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Empowering Women: Global lingerie market sees significant growth as demand for body-inclusive and sustainable products surges with 6.39% CAGR by 2023-28. – Actual Market Research
Mar, 31
2023

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Empowering Women: Global lingerie market sees significant growth as demand for body-inclusive and sustainable products surges with 6.39% CAGR by 2023-28. – Actual Market Research

 

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The lingerie market is a global industry that encompasses a wide range of intimate apparel products, including bras, pants, shapewear, and sleepwear. Lingerie products are typically designed to provide comfort, support, and style to consumers and are often considered an important part of women's fashion. The lingerie market is highly competitive, with a large number of brands and retailers competing for market share. In recent years, there has been a growing trend towards more inclusive sizing and diverse product offerings as companies seek to appeal to a wider range of consumers. The global lingerie market is also increasingly focused on sustainability, with many companies implementing eco-friendly practises and materials in their products and production processes. As consumer preferences and market trends continue to evolve, the lingerie market is likely to remain an important and dynamic industry, shaping fashion and intimate apparel trends around the world. In addition, another trend that is shaping the global lingerie market is the increasing focus on sustainability. As consumers become more environmentally conscious, many lingerie companies are implementing eco-friendly practises and materials in their production processes. This includes the use of recycled materials, organic cotton, and other sustainable materials, as well as the adoption of more eco-friendly production processes. In addition, some companies are also incorporating social responsibility initiatives into their business models, such as ethical labour practises and charitable donations.

According to the research report, “Global Lingerie Wear Market Research Report, 2028” published by Actual Market Research, the market is anticipated to reach market size of USD 113.53 Billion, increasing from USD 78.81Billion in 2022.The market is projected to grow with 6.39% CAGR for 2023-28. Smart lingerie is a new trend that incorporates technology into the design of lingerie products. Smart lingerie products can include sensors, temperature control, and even fitness tracking features. This technology can provide consumers with data and insights into their body's activity and well-being. The use of smart lingerie products has the potential to revolutionize the industry, as it offers consumers new levels of customization and personalized care. Furthermore, the use of 3D printing technology in the lingerie market has gained popularity in recent years. 3D printing enables companies to create customized lingerie products that are tailored to a customer's unique body shape and size. This technology also allows for rapid prototyping, which can reduce the time it takes to bring new products to market. Moreover, augmented reality is another trend that has emerged in the lingerie market. This technology allows consumers to visualize how lingerie products would look on their bodies before making a purchase. With AR, customers can try on virtual lingerie products and see how they fit and look from different angles, which can improve the overall shopping experience and increase customer satisfaction. Furthermore, Bridal lingerie is a popular trend in the lingerie market, with many companies offering specialized collections for brides. These collections often include lingerie sets designed for weddings, as well as honeymoon lingerie and other romantic pieces.

The market is segmented by product type, such as knickers or panties, brasseries, shapewear and others. Knickers or panties are a popular product category in the global lingerie market, accounting for the majority of market share in 2022. Knickers or panties are an essential item of daily wear for most women and thus have a consistent demand. There are two price ranges in the global lingerie market: economy and premium. The most market share is expected to be held by low-cost lingerie. Customers have a wide range of options in the economy-priced lingerie segment, with various styles, colours, and designs available. While the premium-priced lingerie segment is expected to grow, it is likely to have a smaller market share than the economy-priced lingerie segment and to grow at a slower rate than the economy-priced lingerie segment. Satin, cotton, silk, nylon, and other materials are used in the global lingerie market. Among these materials, satin has the largest market share in the region. Customers prefer satin lingerie because of its smooth and silky texture, which provides a comfortable and luxurious feel. Satin is also known for its ability to drape beautifully, which improves the appearance of lingerie. Nylon has grown significantly in the region as a result of increased demand for nylon lingerie in the Middle East and Africa, which is being driven by a variety of factors such as changing fashion trends, rising disposable income, and the growing popularity of e-commerce platforms.

The distribution channels in the global lingerie market include specialty stores, online stores, hypermarkets, supermarkets, and others. Among these, specialty stores have the largest market share in the region. Specialty stores provide customers with a personalised shopping experience where they can receive expert advice and assistance in selecting lingerie products that fit their specific needs and preferences. Some of the popular specialty stores for lingerie in the Global are Victoria's Secret, La Perla, Agent Provocateur, Aerie, Calvin Klein, Huskem?ller, Triumph International, Etam, Soma, and Oysho. Online stores have seen significant growth in the South American lingerie market during the forecast period. Some popular online sites for lingerie in the global market include Victoria's Secret, Adore Me, Figleaves, Bare Necessities, Agent Provocateur, La Perla, Boux Avenue, Yandy, Journelle, Brayola, and many more.

The extent of government regulation in the global lingerie market differs by country and region. Some governments have strict regulations in place to ensure that lingerie products are safe for consumers and meet certain quality standards, while others have more relaxed regulations. Lingerie products must comply with safety standards related to the use of materials, product design, and manufacturing processes. For example, in the United States, the Consumer Product Safety Commission (CPSC) has established regulations that require flammability testing for certain types of textile products, including children's sleepwear and robes. Furthermore, lingerie products must also comply with labelling regulations related to product content, country of origin, and care instructions. For example, in the European Union, textile products must be labelled with a "CE" marking to indicate compliance with health, safety, and environmental protection standards. Moreover, companies that advertise lingerie products must comply with regulations related to truthful and accurate advertising. For example, in the United States, the Federal Trade Commission (FTC) has established guidelines that require advertisers to have a reasonable basis for any claims they make about their products.

Celebrity endorsements can have a significant impact on the global lingerie market. When a celebrity endorses a particular lingerie brand or product, it can increase brand recognition, credibility, and desirability among consumers. Additionally, consumers may be more likely to purchase lingerie products endorsed by their favourite celebrities or influencers, leading to increased sales and revenue for the brand. Some of the celebrities who have endorsed lingerie brands include Rihanna, The pop star has her own lingerie line called Savage X Fenty, which has gained popularity for its inclusive size range and diverse representation in advertising campaigns. Furthermore, Victoria Beckham is the former Spice Girl and fashion designer has endorsed lingerie brands such as Emporio Armani and La Perla. Moreover, Kendall Jenner is the model has endorsed lingerie brand Calvin Klein and also walked in the Victoria's Secret Fashion Show. In addition, Kate Upton is the model who has endorsed lingerie brand Yamamay and appeared in their advertising campaigns.

Technological advancements in the lingerie industry have led to the development of innovative products that offer enhanced comfort, functionality, and convenience to consumers. For instance, Smart Bras Several companies have developed bras that use sensors to track the wearer's heart rate, breathing patterns, and activity levels. This information can be synced to a mobile app, allowing consumers to monitor their health and fitness goals. Furthermore, temperature-regulating underwear some companies have developed underwear that uses advanced fabrics and technology to regulate the wearer's body temperature. This can help keep consumers comfortable in varying weather conditions and during physical activity. Moreover, anti-bacterial and odor-resistant lingerie brands have started incorporating anti-bacterial and odor-resistant technology into their products to keep consumers feeling fresh and clean all day long. In addition, wireless charging lingerie some companies have developed bras and underwear that feature wireless charging capabilities, allowing wearers to charge their mobile devices on the go.

Start-ups:
• ThirdLove is a US-based lingerie company that offers a wide range of sizes and styles for women. The company uses a proprietary fit algorithm to match customers with the right size and style of bra for their body type.
• Lively is another US-based lingerie start-up that offers a range of comfortable and stylish bras, underwear, and loungewear. The company focuses on inclusivity and body positivity, offering sizes from 32A to 44DD and XS to 3X.
• Adore me is a US-based lingerie company that operates on a subscription model, offering personalized lingerie recommendations and deliveries to customers each month. The company offers a range of styles and sizes, from petite to plus size.
• Heist Studios is a UK-based lingerie start-up that specializes in tights and hosiery. The company uses innovative materials and technology to create tights that fit better, feels better, and last longer than traditional hosiery products.

Covid-19 Impacts:
The COVID-19 pandemic has had a significant impact on the lingerie wear market, with both positive and negative effects on the industry. On the negative side, the pandemic has resulted in a decrease in overall consumer spending, as many people have faced financial uncertainty and job losses. This has led to a decline in demand for non-essential items such as lingerie, as people have focused on purchasing essential goods and services. Additionally, the closure of physical retail stores and the reduction in foot traffic due to lockdowns and social distancing measures has led to a decrease in sales for many lingerie brands and retailers. This has resulted in significant revenue losses for businesses, particularly those that rely heavily on brick-and-mortar retail sales. However, on the positive side, the pandemic has also led to an increase in online shopping and e-commerce sales. With people spending more time at home, there has been a shift towards online shopping, including for lingerie wear. Many lingerie brands and retailers have adapted by improving their online presence and investing in digital marketing, which has helped to offset some of the losses from physical retail sales.