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Global lingerie market to reach USD 55 bn by 2024

The demand for lingerie is increasing and it is expected to generate revenue from lingerie around $55 billion by end of 2024.

Desk Report

Lingerie is a category of women’s clothing including at least undergarments (mainly brassieres), sleepwear and lightweight robes. According to Transparency Market Research, the global lingerie market was valued at approximately $33 billion in 2015 and is expected to generate revenue of around $55 billion by end of 2024.

Global lingerie market to reach USD 55 bn by 2024
Figure: Global lingerie market expected to reach $55 billion by 2024. Courtesy: H&M

A top official from Bodyline, an apparel manufacturer engaged in product design, development, execution, and marketing to global brands, said that the demand for lingerie is increasing every year. Lingerie has always been an important part of fashion.

The outerwear of women has undergone a dramatic change and due to this, women prefer selecting innerwear, especially bras that can match with their attire. Females in the developing countries are experiencing the latest trends towards carrying themselves in public. They are changing their outlook towards accepting innerwear as a casual affair and take time to choose and make a purchase. They try to purchase lingerie depending on the occasion or event, such as there are special sport wear bras for gymnasium purpose.

“Intimate products were used as an essential innerwear by women in the past, but now they are more of an outerwear item that incorporates more aesthetic designs and fashion. Online marketers like Amazon, Zalando, Asos, and other e-commerce brands are focusing on lingerie and that will improve the global demand through social media,” said Dilshan Mohamed, Director-supply chain management, Bodyline Pvt. Ltd.

Most of the large brands have exclusive stores in shopping malls or independent stores. In developing countries like India and China, brands like Jockey are trying to reach out to customers through small roadside innerwear shops.

Dilshan also added that the increase in the online ordering of clothing can be attributed to factors like accurate measurement tables, attractive return policies, and cheaper options.

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