Lingerie Market By Product Type (Bra, Knickers & Panties, Loungewear, Shapewear, Others), By Distribution Channel (Online Channel, Hypermarkets, Specialty Stores, Others) - Growth, Future Prospects & Competitive Analysis, 2018 – 2026

Industry Outlook

Lingerie is an article of clothing that is both fashionable and functional. The global lingerie market was worth US$ 38.69 billion in 2017 and is expected to expand at a 4.5% CAGR from 2018 to 2026. Latest trends show women are keen on selecting the correct lingerie that is suitable for their outerwear. This is mainly because lingerie has become more of a cultural and psychosocial necessity for women.

Lingerie is one of the high-growth categories among other apparel segments and promises innovation and growth in the coming years. The rise in consumer income, combined with an increase in discretionary spending on fashionable clothing, has resulted in an increase in demand for lingerie. Several companies adopt visual merchandising as a strategic move to gather more customers. The use of colorful backgrounds in retail stores, as well as the use of mannequins to display products, attracts more customer attention.

The penetration of online channels is expected to boost the market growth in the coming years. In order to strengthen the online channel, companies take help from digital agencies that help with the display of the products. For instance, Intimatology, a digital agency in the U.S., helps with rebranding, web design, packaging, photography, copywriting, and developing sales collateral for lingerie. In addition to this, the company also recommends the incorporation of videos and interactive content to engage more customers on the websites.

Women's participation in sports has increased the demand for appropriate lingerie, such as sports bras. Exercises induce breast motion and the breast pain associated with it. In order to minimize such problems, sports bras were introduced that provide female athletes with comfort and better performance during sporting activities.

However, the high cost associated with advertisements and promotion of the products is a major restraint for the global market. The advertisements of lingerie through different media involve the hiring of models, which results in an increase in the cost of production, which is a major setback for the new entrants to the market.

Major players in the lingerie market include Adore Me, L Brands, Philips Van Heusen, Jockey International, American Eagle Outfitters, Triumph International, Wacoal, Hanesbrands, Groupe Chantelle, and Fruit of the Loom, among others.

Market Snapshot: Global Lingerie Market Value

Bras dominated the global lingerie market in 2017.

Based on different product types, the market is segmented into bras, knickers & pants, shapewear, and loungewear, among others. Bra dominated the market in 2017 and is expected to retain its dominance throughout the forecast period. Bras are further categorized into padded bras and non-padded bras. Non-padded bras are preferred by women as they can use them on a regular basis and because they have soft fabrics that provide comfort. Additionally, the versatility enhanced support, and low price of non-padded bras attract more customers' attention. However, changes in preferences for different outerwear have resulted in the purchase of padded bras, and this segment is expected to grow rapidly during the forecast period. Victoria's Secret is known for manufacturing heavily padded bras. However, in 2016, the sales of Victoria's Secret faced a major setback due to the rising demand for bralettes and sports bras.

Online distribution is the fastest-growing segment for lingerie.

Traditionally, women purchased lingerie from salespersons who had little knowledge regarding the product. The lingerie industry suffered greatly as a result of conservative women's preference for privacy due to fear of judgment. However, modern offline retail chains such as Macy's and Victoria's Secret, among others, reduced such problems but were limited by their reach. These channels also had limited shelf space, preferred brands, and sizes.

E-commerce websites gained more attention among some sections of women as they featured product details, a questionnaire regarding sizes, a wider selection of different brands, and a broader array of designs and colors. The return policy in online channels is also important in triggering the current growth rate of the online segment. Third-party e-retailers like Amazon introduced private-label lingerie brands in 2017. The company has approximately 63 million registered prime members and consumer intelligence retail partners that continuously monitor market performance. The prices offered by Amazon are also low compared to those of brands such as Victoria's Secret. For instance, Amazon offered bras for US$8 while Victoria's Secret offered the same at US$40.

However, there are people who are still skeptical regarding fit and material and thus prefer purchasing lingerie from physical stores. Thus, this poses a major challenge for the online channel to gain dominance over hypermarkets and specialty stores.

Europe dominated the global lingerie market in 2017.

Europe accounted for the largest market share in 2017. In terms of volume and value consumption, North America and Asia Pacific trailed Europe. France is the largest market for lingerie in Europe, followed by Germany in 2017. The French market is highly consolidated and consists of high-end brands such as Chantelle and Eres, among others. Women in France are involved in discretionary spending and spend approximately 20% of their income on lingerie.

Asia Pacific is expected to witness the fastest growth during the forecast period. China, among other countries, dominated the market in Asia-Pacific in 2017. The change in mindset toward purchasing different types of lingerie is creating opportunities in the Asia-Pacific region. Additionally, low-priced products exported from countries such as China and Turkey are a major competition for European brands. China accounted for more than 40% of the exports of lingerie in 2016. On the other hand, shifting preferences toward colored lingerie is one of the key factors fueling the demand for lingerie in Turkey. The Turkish Lingerie Association made $8 million in revenue from the sale of red lingerie in 2017. Earlier in 2016, the Turkish lingerie industry generated a profit of US$ 6 million, with the colored lingerie segment generating $3.5 million in revenue.

New Product Launch is one of the key strategies adopted by key players in the lingerie market.

The popularity of bralettes and sports bras has resulted in new product launches by major manufacturers. Companies such as Amazon are involved in shopper surveys and gather regular feedback on the products. Shoppers have the opportunity to chat with the experts regarding the sizes and quality of the products through online platforms. Amazon launched new lingerie brands under Mae and Arabelle in 2017. The new competition from Amazon resulted in declining sales for famous brands such as Victoria's Secret. The revenue of Victoria's Secret witnessed a decline of 8 percent in February 2018 compared to 2017.

Sports bras have grabbed more attention from women in recent years. Women prefer sports bras that would provide them with more comfort during exercise or sporting activities. In 2017, Nike launched a new sports bra called the FE/NOM FlyKnit bra for female athletes. The bra is soft and provides more support during sporting activities.

Improvement of the product portfolio through strategic acquisition is one of the strategies adopted by the key players in recent years. In 2018, Hanesbrands acquired Bra N Things, an Australian-based lingerie brand that has more than 172 retail stores in New Zealand, Australia, and South Africa. The acquisition helped the company with geographical expansion and an improvement in the product portfolio of swimwear, shapewear, and loungewear, among others.

Report Scope

The report provides a thorough outline of the global lingerie market by categorizing it into the different segments given below:This research report describes leading continents and their major countries, along with profiles of key players operating in the overall market and their planned developments. Our report further defines the overall market dynamics, such as drivers, challenges, and opportunities prevalent in the market, to understand the global lingerie market more explicitly. Our in-depth quantitative and qualitative analysis of each segment up to the country level highlights investment opportunities and revenue pockets in the market.

Key questions are answered in this report.

  • What are the current lingerie market trends, and what are the valuable opportunities for players?
  • Which is the most lucrative region for investment?
  • What are the market size and trends in emerging markets?
  • Which are the major product types of lingerie and their market sizes?
  • Which are the major distribution channels for lingerie and their market sizes?
  • Which are the leading players and their market positions?

Frequently Asked Questions:

The market for Lingerie Market is expected to reach US$ 38.69 Bn by 2026.

The Lingerie Market is expected to see significant CAGR growth over the coming years, at 4.5%.

The report is forecasted from 2018-2026.

The base year of this report is 2017.

Adore Me, L Brands, Philips Van Heusen, Jockey International, American Eagle Outfitters, Triumph International, Wacoal, Hanesbrands, Groupe Chantelle, and Fruit of the Loom, are some of the major players in the global market.

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Published Date:  Oct 2018
Category:  Consumer Goods
Report ID:   59360
Report Format:   PDF
Pages:   120
Rating:    4.1 (56)
Delivery Time: 24 Hours to 48 Hours   
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