Global intimate wears market is expected to grow at a significant CAGR in the upcoming period as the scope and its applications are rising enormously across the globe. Intimate apparel is also known as lingerie, is a type of undergarment worn under the main apparel and is constructed of one or more flexible fabrics. The fabrics used may be of cotton, nylon, silk, polyester, lycra, satin, sheer fabrics, and lace.
The factors that are playing a major role in the growth of intimate wear market are varying day-to-day life, customization of product collections, growing awareness concerning sanitation, and changing demographic dividend. However, factors like the occurrence of dermatological conditions among intimate attire is restraining overall market growth. The market is segmented based on gender, age group, price, distribution channel, and region.
Based on gender into men, women, boys and girls classify intimate wear market. The women intimate wear segment accounted for the substantial share of the market and is estimated to lead overall market in the years to come. The reason could be latest fashion trends and rising expenditure on intimate wears by women in comparison to men. Also, men sector is estimated to grow at fastest pace over the period.
Based on age group into 13-17 years, 18-35 years, and 36 years & above classify intimate wears market. Premium, medium, super premium, economy, low, and luxury are the price types that are explored in the market. The medium priced intimate wears sector accounted for the significant share of the market and is estimated to lead overall market in the years to come. The reason could be growing middle class population group. In addition, luxury intimate wear segment is estimated to grow at the fastest pace over period.
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Based on distribution channel, market is classified into department stores, retail, variety stores, street markets, mass market (hypermarkets & supermarkets), specialized chains, online stores, and others.
Hypermarkets and supermarkets sector accounted for the substantial share of the market and is estimated to remain dominant over the period. Also, street store and online stores sectors are estimated to grow at the fastest pace in the years to come.
Globally, Asia Pacific accounted for the substantial share of intimate wear market in terms of revenue and is estimated to lead overall market in the years to come. The reason behind overall market growth could be low manufacturing cost, skilled labor, and strong infrastructure. China is a key consumer of intimate wears in this region and main exporter of lingerie to North America and Europe.
Europe and North America are also estimated to have a positive influence on future growth. Europe is the second largest region with significant market share. However, North America is estimated to grow at the highest CAGR in the forecast period.
The key players of intimate wears market are PVH, American Eagle Outfitters, L Brands, Fruit of the Loom, Jockey International, Hanes Brands, Wolf Lingerie, Bare Necessities, Beijing Bird Fibrils Garments, Wacoal, Hanky Panky, Rosy, and Stella McCartney. These players are concentrating on inorganic growth to sustain themselves amidst fierce competition.
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