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Lingerie Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

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  • 149 Pages
  • August 2022
  • Region: Global
  • Mordor Intelligence
  • ID: 4703949
The lingerie market is projected to register a CAGR of 7.79% during the forecast period (2022-2027).

With most retail outlets closed and limited fitting room facilities, the sales of lingeries in physical outlets were affected drastically during the COVID-19 pandemic. However, the demand for more work from home comfort outfits and zero-feel products through e-commerce has been high during the pandemic period. The sales of non-wired bras and bralettes went up by approximately 40% compared to 2019, as stated by the online retailer Figleaves. Amid the pandemic, the purchase of lingerie underwent a drastic change. Pre-pandemic, women chose to buy innerwear from physical stores where they could see, touch, feel, and in some cases, even opt for trials. However, due to the COVID-19 outbreak and the mandatory lockdowns, customers were forced to stay indoors, triggering a shift in their purchasing behavior. Moreover, social media helped consumers understand the importance of self-hygiene and the benefits of good quality lingerie. With millions of women working from home, they opted for comfort and self-care.

Over the medium term, the change in outlook toward underwear and lingerie from being a necessity to fashion products to complement a toned body has been a major factor driving the demand for fashionable and trendy lingerie. The increasing availability of a broad range of products in multiple designs for various purposes, such as sports, bridal wear, and regular wear, has also been driving the global market.

Over the past few years, social and cultural movements, such as body positivity, inclusivity, sustainability, and diversity, had a big impact on the lingerie market. Furthermore, the demand for seamless and one-piece intimate apparel in a natural look is increasing among consumers, which is further fueling the market growth. The inclusion of a wide range of colors, finishes, applications, and fabric designs is yet another factor for a positive change in consumers' purchasing behavior for lingerie.

Moreover, lingerie manufacturers have been collaborating with multiple distributors, including supermarket chains like Walmart, Tesco, and Target, among others, and independent retailers to expand their product availability and reach out to more consumers.

Key Market Trends

The Increased Penetration of Organized Retail is Driving the Lingerie Demand

The evolving retail industry is marked by the emergence of many stores in hypermarkets/supermarkets, specialty formats, and online lingerie retail stores. Comfort and convenience are increasingly becoming important to customers because of their hectic lifestyles and work schedules. Large organized retail stores stock various brands and a variety of lingerie wear, including bras, briefs, etc., under one roof, providing more options to consumers. These stores also offer other intimate apparel to fulfill the requirements of shoppers. With the increase in preference for branded products among consumers, the importance of organized retailers carrying branded lingerie wear has also increased.

Moreover, lingerie brands like Adore Me and Brayola are taking advantage of advancements in technology to provide unparalleled shopping experiences with artificial intelligence to get deeper insights into consumer behavior and provide personalized experiences to shoppers. Thus, the penetration of organized retail will enable consumers to seek information about various brands and compare prices and quality, which results in a better purchase decision.

Largest Consumer Base for Lingerie is in Asia-Pacific

Asia-Pacific is the largest lingerie market as lingerie designers and popular lingerie brands like Berrymelon, Victoria’s Secret, La Perla, Agent Provocateur, and Neiwai, among others, have been emphasizing the usage of lace, embroidery, luxurious fabrics, and lighter hues in their lingerie, which is expected further to boost the demand for lingerie during the forecast period. Lingerie manufacturers have been introducing gender-fluid, body-inclusive, and vegan variants for sustainability-conscious consumers, especially millennials and the growing generation Z population. For instance, Brisbane’s NICO Underwear offers undergarments ethically made in Australia, India, and Bangladesh using sustainable and soft fabrics, including "LenzingModal", recycled cotton, and recycled nylon for the necessary stretch. Further, it offers a range of wire-free, full-cup bras, triangle cup bras, and bralettes in soft, sustainable fabrics, along with a wide selection of underwire bras.

Competitive Landscape

The market is competitive, with the presence of global players such as L Brands Inc., Jockey, Triumph International, MAS Holdings, and Phillips-Van Heusen Corporation. The major players are embarking on industry consolidation by entering agreements or acquiring prominent domestic firms, which has intensified the competitive rivalry. The players have been leveraging the power of artificial intelligence (AI) to offer customized services that make consumers feel like they are consulting a lingerie expert in-store from the comfort of their homes. These services encompass online consultations, size-fit tests, fabric and pattern selection, feedback, and surveys. Furthermore, major players have been focusing on encashing the opportunities posed by innovation in the market to expand their product portfolios so that they can cater to the requirements in various product segments, especially within the category of gender-fluid and size-inclusive lingerie styles, as well as produce lingerie pieces that combine fashion with comfort, while providing confidence to consumers.

Additional Benefits:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support

This product will be delivered within 2 business days.

Table of Contents

1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5.1 Product Type
5.1.1 Brassiere
5.1.2 Briefs
5.1.3 Other Product Types
5.2 Distribution Channel
5.2.1 Supermarkets/Hypermarkets
5.2.2 Specialist Retailers
5.2.3 Online Stores
5.2.4 Other Distribution Channels
5.3 Geography
5.3.1 North America United States Canada Mexico Rest of North America
5.3.2 Europe Germany United Kingdom France Russia Spain Italy Rest of Europe
5.3.3 Asia-Pacific India China Japan Australia Rest of Asia-Pacific
5.3.4 South America Brazil Argentina Rest of South America
5.3.5 Middle-East and Africa South Africa United Arab Emirates Rest of Middle-East and Africa
6.1 Market Share Analysis
6.2 Most Adopted Strategies
6.3 Most Active Companies
6.4 Company Profile
6.4.1 Hansbrands Inc.
6.4.2 Jockey International Inc.
6.4.3 Aimer
6.4.4 Triumph International
6.4.5 MAS Holdings
6.4.6 Berkshire Hathaway
6.4.7 Zivame
6.4.8 Phillips-Van Heusen Corporation
6.4.9 Hop Lun Limited
6.4.10 Wacoal Holdings Corp.
6.4.11 L Brands Inc.