Women's Lingerie Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Type ; Material ; Distribution Channel ; and Geography
NEW YORK, June 5, 2020 /PRNewswire/ -- The global women's lingerie market was valued at US$ 35,169.4 million in 2018 and is projected to reach US$ 77,894.8 million by 2027; it is expected to grow at a CAGR of 9.3% from 2019 to 2027. The word lingerie is a term taken from the French language, meaning undergarments, and used specifically for more lightweight items of female undergarments. The original French word is derived from the old French word lingerie, meaning linen. The fast changing consumer preferences for fashionable and unique apparel products in today's day is driving the women's lingerie market globally.
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Lingerie is a category of women's clothing, including undergarments (mostly brassieres), sleepwear, and lightweight robes.The lingerie concept is a visually appealing undergarment, which was developed during the late nineteenth century.
The word 'lingerie' is often motivated by an intention to imply the garments are alluring and fashionable.The fast development of information technology and globalization is leading the entire world by providing information about the latest and trending products available in the market.
On account of this, shoppers associated with lingerie market are aware of the latest global fashion trends.Furthermore, the growing influence of social media is also accelerating the changes in consumer preference of apparel products such as lingerie items.
As wide range of customers prefer buying products online to save their time, most of the market players display and sell their products in an online platform to increase their customer base. Branded apparel companies are also focused on introducing innovative lingerie items as per the changing fashion trend and consumer demands. These factors are positively impacting the women's lingerie market.
Based on type, the women's lingerie market is segmented into brassiere, knickers or panties, shape wear, and others.In 2018, brassiere or bra held the largest market share.
There are different types of bra available in the market that are suitable for different body and breast shapes, and also for different occasions.Manufacturers produce different variety of brassieres that serve a variety of purposes by using various kinds of materials such as cotton, satin, silk, nylon, and many others.
Bras or brassiere can enhance the perceived shape of a woman's breasts, restrain breast movement during activities such as exercise, minimize or enlarge the perceived breast size, overcome breast sagging, and others.Most bras are particularly designed to be form-fitting, to lift the breasts off the chest wall if they sag, and to restrain their movement.
Swimsuits, camisoles, and backless dresses have built-in breast support coupled with supportive bra cups. Nursing bras are designed for moms to facilitate breastfeeding. Availability of different styles of brassiere for different purposes is expected to drive the growth of women's lingerie market.
Europe held the largest share of the global women's lingerie market.The trend of fancy and fashionable lingerie among female population is driving the market growth in the country.
Additionally, the demand for comfortable and functional lingerie is growing among the customers, especially working females, thus encouraging manufacturers to innovate a new range of fabrics such as nylon, polyester, satin, lace, sheer, spandex, silk, and cotton for lingerie manufacturing.Consumers are more attracted to color, fabric, and style, which is encouraging the manufacturers to introduce trendy lingerie suitable for various activities.
Lingerie designers are emphasizing on creating products with luxurious materials, embroidery, brighter hues, and lace which is expected to drive the market during the forecast period.
Gap Inc., Triumph International, Hanesbrands Inc., Jockey International, Inc., Hunkemöller International B.V., MAS Holdings, PVH Corp., L-Brands, Chantelle Group, Hanky Panky are among the major companies operating in the global women's lingerie market. These market players focus on providing fancy and trendy women's lingerie products with various grades and superior properties. The companies have realized the immense potential pertaining to women's lingerie products and were highly involved in market initiatives, new product development, investment scenario and other strategies. For instance, in February 2020, Hanes Brands has added its successful DreamWire bra innovation into its third brand with the launch of Bali.
Coronavirus outbreak first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe.As of May 2020, China, Italy, Iran, Spain, republic of Korea, France, Germany, and the US are some of the worst affected countries in terms of confirmed cases and reported deaths.
According to the latest WHO figures, there are ~ 5,728,642 confirmed cases and 353,692 total deaths globally.The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns.
The global fashion and apparel industry is one of the major industries that is facing serious disruptions such as supply chain breaks, office shutdowns, shutdown of malls, shops, retail stores or brand stores etc. as a result of this outbreak. For instance, China is the global hub of manufacturing and largest raw material supplier for various industries and it is also one of the worst affected countries. The lockdown of various plants and factories in China is affecting the global supply chains and negatively impacting the manufacturing, delivery schedules, and sales of various goods including apparel. Various companies have already announced possible delays in product deliveries and slump in future sales of their products. Additionally, the global travel bans imposed by countries in Europe, Asia, and North America are affecting the business collaborations and partnerships opportunities. All these factors are anticipated to affect the fashion and apparel industry in a negative manner and thus act as restraining factor for the growth of various markets related to this industry in the coming months.
Overall size of the global women's lingerie market has been derived using primary and secondary sources.The research process begins with extensive secondary research using internal and external sources to obtain qualitative and quantitative information related to the global women's lingerie market.
Additionally, multiple primary interviews were conducted with industry participants and commentators to validate and analyze the data. The participants who take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specialized in the women's lingerie market.
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