New Delhi, December 19, 2018: Increasing penetration of online retail, rising demand for comfy inner wear and growing disposable income to drive India lingerie market through 2023
According to TechSci Research report, “India Lingerie Market By Product Type, By Distribution Channel, Competition Forecast & Opportunities, 2013 – 2023”, India lingerie market is projected to grow at a CAGR of more than 14% during 2018 – 2023, owing to demand for comfortable innerwear, rising number of financially independent women and growing middle class population. Growing e-commerce market, increasing disposable income and rising trend of dual household income are among the other key factors that are boosting lingerie sales in the country. Some of the major players operating in the market are Page Industries Ltd., Rupa & Company Limited, Triumph International (India) Pvt Ltd., Lovable Lingerie Ltd. and Lux Industries Limited.
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“India Lingerie Market”
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Lingerie market can be broadly categorized into bra, knickers & panties, lounge wear, shape wear and others. Bra and knicker & panties dominated the market in 2017, as these products are a basic requirement of every woman. Western part of the country leads the market, backed by growing fashion consciousness and huge western culture influence in the region. Rising online sales of lingerie products, increasing penetration in rural areas and aggressive marketing & promotional strategies are expected to positively influence the country’s lingerie market in the coming years. Moreover, lingerie manufacturers are using luxurious, delicate fabrics and designs such as mesh and lace, which is also contributing towards rising sales of different lingerie products across the country.
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“Several lingerie companies have resorted to innovating their current product line-up by improving packaging and product quality. Numerous manufacturers are patenting innovative technologies and claiming benefits of their lingerie products such as cellulite reduction, weight loss and improved muscle tone. Moreover, the lingerie market is witnessing trends in terms of fitting, fabric designs and wider color choices. Every woman seeks finesse and exclusivity in every lingerie product purchased and is also willing to pay a premium price for the same. Lingerie companies are expected to witness lucrative growth opportunities in India over the next five years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“India Lingerie Market By Product Type, By Distribution Channel, Competition Forecast & Opportunities, 2013 – 2023” has evaluated the future growth potential of India lingerie market and provides statistics and information on market structure, size, share and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in India lingerie market.
Corporate Comm India(CCI Newswire)
