Intimate wear market shapes up well as it emerges from the background

India’s intimate wear market has seen good growth with changing mindsets and consumers’ willingness to spend on fancy products. Online retail has also triggered market growth especially in the Covid years. Global and local brands are now competing with each other for bigger market share

The global innerwear market is now taking on a whole new look with the expansion of online retail, rising disposable incomes especially among women and an extensive variety and colors focusing on making both men and women look and feel good on the inside and outside. With a vast product portfolio of undergarments, sleepwear, light wear robes in various categories of sports, athleisure, bridal wear, party wear and regular wear, the global intimate market has come into its own in the last few years.

• Intimate wear segment has now emerged from the side lines on to its own

• Growth triggered by awareness, higher disposable incomes, need to be in style

• Brassiere segment expected to corner largest market share in coming years

• Millennials and GenZ are now spending on premium brands

• Both local and global brands are competing in India for market share

• Online brands have upped the competition and helped change the market

The global lingerie market was valued at around $43.2 billion in 2020 growing at a CAGR of 8.25 per cent to touch $84.16 billion by 2028, reveals ‘Lingerie market size, share and growth analysis report’ by US-based Facts & Factor, a national data collection provider for global qualitative and quantitative research.

Categorized in three primary segments based on type, distribution channel, and region, local brands are upping their style to compete with global ones. The women’s segment is broadly categorized into: brassiere, knickers and shapewear. Among these, the brassiere segment is expected to corner the largest market share in the next few years due to the versatility of fabrics, shape and sophisticated technology. The men’s innerwear category is focusing on innovation and sustainability with a never-before specialized range of products and designs.

Global intimate wear on fast growth curve

The global lingerie market was valued at around $43.2 billion in 2020 growing at a CAGR of 8.25 per cent to touch $84.16 billion by 2028, reveals ‘Lingerie market size, share and growth analysis report’ by US-based Facts & Factor, a national data collection provider for global qualitative and quantitative research.

In the eight years forecast period from 202128, the global lingerie market will be further driven by rising influence of social media and smart marketing strategies of all mid-size and premium brands catering to various budgets. Some key insights from this report shows, the lingerie market will grow mainly due to increasing spending power among women and the introduction of high-tech machinery in manufacturing and finishing processes.

The brassiere segment will be the frontrunner with the largest market share. On a regional basis, Europe is expected to have the largest market share because of higher presence of prominent players along with growing demand for premium and luxury brands in the region in post-Covid years. Higher number of limited edition products by premium brands will help further increase the delicate footprint of intimate wear industry during the current forecast period. Asia-Pacific region is also expected to have the fastest CAGR owing to more aspirational lifestyles and increasing disposable income among the younger generation.

Key premium global players such as Jockey International, Victoria’s Secret, Zivame, GAP, Hanesbrands, Triumph International, Bare Necessities, Calvin Klein, MAS Holdings, L Brands, AEO Management, M&S and others are currently focusing on innovative portfolios in a lucrative post-Covid market.

Social media transforms India’s innerwear market

The Indian innerwear market has also undergone transformation with social media influenced socio-cultural factors and sophisticated manufacturing technologies. Valued at around $3 billion in 2017 it is expected to grow at a CAGR of around 14 per cent to reach $6.5 billion by 2023. This is mainly because local small brands in the unorganized sector are rapidly moving towards the organized segment with all added benefits.

Millennials and GenZ are now spending on premium brands of fashion underwear that besides being worn in the bedroom, also often also play peek-a-boo from streetwear clothes. The trend now is to change innerwear every six months on average and have different sets for different occasions for women.

Keeping these growth drivers in mind, Kolkata, Ludhiana and Thirupur are now established hubs of innerwear manufacturing with many players, especially in the men’s innerwear segment.

Some of Kolkata’s giant manufacturers and mass brands which include Dollar, Lux and Rupa among others are always adding new seasonal products. In Thirupur, the focus is on innovative raw materials, newer prints and design-oriented innerwear and new players such as Faso, Carnation Creations, Cruso, Tailor and Circus have entered the market.

As per Akhil Srivastava, Managing Director, Parfait India, the lingerie market has come a long way from being considered an apparel sub-category in the earlier days. With rise in the purchasing power, there has been a subsequent rise in demand for braletts, activewear, resort wear and daily intimate wear, opines.

With diverse population and different kinds of demand across geographical regions of the country, all lingerie brands keep diversity at the core of their offerings rather than only following trending catwalk styles. Consumers opt for comfort-first clothing that is both stylish and fit well and look for a product portfolio of varied styles and colors to go with both Indian and western outfits.

As Amisha Jain, CEO, Zivame, online retailer of high-quality lingerie points out, “Taking cue from a woman’s evolving needs, we developed several products to deliver on our promise of quality, comfort and fit. Increasing number of people are opting for comfort over style but at Zivame, we don’t believe in choosing one over the other as comfort is a necessity and all lingerie must be comfortable. Innovation is at the core of everything we do and we are constantly working on areas of construction (uni-cup with flexible underwire, supersoft Marshmallow Cups) to make products that give a unique, stylish and comfortable consumer experience.

Trending women’s innerwear

Animal prints have recorded impressive growth at the mass as well as luxury levels and the same style is now prevalent in all intimate wear categories such as casualwear, street style, eveningwear, jackets and coats or accessories. However, it’s the little variations of common animal prints that is making the difference and snakeskin and leopard skin designs are leading this design brigade. Adaptation of new technologies, stitching methods, fabrics, designs and functionalities is making all the difference in women’s bras, panties and nightwear.