According to a new report published by Allied Market Research titled, “Erotic lingerie Market by Product Type, Material, And Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021-2028,” the global erotic lingerie market size was valued at $19,288.4 million in 2020, and is expected to grow at a CAGR of 5.6% to reach $32,003.1 million by 2028. Asia-Pacific was the highest contributor to the market with $7,503.2 million in 2020.
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In 2020, Asia-Pacific accounted for the largest erotic lingerie market share of around 38.9% due to increase in disposable income as well as rise in penetration of smart phones. However, emerging countries in North America are anticipated to witness increase in demand during the erotic lingerie market forecast period due to presence of huge varieties in the erotic lingerie market.
Growth in value sales for erotic lingerie market is attributable to various varieties. Increasing disposable incomes, increased urbanization, and influence of Western culture has led to the rapid growth of the erotic lingerie market in the Asia-Pacific. Companies operating in the market are increasingly investing in marketing and sales infrastructure in the region to capture the growing market.
The desire to try and flaunt upcoming trends and fashionable lifestyle has increased considerably among consumers. This race to meet with the changing fashion trends has influenced women to purchase latest fashion designs, especially worn by celebrities and on the other hand subtly influences to discard phased out trending apparels. For instance, in the early 20th century, silhouette style gained high popularity. In addition, one-piece garments, curved, and bust-emphasizing brassiere and girdle (elasticized fabric) garters gained high traction in the global market. Moreover, one-piece corsets gained acceptability. However, later in the 20th century, erotic lingerie became stylish. In the present era, fashion trends have become bolder; erotic lingerie is not just limited to innerwear. Fashion trends are pushing consumers to exhibit their innerwear as outerwear. Thus, such dynamic fashion trends are emerging as the key factors influencing the erotic lingerie market trends.
Erotic lingerie industry has witnessed higher rate of penetration in North America as well as Europe region. However, low availability has been observed for these products in some major parts of LAMEA region, which is attributable to low performing macro-economic factors such as internet penetration and aggressive marketing strategies by the manufacturers. Thus, lower penetration of such products limits the growth of the erotic lingerie market.
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The global erotic lingerie market is segmented by product type into bras, briefs, shapewear, camisoles and others. Among the four types, the bras segment accounted for a larger share of around 43.8% of the overall market in 2020. This segment is further expected to capture a larger market share in 2028, owing to increase in demand for erotic lingerie. This segment is anticipated to witness faster growth in developed economies, and is expected to account for 45.4% of the overall market by 2028.
On the basis of material type, the market is segregated into natural and synthetic. The natural segment is expected to account for 72.9% of the overall market revenue by 2028.
On the basis of distribution channel, the market is segregated into brand outlets, hypermarket/supermarket, online sales channel and specialty store. Online sales channel is expected to account for 29.6% of the overall market revenue by 2028.
Key Findings Of The Study
- In 2020, Asia-Pacific was the highest revenue-generating market, owing to rise in varieties of erotic lingerie and rapid penetration in the market
- North America has emerged to be the second largest market with the U.S. and Canada accounting for prominent shares of the overall market, by value.
- The bras segment has emerged to be the most prominent segment, owing to rise in demand for erotic lingerie.
- North America is expected to witness fastest growth from 2020 to 2028, owing to high living standards and noticeable economies such as the U.S. and Canada.
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Key players operating in the erotic lingerie market include Adore Me, Agent Provocateur, Amante, Ann Summers, Bluebella, Felina, Frederick’s of Hollywood Operating Company, LLC, La Perla, L Brands Inc., and PVH Corporation.
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