Lingerie Market is to Reach USD 33.18 Billion by 2024:- Transparency Market Research

According to a new market report published by Transparency Market Research “Lingerie Market By Type (Bra, Knickers and Panties, Lounge wear, Shape wear, Others) By Distribution Channel (Online Stores, Store Front)– Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2016– 2024”,the global lingerie market was valued at USD 33.18 billion in 2015 and is expected to reach USD 55.83 billion by 2024, growing at a CAGR of 6.2% from 2016 to 2024.

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Lingerie market showed significant growth in recent years owing to the rising income levels, sophistication among women, rising women working population. Women over the years have become more conscious towards wearing the correct lingerie with their attire and thus this seen to boost the global lingerie market. Western wear encompasses specific lingerie which are provided by the manufacturers through continuous research and development. Further women are increasingly conscious towards wearing lingerie of specific brands and styles. Manufactures take keen notice towards the demands among the population and through continuous research and development thus manufactures products that not only satisfies the demand but also consists of unique designs.

The global lingerie market is segmented by different types namely bra, knickers and panties, lounge wear, shape wear and others which includes baby doll, corsets, chemises and chemisoles. Bra dominated the global lingerie market as it is a fashion accessory and also a daily necessity to every women present across the globe. The market is further segmented on the basis of distribution channel namely online stores and store fronts. Rising usages of mobile devices coupled with internet access among the population is thus fueling the growth of the global lingerie market. This growth is expected to boost the global lingerie market during the forecast period.

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The market is majorly driven by the availability of lingerie across different channels like online and store fronts, changing attitude of women towards the purchase of correct lingerie and presence of qualified professionals who guides women regarding the purchase of the correct inner wear. Women over the years has become much more confident regarding the purchase of correct lingerie fitting with their attire.

However, the quality of materials used to manufacture or design the lingerie is not satisfactory and skin-friendly for men and women. Skin rashes or other dermatologically related issues can occur if high quality fiber or cloth is not used. Large companies/ brands take time in selecting the cloth material and elastics to thread the product. High cost associated with the advertisement of the global lingerie market is also resulting to hindrance to the global lingerie market over the years.

The market is further segmented by application and end use. By application the market has been segmented into land water sanitizing and aerial. And by end use the market has been segmented into agricultural farms and livestock farms. It is seen that disinfectants applied on land occupied the largest market followed by water sanitizing. Water Sanitizing is mainly done to protect the livestock population where disinfectants are applied on the drinking water of the livestock.

By geography, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa and Latin America. The study also covers major countries in all the regions such as The U.S in North America, The U.K, Germany, France, Italy and Rest of Europe in Europe, China, India, Japan and Rest of APAC in Asia Pacific, Brazil in Latin America and UAE, South Africa, and rest of Middle East and Africa in Middle East and Africa among others. Europe dominated the global lingerie market in 2015. Asia Pacific with the presence of high demand from the population and also due to the emerging countries like India and China is expected to drive the market and create a positive impact upon the demand of lingerie during the forecast period.

The key players operating in the global lingerie market are, Jockey International Inc. (Kenosha, Wisconsin, U.S), Hanes (North Carolina U.S.), Groupe Chantelle (Cachan, France), LVMH (Boise U.S), L Brands Inc. (Columbus, Ohio), MAS Holdings Limited (Colombo, Srilanka), Ann Summers (London, U.K.), Marks and Spencer (London U.K), PVH Corporation (New York, U.S) among others.

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This release was published on openPR.