Intimate wear are undergarments for men and women. Intimate wear are usually appealing undergarments compared to the regular ones. Change in perception of intimate wear from a basic necessity has changed the outlook of people in the last few years.The major factor which is driving the growth of the global intimate wear market is rapidly developing economies with a large number of wealthy buyers present in the developing countries.
Furthermore, various factors such as continuous change in lifestyle patterns, increase in disposable income, increasing urbanization and modernization, and developments in the fashion industry, specifically in apparels, are driving the growth of the global intimate wear market. Increasing number of individuals are opting for luxury weddings in developing countries such as India and China. This is another factor boosting the intimate wear market. Individuals nowadays demand designer patterns and a variety of products in the intimate wear market. Furthermore, there is a rise in awareness among customers about the importance of intimate wear to provide support to body parts and to keep the body in shape.
All the above mentioned factors are expected to contribute to the growth of the intimate wear market during the forecast period. Untapped opportunities in developing countries such as India in the shape wear and swim wear product segment is anticipated to exhibit good growth potential during the forecast period. This is because customers have moved from the concept of just owning basic lingerie such as bra and panty to occasional wear such as swimwear, beachwear, and shape wear.
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The global intimate wear market can be segmented based on gender, age group, price, distribution channel, and geography. On the basis of gender, the global intimate wear market can be divided into men and women. Women intimate wear segment is again sub segmented into lingerie, shape wear, sleep wear, sportswear, swim wear, and maternity wear.
Men intimate wear is sub segmented into vests, briefs, regular briefs, boxer briefs, boxer shorts, trunks briefs, and others. Based on age group, the global intimate wear market can be classified into 13?17 years, 18?35 years, and 36 years & above. On the basis of price, the market is divided into luxury, super-premium, premium, medium, economy, and low. In term of distribution channel, the market can be bifurcated into online and offline.
In terms of geography, the global intimate wear market can be split into North America (U.S., Canada, Mexico, and Rest of North America), Europe (U.K., Germany, France, Italy, and Rest of Europe), Middle East & Africa (GCC, South Africa, and Rest of Middle East & Africa), Asia Pacific (India, China, Japan, and Rest of APAC), and South America (Brazil, and Rest of South America). North America and Europe regions are anticipated to be highly attractive for the intimate wear market during the forecast period. Furthermore, Asia Pacific is expected to provide good growth opportunities to the intimate wear market, due to rise in disposable income of individuals in countries such as China and India and in other Southeast Asian countries.
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Major players operating in the intimate wear market include Hanes Brands Inc., L Brand Inc., Berkshire Hathaway Inc., Jockey International Inc., American Eagle Outfitters (Aerie), MAS Holdings, Triumph International Ltd., Ann Summers, Hanky Panky Ltd., PVH Corporation, Marks and Spencer, LVMH, and Chantelle Group. There is intense competition between established players and also due to the presence of small players. Various strategies adopted by players include competitive pricing, product innovation, and launch of stylish products.
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