Luxury Lingerie Market Overview

Luxury Lingerie Market size is expected to grow from USD 12.68 billion in 2023 to USD 27.29 billion by 2032, at a CAGR of 8.89% during the forecast period (2024-2032).

Luxury lingerie is fashionable and highly alluring undergarments. Luxury lingerie includes products such as bras, knickers and panties, bodysuits, corsets, camisoles, and many other products. They are prepared by using flexible, sheer, stretchy, or decorative materials such as Lycra, silk, polyester, nylon (nylon tricot), satin, lace, and sheer fabric. Certain cotton or synthetic undergarments are also used to design luxury lingerie. Such beautifully designed and attractive innerwear has a positive impact on women's minds and bodies. Luxury lingerie can make a woman feel inspired to dress on the outside as well. They are effectively increasing the confidence and self-esteem of women wearing them. When worn, some of the luxury lingerie, such as brassieres and G-strings, seems tight and serves to enhance the contour of the body. The surging demand of women for products such as shapewear and bras to assist and maintain a favorable appearance, and increase the aesthetic attractiveness of the body is projected to cushion the luxury lingerie market during the forecast period. Additionally, the growing exposure to social gatherings among working women also contributes to boosting the demand for products like shapewear,  seamless panties, bralettes, and pushup bras in the lingerie industry.

Market Dynamics And Factors For Luxury Lingerie Market

Drivers:

An Upsurge in Working Women Population and Preference for Fashionable Apparels

The increasing working-women population has thoroughly improved consumers' per capita disposable income, which has further influenced spending behavior. As the women population is inclined more toward being independent, there has been observed a surge in them to live a standard lifestyle. Also, the working women population has interestingly become more conscious about their cleanliness, looks, and level of life, thus gravitating toward more comfortable and luxurious lingerie products. There has been a rapid growth in the sales of luxury lingerie around the globe as women's purchasing power has widely increased. Improvements in women's modern lifestyles are thus estimated to increase luxury lingerie sales during the forecast period. Moreover, the rising health consciousness and their preference for physical workout activities have led to an increased sale of sports bras and workout undergarments.

The fast development of information technology as well as globalization is leading the entire world by providing information about the latest and trending products available in the market. On account of this, major shoppers associated with the luxury lingerie market are showcasing the latest global fashion trends through various platforms including social media sites. Owing to this, a majority of the women population becomes aware of the fashion trends and purchases luxury lingeries to contour their physical appearance. The market growth is also driven by the millennials and the generation Z population owing to the comfort, and premium feels offered by luxury lingerie. The working women population contributes with a major part as wearing those beneath them outwear makes them feel confident and comfortable. Branded apparel companies are also focused on introducing innovative lingerie items as per the changing fashion trend and consumer demands. Henceforth, such factors are estimated to have a positive impact on the luxury lingerie market in the projected timeframe.

Restraints:

Economical Alternatives Hamper the Market Growth

The luxury lingerie market is extremely fragmented with a significant number of players. In terms of high quality, pricing, innovative designs, and supply chain, the manufacturers are intensely competitive. However, the predominance of the unorganized sector is a major obstacle that negatively impacts the growth of the luxury lingerie market. Local suppliers present in the market are significantly restricting the sales of the key market players, owing to their quick availability, lesser and cheaper prices, and simplicity of customization. A large portion of the women population is price sensitive, particularly in emerging nations, making it difficult for the leading companies to build dominance over the unorganized sector. Further, as manufacturers and SMEs break out of their conventional roles and sell luxury lingeries directly to global customers, well-established fashion brands and retailers would confront the growing competition from new entrants across the globe. Selling products similar to luxury lingerie at relatively lower prices are thereby estimated to hamper the market growth.

Opportunity:

Social Media Influence and Introduction of Innovative Products

Social media offers a potential growth opportunity for product launches and branding to bridge the gap between consumers & marketers. The wide adoption of social media trends by the women population has transformed the business environment, generating profitable opportunities for key manufacturers. The social media influencers create and post blogs on social networking sites such as Instagram, Twitter, Facebook, and YouTube that boost luxury lingerie sales worldwide. Manufacturers also use social media sites for promoting their brand and build relationships with their key customers by offering exclusive offers. Additionally, the rapid rise in social media videos and posts that target clothing style, fashion, and intimate wear offers a new opportunity for the luxury lingerie market to grow at pace.

Social media also plays a vital role in boosting the demand for luxury lingerie among the millennial population due to their desire among them to be part of the ongoing trend and showcase a luxurious lifestyle. It also made room for small and indie brands to build their strong communities on the platform, and thus with the continuous growth of social media sites, the luxury lingerie market is estimated to witness a huge demand. Furthermore, with this ongoing influence of blogs and videos on social media, the key manufacturers continuously bring innovative products that can entice a large audience. The big giants working in the market also invest in the R&D sector for understanding the needs of the young generation, adults, sportswomen as well as working women, and design the lingerie products accordingly. Henceforth, the key innovations by manufacturers and social media influence all together will offer new opportunities for the luxury lingerie market.

Segmentation Analysis Of Luxury Lingerie Market

By Type, the Bra segment holds the major share of the luxury lingerie market worldwide. Bras are significant in allowing the wearer to express their personality, as they contribute to the final breast shape. They also help contour visibility through outer clothing that constructs a social identity. Many women may lose their youthful appearance post-pregnancy, during aging, or while going through menopause, and thus bras allow their breasts to look firm, natural, and round. Bras help improve posture and prevent spine problems, back pain, and overall attire, which results in the huge growth of this segment. Moreover, women with plus-size breasts may face social anxieties, lower comfort levels, and difficulty in their self-esteem. Therefore, many brands such as Victoria’s Secret, Triumph, Berlei, and Bonds offer a wide range of bras with comfort, support, and fit which leads to overall market growth.

By Distribution Channel, the online segment accounted for the rapid growth of the luxury lingerie market all across the world. The E-commerce sector has been a boon for the growth of this segment. Considering the awkwardness most women feel while purchasing luxury lingerie from a retail store, coupled with the presence of salesmen, the online distribution channel proves to be a much better way to buy these products. Online channels offer the customers to shop from their comfort zone and allow them to browse through various styles and designs, which results in the high growth of this segment. Also, the product discounts, and easy returns and exchange policies, a wide number of populations are studied to purchase luxury lingeries from the online websites of the key manufacturers. Further, to reach a larger audience, key companies such as Journelle, Cosabella, Aerie, Adore Me, and Thirdlove is working along with the online retailers and is planning to make their product available on portals such as Myntra, Amazon, Nykaa, Elitify, Ajio, Shyaway, and many more.

Regional Analysis Of Luxury Lingerie Market

North America dominates the luxury lingerie market owing to the growing fashion trends, high disposable incomes, high demand for premium and luxury brands, as well as the presence of prominent players in this region. The expanding luxury lingerie product portfolio of key companies in this region is one of the most remarkable growth factors cushioning the market. Major manufacturers of luxury lingerie have interestingly increased their focus on designing high-quality and premium products for each shape and size. High preference for premium lingerie has also contributed to the increased growth of the regional market. Further, along with the huge penetration of online and offline distribution channels for these products, as well as the availability of a wide range of product portfolios, the North American region is witnessing rapid growth.

The region has a huge competitive luxury lingerie market with numerous brands offering a large variety of products at a competitive price. Along with the wide range of product availability in the retail stores, the key manufacturers have also expanded their distribution through online channels, which have resulted in alluring more customers, and further boosting the regional growth. Consumers opt for online channels rather than store-based channels because of discounted price rates and feasible distribution. According to the US Department of Commerce, the e-commerce sector accounted for USD 196.66 Billion in quarter one of 2021, which is more than 39% of the same quarter of 2020. Further, the continuous innovations in the products concerning the consumer demand for premium and comfortable products are anticipated to bolster the luxury lingerie market growth in North America.

Asia-Pacific is the fastest-growing region for the luxury lingerie market due to the huge presence of end-users in this region, changing consumer preferences, increasing popularity of the e-commerce sector, and rising disposable incomes. Also, the rapid rise in the number of women participating in fitness-related activities such as gyms, marathons, and other sports is anticipated to increase the demand for the sports bra, thus promoting the luxury lingerie market growth. China is considered a major market for luxury lingerie as it exports lingeries on a large scale to the UK, Germany, Us, and many other countries. Moreover, the lower labor and raw material costs, and availability of large manufacturing facilities boost the luxury lingerie market in China. The increasing adoption of western culture & lifestyle and growing demand from working women are estimated to drive the luxury lingerie market in the upcoming years.

Additionally, luxury lingerie designers and brands like Victoria’s Secret, Berrymelon, La Perla, Agent Provocateur, and others, have been attracting the women population by using luxurious fabrics, lace, embroidery, etc. in their lingerie, which is further studied to increase the demand over the forecasted period. Lingerie manufacturers are also bringing innovations to their products by adding body-inclusive, gender-fluid, and vegan variants, especially for sustainability-conscious consumers. For instance, Brisbane’s NICO Underwear provides undergarments that are ethically made in India, Australia, and Bangladesh by using sustainable and soft fabrics, including "LenzingModal", recycled nylon, and recycled cotton for the necessary stretch. Henceforth, owing to the rising demand along the millennials and women population, and the presence of significant brands, the Asia Pacific region for the luxury lingerie market is expected to grow rapidly.

Covid-19 Impact Analysis On Luxury Lingerie Market

Covid-19 had adverse effects on the economies and industries in various countries due to the imposed lockdowns, business shutdowns, and travel bans. The fashion and apparel industry worldwide faced serious disruptions such as office shutdowns, supply chain breaks, the shutdown of malls, retail stores or brand stores, shops, etc. With most of the retail outlets closed, the growth of the luxury lingerie market in the physical outlets was stunted. However, there was a high demand in the e-commerce sector for work-from-home comfort outfits as well as zero-feel products during the pandemic period. The sales of non-wired bras and bralettes increased, and the purchase of luxury lingerie underwent a drastic change amid the pandemic. Moreover, the social media trends and increasing efforts by influencers helped the women population understand the importance of self-hygiene and the benefits of good quality lingerie. During the pre-pandemic era, women chose to buy lingerie from physical stores where they could touch, see, and try those products. However, due to the Covid-19 outbreak, customers were forced to stay indoors, which resulted in to shift in their purchasing behavior. Later in the pandemic, more and more sales of luxury lingerie were increased through the online platform owing to the millions of women working from home. With the growing fashion trends, the luxury lingerie market is estimated to grow at a pace post-pandemic era.

Top Key Players Covered In Luxury Lingerie Market

• Victoria's Secret
• LaSenza
• Maniform
• Fruit of the Loom
• Agent Provocateur
• Honey Birdette
• La Perla
• Fleur du Mal
• Coco de Mer
• Cosabella
• Jockey
• Savage & Fenty
• MarieMur
• Third Love
• Adore Me
• Enamor
• Calvin Klein
• Lounge Lingerie, and other major players.

Key Industry Development In The Luxury Lingerie Market

• In March 2024, Hanesbrands Inc. launched Hanes Original with SuperSoft fabrics featuring a collection of body basics in modern styles, soft fabrics, and luxurious colors. The range includes high-quality bras for women, available on the company's website, Hanes retail stores, and authorized retailers, including Amazon, Target, Walmart, and Kohl's.
• In March 2024, Wacoal launched its new Comfortable Cool Underwire Bra to cater to women experiencing menopausal symptoms that come with cooling capabilities, moisture-wicking fabric, and endless support.
• In June 2023, Victoria’s Secret and Amazon Fashion collaborated to improve the shopping experience for customers. The collaboration will include over 4,000 Victoria's Secret and PINK fashion items, including panties, bras, swimwear, loungewear, and sleepwear. Particular bra and apparel styles will also be available on Amazon Prime’s Try Before You Buy program.