Indian lingerie market to grow by 11.20% CAGR by 2030: Global News Wire
14 November 2024, Mumbai
Fueled by urbanisation, evolving demographics, and a rising sense of fashion consciousness, the Indian lingerie market is projected to rise from $5.06 billion in 2024 to $9.57 billion by 2030. As per a report by Global News Wire, the market is likely to grow at a CAGR of 11.20 per cent during this period.
One of the most crucial factors driving this growth is the rise in the e-commerce sector, which has significantly improved access to lingerie across India, including in rural areas. The COVID-19 pandemic accelerated digital adoption, fast-tracking the e-commerce landscape by one to two years and creating opportunities for both established brands and newcomers. This digital shift has enabled lingerie brands to foster deeper customer connections, offer personalised shopping experiences, and gain a clearer understanding of consumer preferences.
At present, there is a demand for offering comfort, style, and functionality amongst Indian consumers. There is a growing trend towards products blending support with aesthetics. Additionally, the demand for size-inclusive collections, diverse options, and sustainable products is influencing purchasing decisions.
Brands are responding to demand by expanding their offerings, introducing innovative materials, and staying in tune with market expectations, reflecting an agile approach to changing consumer needs.
However, the market faces challenges. Cultural taboos around lingerie shopping, a sensitivity to price, and infrastructure and distribution limitations continue to pose obstacles. To address these issues, brands and retailers are implementing strategies like targeted marketing campaigns and strengthening distribution networks to harness the growing demand in the sector.
Regionally, northern India leads the market, benefiting from higher disposable incomes, greater fashion awareness, and a more developed retail ecosystem. Urban centers in this region are driving growth, reflecting a synergy between consumer demand and strategic brand placement.
