Global Intimate Wear Market to Reach $325.36 Billion, Globally, by 2025 —Allied Market Research
According to a new report published by Allied Market Research, titled, “Intimate Wear Market by Gender (Women and Men), Age Group (13–17 Years, 18–35 Years, and 36 Years & Above), Price (Luxury, Super-Premium, Premium, Medium, Economy, and Low), Distribution Channel (Mass Merchandizers, Mono brand Stores, Specialized Stores, and Others): Global Opportunity Analysis and Industry Forecast, 2018-2025” the global intimate wear market is expected to generate $325.36 billion by 2025, growing at a CAGR of 8.1% from 2018 to 2025. In 2017, Asia-Pacific led the intimate wear market, followed by North America. Growth in the region is supplemented by increase in national per capita disposable income and growth in fashion consciousness among the young generation.
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Changes in lifestyle, rise in awareness regarding hygiene, fluctuation in demographic dividend, and customization of product portfolios boost the growth of the global intimate wear market. However, prevalence of dermatological conditions among intimate apparel wearers is expected to limit the growth of this intimate wear industry. The fabric used to manufacture intimate wear is also enhanced and made more comfortable, thus offering promising opportunities for the intimate wear market players.
According to Shankar Bhandalkar, Sr. Research Analyst, Consumer Goods at Allied Market Research, “New measurement and design techniques combined with production methods and innovative materials transform the quality, range, and applications of intimate wear. For instance, German lingerie designs show a new trend toward muted colors such as earthy tones, navy blue, and pastel colors. Lingerie designers are coming up with many new designs that are embroidered and have two-tone color patterns and most of them are asymmetrical. Animal prints and organic shapes combined with geometrical patterns are also in fashion. Luxurious, elegant, desirable, and evocative vintage lingerie is also gaining popularity in both the fashion markets and modern intimate apparel.”
Intimate apparel is sold through different channels such as mass merchandizers, mono brand stores, specialized stores, and others. Among these, mass merchandizers segment comprising hypermarket and supermarkets, accounted for around half of the overall sale of intimate wear and is projected to lead the market during the forecast period. Moreover, availability of products at low cost and accessibility to a wide variety of intimate wears available in supermarkets fuel the growth of this segment.
In addition, huge and economical work force along with abundance of raw material attracts international manufactures to set up their manufacturing units in the developing countries, such as India, which helps to propel the intimate wear market growth.
Furthermore, initiatives in developing countries such as “Make in India” campaign offers opportunities to develop this market further in India, as this will reduce the overall cost of operation for manufacturers of intimate wear.
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KEY FINDINGS OF THE STUDY
- The women intimate wear segment was the highest contributor to the global intimate wear market in 2017 and is projected to grow at a CAGR of 8.5%.
- The lingerie segment occupies more than 50% of women intimate wear market share and is projected to grow at a CAGR of 8.0%.
- There is a continuous increase in the demand for sportswear owing to the comfort offered. This demand is projected to grow at a CAGR of 9.1% during the forecast period.
- The mass merchandizers segment accounted for 47% share of distribution channel segment of the intimate wear market and is expected to grow at a CAGR of 7.4%.
- Asia-Pacific is projected to exhibit rapid growth in the intimate wear market, owing to rise in its economy with a large population base, and is projected to grow at the most astounding CAGR of 9.9% from 2018 to 2025.
- China accounted for the highest share accounting approximately 50% in the Asia-Pacific intimate wear market, in 2017.
- In 2017, the age group segment of 36 years & above accounted for 59% of the intimate wear market share and is expected to grow at a CAGR of 8.2%.
In terms of value, Asia-Pacific and LAMEA collectively contributed 45% share in the global intimate wear market in 2017. The key players profiled in this report are L Brand Inc., Berkshire Hathaway Inc., American Eagle Outfitters (Aerie), Hanes Brands Inc., Jockey International Inc., MAS Holdings, Triumph International Ltd., Hanky Panky Ltd., PVH Corporation, and Chantelle Group.
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