The U.S. men’s underwear and women’s lingerie market is expected to expand at a CAGR of 6.9% and attain an estimated worth of US$ 41 Bn by the end of the decade. The industry is currently valued at around US$ 21 Bn.
Sales revenue from men’s underwear and women’s lingerie items is expected to grow in the U.S. over the next couple of years owing to factors such as higher importance to personal hygiene, increasing disposable income, evolving lifestyle, improved standard of living, and changing preferences of consumers.
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Most manufacturers are opting to outsource production in order gain economies of scale, moreover, labor cost and cost of raw materials are relatively higher in the U.S. as compared to developing countries. Hence, low-cost bulk production enabling leading brands to sell underwear at competitive prices.
A study conducted by Persistence Market Research reveals that the men’s underwear and the women’s lingerie market in the U.S. is expected to ride on a CAGR of 6.9% from 2021 to 2031. In addition, propagation of modern retail formats such as pharmacy stores, discount stores and supermarkets is leading towards higher product visibility.
Key Segment Highlights
- In the women’s Lingerie section, brassieres are expected to be the fastest growing segment over 2031.
- On the basis of Size, demand for XXXL size is expected to gain maximum traction under men’s underwear section. This is primarily attributed to growing prevalence of obesity in the U.S.
- Growing popularity of boxer shorts amongst people ageing between 26 and 35 years is expected to represent a higher demand for boxers under men’s underwear section as compared to other age groups. The 26-35 years age-group segment is expected to account for a healthy revenue contribution to the market.
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- The mid-price segment commanded for nearly 2/5 value share of the market both for men’s underwear and women’s lingerie items. The premium-price segment under men’s underwear section market is expected to witness a positive CAGR during the forecast period owing to the growing trends of single brand underwear retailing and growing preference of men for sports fits underwear.
- On the basis of distribution channels, the mass merchant segment under men’s underwear section is expected to expand at a healthy CAGR during the forecast period. The segment is expected to capture around 1/2 share over 2031.
- The online store segment of men’s underwear and women’s lingerie market is projected to command for nearly 1/5 share by 2031, reflecting a robust CAGR over the assessment period. In addition, online stores are anticipated to emerge as the second largest distribution channel segment by the end of forecast period.
Competitive Dashboard
Key stakeholder in the US men’s underwear and women’s lingerie market includes
- Victoria’s Secret (L Brands).
- Calvin Klein.
- Fruit of the Loom (Berkshire Hathaway).
- Hanky Panky.
- Cass and Company.
- Commando LLC.
- Other.
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