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.
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.