Bra Market Expected to Reach US$ 34,914.7 Mn by 2026

According to a new market report published by Transparency Market Research titled “Bra Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018– 2026,” the global bra market was valued at US$ 24,582.4 Mn in 2017 and is expected to reach US$ 34,914.7 Mn in terms of revenue by 2026, growing at a CAGR of 4.1% from 2018 to 2026.

The demand for bra has grown tremendously in recent years. Padded bra type has the highest demand in the bra market. Availability of bras in different types, colors, and pattern will drive the bra market globally. Women from all backgrounds want to try out the latest trends in the bra market. Most companies have exclusive stores in shopping malls or outlet stores. The demand for non-padded bra is expected to grow during the forecast period. Padded bra segment held the largest market share of more than 71.7% in 2017. In the padded bra type, demand for sports bra has grown over the past few years and the trend is expected to continue during the forecast period. Europe and North America are expected to drive the demand for non-padded bra over the forecast period. The market for non-padded bra is expected to grow at a healthy rate in the Asia Pacific region.

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Based on product type, the global bra market has been segmented into padded bra and non-padded bra. Padded bra is the most common and preferred type of bra among women across the world. Padded bra has a thin layer of foam or fabric between the two layers of fabric outside the cup and inside the cup while non-padded bra has just a single layer of fabric. Under the padded bra segment, sports bra holds the major share and is expected to maintain its position over the forecast period. Higher standard of living is a key factor which is expected to accelerate the padded bra market during the forecast period.

Geographically, in terms of revenue, Europe held the largest share in the bra market in 2017. followed by North America. In North America, the US. is the highest revenue generating country in the bra market. Although Europe holds the largest market share, the Asia Pacific region is anticipated to witness the fastest growth during the forecast period. In Asia Pacific, India and China have the highest growth rate as compared to other countries. The market in MEA and South America are expected to witness slow growth as compared to the other regions of the world.

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The bra market consists of a large number of public and private players. The industry players focus on developing new products to satisfy the changing consumer preferences. Product innovation, technological advancements, and acquisitions are the key competitive strategies adopted by the top players in the bra market. L Brands Inc., Hanesbrands Inc., The Phillips-Van Heusen Corporation, Berkshire Hathaway Inc. (Fruit of the Loom), Wacoal, Jockey International, Inc., Groupe Chantelle, Triumph International, and Wolf Lingerie Limited are the key companies profiled in the research report. The report also offers competitive landscape of the key players in the bra market.

Bra Market- Bras Are An Excellent Means For Improving Customer Experience

Global Bra Market: Overview

The bra market has grown to a large extent since the time of its evolution. Bras are an excellent means for improving customer experience. Bras are easily available through online and offline distribution channel. These factors are the key drivers for the increased adoption of bra in the global market. Organizations have been doing large investment in research and development to introduce new types of bras. Bras are playing a major role in increasing sales across a lingerie industries. In today’s economy, customers’ purchasing decisions are based on quality-consciousness. They want products to be easily available in stores which are premium in quality. Over the coming years, these factors will provide substantial growth to the global bra market.   According to the research report, the global bra market was valued at US$19.6 bn in 2016 and is expected to be worth US$30.4 bn by the end of 2025. During the forecast years of 2017and 2025, the global market is expected to rise at a CAGR of 5.0%.

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Non-padded Bras to Remain Popular Amongst Women

Padded bra and non-padded bra are expected to grow at a CAGR of 4.9% and 5.2% respectively. The adoption of non-padded bra is higher in female population. It occupies the largest share in the bra market in all the regions. Non padded bra is showing the fastest growth during the forecast period (2017 to 2025) and is expected to reach US$ 19.35 billion by 2025.

The demand for bras in online channel is expected to soar during the forecast period. Major players of bra are making use of different online distribution channels for easier transactions and shipment of bra. This is triggering the growth rate of the global bra market. The offline distribution sector has been the largest revenue contributing sector to the bra market. The demand for bra in the e-commerce sector has increased and this trend is expected to continue during the forecast period. Non-padded bra also offers huge growth opportunity to the bra market.

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Europe to Emerge as Leading Regional Market to Global Bra Market

Europe is an attractive market for the bra followed by North America. The demand for sports non padded bra is expected to be high in Japan and India during the forecast period. North America and Europe are the key growth regions for the growth of bra market. The Europe region was the largest revenue contributor to the global bra market in 2016. North America region accounted for the second largest market share in the global bra market in the same year. Asia Pacific region is expected to grow at highest CAGR of 6.1% during the forecast period. The bra market in South America and the Middle East and Africa is expected to grow at slower pace as compared to the other regions of the world. Market in South America, Middle East & Africa are expected to undergo a decent growth over the forecast period.

The bra market consists of a large number of public and private players. The bra market industry players focus to develop new products to satisfy the changing consumer preferences. Product innovation, technological advancements, and acquisitions are the key competitive strategies adopted by the top players in the bra market. 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 are the key companies profiled in the research report. The report also offers competitive landscape of the key players in the bra market.