US Men’s Underwear and Women’s Lingerie Market: Mass Merchant a Leading Segment

(Newswire.net — July 4, 2017) New York City, New York — Growing awareness regarding personal hygiene and health among men and women has revved up demand for lingerie and undergarments for men and women in the U.S. Moreover, increasing participation of youngsters in sports has contributed towards growth of the U.S. men’s underwear and women’s lingerie market significantly. Persistence Market Research has recently compiled a report, which reveals that the U.S. men’s underwear and women’s lingerie market will witness a growth of 5.5% and 5.7% CAGR in terms revenue over the forecast period, 2016-2024.

Factors Fuelling Growth of the U.S. Market

Surge in disposable income, and increasing importance on personal hygiene has fuelled growth of the U.S. men’s underwear and women’s lingerie market during the predicted years. Moreover, manufacturers prefer outsourced services for production in order to gain economies of scale. Cost of raw materials and labor is relatively high in the U.S. market among other developing countries. Bulk production at relatively low cost enables prominent brands to sell underwear at economical prices.

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Undergarments are witnessing increasing adoption as a fashion apparel than a basic necessity in the U.S. In addition, growing awareness related to fitness and health is influencing them to use two sets of fresh/clean undergarments every day. Youngsters prefer wearing functional underwear when participating in sports activities, going to the gym or participating in sport activities attributed to various benefits as compared to the traditional undergarments. Such factors are likely to impact growth of the U.S. men’s underwear and women’s lingerie market significantly during the predicted years.

In addition, propagation of retail outlets including discount stores, pharmacy stores, and supermarkets has revved up sales of these undergarments in the U.S. Due to convenient accessibility to such products, growth of the U.S. men’s underwear and women’s lingerie market is likely to witness a significant market growth by the end of 2024. Further, availability of intimate apparels at discounted prices will fuel sales of these undergarments throughout 2024. Additionally, surge in personal expenditure will lead to increasing expenditure of consumers. Such factors are likely to contribute towards growth of the U.S. men’s underwear and women’s lingerie market during the predicted period.

Mass Merchant to Represent a Leading Segment to Represent

Boxer briefs among other men’s undergarment products will account for more than 30% of the market share. This segment will account for a market value of US$ 975.8 million, and is likely to register a CAGR growth of 6.1% throughout 2024. Brassieres among various products for women’s undergarments will represent the fastest growing segment through 2024. XXXL among other sizes will gain significant traction among undergarment products for men. This is mainly attributed to increasing prevalence of obesity in the U.S. Mid-priced segment accounted for a revenue share of 42% for men’s underwear and women’s lingerie items, whereas the premium-price segment will witness 6.9% CAGR growth. Mass merchant distribution channel among others will represent a leading position, and is likely to witness a growth of 4.9% CAGR during the predicted period. Online stores among other channels of distribution will register a significant CAGR, and will account for a market share of nearly 19% by the end of 2024.

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Market Players

Leading market players operating in the U.S. men’s underwear and women’s lingerie market include American Eagle Outfitters Inc., Jockey International, Fruit of the Loom, Victoria’s Secret, Hanes brand Inc., Commando LLC, Calvin Klein, Ralph Lauren Corporation, Cass and Company, Philips Van Heusen Corporation, and Hanky Panky.