Global lingerie market is expected to grow at a CAGR of 6.7% between 2023 and 2031, as per Transparency Market Research report. The global lingerie market was valued at US$ 96.3 Bn in 2022 and is projected to reach US$ 171.3 Bn by the end of 2031.

The lingerie market, now also considered as an important fashion accessories has witnessed significant growth in the past few years due to the increase in popularity of western clothing in the women's category, and the rise in acceptance of various body types.

The rise in demand for comfortable innerwear among women and the increase in demand from online sales channels are anticipated to accelerate market expansion. The rapid growth of the innerwear apparel industry is projected to increase market size. The report also indicates that the availability of various lingerie types across all online and offline stores worldwide is likely to bolster market expansion in the next few years.

Europe held the largest market share in 2022 due to the presence of the largest fashion industry and an increase in people's income in the region. The rise in working women's population and presence of high fashion interests among them are projected to bolster the market in the region during the forecast period. South America, Asia Pacific, and Middle East & Africa are anticipated to generate notable revenue during the forecast period due to improving economic conditions, rise in the number of women workers in different fields, and improving fashion industry.

Increase in women's employment is also a key driver for the growth of the lingerie market. Rapid economic growth in several parts of the world has propelled the participation of women in multiple businesses, especially in developing countries such as China and India.