Global Intimate Apparel Market - Drivers and Forecasts by Technavio

Technavio has published a new report on the global intimate apparel market from 2017-2021. (Graphic: Business Wire)

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LONDON--()--Technavio analysts forecast the global intimate apparel market to grow at a CAGR of more than 4% during the forecast period, according to their latest report.

The research study covers the present scenario and growth prospects of the global intimate apparel market for 2017-2021. The market is segmented on the product (upper innerwear, lower innerwear, and shapewear), end-user (women’s intimate apparel and men’s intimate apparel), and distribution channel (specialty stores, hypermarkets and supermarkets, department stores, and online retails). The market is further segmented based on geography, including the Americas, EMEA, and APAC.

The global intimate apparel market is expected to grow at a steady rate during the forecast period. Consumers are demanding products that are both fashionable and comfortable. The increase in customization of bras is an important driver for the market. The recovery from the recession in 2009 and the rise in demand from emerging economies, especially China, are some other drivers for the market. The vendors are marketing their products to different consumer segments. The leading intimate apparel vendors face tough competition from the designer lingerie outlets, local vendors, and private labels. The intense competition and price wars have adversely affected the profit margins of vendors.

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Technavio consumer and retail research analysts highlight the following three factors that are contributing to the growth of the global intimate apparel market:

  • More emphasis on customization of bras to increase consumer base
  • Greater demand for plus sizes
  • Economic recovery from recession

More emphasis on customization of bras to increase consumer base

Intimate apparel is now not only an essential product but also a fashion apparel. Most of the key manufacturers add new collections regularly to attract more consumers. Intimate apparel is available in multiple colors, patterns, and designs because consumers, especially teenagers, prefer matching their daily clothes with complementary lingerie.

Brijesh Choubey, a lead apparel and textile research analyst at Technavio, says, “Manufacturers are focused on designing products that are consumer-oriented and based on their specific needs. For example, they are manufacturing laser-cut seamless bras, molded t-shirt bras, and strapless bras because these are in high demand among fashion-conscious consumers.

Greater demand for plus sizes

Obese women generally have bigger busts and prefer wearing bras that minimize their size. This has increased the sales of minimizer bras and other products such as shapewear, which provide a foundation for other clothes. New-age shapewear is pleasant to wear and does not leave any pressure marks on the body.

The US is the largest market for intimate apparel, and the demand for plus size intimate apparel is high as 34.9% of the population, comprising all age groups, is obese. This has resulted in increased demand for plus size intimate apparel, especially lingerie and shapewear,” adds Brijesh.

Economic recovery from recession

The recovery of the economy has led to a decrease in the unemployment rate, an increase in income, and improvement in consumer confidence. During the recession, the frequency of consumers buying intimate apparel had decreased, and they preferred buying low-priced intimate apparel in bulk. Since then, the intimate apparel market has witnessed intense growth because of increased consumer spending. Consumers are now willing to spend extra on more comfortable, trendy, and fashionable intimate apparel.

Top vendors:

  • AEO Management
  • Fruit of the Loom
  • Hanesbrands
  • Jockey International
  • L Brands
  • PVH

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

If you are interested in more information, please contact our media team at media@technavio.com.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

Technavio analysts forecast the global intimate apparel market to grow at a CAGR of more than 4% during the forecast period, according to their latest report.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com