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The intimate apparel market share is projected to surge by USD 57.34 billion by 2026, at an accelerating CAGR of 8%.
This intimate apparel market research report extensively covers market segmentations by the following:
The intimate apparel market report also offers information on several market vendors, including American Eagle Outfitters Inc., BAREWEB INC., Chantelle SA, Debenhams Plc, Embry Holdings Ltd., Hanesbrands Inc., Hanky Panky Ltd., Jockey International Inc., Lise Charmel, Marks and Spencer Plc, MAS Holdings Pvt Ltd., PVH Corp., Shenzhen Huijie Group Co. Ltd., Sockkobe Co. Ltd., Stella McCartney Ltd., Triumph Intertrade AG, Urban Outfitters Inc., Victorias Secret and Co., Wacoal Holdings Corp., and Zivame Platform among others.
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The preference for visually appealing intimate apparel among fashion-conscious customers, especially women is notably driving the intimate apparel market growth, although factors such as fewer barriers to new entrants leading to intense competition among key brands may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the intimate apparel industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Intimate Apparel Market Driver
One of the key factors driving the global intimate apparel market growth is the preference for visually appealing intimate apparel among fashion-conscious customers, especially women. The increase in the number of working women, the rise in demand from developing countries, and the recovery from the negative impacts of the pandemic are some of the drivers of the market growth. In addition, in recent years, due to the increasing disposable income of consumers, the demand for luxury, premium, and high-fashion women's intimate apparel products has increased. Additionally, due to the growing female participation in the workforce, leading intimate apparel brands are focusing on launching new product lines. According to the US Bureau of Labor Statistics, in 2019, 57.4% of women in the US were employed in the labor force, compared to 69.2% of men. Such factors will propel the growth of the global market in focus during the forecast period.
Key Intimate Apparel Market Trend
Rising trend of athleisure in the intimate apparel industry is one of the key intimate apparel market trends that is expected to impact the industry positively in the forecast period. Athleisure is a fashion trend in which clothing designed for athletic activities or workouts can be worn at workplaces and for social or casual occasions. Sports bras are one such example. With an increasing demand for better performance, new fabrics and designs are being introduced by key competitors to provide proper fit based on each consumer cup shape and comfort and to absorb perspiration efficiently, leaving the skin dry. For example, Chantelle has introduced high-impact sports bras for work, gym, yoga, and other activities. In addition, market competitors are entering into strategic partnerships with other competitors as well as with those specializing in apparel for yoga, which will further support the market growth.
Key Intimate Apparel Market Challenge
One of the key challenges to the global intimate apparel market growth is the fewer barriers to new entrants leading to intense competition among key brands. The market is dominated by a large number of key players, including AEO Management, Berkshire Hathaway, Hanesbrands, Jockey International, PVH, and L Brands. Additionally, many start-ups, including ADOREME.COM, have also entered the market and are selling luxury lingerie at low prices, primarily through e-retailing. Due to the presence of many players, there is intense competition, which in turn, has resulted in price wars. Key manufacturers distinguish their products based on comfort level, fabric quality, price, and variety. Due to price wars, manufacturers tend to compromise on the quality, which ultimately affects consumers and the market growth,
This intimate apparel market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global intimate apparel market as a part of the global apparel, accessories, and luxury goods market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the intimate apparel market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the intimate apparel market encompasses successful business strategies deployed by the key vendors. The intimate apparel market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The intimate apparel market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the intimate apparel market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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41% of the market's growth will originate from APAC during the forecast period. China and India are the key markets for intimate apparel in APAC. Market growth in this region will be faster than the growth of the market in other regions.
Rapid growth in population, the significant rise in income level, westernization of buying habits, and change in lifestyles will facilitate the intimate apparel market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, the COVID-19 outbreak had a negative impact on the regional intimate apparel market. Governments in countries such as China, India, and Australia imposed nationwide lockdowns and COVID-19-related social distancing norms to curb the spread of the disease. As a result, in countries such as China, retail stores offering intimate apparel were shut from the last week of January 2020. However, with an increase in the number of stores reopening over the course of May 2020 in APAC, the sales of regional vendors improved. Owing to the increasing popularity of premium and high-quality intimate apparel in APAC, the regional demand for intimate apparel will continue to increase during the forecast period.
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The intimate apparel market share growth by the lower innerwear segment will be significant during the forecast period. The growth is attributed to the launch of sustainable and innovative briefs.
This report provides an accurate prediction of the contribution of all the segments to the growth of the intimate apparel market size and actionable market insights on post COVID-19 impact on each segment.
US Intimate Apparel market - The market share will grow at a CAGR of 3.46 percent over the period 2014-2019.
Intimate Apparel Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8% |
Market growth 2022-2026 |
$ 57.34 billion |
Market structure |
Fragmented |
YoY growth (%) |
7.0 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 41% |
Key consumer countries |
US, China, India, Germany, and UK |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
American Eagle Outfitters Inc., BAREWEB INC., Chantelle SA, Debenhams Plc, Embry Holdings Ltd., Hanesbrands Inc., Hanky Panky Ltd., Jockey International Inc., Lise Charmel, Marks and Spencer Plc, MAS Holdings Pvt Ltd., PVH Corp., Shenzhen Huijie Group Co. Ltd., Sockkobe Co. Ltd., Stella McCartney Ltd., Triumph Intertrade AG, Urban Outfitters Inc., Victorias Secret and Co., Wacoal Holdings Corp., and Zivame Platform |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Product
6 Market Segmentation by Gender
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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