The global lingerie market overview appears very promising, with continually growing market shares. Major factors that are influencing the market growth are increasing awareness about the product and rising popularity of various lingerie brands offering unique varieties through social media platforms. Furthermore, companies expanding their global footprints in the emerging markets are accelerating market growth.
According to Market Research Future (MRFR), the global Lingerie Market Report is projected to reach a valuation of USD 51.23 BN by 2025. In its recently published lingerie market research, MRFR asserts that the market would grow at 4.5% CAGR over the forecast period (2019 – 2025). The augmenting market sales are majorly driven by the steady growth in the global economy.
Additionally, advances in product development led by improvements in technologies are considered as major growth drivers for market growth. Besides, changing fashion trends and the growing influence of social media are boosting the growth of the Lingerie market. Lingerie accounted for around 20% share in the global women’s apparel market in 2018.
Demands for lingerie that can provide functionality as well as comfort are the major intimate apparel industry trends 2020. Simultaneously, increasing per capita income in developing countries such as China, India, and Brazil has led to raising the spending power for women; this, as a result, is anticipated to push the growth of the market. Furthermore, the growth of organized retail sectors drives the market growth.
This trend is likely to continue in the future, which would foster the growth of the global lingerie market. Also, the rapid growth of social media platforms over the last few years has positively impacted market growth, offering market players the opportunity to advertise their products online. Other factors that foster market growth include the growing number presence of genuine manufacturers and rapid urbanization.
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Global Lingerie Market – Segmentation
The report is segmented into four main dynamics to widen the scope of understanding,
By Product Type : Bras, Knickers and Panties, Shape Wear, Lounge Wear, and others.
By Price Range : Economy and Premium
By Distribution Channel : Store-based (Hypermarkets & Supermarkets, Specialty Stores, others) and Non-Store-based.
By Regions : Americas, Europe, Asia-Pacific, Middle East & Africa, and Rest-of-the-World.
Global Lingerie Market – Regional Analysis
Europe is a significantly growing market, which held the largest lingerie market share in 2018. Continuous innovation in product ranges is a major factor driving the growth of the regional market. Prominent presence of many popular lingerie brands focusing on product developments with different fabrics and advanced manufacturing processes acts as a major driving force for the growth of the regional market.
Attributing to the booming retail industry, brick & mortar, and online stores, especially in countries like the Netherlands, UK, and Germany, the European lingerie market would register a phenomenal CAGR in the next six years.
North America stands second in the global lingerie market, growing lucratively. Continual product launches and innovations in style led by the high demand for varieties of lingerie are projected to drive a larger lingerie market size during the forecast period. Besides, celebrity endorsements act as a key driving force for the growth of the regional market. Additionally, the development of distribution channels in the regions fosters the growth of the Lingerie market in North America.
Countries such as the US, UK, and Canada, account for the leading markets in their respective regions, due to the high penetration of the eCommerce sector. Moreover, the presence of the most significant international retail chains such as Walmart and Amazon in the US and ASDA in the UK defines the regional market growth.
The Asia Pacific Lingerie market is emerging as the fastest-growing market globally. The region is expected to create substantial revenue pockets due to the increasing working women population in developing countries. The growth of the women’s apparel industry and increasing consumer awareness drive huge market demand in the region. The market is expected to account for an augmented growth during the review period. Growth in online platforms and retail businesses in the region are some of the other factors propelling the regional market growth.
Global Lingerie Market – Competitive Analysis
Highly competitive, the Lingerie market appears to be fragmented due to the presence of many well-established brands. These players try to gain a larger competitive advantage in this market through strategic initiatives such as mergers & acquisitions, collaboration, expansion, and product launch. Lingerie manufacturers make heavy investments in R&D to develop a completely different technology compared to their competition.
Players leading the Lingerie market include Marks & Spencer Group plc (UK), Yandy LLC (US), Victoria’s Secret (US), MAS Holdings (Sri Lanka), Groupe Chantelle (France), Fashion Nova, Inc. (US), Jockey International, Inc. (US), Hennes & Mauritz AB (Sweden), Hunkemöller International BV (Netherlands), LVMH Moët Hennessy – Louis Vuitton SE (France), Triumph International (Switzerland), La Senza Corporation (US), Calvin Klein Inc. (US), Bluebella Ltd (UK), and Parfait Lingerie (US), among others.
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January 02, 2020 —- A leading lingerie brand, Savage X Fenty, launched its new attractive Valentine’s Day collection, ever. The product line is designed in collaboration with a famous fashion designer, Adam Selman. The Xclusive collection includes 19-pieces highlighting Selman’s eye for color and exciting cuts plus by Rihanna’s knowledge about what women really want from their lingerie.
Savage X Fenty celebrates fearlessness, confidence, and inclusivity, partnering with a team assembled from the industry’s elite experts. The label has disrupted and redefined the market space with its accessible price point and an extensive assortment of lingerie. This is Savage x Fenty’s very first designer collaboration, where Selman and Rihanna have created two separate holiday-themed assortments – Down the Aisle and Locket Down.
Note : Our team of researchers are studying Covid-19 and its impact on various industry verticals and wherever required will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.
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