Lingerie Market: Sustainable, Plus-Size and Luxury Lingerie

Lingerie Industry Overview

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.

Gather more insights about the market drivers, restrains and growth of the Lingerie Market

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.

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Recent Developments

• 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.