Recent industry research has indicated that the global lingerie market, fuelled by the rise in the ‘HER Economy’ will reach $59.15 billion by 2024. The sector, in 2018, saw an ushered in era of functionality, form and sustainable credentials. Brands now seek products that are functional, eco-friendly and comfortable. Many fashion brands are also diversifying into the intimate wear space. Labels like Free People and Stella McCartney, are making intimate wear and changing the space that was previously dominated by industry leaders like Victoria’s Secret.
The expansion of the intimate market is set to continue due to rising consumer demand across various sectors, ranging from maternity to multifunctional intimates. With this diversification, there is likely to be rapid technological advancement in intimate wear production, with growing new technologies that support multiple functions in intimate wear catering to consumer needs.
Generation Z and millennials have increasingly become aware of sustainability. A recent report published by PwC indicated that 21 per cent respondents to a survey were willing to send an additional 5 per cent on sustainable fashion, which signifies the value of the sector.
