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Global Bra Market to Touch US$30.4 Billion by the end of 2025 - Transparency Market Research
According to the research report, the global bra market is expected to be worth US$30.4 bn by the end of 2025 from US$19.6 bn in 2016. Between the forecast period of 2017 and 2025, the global market is expected to rise at a CAGR of 5.0%. Out of the various types of bras, the non-padded bras are expected to remain popular amongst women due to the convenience they provide. This segment is expected to rise at a CAGR of 5.2% between 2017 and 2025. Geographically, the Europe bra market is anticipated to lead due to rising number of bra manufacturers in the region.
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Bra is an essential undergarment that is worn by most women as a part of their daily attire. Over the years, designs and patterns of bras have undergone a sea change. Today, the basic function of bras is being enhanced through understanding consumer needs. The superior quality of fabrics available in the global market and better means of commercialization have also added to the growth of the global bra market. The research report states that the growing number of young women with a better awareness about benefits of a wearing a bra are expected to make a serious contribution to the soaring revenue of the bra market.
Development and rapid commercialization of bras for maternity, feeding, and sports purposes has also attracted an untapped part of the bra-wearing population. Increasing participation in sports is expected to have a positive influence on the overall market. In the coming years, analysts anticipate that the remarkable improvement in materials for manufacturing sporting goods is expected to spike the demand for sports bra. Furthermore, proliferation of retail outlets and improving purchasing power, especially amongst the youth are expected to drive the global bra market by a significant margin. Rapid penetration of internet that is allowing consumers to make convenient purchases through e-retailing outlets has also been identified as a key growth driver for the overall market.
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On the negative side, the global bra market is being overshadowed by the high pricing of products. Despite a large market, buyers refrain from purchasing original products due to their high price, choosing instead a counterfeit product. Furthermore, the need for good quality bras also remains unfulfilled as majority of the women, especially the ones in the lower income bracket opt for cheaper options. The emerging trend of going braless in several developed countries is also expected to hamper the growth of the global bra market in the near future. However, rampant urbanization in developing countries is expected to offer a plethora of opportunities to the overall market.
This review is based on Transparency Market Research's report, titled " ".
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