Lingerie Market Projected to Reach $79.30 Billion by 2030

The lingerie market is on a robust growth trajectory, anticipated to soar to a substantial value of $79.30 billion by 2030. This surge is primarily attributed to evolving fashion trends, the empowerment of women, and the increasing number of women in the workforce. The market’s expansion is underpinned by shifting consumer preferences, evolving lifestyles, and the rising influence of financially independent women on purchasing decisions, including undergarments.

In 2023, the lingerie market was valued at $46.87 billion and is forecasted to exhibit a compounded annual growth rate (CAGR) of 7.8% from 2024 to 2030, reaching the projected $79.30 billion mark. Notably, the United States accounted for a significant portion of this market, with an estimated size of $14.2 billion in 2023. The industry’s remarkable growth can be attributed to the increasing presence of women in the workforce, granting them more autonomy in their purchasing choices, even in the realm of lingerie.

The demand for a diverse range of lingerie styles, from seamless bras to fashion-forward designs, has surged in response to the busy and socially active lifestyles of modern consumers. Furthermore, women’s growing self-assurance and their desire for self-expression through lingerie have fueled this trend. The convergence of comfort, style, and functionality in the lingerie sector mirrors the preferences of fashion-savvy women who are increasingly discerning in their lingerie selections, aided by easy access to fashion trends via social media platforms.

The market segmentation reveals that bras dominated the lingerie market in 2023, with a particular emphasis on designs that provide support, comfort, and style. Technological advancements, such as seamless and wireless bra options, have met the escalating demand for both comfort and fashion. The distribution channel analysis indicates a rapid growth in online lingerie sales, with e-commerce platforms capturing a significant market share in 2023. E-commerce giants like Amazon have played a crucial role in making lingerie more accessible to a global audience, offering a wide array of styles and discreet delivery options.

Regionally, Europe has witnessed a surge in demand for upscale lingerie products, driven by a preference for luxury goods, especially in countries like France, Italy, and the UK. The United States remains a key player in the lingerie market, owing to the high demand for standard and luxury lingerie brands. In contrast, the Asia-Pacific region, led by China and India, commands the global lingerie market, supported by the rising number of working women, increased disposable income, and the growing acceptance of e-commerce platforms.

Key players in the lingerie market, such as Victoria’s Secret, H&M, and Zivame, have made strategic moves to enhance their market positions. Victoria’s Secret, for instance, has committed to sustainability by reducing carbon emissions and incorporating recycled materials in its lingerie designs. H&M, on the other hand, has introduced a new line of inclusive underwear that prioritizes comfort and caters to diverse body shapes. In India, Zivame has expanded its market presence by opening 50 additional outlets across the country.

In conclusion, the lingerie market’s upward trajectory can be attributed to the increasing employment of women, their financial independence, and evolving fashion preferences that prioritize comfort and individuality. Technological innovations in bra design, the convenience of online shopping, and the global expansion of lingerie brands have collectively contributed to the market’s growth. This industry’s future looks promising, with continued innovation and a focus on meeting the diverse needs of consumers driving its evolution.