Global Market for Knit Underwear and Nightwear to Reach US$70.85 Billion by 2015, According to a New Report by Global Industry Analysts, Inc.

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GIA announces the release of a comprehensive global report on Knit Underwear and Nightwear market. Retail sales in the global knit underwear and nightwear market are forecast to reach US$70.85 billion by the year 2015, driven by changing consumer lifestyles, increasing disposable incomes, innovations in fabric usage as well as consumer preference for more sophisticated and stylish innerwear. Alongside these imminent factors, general economic conditions also prevail upon the market’s long-term prospects. The recent economic crisis in 2008-09 adversely impacted retail sales of the market. However, the essential nature of the product’s utility prevented the market from taking a deeper plunge. Demand for unique product offerings as well as comfort and style in women’s clothing, particularly from unexplored, developing markets will sustain market expansion.

Knit Underwear and Nightwear: A Global Strategic Business Report

The intimate apparel market is driven mainly by style, and fashion with equal importance accorded to comfort, and novelty. The industry is marked by new fabric developments, and innovations in prettier, and more comfortable garment designs. The growing trend towards innerwear worn as outerwear has been richly beneficial to the lingerie market. The introduction of camisoles in trendy colors and T-shirts with built-in bras bear testimony to these trends. The market nevertheless is confronted with a mixed bag of opportunities and challenges. For instance, fierce competition has resulted in falling prices and a threatening shift of production to low-cost countries. In developed countries, aging population is pushing down growth opportunities. On the other hand, developing regions, hold immense potential for future growth, given their favorable demographics, rising standards of living, growing affluence and widespread adoption of Western lifestyles. Manufacturers are therefore fast expanding their business operations into South America, Central Europe and Asia. The lingerie market is in a state of transition, as both global brands and private-labels are re-assessing their respective market positions. Consumers in this segment generally tend to purchase more than necessary. Impulse purchases are rampant, and purchase decisions are typically based on feel-good factors, instincts, style and fitting rather than sheer necessity.

Ever changing consumer lifestyles, latest trends in fashion and style and innovations in fabric usage are the major factors driving the market for knit underwear and nightwear. Product markets expected to score the maximum gains in the upcoming years include seamless intimates such as seamless bras and panties, given consumer’s desire for seamless and imperceptible undergarments. Demand for plus-size inner wear is rapidly expanding in Western markets. Stores now offer suitable lingerie to customers who earlier depended on specialists for customized innerwear clothing.

Akin to several other industries, the global economic crisis affected the world market for knit underwear and nightwear during the years 2008 and 2009. Mature, developed market of North America, Europe and Japan bore the maximum brunt of the economic instability, with sales slipping during the period. In contrast, the developing economies brushed past with marginal losses in sales. Surprisingly, the children’s wear market witnessed the largest erosion in 2009 followed by the men’s wear, with the market largely remaining afloat due to optimistic outlook in women’s wear clothing. Nevertheless on the whole, the niche underwear and sleepwear market was more resilient to the economic crisis than the larger clothing industry and rebounded back on growth track by the year 2010, although at a slow rate of growth. Some of the notable changes the industry witnessed during the recessionary years included the influx of several retailers rendering the market more fragmented; market polarization of the luxury segment and increased popularity of the concepts ‘exact fit’ and value-for-money. The economic crisis considerably narrowed down the gap between the upper and lower end of the market as style differentiation almost vanished.

Europe dominates as the single largest regional market for knit underwear and nightwear, as stated by the new research report on Knit Underwear and Nightwear. The US and Asia-Pacific are the other two significant markets, trailing at a distance behind Europe. The three markets capturing a considerable share of the global market, literally set the rules and market direction. The Asia-Pacific market remained buoyant even during the economic recession, and supported by rapid growth from markets of China, India, Korea, Indonesia and Taiwan among others, is projected to register the overall fastest CAGR through 2015. By product segment, the global women’s knit underwear and nightwear market is considered the most vibrant and dynamic, carrying the growth ahead even when sales in other segments plummeted. In the near term too, the segment is forecast to sail ahead at the fastest compounded annual rate through 2015.

The global Knit Underwear and Nightwear market is highly competitive and fragmented, with no single dominant player in the market for any national or worldwide brand. The market is characterized by the presence of numerous large and medium players vying fiercely for a share of the pie. Private label players also enjoy considerable clout in the market. Key participants profiled in the report 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 current market trends, product profile, overview of apparel industry, intimate apparel dynamics, product innovations, recent industry activity and profiles of market players worldwide. Analysis and overview is provided for major geographic markets such as United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain and Rest of Europe), Asia-Pacific, Latin America and Rest of World. Market analytics are provided in value (US$) terms for product segments including Women’s Knit Underwear and Nightwear, Men’s Knit Underwear and Nightwear, and Children’s Knit Underwear and Nightwear.

For more details about this comprehensive market research report, please visit – http://www.strategyr.com/Knit_Underwear_And_Nightwear_Market_Report.asp

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world’s largest market research publishers. The company employs over 800 people worldwide and publishes more than 1200 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.

Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
Email: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/

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