The global underwear market size is expected to reach USD 149.13 Billion in 2030 and register a revenue CAGR of 7.4% over the forecast period, according to the latest report by Reports and Data. Rising consciousness along with importance of maintaining genital hygiene is a major factor driving market revenue growth.
In addition, growing urbanization, rising disposable income, and rising purchasing power are expected to drive market revenue growth. Moreover, rising hygiene consciousness among both men and women, need for protecting against infection, and comfort when sleeping and relaxing are also driving revenue of the market. Local governments in several countries enforced movement restrictions during COVID-19 and global lockdown situation, which further hampered international sporting events, public gatherings, and exhibitions. Individuals were more likely to stay at home and chose to remain indoors as a precaution. According to a report, office-going individuals used to spend 5% of their total working time at home, however, during COVID-19, it has increased to 60%, which is resulting in increased demand for loungewear and comfortable underwear among individuals, in turn, driving market revenue growth.
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Some Key Highlights From the Report
- On 16 August 2022, Victoria’s Secret introduced Elomi, an inclusive and fashionable lingerie line, as its newest brand partner, in its curated digital platform, VS&Co-Lab. Elomi is the newest addition to VS&Co-Lab community of creative businesses, offering a distinctive collection of items created to enhance every element of a woman’s body with unwavering support and unmatched comfort.
- The cotton segment accounted for largest revenue share in 2021. Customers favor cotton-based products owing to their lightweight, softness, and breathability. In addition, it offers excellent absorption, comfort, and moisture resistance. Underwear made of cotton is in more demand due to its durability, affordability, and ability to tolerate bleach, heat, and detergent. This organic, all-natural product has no negative skin effects, which is expected to drive revenue growth of this segment.
- The women segment accounted for largest revenue share in 2021. Women typically wear brassieres, shapewear, panties, and knickers. In the women’s underwear market, brassiere has the largest market share. Manufacturers have been able to maintain market dominance with ground-breaking products owing to ongoing technological advancements and availability of numerous comfortable textiles. A disproportionately large portion of the market is made up of underwear with varied textures and designs that are available, which is expected to drive revenue growth of this segment.
- The online segment is expected to register a steady revenue growth rate during the forecast period. Leading underwear makers from around the world are developing their own websites and online marketplaces to make shopping more convenient. In addition, as a result of COVID-19 pandemic, consumers are moving away from offline platforms and toward online platforms. In addition, women feel more at ease buying underwear from online shopping sites, and these sites have improved the shopping experience for an increasing number of working women owing to their open 24/7 availability. Moreover, discounts, promotions, coupons, simplicity of home delivery, and online interaction are driving revenue growth of this segment.
- The Europe market accounted for largest revenue share in 2021. Presence of leading players in this region along with rising demand for various patterns, designs, and fabrics, in turn, is increasing demand of underwear for both men and women. Also, according to a survey in Germany, around 25.5% of the women respondents claimed to spend around 30 to 54 euros for underwear, which is expected to drive market revenue growth in this region. On 12 January 2022, Attindas Hygiene Partners announced to launch adult incontinence protective underwear that reduces carbon emission and other greenhouse gas emission for less impacting the environment. These products utilize new product design that further uses ultrasonic bonding as an alternative of glue adhesive in products
- Companies profiled in the global market report include PVH Corp., Hanesbrands Inc., Jockey, Hugo Boss, Ralph Lauren, Pei Operating, LLC, Louis Vuitton, Calvin Klein, Nika Group, and H&M Group.
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For the purpose of this report, Reports and Data has segmented the underwear market based on material type, application, distribution channel, and region:
Material Type Outlook (Revenue, USD Billion; 2019 – 2030)
Application Outlook (Revenue, USD Billion; 2019 – 2030)
Distribution Channel Outlook (Revenue, USD Billion; 2019 – 2030)
Regional Outlook (Revenue, USD Billion; 2019 – 2030)
- North America
- Rest of Europe
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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