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Lingerie Market to Expand at CAGR of 8.5% During Forecast Period, Observes TMR Study
ALBANY, N.Y. , Feb. 23, 2022 /PRNewswire/ -- The global lingerie market was valued at US$ 46.55 Bn in 2020. The global market is predicted to rise at a CAGR of 8.5% during the forecast period, from 2021 to 2031. The global lingerie market is anticipated to surpass US$ 93.1 Bn by 2031. In order to meet the growing demand for lingerie, lingerie firms are extending their product ranges. Furthermore, continuous product innovation by lingerie firms with improved comfort in lingerie is likely to expand the global market during the forecast period.
Moreover, women have an emotional connection with various brands of underwear they choose. Consumers did not previously had a wide range of options while purchasing underwear. Women's taste and choices evolved with rise in the number of working women and their disposable income, allowing them to analyze and compare the quality of different lingerie brands. This resulted in diverse buying decisions.
In the global lingerie market, North America is predicted to hold the highest CAGR during the forecast period. Key competitors in the region's lingerie market are embracing new technologies in order to supply clients with high-quality items. Rise in promotional activities is predicted to have a favorable influence on the regional market.
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Some of the key market players are
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