The United States lingerie industry is expected to grow at a CAGR of 5.30% through 2034, fueled by rising disposable incomes among American consumers, which are increasing spending on apparel, including lingerie. Additionally, evolving fashion trends and a heightened emphasis on comfort and style are driving demand for lingerie that is both attractive and functional.
The global lingerie market is projected to grow from an estimated USD 92,871.6 million in 2024 to over USD 1,63,207.4 million by 2034, reflecting a compound annual growth rate (CAGR) of 5.80%. This robust growth is being fueled by evolving consumer preferences, the rise of e-commerce, and a significant societal shift towards inclusivity and diversity in fashion.
Key Insights
- Market Valuation Growth: The lingerie market is estimated to surge from USD 76.73 billion in 2019 to USD 91.02 billion in 2023, showcasing a CAGR of 4.40% in this period, before accelerating to 5.80% from 2024 to 2034.
- E-Commerce Expansion: The shift towards online shopping is reshaping the lingerie industry, with brands leveraging digital platforms for greater accessibility, brand discovery, and consumer engagement.
- Comfort Meets Style: The athleisure trend has influenced lingerie choices, as consumers prioritize comfort alongside aesthetic appeal. Demand for seamless, wireless, and breathable designs is rising, prompting brands to innovate.
Market Dynamics
The lingerie market’s evolution is closely tied to cyclical fashion trends, and brands that remain agile in adapting to changing consumer preferences are more likely to capture market share. Notably, brands embracing inclusivity in marketing strategies resonate better with a diverse consumer base.
Significant Trends Influencing Growth
- Technological Innovations: Brands are introducing virtual fitting rooms and augmented reality features to enhance the online shopping experience, allowing customers to try on garments virtually.
- Sustainability Practices: Eco-friendly packaging and a commitment to circular fashion are emerging as crucial market drivers, with consumers increasingly favoring brands that prioritize ethical sourcing.
- Inclusive Representation: The use of body-inclusive mannequins and campaigns reflecting diverse body types are transforming the retail landscape, making it more relatable for consumers.
- Specialized Offerings: Growing segments include lingerie designed specifically for post-surgery recovery and maternity, addressing unique consumer needs with a focus on comfort and aesthetics.
Competitive Landscape
The lingerie industry encompasses a diverse range of participants, from established fashion powerhouses to niche brands that cater to specific consumer needs. This sector is marked by intense competition, as brands strive to capture consumer attention and solidify their market positions.
Leading players in the industry leverage widespread brand recognition, extensive distribution networks, and a commitment to ongoing innovation to maintain their dominance. This approach enables them to stay ahead of evolving trends and expand into new markets. In contrast, smaller niche brands carve out their own space by focusing on specialized segments—such as sustainable lingerie, inclusive sizing, or personalized designs. These brands distinguish themselves through unique products, targeted marketing strategies, and strong connections with their audiences.
Lingerie brands face the challenge of rapidly changing consumer preferences, the need to adopt sustainable practices in response to increasing environmental concerns, and the transformative effects of digital technology on traditional sales channels. The rise of e-commerce and digital marketing requires substantial investments in digital strategies to adapt to shifting consumer behaviors online. Despite these challenges, the lingerie industry offers promising investment opportunities for newcomers looking to enter this dynamic market.
Recent Developments in the Lingerie Industry
- Victoria’s Secret, which dominated the lingerie market for decades, is in the middle of reinvention with the acquisition of direct-to-consumer brand Adore Me for US$ 400 million. Adore Me offers a wide range of sizes and styles and a subscription service, which will help Victoria’s Secret expand its customer base and improve its online presence1.
- Knix.com, a Canadian startup that sells leakproof underwear, bras, and loungewear, was acquired by Swedish company Essity for US$ 400 million. Knix.com is known for its innovative products that address women’s health and wellness needs, such as period-proof panties and postpartum recovery kits.
- ThirdLove, a digitally native brand that uses data and technology to create personalized bras, acquired Kit Undergarments, targeting Gen Z shoppers with colorful and comfortable intimates. ThirdLove plans to leverage Kit Undergarments’ social media presence and celebrity endorsements to reach a younger demographic
Key Companies in the Market
- Victoria’s Secret
- Hanesbrands
- L Brands
- ThirdLove
- Cuup
- Savage X Fenty
- Jockey International
- Wacoal Holdings
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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
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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 over 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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