China Lingerie Market to Reach USD42.51 Billion by 2026
Increasing demand for
high-end lingerie and growing fashion & style due to increasing social
media penetration are some key factors propelling the growth of China lingerie market.
According
to TechSci Research report, “China Lingerie Market By Product Type (Shape Wear, Lounge Wear, Knickers
& Panties, Bra, and Others), By Distribution Channel (Hypermarkets/
Supermarkets, Independent Retailers, Online, and Others), By Region,
Competition, Forecast Opportunities, 2026”, China lingerie market was
valued at USD26.36 billion in 2020 and is expected to reach USD42.51 billion by 2026 with a CAGR of 6.80% during
the forecast period. China lingerie market grew at a significant pace in the
past few years and is expected to register strong growth in the coming years as
well, due to increasing female population, changing preferences of young and
dynamic generation and rising awareness among the consumers due to social media
penetration. Moreover, rising urban population is offering huge growth
opportunities to manufacturers by catering to demand for lingerie in the
country. Today, there is less societal discrimination
against women in the country, and the concept of financial independence among
working women has helped them make better decisions. As a result, it is now
easier for vendors to directly target women and influence their purchasing
decisions. Furthermore, the growing urban middle class, strong brand awareness,
and rising disposable income is increasing the demand for lingerie in China. There has been an increase in local middle class, particularly
millennial women, who prefer to spend their disposable income on items that
make them feel confident and at the same time allow them to express their
personality.
China lingerie market is segmented based
on product type, distribution channel, company, and region. In terms of product
type, the market can be segregated into bra,
knickers & panties, lounge wear, shape wear & others. Out of these, bra
registered highest market share among all lingerie type due to increasing emphasis on inner comfort, followed
by knickers & panties, lounge wear, Shape wear & others.
In
terms of distribution channel, Independent retail store is dominating the China
lingerie market followed by online because it offers consumers the opportunity to touch
and feel the lingerie product. The online channel is the fastest growing as the
advent of online retail has allowed consumers to easily surf through catalogs
without being cramped by any store manager or any executive, which ensures
greater privacy to the consumers. Moreover, companies are shifting their focus to online
retail, as it is a much more cost-effective model and involves low operating
costs.
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In
terms of regional analysis, the market is segment into East China, North China,
North East China, South Central China, North West China, South West China. East
China is dominating the China lingerie market followed by North China. Company
named Shenzhen Huijie Group Co., Ltd. L
Brands, Inc., Cosmo Lady (China) Holdings Company, Embry Holdings Limited,
Yancheng International Women's Fashion Co., Ltd among others are the
major leading players in the China lingerie market. To remain competitive in the market lingerie companies are focusing on
developing unique marketing strategies and using updated technology to enrich
customer experience and to remain competitive in the lingerie market. They are
differentiating their product and communicating their unique selling
proposition through different mediums to the consumers. They are positioning
their brand in such a way to creates trust among consumers. For instance, Etam
Group has implemented a strategy to optimize
its infrastructure and fulfil customer expectations. The
company has systematically installed fiber optics at their stores and
considerably improved the Wifi network so that store team can work directly on
digital devices such as tablets and smartphones to provide customers with fast
and accurate products.
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“China lingerie market is anticipated to register
healthy growth during forecast period. Many companies in the industry have turned to innovate their current
product line by improvising packaging and product quality. Moreover, the
country’s lingerie market is witnessing trends in terms of fitting, fabric
design and wider color choices. For instance, shapewear category in lingerie
has evolved from harsh, uncomfortable clothing to shapewear with comfort and style. Majority of Chinese brands’ mission is to
change the industry and to solve common difficulties that people face, such as
ill-fitting, curve-enhancing bras, etc. Hence, companies are shifting their
product portfolio to comfortable, gender-neutral, and versatile styles”. said Mr. Karan Chechi, Research Director
with TechSci Research, a research-based global management consulting firm.
“China Lingerie Market By
Product Type (Shape Wear, Lounge Wear, Knickers & Panties, Bra, and Others,
By Distribution Channel (Hypermarkets/ Supermarkets, Independent Retailers,
Online, and Others),By Region, Competition, Forecast Opportunities, 2026.” has evaluated the future growth
potential of China 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
present in the China lingerie market.
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