Lingerie Market Size, Share & Trend Analysis Report By Product Type (Briefs, Bras, Shapewear, Others), By Distribution Channel (Online, Offline), By Region, And Segment Forecasts, 2023 - 2030

Report Summary

The global lingerie market size was valued at USD 88.32 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 6.1% from 2023 to 2030. Growing awareness regarding the best fit of products, the increasing population of millennials, and the increasing spending power of women are some of the major factors expected to drive the market over the forecast period. The rise in the availability of a wide range of products in numerous designs for several purposes such as daily wear, sportswear, and bridal wear has also been propelling the industry growth. The increasing popularity of lingerie across the globe is also attributed to the shifting focus of men and women toward such products to accentuate their natural beauty.

The growing trend of using flexible fabrics for the manufacturing of lingerie is driving the market. The increase in demand for and usage of lingerie can also be attributed to the usage of various fabrics including lace, cotton, nylon, silk, and sheer. Designers of lingerie products are focusing on creating products manufactured using luxurious materials, embroidery, lace, and others. Thus, such factors are expected to boost growth over the forecast period. The aforementioned factors are shifting the focus of consumers towards these kinds of products, which is eventually encouraging the designers and the manufacturers to present similar fashionable lingerie suitable for diverse purposes.

The further growth of the market is attributed to increasing demand for one-piece and seamless intimate apparel among consumers as they provide a more natural look. Furthermore, good fabric design finished application and the addition of a broad range of colors in the product line are other key factors surging the demand for lingerie among consumers. However, the unavailability of lingerie in plus sizes to fit diverse sizes is expected to hamper growth. Moreover, lingerie is high priced and expensive as they are manufactured using sophisticated and expensive machinery, which is expected to hinder growth over the forecast period. In contrast, investment and spending are done by various key players to develop lingerie for all shapes and sizes, which is anticipated to present key growth opportunities for the market.

COVID-19 took a drift on various industries while it benefitted others. However, it took a toll on the market for lingerie and resulted in a fall in product demand and purchase. Majorly, the physical outlets were severely affected due to restrictions, government guidelines, and lockdown situations as consumers were forced to stay at home to avoid the surge in the spread of the disease. However, consumers were still purchasing lingerie through online channels. As a result, the effect of the COVID-19 pandemic on the market for lingerie was less than that of other industries.

Product Type Insights

The briefs segment dominated the market and held a revenue share of over 55.0% in 2022. This is attributed to the availability of various products made of comfortable fabrics such as cotton and nylon, designed with various styles such as hipster, shorts, and full briefs. Companies are coming up with special kinds of knickers with jacquard and lace designs, no VPL lace trim, and high waist control to provide comfort and other benefits, which is further contributing to the growth.

The shapewear segment is expected to exhibit the fastest CAGR of 6.8% over the forecast period. The growth of the segment is attributed to the growing usage of compression wear among the targeted population, coupled with developments in fabric technology and garment design. The growth of the market is also surging due to the influence created by the philosophy of body positivity, thus encouraging buyers to purchase products. Moreover, the increasing demand for intimates with the flexibility to appear more attractive along with comfort is facilitating the growth of the segment.

Distribution Channel Insights

The offline segment held the largest share of over 60.0% in 2022. This segment has been gaining traction owing to its benefits such as the advantage of scanning the products and trial facility of the product before purchase. Moreover, the presence of a store associate who helps in choosing the right product influences the buying decision, thereby boosting segment growth. Moreover, purchasing products from offline mode allows the consumer to make surety about the size and fitting of the product along with analyzing the quality of it, which is further contributing to the use of offline mode and hence driving the segment.

Online distribution channel is expected to growat the fastest CAGR of 6.5% over the forecast period. The growth of the segment is attributed to various benefits provided by online channels to consumers. These benefits or advantages include easy and hassle-free returns, discounts, and others. Due to such reasons, the preference of consumers is shifting towards online mode and thus contributing to segment growth. With an aim to reach out to the vast consumer base, companies are also associating or collaborating with online retailers along with introducing their own e-portals to gain maximum attention from consumers and generate revenue.

Regional Insights

Asia Pacific dominated the market with a revenue share of over 40.0% in 2022 and is expected to be the fastest-growing regional market over the forecast period. An increase in awareness regarding best fits as usage, changes in lifestyles of working millennials, increasing income to invest in the best available products, and an obsession with maintaining a well-groomed structure are the key factors driving product demand. Consumers are ready to spend on upcoming products with innovations. International companies are opening their stores in the region to reach a wider customer base.

North America held the second-largest share in 2022. The market is majorly driven by the presence of sophisticated consumers and the high demand for premium and luxurious brands. Companies are focusing on designs and quality for each shape and size. A high preference for premium lingerie brands and limited editions in North America has contributed to the significant growth of the global market. Wider product availability, along with increased penetration of online as well as offline channels for these products, is driving the regional market.

Key Companies & Market Share Insights

Key players in the market are adopting various strategies to attract more consumers to the brand and taking steps to increase the global footprint. These strategies include mergers and acquisitions, partnerships, alliances, the launch of new products, global expansion, and others. For instance, the announcement regarding the launch of three retail stores in India was made by Victoria's Secret. In addition, in October 2021, the announcement pertaining to the launch of the brand's first e-commerce store for the lingerie collection was made by ZARA. Some of the initiatives taken are:

• In June 2023, Victoria’s Secret and Amazon Fashion collaborated to improve the shopping experience for customers. The collaboration will include over 4,000 fashion items from Victoria's Secret and PINK, including panties, bras, swimwear, loungewear, and sleepwear. Particular bra and apparel styles will also be available on Amazon Prime’s Try Before You Buy program.

• In February 2023, HanesBrands Inc. launched the Hanes Originals collection, which encompasses a range of innerwear for women, men, girls, and boys, including bras, underwear, T-shirts, and tanks. The collection is a fusion of vibrant patterns and colors and innovative fabrics. It includes men's boxer briefs and trunks in youthful prints, modern fits, and lower rise, as well as women’s bra-tops, bralettes, boyshorts, bikinis, and thongs in seasonal prints and a soft cotton blend.

• In November 2022, Jockey International Inc. announced the launch of its 10th exclusive brand store in the UAE. The launch earmarked a significant milestone in the network of exclusive Jockey stores since its first store launch in 2014.

• In August 2022, Calvin Klein revealed the ‘Autumn 2022’ campaign featuring a diverse group of culture shapers. The campaign showcased new underwear and loungewear styles, including the Embossed Icon collection, the Modern Cotton silhouettes collection, and the Modern Cotton Naturals collection.

Some prominent players in the global lingerie market include:

• Jockey International Inc.

• Victoria’s Secret

• Zivame

• Gap, Inc.

• Hanesbrands Inc.

• Triumph International Ltd.

• Hunkemoller

• Bare Necessities

• Calvin Klein

• MAS Holdings

Lingerie Market Report Scope

Global Lingerie Market Report Segmentation

This report forecasts revenue growth at global, regional & country levels and provides an analysis on the latest trends and opportunities in each of the sub-segment from 2017 to 2030. For the purpose of this study, Grand View Research has segmented the global lingerie market on the basis of product type, distribution channel, and region:

• Product Type Outlook (Revenue, USD Billion; 2017 - 2030)

  • Briefs

  • Bras

  • Shapewear

  • Others

• Distribution channel Outlook (Revenue, USD Billion; 2017 - 2030)

  • Online

  • Offline

• Regional Outlook (Revenue, USD Billion; 2017 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • U.K.

    • Germany

    • France

    • Italy

    • Spain

  • Asia Pacific

    • China

    • Japan

    • India

    • South Korea

    • Indonesia

  • Central & South America

    • Brazil

  • Middle East & Africa

    • South Africa