LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global maternity intimate wear market to grow at a CAGR of more than 3% during the forecast period, according to their latest report.
The market study covers the present scenario and growth prospects of the global maternity intimate wear market for 2017-2021. The report segments the market by product and distribution channels. More than nine-tenths of the global maternity intimate wear market was controlled by the offline distribution channel in 2016, which is expected to change during the forecast period with the presence of the online distribution channel to increase to around 12% by 2021.
According to Poonam Saini, a lead analyst at Technavio for apparel and textile research, “Product line extensions through technology-enabled innovations will lead to the growth of the market. Consumers not only seek stylish and comfortable maternity intimate wear but also look for more innovative garments like postpartum belts and postpartum shapewear.”
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Technavio consumer and retail analysts highlight the following three market drivers that are contributing to the growth of the global maternity intimate wear market:
- Expanding new markets
- Achieving growth through online retailing
- Premiumization, brand positioning, and targeting the growing aspirational consumer segment
Expanding new markets
The rising demand for maternity intimate wear from developing countries such as India and China is one of the key drivers for the global maternity intimate wear market. Factors such as high birth rates and the growing popularity of e-retailing have a positive impact on the growth of the maternity intimate wear marketspace in India.
Some examples of leading vendors that offer maternity intimate wear in India are Triumph International, Lovable, and Bodycare International. With increasing consumer awareness of the importance of using the correct type of maternity lingerie as per body size and need, vendors operating in India are now focusing more on less specialized segments such as shapewear.
Achieving growth through online retailing
The growth in online sales of maternity wear and maternity intimate wear is likely to fuel the growth of the market in the coming years. Premium brands are now making their products available on various online shopping portals. With the increase in smartphone and internet penetration, people have started spending more time online. Most consumers prefer to compare different types of products before making a purchase. As online platforms provide the scope for product comparison, many consumers have now started preferring online shopping. This factor, coupled with the convenience and price discounts is propelling the growth of e-retailing.
“Digitalization of brands and products is driving the growth of the market as almost every established brand has its own website, through which it can directly approach consumers. With no middleman or third parties involved, brands can provide their products at discounted rates, which augurs well for the growth of the online channel,” says Poonam.
Premiumization, brand positioning, and targeting the growing aspirational consumer segment
Many global manufacturers operating in this marketspace offer premium products to cater to the affluent consumer segment. For instance, nursing bras offered by Hanesbrands such as Playtex Nursing Seamless Wirefree Bra with Shaping Foam Cups, Playtex Nursing Seamless Wirefree Bra with X-Temp Cooling Technology, and Playtex Nursing Camisole with Built-In Foam Bra & X-Temp Cooling Technology are targeted at the affluent consumer segment. This premiumization strategy is helping vendors to strengthen their brand positioning.
In addition, the growing upper-middle class population segment represents the aspirational consumer segment for this product category. Offerings from Cake Maternity such as Croissant Smoothing Flexi Wire Spacer Bra, Waffles 3d Spacer Contour Nursing Bra, and Zest Flexi Wire High Impact Sports Bra are targeted at the aspirational consumer segment.
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