A new market research report titled "Lingerie Market Report (2023-2028)" reveals that the global lingerie market is estimated to be worth USD 82.28 billion in 2023, with a projected compound annual growth rate (CAGR) of 8.02% during the forecast period.
The innerwear and lingerie industry has witnessed robust growth in recent years, driven by consumers' increasing focus on both style and comfort, influenced by media and advertising. Lingerie is now perceived as a fashion product that enhances body features rather than just a necessity.
Brands are actively expanding their product portfolios through new brands, mergers, acquisitions, and innovations. The global lingerie market is highly competitive and fragmented, with key players operating across different regions and offering diverse product lines.
These industry leaders are investing in new materials and design technology to cater to evolving consumer preferences. Some of the major players dominating the global lingerie market in 2023 include Hansbrands Inc., Jockey International Inc., Victoria's Secret & Co., Triumph International, MAS Holdings, Berkshire Hathaway Inc., Zivame, PVH Corp., Aimer Group, and Wacoal Holdings Corp.
Aggressive marketing and influential endorsements have become essential for market players to adapt to the rapidly changing industry landscape. Consumers tend to connect more with brands when endorsed by their favorite celebrities, leading to potential market growth. The Asia-Pacific region holds the largest consumer base for lingerie, driven by factors like increasing e-commerce, rising disposable incomes, and changing consumer preferences.
Manufacturers are introducing gender-fluid, body-inclusive, and vegan variants to cater to sustainability-conscious customers. Recent developments in the lingerie market include Victoria's Secret & Co.'s acquisition of Adore Me Inc., Triumph International's launch of a new brand, Triumph, and MAS Holdings' partnership with ByondXR to create virtual showrooms for an enhanced retail experience.
The comprehensive Mordor Intelligence market research report serves as a valuable resource for start-ups, industry players, investors, researchers, consultants, and business strategists seeking to understand and navigate the dynamic lingerie industry.
By Fashionating World