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The Global Strapless Underwear Market was valued at USD 2.24 Billion in 2023 and is expected to reach USD 3.57 Billion by 2029, growing at a CAGR of 8.4% during 2023-2029.
Definition:
Strapless underwear refers to a type of undergarment designed to be worn without traditional shoulder straps. Also known as bandeau underwear, these garments are intended to provide support and coverage for the bust area while avoiding the use of straps that would typically go over the shoulders. Strapless underwear is often used when wearing outfits with bare shoulders, open-back designs, or dresses and tops that would be marred by visible straps. Strapless underwear features a bandeau-style design, usually consisting of a stretchy and elastic fabric that wraps around the bust area. It may have a seamless or seamed construction. Strapless underwear provides varying degrees of support, depending on the design, material, and structure. Some styles offer light to moderate support, while others include additional features like underwire or built-in padding for enhanced support and shaping. Strapless underwear is versatile and can be worn under a wide range of clothing styles, including formal dresses, casual tops, and evening gowns.
Market Trends:
• The market was trending towards offering strapless underwear in a wider range of sizes to cater to diverse body types and ensure inclusivity.
• Some brands were introducing convertible strapless underwear that could be worn with or without straps, providing versatility for different outfit styles.
• Brands were exploring innovative fabric technologies to enhance comfort, support, and fit while maintaining a seamless and sleek appearance.
Market Drivers:
• The prevalence of off-the-shoulder, one-shoulder, and strapless clothing styles in fashion trends drove the demand for strapless underwear.
• Formal events such as weddings, proms, and parties often required strapless undergarments to maintain a polished look with specific outfits.
• The versatility of strapless underwear made it a go-to choice for a variety of outfits, from casual to formal wear.
Market Opportunities:
• There was an opportunity for brands to innovate in terms of design, materials, and construction to enhance both support and comfort.
• Brands that offered a wider range of sizes and catered to diverse body types could tap into an underserved market segment.
Market Challenges:
• Balancing support and comfort in strapless underwear was a challenge, especially for individuals seeking substantial support without traditional straps.
• Ensuring that strapless underwear stays in place without slipping down or shifting was a concern for wearers.
2023E-2030 Global Strapless Underwear Market Competitive Analysis
Know your current market situation! Not just new products but ongoing products are also essential to analyze due to ever-changing market dynamics. The study allows marketers to understand consumer trends and segment analysis where they can face a rapid market share drop. Figure out who really the competition is in the marketplace, get to know market share analysis, market position, % Market Share, and segmented revenue.
Players Included in Research Coverage: Victoria's Secret (United States), Calvin Klein (United States), Triumph International (Switzerland), La Perla (Italy), Hanesbrands Inc. (United States), Jockey International (United States), Wacoal Holdings Corp. (Japan), Cosabella (United States), Chantelle Group (France), Hanky Panky (United States)
Additionally, the Past 2023E-2030 Global Strapless Underwear Market data breakdown, Market Entropy to understand development activity and Patent Analysis*, Competitors Swot Analysis, Product Specifications, and Peer Group Analysis including financial metrics are covered.
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Segmentation and Targeting
Essential demographic, geographic, psychographic, and behavioral information about business segments in the 2023E-2030 Strapless Underwear market is targeted to aid in determining the features the company should encompass in order to fit into the business's requirements. For the Consumer-based market - the study is also classified with Market Maker information in order to understand better who the clients are, their buying behavior, and patterns.
2023E-2030 Strapless Underwear Product Types In-Depth: Online, Offline
2023E-2030 Strapless Underwear Major Applications/End users: Women, Men
2023E-2030 Strapless Underwear Major Geographical First Level Segmentation:
• APAC (Japan, China, South Korea, Australia, India, and the Rest of APAC; the Rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, and Sri Lanka)
• Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Belgium, Denmark, Austria, Norway, Sweden, The Netherlands, Poland, Czech Republic, Slovakia, Hungary, and Romania)
• North America (U.S., Canada, and Mexico)
• South America (Brazil, Chile, Argentina, Rest of South America)
• MEA (Saudi Arabia, UAE, South Africa)
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Research Objectives:
- Focuses on the key manufacturers, to define, pronounce and examine the value, sales volume, market share, market competition landscape, SWOT analysis, and development plans in the next few years.
- To share comprehensive information about the key factors influencing the growth of the market (opportunities, drivers, growth potential, industry-specific challenges, and risks).
- To analyze the with respect to individual future prospects, growth trends, and their involvement in the total market.
- To analyze reasonable developments such as agreements, expansions new product launches, and acquisitions in the market.
- To deliberately profile the key players and systematically examine their growth strategies.
FIVE FORCES & PESTLE ANALYSIS:
In order to better understand market conditions five forces analysis is conducted that includes the Bargaining power of buyers, Bargaining power of suppliers, Threat of new entrants, Threat of substitutes, and Threat of rivalry.
• Political (Political policy and stability as well as trade, fiscal, and taxation policies)
• Economical (Interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates)
• Social (Changing family demographics, education levels, cultural trends, attitude changes, and changes in lifestyles)
• Technological (Changes in digital or mobile technology, automation, research, and development)
• Legal (Employment legislation, consumer law, health, and safety, international as well as trade regulation and restrictions)
• Environmental (Climate, recycling procedures, carbon footprint, waste disposal, and sustainability)
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Criag Francis
HTF Market Intelligence Consulting Pvt Ltd
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