Global Lingerie Market Grows Steadily at a CAGR of 4.60%

Lingerie is the clothing worn the closest to a woman's body, between her clothes and skin. One of the feelings that lingerie is connected to is intimacy. The primary goal of lingerie is to maintain hygiene. In addition, underwear protects garments from bodily secretions and shields the body from less pleasant gear. Lingerie producers frequently utilize cotton, a delicate, lightweight, and hygienic fiber. The precursor to current sanitary towels, the first piece of linen to touch a woman's body, was used to collect menstrual blood. Market Dynamics Rising Number of Working Women Drives the Global Market Economic development and increased awareness of women's educational needs draw attention to the significant proportion of women working in commercial sectors, particularly in developing nations. Governments also work to strengthen female economic empowerment, increase female employment, and close the gender participation gap in the labor force. The growing proportion of working women has increased disposable income for each consumer, changing their purchasing patterns. Customers also choose comfortable and practical lingerie as they become more concerned about their hygiene, attractiveness, and quality of life. As more women enter the workforce, lingerie sales have rapidly increased worldwide. Women are buying more expensive lingerie now that they have more money to spend, driving the sector's growth. Social Media Impact and Creative Marketing Strategies Create Tremendous Opportunities Social media gives a strong possibility for product introductions and branding because of its capacity to link marketers with consumers. The rapid rise of social media has altered the business environment and given stakeholders in the sector new possibilities. Ongoing blogs on social networking sites like Facebook, Instagram, Twitter, and YouTube boost lingerie sales. Manufacturers use social media to promote their brands and build customer relationships by sharing exclusive information and offers. Intimate clothing and fashion-related gear are frequently discussed on social media. Social media dramatically impacts the demand for lingerie, especially among young people who are now actively using social media for information. As a result, lingerie-related social media blogs significantly impact market growth. Smaller, independent businesses have been allowed space on social media to grow and nurture their close-knit communities, posing a threat to long-standing giants like Victoria's Secret. As a result, social media is becoming increasingly critical for the growth of the global lingerie industry. Regional Analysis  Asia-Pacific is the highest revenue contributor and is anticipated to grow at a CAGR of 4.45% over the projection period. The lingerie market is growing for a variety of reasons. The need for intimate clothing is expanding due to the growing population in emerging economies in Asia and the Pacific. Significant factors influencing the growth of the lingerie industry are the rising per capita disposable income in APEA countries and the rapid urbanization of these regions. Additionally, it is anticipated that the growing number of working women in countries in the Asia-Pacific region will further fuel the market's growth throughout the forecast period. On the other hand, the lingerie market is anticipated to rise during the forecast period due to the accelerating development of the organized retail sector in several Asia-Pacific countries. North America is anticipated to grow at a CAGR of 4.6% during the projection period. One of the main forces behind the growth of the lingerie industry is expected to be the rise in the number of working women in the US. The expanding lingerie product lineup of significant manufacturers is one of the critical factors affecting the industry in this area. Innovation in lingerie patterns, colors, and materials is one of the essential factors projected to positively impact the increase of the lingerie market in the US. The presence of major manufacturers in the US gives consumers access to various items, increasing market demand. Additionally, Americans are starting to accept online shopping. Consumers favor online channels over store-based ones due to the lower cost and simplicity of distribution. Key Highlights The global lingerie industry size was valued at USD 95,450.90 million in 2022. It is projected to reach USD 143,075.47 million by 2031, growing at a CAGR of 4.60% during the forecast period (2023-2031). Based on product type, the lingerie market is bifurcated into bras, knickers and panties, shapewear, loungewear, and others. The bras segment is the major contributor to the market and is estimated to grow at a CAGR of 4.65% during the forecast period. Based on price range, the global lingerie market is bifurcated into the economy, premium. The economy segment is the major contributor to the market and is estimated to grow at a CAGR of 4.75% during the forecast period. Based on distribution channels, the global lingerie market is bifurcated into store-based and non-store-based. The segment is the major contributor to the market and is estimated to grow at a CAGR of 4.55% during the forecast period. Asia-Pacific is the most significant revenue contributor and is expected to grow at a CAGR of 4.45% during the forecast period. Competitive Players The global lingerie market's major key players are Yandy LLC, Marks and Spencer plc, Victoria's Secret, Group Chantelle, MAS Holdings, Jockey International, Inc, Fashion Nova Inc., Inc., and Hennes and Mauritz AB. Market News In February 2023, Victoria’s Secret launched ‘Forever Bra’ with plant-based pads. In February 2023, Victoria's Secret and VS Collective partner Naomi Osaka launched first design collaboration. Global Lingerie Market: Segmentation By Product Type Bras Knickers and Panties Shapewear Lounge Wear Others By Price Range Economy Premium By Distribution Channel Store Based  Non- Store Based By Regions North America Europe Asia-Pacific LAMEA