Growing at a CAGR of 7.09 per cent, the global intimate apparel market is projected to reach a value of $49.8 billion by 2028.
As per a report by Technavio, growth in this market is being driven by a rising demand for customisationwith customers, especially women, seekingpersonalised and visually appealing products. This trend aligns with the rise of athleisure, enhancing consumer satisfaction by meeting individual preferences and sizes. However, intense competition due to low entry barriers poses challenges. Major players like Victoria's Secret, Hanesbrands, and Chantelle SA continue to innovate to stay relevant.
Evolving from a necessity to a fashionable category, intimate apparel is expanding its offerings to include versatile innerwear. Sports bras have gained popularity for their comfort, functionality, and fashion appeal. Manufacturers are responding to demand for better performance with innovative fabrics and designs. For instance, Chantelleoffers high-impact sports bras for various activities. Strategic partnerships, especially with yoga apparel specialists, are also on the rise. The market thrives on aesthetic value and fabric behavior, with innovations in yarns and treatment processes. Online sales are growing, especially among women who value convenience. However, counterfeit products remain a challenge, and brick-and-mortar stores provide authenticity and expertise.
The market is competitive, with players like AEO Management, Berkshire Hathaway, Hanesbrands, Jockey International, PVH, and L Brands. New entrants, including e-retailers and start-ups like adoreme.com, intensify competition, leading to price wars. To differentiate, key players are focusing on comfort, fabric quality, price, and variety. Price wars can lead to compromised quality, affecting consumer satisfaction. The market includes various items like undershirts, vests, lingerie, thermals, hosiery, sleep lingerie, bras, and panties for both men and women.
Seasonal swings, retail stocks, and the demand for comfortable, high-quality undergarments among working women are some of the significant challenges being faced by the industry. Comfort remains crucial, with briefs, bras, and boxers leading the segment. Bust-sized bras, medical fabrics, and outer garments add thermal, sensorial, and motion benefits. Men's intimate apparel includes vests, boxer shorts, and briefs. To succeed in this market, manufacturers need to adapt to the changing consumer preferences and seasonal demands.
