Global Bra Market Analysis, Growth Opportunities and Competition Reviewed till 2025
New research report offers a comprehensive analysis of the “Bra Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025”. The main objective of this report is to deliver insightful information and clear-cut facts pertaining to the growth trajectories of the market.
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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$30.4 bn by the end of 2025. During the forecast years of 2017and 2025, the global market is expected to rise at a CAGR of 5.0%.
Non-padded Bras to Remain Popular Amongst Women
Padded bra and non-padded bra are expected to grow at a CAGR of 4.9% and 5.2% respectively. The adoption of non-padded bra is higher in female population. It occupies the largest share in the bra market in all the regions. Non padded bra is showing the fastest growth during the forecast period (2017 to 2025) and is expected to reach US$ 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.
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