Bra Market is projected to reach a Valuation of US$ 46.5 Billion by the End of 2031 - Transparency Market Research, Inc.
- Rise in number of working women is anticipated to increase the bra market size during the forecast period.
- Demand for different bra styles such as strapless bra, nursing bra, and sports bra, is expected to augment industry growth from 2022 to 2031
- Surge in fashion trends and rise in demand for comfortable clothing is expected to drive the bra market growth
WILMINGTOM, Del., Dec. 19, 2022 /PRNewswire/ -- The global bra market size is projected to grow at a CAGR of 5.4% from 2022 to 2031. With the evolution of fashion and changing trends, different types of bras such as sports bra and nursing bra were introduced in the market that served specific purposes such as easy feeding; and for comfort and support during outdoor activities or exercise. Presently, a wide range of bra options are available for women. This is projected to have a positive influence on the growth of the global bra market during the forecast period.
According to the TMR report, the global bra market was valued at US$ 27.8 Bn in 2021 and is anticipated to reach US$ 46.5 Bn by the end of 2031. Rise in number of online retail stores and increase in disposable income of women is expected to promote growth of the bra market during the forecast period.
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Key Findings of Study
- Rise in Brand Awareness Propelling Market Growth: Rise in disposable income has propelled the living standard of women. This is projected to bode well for multiple industries such as apparel, accessories, bags, and shoes. Among these, the inner garment industry is expected to gain significant traction, especially the bra market. This is attributed to the changing fashion trends and rise in popularity of comfortable and occasion-appropriate clothing. Women have a keen interest in multiple fashion choices, which is likely to promote new business opportunities for the bra market in the next few years.
- Increase in Population of Working Women Augmenting Industry Growth: Rise in population of working women has led to an increase in income levels and ultimately in the purchasing power of women. The rise in spending abilities and growing awareness about brands and fashion trends are projected to positively change the overall bra market outlook during the forecast period.
Key Drivers
- Increase in disposable income of working women has propelled the sales rate of the bra market along with other women's fashion accessories.
- Rise in expenditure on personal grooming is projected to help drive the global bra market during the forecast period.
- Ease of online shopping options for women is estimated to spur growth of the bra market
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Regional Growth Dynamics
- North America emerged dominant in the bra market and the trend is projected to continue during the forecast period. This is attributed to the rise in purchasing power of the women workforce that influences the demand for major brands in the bra industry. The US has majority share in the bra market in the region.
- Asia Pacific is expected to emerge as the fastest growing market for bras due to the presence of multiple medium-size and local brands and their manufacturing bases. Additionally, the low manufacturing and raw material cost in the bra business is projected to help this region offer tough competition to the current market leader (North America) in the near future.
Key Players
The global bra market is fragmented in terms of competition with presence of multiple players. The high brand presence and popularity of some of these brand names will help them maintain an inner circle of leading players, thereby restricting the entry of new players. Most of the top brands such as Victoria's Secret & Co., and Jockey International, are investing heavily on brand promotion and digital advertising in order to attract higher revenues.
Some notable players in the global bra market include Wolf Lingerie Limited, Groupe Chantelle, Wacoal, Victoria's Secret & Co., Triumph International, PVH Corp., Jockey International, Hanesbrands Inc., Calida Group, Berkshire Hathaway Inc., L Brands Inc., and The Phillipps-Van Heusan Corporation.
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Bra Market Segmentation
Type
- Padded
- Non-padded
Style
- Sports Bra
- Nursing Bra
- Convertible/Multi-way Bra
- Adhesive/Stick-on Bra
- Others (Strapless Bra, Backless Bra, etc.)
Price
- Low
- Medium
- High
Distribution Channel
- Online
o E-commerce Websites
o Company Owned Websites
- Offline
o Supermarket/Hypermarket
o Specialty Stores
o Other Retail Stores
Regions
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Countries
- U.S.
- Canada
- Germany
- U.K.
- France
- Spain
- Italy
- Russia & CIS
- China
- India
- Japan
- ASEAN
- Brazil
- Mexico
- GCC
- South Africa
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Transparency Market Research registered at Wilmington, Delaware, United States, is a global market research company providing custom research and consulting services. TMR provides in-depth insights into factors governing demand in the market. It divulges opportunities across various segments based on Source, Application, Sales Channel, and End-Use that will favor growth in the market over the next 9 years.
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