Lingerie Market: Projected Growth and Key Insights
The global lingerie market was valued at USD 47.1 billion in 2023 and is projected to reach USD 74.1 billion by 2030, growing at a compound annual growth rate (CAGR) of 6.3%. The market growth is being driven by a combination of factors, including increased demand for innovative designs, enhanced comfort, and a shift toward sustainability within the industry. Key trends, such as the rise of inclusive sizing, technological advancements, and the growing influence of e-commerce, are contributing to the strong market performance.
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Regional Developments: Key Insights Across Global Markets
Vietnam and Thailand
In Southeast Asia, countries like Vietnam and Thailand are experiencing an increase in demand for lingerie, particularly in the urban areas where disposable income is rising. Growing middle-class populations are looking for high-quality and fashionable lingerie, making these markets key areas for expansion.
- Key Development: Vietnam’s lingerie market is seeing a rise in local brands that emphasize comfort and affordability, while Thailand is focusing on both local and international lingerie brands that cater to the luxury segment.
Singapore
Singapore is witnessing a growing trend in premium lingerie and is becoming a hub for global lingerie brands. The city-state is known for its sophisticated consumer base, and demand for high-end and sustainable lingerie products is on the rise.
- Key Development: Singapore is also a hotspot for the e-commerce-driven lingerie market, where consumers are increasingly purchasing high-quality and innovative lingerie online, driving growth in the region.
Japan and South Korea
In East Asia, Japan and South Korea are leading the market in terms of both fashion and technology in lingerie. These countries emphasize a blend of design and functionality, focusing on unique products such as smart lingerie and seamless designs.
- Key Development: Japan is witnessing growing demand for innovative, comfortable lingerie with breathable fabrics, while South Korea’s focus on personal style and fashion is increasing demand for chic lingerie products.
Europe
Europe is a key region for the lingerie market, with countries like France, Italy, and the UK being at the forefront of both luxury and functional lingerie. The European market is highly influenced by fashion trends, sustainability, and a strong shift toward inclusivity.
- Key Development: In Europe, there is a significant push towards sustainable lingerie, with many companies focusing on eco-friendly materials and ethical production processes to meet growing consumer demands for responsible fashion.
United States
The U.S. is the largest market for lingerie, with a diverse consumer base and a high demand for both mainstream and luxury lingerie products. The market is highly competitive, with several domestic and international brands driving growth.
- Key Development: In the U.S., there has been a surge in demand for inclusive sizing and body-positive lingerie, with brands focusing on diversity in advertising and product offerings to cater to a wider range of body types.
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Mergers and Acquisitions: Shaping the Lingerie Market
The lingerie market is becoming increasingly consolidated through strategic mergers and acquisitions, allowing companies to expand their product portfolios and enter new markets. Some notable developments include:
- L Brands and Victoria’s Secret Acquisition: L Brands has successfully spun off Victoria’s Secret into an independent company, focusing on reinvigorating the brand with a stronger emphasis on inclusivity, body positivity, and product innovation.
- ThirdLove and Playtex: ThirdLove, a leader in the direct-to-consumer lingerie market, acquired Playtex, an iconic lingerie brand, to expand its product range and reach more traditional retail consumers. This acquisition aims to combine the best of innovative sizing and classic designs.
- Hanesbrands and Maidenform: Hanesbrands, a giant in the global lingerie market, acquired Maidenform to bolster its product offerings in the premium segment, combining Maidenform’s legacy with Hanesbrands’ technological advancements in fabrics and comfort.
- LVMH and Fenty: LVMH’s acquisition of Fenty, the lingerie brand by Rihanna, has redefined luxury lingerie and broadened its appeal, offering a bold blend of fashion, inclusivity, and innovation.
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Key Players Driving Innovation
Several global lingerie brands are leading the market by driving innovation, expanding their product offerings, and adopting sustainable practices. Key players include:
- Victoria’s Secret: Despite facing some challenges, Victoria’s Secret remains one of the top players in the global lingerie market. The brand has refocused its efforts on inclusivity, body positivity, and product comfort to attract a broader consumer base.
- Hanesbrands: With a strong presence in both the mainstream and premium lingerie markets, Hanesbrands is known for its innovative approaches in design and fabric technology, offering comfort-focused lingerie solutions.
- Calvin Klein: Calvin Klein is a dominant player in the premium lingerie sector, known for its minimalist designs, high-quality materials, and successful branding campaigns that emphasize comfort and luxury.
- Aerie (American Eagle): Aerie has gained massive popularity for its inclusive sizing and body-positive marketing. The brand’s success lies in its commitment to promoting real beauty standards and creating a diverse product range for all body types.
- Savage X Fenty: Rihanna’s Savage X Fenty brand has disrupted the lingerie industry with its bold designs and commitment to inclusivity. The brand’s e-commerce-driven model, along with its focus on diverse sizing, has revolutionized how lingerie is marketed to consumers.
Market Trends: Key Innovations and Consumer Preferences
Sustainability and Eco-friendly Lingerie
Sustainability is a growing trend within the lingerie industry, with many brands shifting to eco-friendly materials such as organic cotton, recycled fabrics, and biodegradable lace. Consumers are increasingly looking for ethical brands that prioritize environmental impact.
Inclusive Sizing
The demand for inclusive sizing has surged, with more brands offering a broader range of sizes to cater to women of all body types. Brands are moving away from traditional sizing models and embracing diversity in their product offerings and marketing campaigns.
Smart Lingerie
Innovation in lingerie extends to wearable technology, with several companies experimenting with smart lingerie that can monitor health parameters, provide temperature regulation, or even enhance comfort through technology-integrated fabrics.
E-Commerce Growth
E-commerce continues to drive growth in the lingerie market, with consumers preferring the convenience of online shopping. Direct-to-consumer models are gaining popularity, and brands are investing in virtual try-ons and personalized online shopping experiences.
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Lingerie Market Segment Analysis:
by Product
Bra
Knickers and Panties
Loungewear
Shapewear
Other
by Material
Cotton
Satin/Synthetic Silk
Woollen
Polyester
Velvet
Others
by Price
Low
Medium
High
by Distribution Channel
Offline
Supermarket/Hypermarket
Specialty Stores
Multi Brands Stores
Online
E-commerce
Company-owned Website
Lingerie Market Key Players are:
1. Hanes brands Inc (US)
2. Fruit of the Loom (US)
3. Jockey International (US)
4. Lise Charmel (US)
5. Venies (US)
6. Victoria’s Secret (US)
7. Gap, Inc. (US)
8. Bare Nessities (US)
9. Calvin Klein (US)
10. Triumph International (Germany)
11. Nubian Skin (UK)
12. Calida (Switzerland)
13. Hunkemoller (Netherlands)
14. Wacoal Holdings (Japan)
15. Uniqlo Co., Ltd. (Japan)
16. Aimer Group (China)
17. Mani Form (China)
18. Embry Form (China)
19. Ordifen (China)
20. Oleno International Company Ltd. (China)
21. Cosmo-lady (China)
22. Essentie (HongKong)
23. Hoplun Group (Hong Kong)
24. Hop Lun Limited (Hong Kong)
25. MAS Holdings (Shri Lanka)
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