25-Oct-2018 | Zion Market Research
With the presence of a large pool of participants, the global lingerie market is displaying a highly competitive business landscape, finds a new research report by Zion Market Research (ZMR). Jockey International Inc., Wisconsin, Hanes, Groupe Chantelle, LVMH, L Brands Inc., MAS Holdings Limited, Ann Summers, Marks and Spencer, and PVH Corporation are some of the key vendors of lingerie across the world. These players are focusing aggressively on innovation, as well as on including advanced technologies in their existing products. Over the coming years, they are also expected to take up partnerships and mergers and acquisitions as their key strategy for business development, states the lingerie market study.
This review is based on a report by Zion Market Research, titled “Lingerie Market by Product (Bra, Knickers and Panties, Loungewear, Shapewear, and Others) and by Distribution Channel (Online Sales and Storefront): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017 - 2024.”- Report at https://www.zionmarketresearch.com/report/lingerie-market
Citing an instance, in October 2018, Hennes & Mauritz AB – a Sweden-based multinational clothing retail firm- launched a number of bras designed for women who have undergone either mastectomy as a result of breast cancer. Reportedly, the bra collection includes a basic bra style, front-closure sports bra style, and a lace bra style that can offer comfort to breast cancer women survivors.
As estimated in this report, the global lingerie market stood at US$ 38.19 billion in 2017. Witnessing a tremendous rise during the period from 2018 to 2024, the revenue in this lingerie market is expected to reach US$ 59.15 billion by the end of the forecast period. The main products available in this market are bra, knickers and panties, loungewear, shapewear, and others. Among them, the demand for bra is relatively higher and the trend is anticipated to remain so over the next few years, notes the research report.
Humungous Demand For Product And Shifting Lifestyles To Steer Market Growth
“Massive product demand from young women population, changing lifestyles, and rise in the number of working women are expected to support lingerie market trends over the coming years,” says the author of this study. Apart from this, lingerie producers are introducing new products in online as well as physical retail stores and this is likely to impel the growth of lingerie market in the upcoming years. In addition, increase in spending on personal appearance and rapidly altering fashion trends are few of the key growth drivers of lingerie market.
Furthermore, rapidly thriving ecommerce business along with immense Smartphone popularity among the young female population is anticipated to lucratively impact lingerie market earnings during foreseeable future. Acceptance of newly designed bras for cosmetic purpose will further impel lingerie market size in the years to come.
Growing Sales & Trade Promotion Activities To Spur European Dominance
Regionally, Europe has been leading the worldwide lingerie market and is anticipated to continue on the dominant position in the years to come, states the lingerie market study. Attractive discounts offered by online retail stores along with subscriptions, free shipping charges, comfort, and proper fit are the major factors behind the dominance of the Europe lingerie market. The high number of key market players being headquartered in Europe is another significant factor that is supporting the growth of this regional lingerie market.
The global lingerie market is segmented as follows:
By Distribution Channel
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