Bra Market Trends, Analysis and Forecasts, 2018 – 2024
The global bra market was valued at US$ 19.6 Billion in 2016 and is expected to reach US$ 30.4 Billion in terms of revenue by 2024, growing at a CAGR of 5.0% from 2018 to 2024.Bra is an undergarment which is designed to support woman’s breasts which changes the outlook of a woman. The competition in the bra market is expected to intensify over the coming years and vendors are expected to invest heavily in the development of products with innovative features to gain a competitive edge. With the rising demand for premium products among young women, the demand of bra among female is expected to gain momentum.
Women from all backgrounds want to try out the latest trends in the bra segment. Bras are easily available on online and offline distribution channel. Key manufacturers of bra provides additional features on online distribution channel. Most brands such as Jockey have exclusive stores in shopping malls or outlet stores. Additionally, different brands of bra are available online with proper fitting guides. Online medium provides customer with wide options. This drives the online distribution channel segment of the bra market. North America and Europe region are expected to drive the demand for bra market during the forecast period. Based on product type, the bra market is segmented into padded bra and non-padded bra. Padded bra includes different types such as Sports Bra, Nursing Bra, Convertible/Multi-way Bra, Adhesive/Stick-On Bra and Others. Non padded bra consists of Sports Bra, Nursing Bra, Convertible/Multi-way Bra, Adhesive/Stick-On Bra and Others. In terms of distribution channel, the bra market is classified into online distribution channel and offline distribution channel.
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Offline distribution channel is further segmented into Supermarkets and hypermarkets, Specialty Stores and Others. On the other hand, geographically, the bra market has been further segmented as North America, Europe, Asia Pacific, Middle East and Africa (MEA) and South America. This report provides market estimates and forecast of the global bra market during the period from 2018 to 2024 and highlights the key market trends. The study emphasizes on the current market situation along with various driving and restraining factors that are predicted to affect the demand of bra market across various regions. The bra market across the globe is majorly driven by the Europe in terms of revenue and volume. After Europe, North America and Asia Pacific have large share in bra market. In North America, United States of America has the largest share for bra market. Innovation in bra market along with rising number of manufacturers of bra is expected to drive the growth of bra market in the United States of America. In Europe and Asia Pacific, U.K. and China are the leading countries with highest share in the bra market. In Asia Pacific, bra market is growing with fast rate due to increasing adoption of bras in female population. In Asia Pacific, countries such as India and China have the largest share in bra due to high female population. Alteration in lifestyle of consumer due to rapid urbanization is the major factor to grow bra market in this region. Additionally, due to strategic acquisition and merges in Asia Pacific, bra market will grow significantly in forecasted period. Some of the key players operating in the bra market across the globe are L Brands Inc., Hanesbrands Inc., The Phillipps-Van Heusen Corporation, Berkshire Hathaway Inc. (Fruit of the Loom), Wacoal, Jockey International, Inc., Groupe Chantelle, Triumph International and Wolf Lingerie Limited .The report also provides a competitive landscape of the key players in the bra market.
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