The Latest Lingerie Industry Statistics Explained
As of 2020, the global lingerie market size is valued at $29.9 billion.
The statistic states that as of 2020, the global lingerie market size is estimated to be worth $29.9 billion. This figure represents the total value of lingerie products sold worldwide within that year. The statistic highlights the significant economic scale of the lingerie industry, reflecting the demand and consumption patterns of consumers. It indicates that lingerie is a sizable market with substantial revenue potential for companies operating in the sector. The value of $29.9 billion underscores the industry’s importance in the global economy, emphasizing the ongoing popularity and market presence of lingerie products across various regions.
The industry is projected to grow at a CAGR of 5.4% from 2021 to 2028.
This statistic indicates that the industry is expected to experience a Compound Annual Growth Rate (CAGR) of 5.4% over the period from 2021 to 2028. CAGR is a measure used to represent the annualized rate of growth of an investment or business over a specified time frame, smoothing out the fluctuations in growth rates that may occur year to year. In this context, a CAGR of 5.4% implies that the industry is forecasted to increase in size by an average of 5.4% per year during the specified period, reflecting a consistent and steady growth trend. This projection provides valuable insight into the expected future performance of the industry, serving as a basis for strategic planning and decision-making for businesses operating within it.
In the United States, the lingerie market was valued at $13.5 billion in 2020.
The statistic stating that the lingerie market in the United States was valued at $13.5 billion in 2020 represents the total worth of lingerie products sold within the country during that year. This value reflects the significant scale and economic importance of the lingerie industry in the United States, indicating a high level of consumer demand for these products. The size of the market suggests that lingerie is a significant sector within the retail industry, with a wide range of brands and products catering to various consumer preferences. The dollar value also emphasizes the market’s potential for generating revenue and contributing to the overall economy, highlighting the importance of the lingerie industry within the broader consumer goods market.
Victoria’s Secret is the leading lingerie retailer in the U.S with 19% market share.
The statistic indicates that Victoria’s Secret holds the largest market share in the lingerie retail industry in the United States, accounting for 19% of total sales. This suggests that Victoria’s Secret is the most popular and dominant brand in the U.S. lingerie market, outperforming its competitors in terms of customer preference and market penetration. The high market share implies that a significant proportion of consumers prefer and purchase lingerie products from Victoria’s Secret compared to other brands in the industry. This statistic showcases the brand’s strong presence and success in capturing a substantial portion of the U.S. lingerie market.
Over 70% of women are wearing the wrong size bra.
The statistic “Over 70% of women are wearing the wrong size bra” indicates that a significant majority of women may not be wearing bras that properly fit them. This can lead to discomfort, poor support, and potential health issues such as back pain and breast tissue damage. It suggests that there is a widespread lack of awareness or education around proper bra sizing and fitting. Improperly fitting bras can also impact a woman’s confidence and self-image. Addressing this issue through education, professional fittings, and improved sizing options could significantly improve the comfort and well-being of a large portion of the female population.
For women between the ages of 18-24, around 48% prefer to buy lingerie in-store.
The statistic indicates that among women aged 18-24, approximately 48% prefer to purchase lingerie items in physical retail stores as opposed to online. This data highlights a significant proportion of young women in this age group still value the in-store shopping experience for lingerie, possibly because they prefer to see and try on items before purchasing, or they appreciate the personalized assistance and advice provided by store staff. Understanding these preferences is valuable for lingerie retailers aiming to effectively target their marketing strategies and cater to the specific needs and preferences of the young female demographic.
Between 2015 and 2020, the lingerie industry in the US showed a growth rate of 2.4% annually.
The statistic that the lingerie industry in the US exhibited a growth rate of 2.4% annually between 2015 and 2020 indicates that the industry experienced a consistent positive trend over the five-year period. This growth rate suggests that the demand for lingerie products in the US steadily increased each year on average by 2.4%. Such a growth rate could be influenced by factors like changing fashion trends, marketing strategies, consumer preferences, and economic conditions. The industry’s ability to maintain a positive growth trajectory reflects its resilience and adaptability to evolving market conditions during this time frame, making it a promising sector for businesses and investors within the retail industry.
People in the age group of 25 to 34 are most likely to purchase lingerie online.
The statistic ‘People in the age group of 25 to 34 are most likely to purchase lingerie online’ suggests that individuals between the ages of 25 and 34 exhibit a higher propensity to buy lingerie through internet-based platforms compared to other age groups. This finding may be indicative of various factors such as their comfort with online shopping, greater disposable income, evolving fashion preferences or lifestyle choices, among other possibilities. Understanding this trend can help online lingerie retailers tailor their marketing strategies, product offerings, and user experience to cater specifically to this age cohort, potentially boosting sales and customer satisfaction within this demographic segment.
The United Kingdom’s lingerie market is estimated to grow at a CAGR of approximately 4.5% from 2020 to 2025.
This statistic indicates that the United Kingdom’s lingerie market is expected to experience a Compound Annual Growth Rate (CAGR) of around 4.5% from 2020 to 2025. This suggests a steady and moderate growth in the market size and revenue within the specified time frame. The CAGR is a useful metric for evaluating the overall growth rate over multiple periods, providing a smooth representation of the market’s expansion without taking into account the fluctuations that might occur year by year. The projected CAGR of 4.5% implies that the demand for lingerie products in the UK is expected to increase consistently over the next five years, reflecting potential opportunities for businesses operating within this market to expand and cater to the evolving customer needs and preferences.
The Asia-Pacific region is anticipated to be the fastest-growing region in the lingerie industry.
The statement “The Asia-Pacific region is anticipated to be the fastest-growing region in the lingerie industry” suggests that the lingerie market in the Asia-Pacific region is expected to experience a significant rate of growth compared to other regions around the world. This growth could be driven by factors such as changing consumer preferences, increasing disposable income, and a growing population. The anticipated growth indicates that there are potentially lucrative opportunities for businesses operating in the lingerie industry to expand their market presence in the Asia-Pacific region and capitalize on the increasing demand for lingerie products in that region. Additionally, this growth trend could also have implications for market competition, pricing strategies, and product innovation within the lingerie industry in the Asia-Pacific region.
The online segment of the lingerie market is predicted to expand at a compound annual growth rate of 7.1% from 2019 to 2025.
This statistic indicates that the online segment of the lingerie market is projected to experience a consistent and steady growth rate of 7.1% annually from the year 2019 to 2025. This suggests that the market for lingerie sold online is expected to increase substantially during this period. The compound annual growth rate (CAGR) takes into account the compounding effect over multiple years, showing how the market is likely to expand over time. This forecast indicates a positive trend in consumer preference for purchasing lingerie online, potentially driven by factors such as convenience, a wider selection of products, and the increasing popularity of e-commerce platforms in the retail sector.
In 2021, the biggest share of the lingerie market in terms of product category is bras, which make up 60.39% of the total market.
The statistic indicating that bras hold the biggest share of the lingerie market in 2021, accounting for 60.39% of the total market, highlights the significant dominance of this product category within the industry. This data suggests that bras are the most popular and sought-after item among consumers when it comes to purchasing lingerie. The high percentage share of bras in the market indicates a strong demand for this specific product, potentially driven by various factors such as changing fashion trends, comfort preferences, and the perceived essential nature of bras for most individuals. Businesses operating within the lingerie sector may use this statistic to inform their product development strategies, marketing efforts, and inventory management to capitalize on the popularity of bras and maximize their market share and profitability.
The value of China’s underwear market, including lingerie, grew to $24.2 billion in 2017.
The statistic that the value of China’s underwear market, which includes lingerie, reached $24.2 billion in 2017 indicates a substantial and significant market size for the undergarment industry within the country. This figure represents the total revenue generated by the sales of undergarments, including various types of innerwear and intimate apparel, in the Chinese market during the specified year. The growth in market value suggests a thriving industry with strong consumer demand and purchasing power, which could be attributed to factors such as changing fashion trends, increasing disposable income, and evolving consumer preferences. The statistic highlights the economic importance and potential growth opportunities within the underwear market in China, which may have implications for businesses, investors, and policymakers in understanding and engaging with this segment of the retail industry.
Less than 4% of lingerie models are plus size.
This statistic indicates that a very small proportion, less than 4%, of lingerie models fall into the plus-size category. This suggests that the vast majority of lingerie models showcased in the fashion industry are representing a narrow range of body sizes, typically emphasizing slimmer and more traditionally ‘ideal’ body types. The low representation of plus-size models may contribute to unrealistic beauty standards and limited diversity in the portrayal of different body types within the lingerie industry, potentially impacting body image perceptions among consumers and perpetuating societal ideals of beauty.
Based on growth rate, India’s lingerie market will surpass US market by 2025.
The statistic indicates that the lingerie market in India is experiencing a higher growth rate compared to the United States, and if this trend continues, India’s lingerie market is projected to exceed the size of the US market by the year 2025. This suggests that the demand for lingerie products in India is increasing at a faster pace than in the US, leading to a potential shift in the global lingerie market landscape. Factors such as changing consumer preferences, increasing disposable income, and evolving fashion trends in India could be contributing to this growth trend in the lingerie market.
References
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