Lingerie is a type of women clothing that includes sleep wears, undergarments, and lightweight robes. These undergarments are appealing, alluring, erotic, and fashionable made up of a variety of materials from general undergarments for instance lace, silk, satin, polyester, lycra, and nylon, which are stretchy & flexible that provide an erotic look to the wearer.
Lingerie market has come up with most stylish & comfortable wearable with set of innovations & designs available in different price-range that provide many options to health-conscious & fashion concerned customers gaining their attention and making them spend more on lingerie products only for fashion and to follow the trend out of their need.
As per analysis, “Lingerie Market: Segmented By Product Type (Brassiere, Knickers, Shape Wear and Others); By Distribution Channel (Online and Offline); and Region – Global Analysis of Market Size, Share & Trends for 2019 – 2020 and Forecasts to 2030” some of the key companies that are presently operating in the global lingerie market include LVMH Moët Hennessy – Louis Vuitton SE, Marks & Spencer Group plc, Jockey International, Inc., Groupe Chantelle, Hunkemöller International B.V., MAS Holdings, Victoria’s Secret, Triumph International, Fashion Nova, Inc., Yandy LLC and among others. Key companies are focusing on growing their business to obtain higher revenue and support their market presence.
Based on product type, lingerie market is segmented as knickers, brassiere, shape wear and others. In addition, based on distribution channel, market is categorized as online channel and offline channel. Online distribution channel segment is expected t witness higher growth rate owing to growth in popularity of e-commerce platforms among manufacturers coupled with high internet penetration during the forecast period.
The lingerie market is driven by increase in per capita income levels, followed by growth in population of financially independent women, increase in number of retailers & availability of online platform, rise in demand for branded lingerie wear, increase in awareness about best fit and growing availability, innovative offerings to target customers, change in preferences of young generation, rapid urbanization & expansion of sales channels and increase in concerns about versatile use of fabric & leading manufacturers. However, change in fashion trends as well as consumer tastes may impact the market. Moreover, growth in popularity and rise in usage of major social media platforms like Facebook, Instagram, and Pinterest is a key opportunity for market.
By regional analysis, the Asian-Pacific region dominates the global lingerie market owing to rise in influence of the western culture and increase in purchasing power across the region. The North-American and European regions are expected to exhibit considerable growth rate due to presence of major players coupled with increase in number of initiatives by leading players to meet the rising demand for lingerie by consumers over the forecast period. It is anticipated that future of the global lingerie market will be bright caused by increase in number of initiatives to enhance sales during the forecast period.
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Ankur Gupta, Head Marketing & Communications