US men’s underwear and women’s lingerie market will witness significant growth over 2015 to 2021, owing to increased proliferation of modern retail formats such as supermarkets, discount stores, and pharmacy stores; rising personal income of US households; rising fashion consciousness, change in lifestyle, and rising awareness regarding health & fitness and personal hygiene among men and women in the country, says a report by Persistence Market Research. On the other hand, high competition due to the presence of a relatively high number of global and local intimate apparel manufacturers is expected to be the major restraining factor for the growth of the US men’s underwear and women’s lingerie market during the forecast period.
According to the latest market report published by Persistence Market Research, ‘US Market Study on Men’s Underwear and Women’s Lingerie: Driven by Proliferation of Modern Retail Format and Online Store during the Forecast Period’, the online store segment is expected to be the most valuable segment in terms of revenue throughout the forecast period. The US men’s underwear market is estimated at $3,236.4 million in 2015, and is expected to register a CAGR of 5.1 per cent over the forecast period. On the other hand, the US women’s lingerie market revenue is anticipated to expand at a CAGR of 5.4 per cent from 2015 to 2021.
The boxer brief segment is expected to remain dominant throughout the forecast period, with high revenue contribution. By the end of 2021, the boxer brief segment is expected to hold a share of 34.9 per cent in volume terms. In terms of size, XXXL size segment is expected to expand at the highest CAGR over the forecast period. However, in 2014, revenue generated by L size segment was higher as compared to other segments.
On the basis of the price range, the mid-range segment is anticipated to contribute highest in value terms by 2021. By age-group, the 65+ segment is expected to generate maximum revenue by 2021 in terms of value. On the basis of the distribution channel, online store segment revenue and volume is anticipated to register remarkable CAGRs over the forecast period.