Rising trend of online shopping across the globe is expected to create lucrative opportunities in the lingerie market in the near future. Considering this factor, several players in the market for lingerie are increasing concentration on increasing the availability of their products on e-commerce platforms. These efforts are likely to help the global lingerie market to expand at a CAGR of 8.5% during the forecast period 2021-2031 and gain a valuation of over US$ 93.1 Bn by 2031.
Improved Disposable Income of People Plays Key Role in Boosting Sales of Lingerie
The disposable incomes of people from several developing and developed nation has been improved. Moreover, the demand for sportswear, loungewear, and swimwear is being increasing in the recent few years. These factors are fueling the sales growth in the global lingerie market.
Lingerie are manufactured using varied types of materials such as satin/synthetic silk, cotton, polyester, woolen, velvet, and blended materials. Companies providing these products are comping up with innovative range for male as well as female customers. These products are available in low, medium, and high range of categories.
Players Increase R&D to Launch Innovative Products
Companies in the global lingerie market are indulging in various strategies such as mergers and acquisitions in order to maintain their leading position. Moreover, several enterprises are increasing focus on R&Ds in order to launch innovative products. Such innovations are expected to help in the expansion of the global in the global lingerie market in the years ahead. Some of the key players operating in the global lingerie market include Zivame, Amante, Calvin Klein, Jockey, and Victoria’s Secret.
North America Market Observes Sizable Growth Prospects
The lingerie market shows presence in many geographies such as North America, Europe, Asia Pacific, South America, and Middle East and Africa. Among all regions, North America is leading region showing prominent growth opportunities owing to growing focus of market enterprises on development of products using advanced technologies. Moreover, players in the North America lingerie market are increasing focus on marketing campaigns in order to spread awareness on their products.
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