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Lingerie Market Poised to Create New Opportunity of over US$ 93.1 Bn through 2031

Lingerie Market

Lingerie Market

Lingerie Market is estimated to expand at a CAGR of 8.5% during the forecast period, North America is expected to register the highest CAGR in the future

ALBANY , NY, US, January 25, 2022 /EINPresswire.com/ -- Transparency Market Research delivers key insights on the global lingerie market. In terms of revenue, the global lingerie market is estimated to expand at a CAGR of 8.5% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the global lingerie market.

Lingerie companies are expanding their product lines to meet the increasing demand for lingerie products. Moreover, strong product innovation among lingerie companies with newer features in lingerie is expected to boost the market during the forecast period. In addition, companies are adopting latest technologies to provide extra benefits and more comfort to clients, and to boost their own efficiencies.

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Lingerie Market: Key Segments

In terms of product type, the bra segment is expected to dominate the lingerie market during the forecast period. Based on growth rate, the lounge wear segment is projected to expand at a faster rate during the forecast period. Lingerie is anticipated to go through rapid acceptance in the fashion industry. Women from all backgrounds want to try out the latest trends in the inner wear segment. Even men in this market are often noticed to try out the latest inner wear. Most of the large brands have exclusive stores in shopping malls or outlet stores. In developing countries such as India and China, brands such as Jockey try to reach out to customers through small roadside innerwear shops. Additionally, lingerie for both genders is available at stores as well as online. Brands such as Victoria’s Secret have country specific websites for easier transactions and shipment.

In terms of end-use, the women segment is anticipated to hold major share and maintain the share during the forecast period. Vendors in the lingerie industry are increasingly integrating innovative features in existing products. With the increasing focus of vendors on offering more convenience to end users, the lingerie industry is anticipated to witness a large number of innovations and product expansion.

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Lingerie Market: Prominent Regions

North America is expected to register the highest CAGR in the future in the global lingerie market. Key players operating in the lingerie market in the region are adopting new technologies to provide quality products to customers. Increasing promotional activities are also expected to have a positive impact on the market in the region.

Based on region, the global lingerie market can be categorized into North America, Europe, Asia Pacific, MEA, and South America. North America accounted for a dominant share of the global lingerie market in 2020 and is expected to remain dominant during the forecast period.

Key Players

Key players operating in the global lingerie market are Amante, Zivame, Victoria’s Secret, Calvin Klein, Jockey, Marks & Spencer Group Plc, Ralph Lauren Corp., LBrands, Inc., Hanesbrands Inc., and LVMH Moet Hennessy Louis Vuitton, among others.

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Changing Attitude of Women toward Innerwear and Expansion of Online Retailing Boosting Lingerie Market

Internet retailing has been witnessing robust growth in the lingerie segment for the past few years. The online retail industry offers a wide variety of buying options to its customers. Furthermore, customers have increasingly become confident in terms of use of online payment options due to advancements in online payment security options.

Bargain options made available by various online retail websites also attract customers. The widening range of Internet retailing websites has further boosted the sale of lingerie and other products. Major players in the e-commerce sector are progressively offering far more lucrative deals to shoppers in order to make their presence felt.

Production of lingerie globally, women’s attitude toward spending on lingerie, and selection of specific lingerie for specific occasions have increased exponentially during the past two to three decades. Rising disposable income has further spurred the demand for lingerie across the globe.

Economic growth in developing economies has led to rise in disposable income of consumers. This has helped increase consumer confidence in terms of buying and investing in high quality lingerie in the market.

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TMR
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