Knit Underwear and Nightwear: A Global Strategic Business Report
San Jose, CA (PRWEB) April 26, 2012
Follow us on LinkedIn – The intimate apparel market is characterized by impulse purchases with decisions typically influenced by instincts and feel good factors and more importantly, the concept of ‘exact fit’. Consumers tend to be loyal to such brands, which offer them the ultimate perfect fit and comfort. The future of underwear and nightwear sector is expected to be driven by features such as creativity and comfort offered in new designs and models by manufacturers. Growth will be led by rising demand for seamless intimates such as seamless bras and panties in mass and high-end varieties. Seamless designs made with smooth, opaque microfiber attract customers along with the currently popular knit and stretch woven sportswear. As the lingerie market is characterized by cut-throat competition, easy duplication, and rapidly changing consumer fashions and tastes, manufacturers resort to constant innovation in designs and fabric to keep the consumer interest alive. In addition, celebrity endorsement of brands continues to sustain the demand in the premium category. The retail arena is also witnessing rapid changes with transformation in distribution channels. In the long term, more number of lingerie brands are expected to move into the retail business due to a steady decline in independent boutiques.
The international lingerie market is characterized by fierce competition which has led to fall in prices and continuous shift of production to low-cost countries. Developing markets in this light hold ample potential for future growth. Besides competition, the slowdown in economy also played an important role in altering the geographic landscape. Though considered a recession-proof market, the knit underwear and nightwear segment registered a decline in sales during 2008 and 2009. However, the decline was relatively less when compared to other retail sectors as people still engaged in small indulgences, albeit trading down to lower priced stores and brands. The niche underwear market was more resilient to the economic crisis than the larger clothing industry. In order to supplement their dwindling clothing sales, non-specialists expanded into underwear, giving consumers a wide retail choice and ultimately intensifying competition in the already fragmented retail market for innerwear. With economy still treading sluggishly to pre-crisis levels, sales growth in the lingerie market continues to remain modest. While in the US, there is expected to be some improvement in sales in 2012, immediate term growth in Europe is expected to remain volatile as a result of falling consumer confidence owing to the ongoing debt crisis. However optimism prevails over the region’s resurgence given the measures undertaken by the government to handle the debt crisis. Currently, given the weak market conditions, European retailers are expected to aggressively foray into the overseas markets including the Middle East and Asia.
As stated by the new market research report on Knit Underwear and Nightwear, Europe continues to remain the largest regional market. Asia-Pacific, Latin America and Russia comprise the markets with highest growth potentials. China, with about 25% of the global population, is one of the world’s most promising markets for undergarments. Segment-wise, Women’s innerwear represents the largest and fastest growing market. The sector is dominated by extensive use of new and trendy colors marking the importance of sophistication in the market. New underwear concepts such as hipsters, thongs, gel-padded bras and so much more have been continually rolled out into the market in the last few years. Another trend in the market is increasing demand for plus-size inner wear. The men’s underwear segment is currently witnessing major changes in consumer preferences, particularly in terms of fabrics. As a result a wide range of fabrics are presently available in the marketplace for men’s underwear including polyester, cotton or even in silk blends.
Major players in the marketplace include Benetton Group S.p.A, Bella Di Notte S.L, Berkshire Hathaway, Fruit of the Loom Inc., Cia Hering, Calvin Klein Inc., Delta Galil Industries Ltd, Donna Karan International Inc, Gunze Ltd, Jockey International Inc., Joe Boxer, Maidenform Brands Inc, The Bali Company, Triumph International, Tefron Ltd, Warnaco Group Inc, Wacoal Holdings Corp, and Wacoal America Inc, among others.
The research report titled "Knit Underwear and Nightwear: A Global Strategic Business Report" announced by Global Industry Analysts, Inc., provides a comprehensive review of trends, issues, strategic industry activities, and profiles of major companies worldwide. The report provides market estimates and projections (US$ Million) for global and regional markets including United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain and Rest of Europe), Asia-Pacific, Latin America and Rest of World. Key Product segments analyzed include Women’s Knit Underwear and Nightwear, Men’s Knit Underwear and Nightwear, and Children’s Knit Underwear and Nightwear.
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