The global lingerie market, valued at USD 88.32 billion in 2022, is poised for significant growth, with an expected compound annual growth rate (CAGR) of 6.1% from 2023 to 2030. This steady upward trajectory is driven by a combination of evolving consumer preferences, increased spending power, and innovations in design and fabric. Here’s a detailed look at the factors shaping this market's future:
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Detailed Segmentation:
Product Type Insights:
- Briefs dominated the global lingerie market, accounting for over 55.0% of the total revenue in 2022. This segment's strong market position is attributed to the comfort and versatility of briefs. Made from comfortable fabrics like cotton and nylon, briefs come in a variety of styles, such as hipster, shorts, and full briefs, which cater to different consumer preferences. Their universal appeal, due to their practicality and ease of wear, makes them a popular choice among a broad spectrum of consumers.
While e-commerce is gaining traction, particularly for those seeking privacy and convenience, offline stores remain the preferred shopping method for many.
Regional Insights:
Moreover, the Asia Pacific region is expected to grow at the fastest rate over the forecast period, driven by changing social dynamics, the growing influence of global fashion trends, and an increasing focus on personal well-being and fashion.
Key Companies & Market Share Insights
Key players in the market are adopting various strategies to attract more consumers to the brand and taking steps to increase the global footprint. These strategies include mergers and acquisitions, partnerships, alliances, the launch of new products, global expansion, and others. For instance, the announcement regarding the launch of three retail stores in India was made by Victoria's Secret. In addition, in October 2021, the announcement pertaining to the launch of the brand's first e-commerce store for the lingerie collection was made by ZARA. Some of the initiatives taken are:
- In June 2023, Victoria’s Secret and Amazon Fashion collaborated to improve the shopping experience for customers. The collaboration will include over 4,000 fashion items from Victoria's Secret and PINK, including panties, bras, swimwear, loungewear, and sleepwear. Particular bra and apparel styles will also be available on Amazon Prime’s Try Before You Buy program.
- In February 2023, HanesBrands Inc. launched the Hanes Originals collection, which encompasses a range of innerwear for women, men, girls, and boys, including bras, underwear, T-shirts, and tanks. The collection is a fusion of vibrant patterns and colors and innovative fabrics. It includes men's boxer briefs and trunks in youthful prints, modern fits, and lower rise, as well as women’s bra-tops, bralettes, boyshorts, bikinis, and thongs in seasonal prints and a soft cotton blend.
Key Players:
Some prominent players in the global lingerie market include:
- Jockey International Inc.
- Victoria’s Secret
- Zivame
- Gap, Inc.
- Hanesbrands Inc.
- Triumph International Ltd.
- Hunkemoller
- Bare Necessities
- Calvin Klein
- MAS Holdings
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