In 2024, the lingerie market is estimated to reach a value of US$92,871.6 million, with projected sales showing a compound annual growth rate (CAGR) of 5.80% from 2024 to 2034. By 2034, the industry is expected to exceed a valuation of US$163,207.4 million.
Market expansion is driven by evolving consumer preferences, particularly the increasing demand for inclusive sizing and body-positive designs. Technological advancements such as smart fabrics and virtual fitting rooms enhance the shopping experience for customers.
Strategic marketing campaigns focusing on empowerment and self-expression resonate with a diverse consumer base, benefiting the industry. Additionally, the adoption of sustainable practices and eco-friendly materials further boosts consumer perceptions, contributing to the overall momentum of the industry.
Despite its growth, the lingerie industry faces notable challenges. Rapid changes in fashion trends and consumer preferences present a constant adaptation challenge for brands. Though a driving force, sustainability concerns also pose restraints as brands navigate the complexities of implementing eco-friendly practices throughout the supply chain.
The industry contends with the disruptive force of digital transformation, where the rise of e-commerce demands significant investments in digital strategies to remain competitive. Regulatory hurdles and compliance with stringent standards for intimate apparel add complexity for industry participants.
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The lingerie industry presents exciting opportunities for innovation and market expansion. Addressing unmet needs, such as developing specialized designs for diverse body types and embracing sustainable materials, opens avenues for differentiation. Leveraging technology, such as personalized fit recommendations and augmented reality shopping experiences, provides unique consumer interactions.
The fusion of lingerie with athleisure elements stands out, reflecting a desire for undergarments that seamlessly blend comfort and style. Inclusive sizing remains a prevailing trend as brands recognize the importance of catering to diverse body shapes. Sustainability takes center stage with a focus on eco-friendly materials and ethical sourcing. Virtual community engagement, driven by social media and influencers, transforms brand-consumer relationships while customization and personalization redefine the lingerie shopping experience.
“Brands can embrace direct-to-consumer models, establishing strong brand identities and connecting with consumers more effectively. Expansion into geographically and demographically untapped markets offers substantial growth opportunities for visionary lingerie businesses.” Sneha Verghese, Senior Consultant for Consumer Goods and Products at Future Market Insights (FMI).
Key Takeaways from the Lingerie Market
- The briefs segment is estimated to grab a 40% share in 2024.
- Offline distribution channels dominate the industry, with a 80% share in 2024.
- With a remarkable growth prospect, the lingerie industry in China is projected to expand at a CAGR of 7.10% through 2034.
- The United States lingerie industry is likely to rise at a CAGR of 5.30% through 2034.
- Germany lingerie industry is anticipated to expand at a steady CAGR of 70% through 2034.
- Sales of lingerie in India are expected to rise at a CAGR of 6.40% through 2034.
- Australia’s lingerie industry is anticipated to expand at a CAGR of 6.0% through 2034.
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Competitive Landscape of the Lingerie Market
The lingerie sector is marked by the influence of established brands, disruptive players, and inventive entrants. Market leaders, including Victoria’s Secret and Hanesbrands, wield dominance through widespread brand recognition and well-established distribution networks. Simultaneously, agile disruptors like ThirdLove and Adore Me carve their niche, leveraging sustainability, inclusivity, and distinctive design philosophies to resonate with a discerning consumer base.
Online commerce disruptors, such as Savage X Fenty and Boux Avenue, redefine market norms with seamless online experiences, aligning with the digital preferences of tech-savvy consumers. Concurrently, sustainable innovators like Organic Basics and Lara Intimates set themselves apart by championing ethical sourcing and eco-friendly practices, responding to the burgeoning demand for environmentally conscious choices.
Key Companies in the Market
- Victoria’s Secret
- Hanesbrands
- L Brands
- ThirdLove
- Cuup
- Savage X Fenty
- Jockey International
- Wacoal Holdings
Recent Developments in the Lingerie Market
- Walmart, the leading retailer in the United States, revamped its private label lingerie brand from Secret Treasures to Joyspun, with more sizes and styles to cater to different body types and preferences. Walmart also launched a new online platform called Bare Necessities, which offers over 160 lingerie, swimwear, and shapewear brands.
- Lingerie made of environmentally friendly materials is becoming increasingly popular among consumers as they seek more ethical and eco-conscious options. Some brands leading the way in this trend are Organic Basics, which uses organic cotton and recycled materials; Reformation, which uses deadstock fabrics and renewable fibers; and CUUP, which uses Oeko-Tex-certified fabrics and compostable packaging.
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Key Segments
By Product Type:
- Briefs
- Bras
- Shapewear
- Others
By Distribution Channel:
- Online
- Offline
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- The Middle East and Africa
Author
Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods.
Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, technology projects, and driving successful implementations. She has helped create insightful, relevant analysis of Food & Beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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