Global Lingerie Market Size Forecasts, Growth and Trend.
A study found the global lingerie market size worth USD 29.9 billion out of the estimated total apparel market size worth 1200 Billion. As per the Compound Annual Growth Rate (CAGR) 7.5% projected to increase from 2019 to 2025. The lingerie market share is 3%-5% of the total apparel market. People used the lingerie for innerwear and the consumption of this lingerie is not much as outerwear and does not want to spend more for this inner product. They spend more on outer cloth due to their variety of styles and fashion. There are some people who agree to purchase expensive lingerie and they are rare.
The global lingerie market is emerging and can increase by developing awareness of women. The fabric and accessories of lingerie are not common as outerwear. The lingerie fashion designer can develop different designs lingerie and can play a vital role to increase the sale of lingerie. If we want to increase the lingerie then we have to create awareness for it`s a user. If they feel comfortable with the fitting of lingerie, then they will use more and purchase more and the lingerie market size will be increased.
Lingerie Market Overview:
- The implementation of the comfortable lifestyle of consumers influences the purchasing power to choose for lingerie wears. It will play a significate role in total lingerie Market size.
- As we know that the promising demographics, growing per capita income a preference to branded products are anticipated to drive the demand of the lingerie market.
- The rising fashion trends, involved with the growing retail landscape crossways brands, is the key feature for the successful lingerie market.
- The fighting is upright and Lingerie companies often create alliances to present a more solid forward. Productive publicity strategies and dedication in particular markets benefit in allowing lingerie companies to create better revenue.
Key Market Trends:
Growing toward Online Sales:
Over the current years, online lingerie sales show a boom. Because consumers have gradually become more happy-making lingerie buying from their computers and cell phone device. The growth of online apparel sales is mainly credited to web-only. A better revelation to the internet and F-commerce has advanced the fashion consciousness and convenience of high-end brands and partial version products. With 71% of social media suppliers demanding, they have an influencer marketing budget and sale is rising as expected. So, the lingerie market is trending on online sales. Due to its improved demand. it is clear to see that sellers are finding value in influencers.
North America Grips a Prominent Share:
North America grip a prominent lingerie market. Canadian apparel industrial companies have gradually moved toward lingerie markets. They are scheming and creating high-end lingerie, sportswear, Activewear, and protective apparel. Some big lingerie producer that have off-shored their lingerie production to controller their costs. They are also employed short-run and extra services in the region to reply to the fast-changing trends in retail manufacturing. They produce high-end lingerie as well. To be competitive in the global lingerie market, top lingerie producers are accepting new technologies and automation through the supply chain. Digital technology receiving is rising in the lingerie sector. It holds the growth of or multichannel approach to sales. Thus, North American holds a projective share in the lingerie market.
Competitive Landscape of Lingerie Market:
The global lingerie market is an irregular market with the presence of many major and smaller companies in the market such as China is occupying an estimated market of around 40% whereas others like Vietnam 10% Bangladesh 8% India 6%. It can say that the lingerie market in the emerging areas has a strong messy market offering a wide range of products like- Bra, Panty, camisole, shapewear, Sportswear. The spread-out source network of international brands has an influence on the international lingerie markets. But they face a sharp struggle at the hands of local manufacturers with respect to area fashion favorites and prices. The major companies from the buyer end in the lingerie market are PVH, H&M, Target, Walmart, Inditex, Auchan, Nike, and Carrefour.