, and Others) and by Distribution Channel (Online Sales and Storefront): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017 - 2024". According to the report, global lingerie market was valued at approximately USD 38.19 billion in 2017 and is expected to generate a revenue of around USD 59.15 billion by end of 2024, growing at a CAGR of around 6.45% between 2018 and 2024.
The outerwear of women has undergone a dramatic change and due to this women prefer selecting innerwear, especially bras that can match with their attire. Females in the developing countries are experiencing latest trends towards carrying themselves in public. They are changing their outlook towards accepting innerwear as a casual affair and take time to choose and make a purchase. They try to purchase lingerie depending on the occasion or event, such as there are special sport wear bras for gymnasium purpose. Most of the large brands have exclusive stores in shopping malls or independent stores. In developing countries like India and China, brands like Jockey are trying to reach out to customers through small roadside innerwear shops.
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It can be demonstrated by the product differentiation brought by the lingerie manufacturers over online and retail stores which is a key factor complementing the growth of the global lingerie market. Increasing demand from youth women population, increasing adoption of western culture & lifestyle, and growing number of working women are aiding the lingerie market. Also, increasing expenditure on personal appearance and changing fashion trends in lingerie market are some of the other factors expected to propel the demand for lingerie.
The lingerie market is segmented on the basis of product type into the bra, knickers and panties, loungewear, shapewear, and others. Bra segment holds the biggest share in the global market due to its indispensable usage. The knickers and panties segment is expected to make a significant contribution to the overall market as these are considered essential items of an attire. Also, in recent years, the development of technology to manufacture various types of bra and knickers has also increased. Adoption of the newly designed bras for cosmetic purpose is boosting the growth of lingerie market.
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Online sales and storefronts are the major distribution channels of the global lingerie market. Online stores are gaining importance due to penetration of internet that provides a strong platform to the customers to make easy purchases. Furthermore, due to rapid penetration of premium range of smartphones among the young population is expected to drive the e-commerce segment thereby promoting online retail sales for lingerie market.
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa are key regional segments of global lingerie market. Bras account for maximum share in the lingerie market. Europe and North America together have a combined percentage share of almost 65%. Bras account for maximum share in the lingerie market. Online lingerie store retailers are compelled to offer attractive discounts and offer due to the rising competition in the market. This is attracting middle-class consumers who are looking for occasional discounts. Several established vendors such as Victoria's Secret and Playboy are present in North America. They also offer products with proper fit, comfort, style, discounts, offers, subscriptions, and free shipping charges thus propelling the overall market in North America and Europe.
The report also includes detailed profiles of end players such as Jockey International Inc., Wisconsin, Hanes, Groupe Chantelle, LVMH, L Brands Inc., MAS Holdings Limited, Ann Summers, Marks and Spencer, and PVH Corporation, among others.
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This report segments the global lingerie market as follows:
Global Lingerie Market: Product Segment Analysis
Knickers and Panties
Global Lingerie Market: Distribution Channel Segment Analysis
Global Lingerie Market: Regional Segment Analysis
The Middle East and Africa
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