Lingerie Market Size to be USD48510 Million By 2028 – Asia-Pacific is The Most Lucrative
28 February 2022: Global Lingerie market size is estimated to be worth USD 28610 million in 2022 and is forecast to be a readjusted size of USD 48510 million by 2028 with a CAGR of 9.2% during the review period.
The Lingerie market is growing because of the growing number of working women. The rise in consumer income, combined with an increase in discretionary spending on fashionable clothing, has resulted in an increase in lingerie demand. In the coming years, market growth is expected to be boosted by the penetration of online channels and the strong influence of social media and marketing strategies.
In addition, product innovation in the apparel industry is expected to contribute to the growth of the lingerie market. The lingerie market’s growth is being aided by the expansion of the organized retail sector in Asia-Pacific.
Consumer spending behavior has changed as a result of the growing working women population, and an increase in per capita disposable income. Furthermore, due to increased awareness of hygiene, appearance, and living standards, consumers are increasingly opting for comfortable and functional lingerie. These factors are expected to drive the growth of the Lingerie market during the forecast period. Lingerie sales have been increasing at a rapid rate around the world due to the growing population of working women. The sale of luxury lingerie is increasing in tandem with women’s growing purchasing power.
A specialty store is most preferred as it provides the necessary discretion and offers a considerable variety to choose from. Several retailers use visual merchandising as a marketing strategy to attract more customers. The use of colorful backgrounds in retail stores, as well as the use of mannequins to display products, attracts more customers.
Based on region, Asia-pacific is the most lucrative. In the Asia Pacific region, a shift in consumer attitudes toward various types of lingerie presents an opportunity. Furthermore, low-cost products exported from countries such as China and Turkey pose a significant threat to European brands.