Overview of the intimate wear market in China
Market research analysts at Technavio predict that the intimate wear market in China will grow steadily during the next four years at a CAGR of around 15% by 2021. This market research analysis identifies the rise in expenditure for trendy innerwear is one of the primary growth factors for this market. Numerous vendors in China are coming up with intimate wears as per customer demands where the improved standard of living has made the intimate wear no longer limited to simple designs. The trend of matching everyday clothing with fashionable lingerie is fast gaining popularity and the intimate wear market has reached its matured stage with women willing to spend on luxury innerwear. Moreover, women now have realized the importance of intimate wear and are ready to spend more by purchasing premium innerwear that offer improved comfort and designs.
The increasing number of e-commerce sites is one of the latest trends that will gain traction in the intimate wear market in China. Driven by the large penetration of the Internet and mobile users, the online lingerie market brands such as Victoria's Secret and Calvin Klein contribute to a significant part of the market revenue. Benefits such as online measurements for the right size of bra and the provision of questionnaire for measurement purposes for customers have made online shopping a preferable choice. Moreover, online shopping also offers improved delivery options, provides assistance videos and articles, followed by excellent customer care services such as click and chat or assistance on call, which increases the number of users, in turn, driving market growth.
Competitive landscape and key vendors
The intimate wear market in China consists of well-diversified international and regional vendors. With the growing demand for intimate wear, the vendor competition is predicted to intensify during the forecast period. Competition among the key vendors will lead to the introduction of several innovative and comfortable intimate wears. The growth in product line extensions and offerings will also intensify the market’s competitive environment.
The leading vendors in the market are -
- Aimer
- Cosmo Lady
- Embry Group
- Huijie Group
The other prominent vendors in the market are Victoria's Secret Stores, LLC., Foshan Casland Garments Co., Ltd, La Perla, Triumph International, Wacoal, Xiamen Hexin Fashion Company, Xiamen Channel Underwear Company, and Uniqlo.
Segmentation by product and analysis of the intimate wear market in China
- Undergarments
- Thermal wear
- Sleep wear and loungewear
During 2016, the undergarments segment accounted for the major shares of the intimate wear market in China. The segment will experience an increase in demand during the forecast period due to the higher preference for comfortable, fashionable, trendy, alluring, and sophisticated innerwear. Additionally, the need to cater to the basic hygiene will also contribute to the growth of this market.
Segmentation by end-user and analysis of the intimate wear market in China
- Mass market
- Premium market
As per this market research report, the mass market segment accounted for the maximum shares of the intimate wear market in China during 2016. The growth in population of middle-class women and the preference of stylish products at cheap price in the smaller and unorganized markets fuel the segment’s growth in the coming years.
Key questions answered in the report include
- What will the market size and the growth rate be in 2021?
- What are the key factors driving the intimate wear market in China?
- What are the key market trends impacting the growth of the intimate wear market in China?
- What are the challenges to market growth?
- Who are the key vendors of the intimate wear market in China?
- What are the market opportunities and threats faced by the vendors in the intimate wear market in China?
- Trending factors influencing the market shares of China.
- What are the key outcomes of the five forces analysis of the intimate wear market in China?
Technavio also offers customization on reports based on specific client requirement.
Technavio’s insightful reports for the consumer and retail industry also cover product markets like apparel and textile and general retail goods and services. Further to providing information on various market attributes that will drive and challenge the growth of vendors in the consumer and retail industry in China, Technavio’s reports also enlists all the leading vendors and the competitive market landscape for consumer and retail industry.
Our market research specialists pursue a comprehensive research approach of primary and secondary research methodologies and undertake a detailed study of the demand-supply shifts to forecast the apparel and textile industry's growth prospects in China. With an aim to help clients devise new ideas for growth, our upcoming industry research report on the intimate wear market in China for the forecasted period of 2017 to 2021 renders practical overviews created from the data collected from sources like manufacturers, channel partners, regulatory bodies, and key decision makers.
This upcoming report on the intimate wear market in China also takes into consideration the growth of identical markets like maternity intimate wear and online lingerie in APAC, which are expected to grow at a CAGR of about 3% and almost 28%, respectively by the year 2021. As observed by our market research analysts, the growing middle-class economy, and relocation of the population to urban cities and an increase in disposable income will propel the apparel and textile market’s growth in China for the next few years.
This upcoming industry research report on the intimate wear market in China also identifies the key drivers, emerging trends, and the setbacks faced by the consumer and retail industry and gives holistic overviews of consumer services and personal care, cosmetics and toiletry, and retail systems markets.