Intimate Wear Market to Reach USD 152.71 Billion by 2032; Women's Diverse Lives and Fashion Practices to Propel Growth
The Brainy Insights
8 min read
The Brainy Insights
The intimate wear market size is anticipated to grow from USD 88.56 Billion in 2022 to USD 152.71 Billion in 10 years. The market ought to witness a positive growth rate owing to growing sales across e-commerce platforms. The dynamics of the intimate world market in APAC region are significantly shaped by nations such as China, Japan, and India.
Newark, Dec. 20, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the global Intimate wear market will grow from USD 88.56 Billion in 2022 to USD 152.71 Billion by 2032. With brands acknowledging the variety of body shapes and sizes, the intimate wear market has seen a notable shift towards inclusivity in recent years. The availability of a large variety of sizes and the encouragement of body-positive imagery are two examples of this inclusion. Models of different ages, sizes, and ethics are being accepted by the business enterprises, which is questioning conventional notions of beauty and promoting a more inclusive image. Intimate clothing is important for special occasions and intimate situations beyond daily wear. For instance, bridal underwear, which frequently has exquisite details, satin, and delicate lacing, is made to match wedding gowns. Similarly, lingerie meant for romantic dates emphasizes style and decorations to improve the overall visual appearance.
North America region is expected to grow at the highest CAGR during the forecast period.
During the forecast period, North America is expected to grow at the highest CAGR within the global Intimate wear market. The Asia-Pacific region would significantly expand. Deep understanding and attention to diversity and body positivity have greatly affected North America's intimate wear business industry. Companies that actively support diversity and offer a broad selection of body types and sizes have become more popular. The growing demand for literature that embraces diversity in beauty standards and promotes individuality reflects the market's reflection of the cultural trend towards inclusivity. North American cultural and fashion trends shape the mark for intimate clothing. Consumer preferences are directly impacted by runway trends, celebrity endorsements, and cultural movements, creating a dynamic and always-changing industry. Because of its importance to education and diversity in the area, lingerie is not only a practical item of clothing but also a means of empowerment and self-expression.
The bra’s segment is expected to grow at the highest CAGR during the forecast period.
The product type segment includes bra’, briefs, shapewear and others. The bra’s segment is expected to grow at the highest CAGR during the forecast period. Bras are the mainstay of the intimate apparel industry, with a significant market share due to their essential function in shaping and supporting the body. This category includes various styles, such as sports bras, push-up bras, balconettes, bralettes, and everyday bras. The variety of bra styles accommodates a range of tastes, emotions, and body shapes. Bras for daily use, prioritizing comfort and usability, hold most of the market share. An adjustable strap system, an underwire, and a variety of cup designs are common elements in these bras, providing a supportive and personalized fit. Sports bras are a product category expanding quickly due to consumers' growing awareness of fitness and health.
The male segment is expected to grow at the highest CAGR during the forecast period.
The gender segment is bifurcated into male and female. The male segment is expected to grow at the highest CAGR during the forecast period. Despite being neglected, the market for intimate apparel has seen substantial expansion and diversity in the male sector in recent years. Men’s underwear, which includes boxers, briefs, and other product categories, makes up a sizable market share of the industry. The way men's fashion and grooming are growing together with shifting views on what it means to be a man has made a variety of styles within this category more visible and accessible. Men’s sports and athletic equipment have grown to be essential components of the market for underwear for men. Simple and fashionable alternatives, such as sleep shorts and fashionable designs, fit in with the growing trend of men looking for clothes that can be worn for various circumstances.
The online sales segment is expected to grow at the highest CAGR during the forecast period.
The distribution channel segment is bifurcated into online sales and offline sales. The online sales segment is expected to grow at the highest CAGR during the forecast period. The market for intimate wear is going through a revolutionary period thanks to the rise of e-commerce, with online distribution channels seeing rapid expansion. Online platforms include a range of channels, such as direct-to-consumer (DTC) channels, third-party electronic communication channels, and brand websites. Customers looking for ease of use, a wide range of products, and the capacity to make well-informed decisions from the comfort of their homes are drawn to the online distribution channel. Customers can communicate directly with intimate women's brands through brand websites. Companies frequently use their web presence to promote product lines, give consumers comprehensive product details, and interact with customers via various digital platforms. E-commerce features integrated into brand websites allow for direct sales, making shopping easier for customers.
• In February 2023: The Hanes Originals collection, which includes bras, underwear, T-shirts, and tanks, was introduced by HanesBrands Inc. for men, women, and girls. The collection synthesises creative fabrics, vivid colours, and patterns. Men's trunks and boxer briefs with youthful patterns, contemporary fits, and lower rise are included, along with women's bra-tops, bralettes, boy shorts, bikinis, and thongs in soft cotton blends and seasonal prints.
Market Dynamics
Driver: Rising Influence of Social Media
Undeniably, social media has played a crucial role in influencing customary tastes and behaviours, especially in the market for intimate apparel. Social media platforms like Instagram, Pinterest, and TikTok have become important avenues for promoting brands, spreading the word, and engaging with customers. Social media has a broad impact on the intimate apparel market, and content producers and influencers are crucial in determining the attitudes and tastes of consumers, particularly about lifestyle and body positivity. Intimate wear manufacturers may effectively promote their products and establish connections with their target audience through social media channels. Brands can communicate their identity, highlight characteristics of their new collections, and emphasize aspects of their products using visually engaging material. This factor is boosting the market growth and development.
Restraint: Supply Chain Disruptions
The market for intimate wear is severely challenged by supply chain disruptions, which natural disasters, geopolitical tensions between countries, or international health emergencies can bring on. Due to its dependence on international networks for sourcing and manufacturing, the industry is vulnerable to supply chain disruptions. Factors such as manufacturing plant closures, shipping delays, and shortages of certain materials can impact timelines for production and inventory levels. Companies that don't diversify their supply chains or take precautionary measures to reduce risk may be especially susceptible to these external disturbances. This factor is restraining the makrut growth and development.
Opportunity: Growing E-commerce Platform
Intimate clothing has undergone a significant transformation owing to e-commerce. The anonymity and confidentiality of online shopping have greatly impacted customer behaviour. The market has grown due to the convenience of browsing and buying intimate items from home, with many direct-to-consumer brands and interior merchants becoming more well-known. By utilizing artificial intelligence and data analytics, e-commerce platforms may improve the customized shopping experience, make product recommendations, and offer effective sizing guidelines. This factor helps alleviate some of the difficulties of buying intimate wear online.
Some of the major players operating in the intimate wear market are:
• Victoria’s Secret • Zivame • Gap, Inc. • Triumph International • Calvin Klein • Wacoal Holdings Corp. • Chantelle • HanesBrands Inc. • Hunkemöller • Natori
Key Segments Cover in the Market:
By Product Type:
• Briefs • Bras • Shapewear • Others
By Gender:
• Male • Female
By Distribution Channel:
• Online Sales • Offline Sales
By Region
• North America (U.S., Canada, Mexico) • Europe (Germany, France, the U.K., Italy, Spain, Rest of Europe) • Asia-Pacific (China, Japan, India, Rest of APAC) • South America (Brazil and the Rest of South America) • The Middle East and Africa (UAE, South Africa, Rest of MEA)
The market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes porter's five forces model, attractiveness analysis, product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channel analysis.
About The Brainy Insights:
The Brainy Insights is a market research company that provides actionable insights through data analytics to companies to improve their business acumen. They have a robust forecasting and estimation model to meet the client's objectives of high-quality output within a short period. They provide both customized (client-specific) and syndicate reports. Their repository of syndicate reports is diverse across all the categories and sub-categories across domains. Their customized solutions meet the client's requirements whether they are looking to expand or planning to launch a new product in the global market.
