Lingerie Market - Global Industry Analysis

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Lingerie is a category of women's clothing made of lightweight, stretchy, smooth, sheer, or decorative fabrics such as silk, satin, Lycra, charmeuse, chiffon, or (especially and traditionally) lace. These fabrics can be made of natural fibers like silk or cotton or of synthetic fibers like polyester or nylon. The lingerie market at the turn of the 21st century was driven by the advent of modern technologies and fabrics that helped in designing innovative products such as laser-cut seamless bras and molded T-shirt bras. Designers are putting greater emphasis on rich-looking fabrics, laces, embroideries, and brighter colors. Also, women over the years have turned out to be more conscious towards wearing the right lingerie with perfect measurements and looks. Manufacturers are making great efforts to make lingerie more comfortable along with rich-looks using different fabrics.

Increasing disposable income and changing attitude towards self-presentation coupled with rapidly spreading of mall culture in emerging economies is the major factors fueling the growth of the lingerie market. Growing online sales and high participation of women in sports is also supporting the growth of the market. However, high cost incurring for advertisements for lingerie may hamper the growth of the market. Furthermore, product innovations and lingerie for men would provide opportunities for market growth in the upcoming years

Based on product, the market is segmented into the bra, knickers and panties, loungewear, shapewear, and others. The bra is an essential necessity and also a fashion accessory to every woman and it has captured the largest market share in 2015. Based on distribution channel, the market is segmented into online sales and storefront. Online sales captured the largest market in 2015 due to the high penetration of internet services and rapid advancements in the field of technology thus creating a strong platform for the manufacturers of lingerie.

North America is by far the leading market for lingerie market. The U.S. market is expected to grow at the highest CAGR during the forecast period. This growth is mainly due to the presence of a large number of lifestyle users and extensive popularity of athletics, and other sports. The Asia Pacific is anticipated to witness the fastest growth rate during the forecast period. Transition in the lifestyle of the consumers which is backed by rapid urbanization and increasing purchasing power is a major factor behind the high growth of lingerie market in the Asia Pacific. Furthermore, consumer exposure to the same through advertisements in the televisions and print media, among others is another key factor responsible for the growth of the lingerie market in this region.

Some of the key players in the lingerie market are Jockey International Inc., Wisconsin, Hanes, Groupe Chantelle, LVMH, L Brands Inc., MAS Holdings Limited, Ann Summers, Marks and Spencer, and PVH Corporation, among others. Companies are involved in collaboration agreements for R&D to exploit maximum potential. Amazon is entering the market with a private label lingerie brand. The line, called Iris & Lilly is already launched in the UK with a limited assortment of sizes and colors.