mass customization and personalization of lingerie is driving the Lingerie Market
Technavio analyzes that the Lingerie Market is expected to grow at a CAGR of 4.2% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 18 billion.There are various factors that contribute to the growth of the market. The lingerie market is witnessing a significant shift towards mass customization and personalization. Consumers are no longer satisfied with one-size-fits-all solutions. Brands are responding by offering customizable lingerie options, allowing customers to tailor their garments to their unique body shapes and preferences. This trend is expected to continue, as personalization not only enhances comfort but also boosts customer loyalty and satisfaction.
Specialty stores serve as a significant retail channel for the global lingerie market, with prominent players such as Jockey International Inc. and Victoria's Secret Stores and Co. focusing on this format due to its increased visibility and extensive product offerings. These retailers cater to the demand for both premium and innerwear lingerie, providing a crucial platform for manufacturers to showcase their products and build brand awareness. Fast-fashion retailers also contribute to the specialty store segment, offering the latest fashions at affordable prices, making it a convenient and accessible option for consumers. Manufacturers strategically allocate marketing, advertising, and promotional budgets to specialty stores to maximize product and brand exposure.
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Lingerie Market Segmentation
As per our research findings, here are some of the key competitors that are leading the industry
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The global lingerie market is experiencing significant growth due to increasing spending power and the shift towards daily wear, sportswear, and bridal wear. Natural beauty, flexible fabrics, lace, cotton, nylon, silk, and luxurious materials are popular trends. Lingerie market encompasses innerwear, commercial advertisements, and social media promotion of comfortable, stretchable, and stylish intimate wear. Athletic lingerie, such as sports bra collections, and online and in-store fitting services, are on the rise. Aggressive marketing strategies, including the Grand Lingerie Festival, showcase a wide range of innerwear products, from flexible fabrics to sustainable and comfortable lingerie, fashionable apparel, and creative marketing of fashion accessories.
The global lingerie market is a significant segment of the larger apparel, accessories, and luxury goods market. This market encompasses businesses involved in the production and distribution of lingerie, including daily wear, sportswear, bridal wear, and natural beauty lingerie. Key trends driving market growth include the increasing working female population, which contributes to rising disposable income and increased spending power on lingerie and related products. Additionally, consumer preferences for flexible fabrics, lace, cotton, and nylon are influencing market development. According to Technavio, the global textiles, apparel, and luxury goods market, which includes the lingerie sector, is projected to grow due to these and other factors.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
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