Singapore Lingerie Market: Import Trend Analysis
In 2024, Singapore`s import trend for the lingerie market experienced a decline of -10.47% from the previous year. However, the compound annual growth rate (CAGR) for 2020-2024 stood at a healthy 7.3%. This dip in import momentum could be attributed to shifting consumer preferences or evolving trade dynamics impacting market stability.
Lingerie Market: Singapore vs Top 5 Major Economies in 2027 (Asia)
The Lingerie market in Singapore is projected to grow at a stable growth rate of 2.17% by 2027, within the Asia region led by China, along with other countries like India, Japan, Australia and South Korea, collectively shaping a dynamic and evolving market environment driven by innovation and increasing adoption of emerging technologies.
Singapore Lingerie Market Synopsis
The Singapore lingerie market is expected to grow at a CAGR of 3.4% during the forecast period 2020-2026. Singapore has emerged as one of the leading lingerie markets in Asia Pacific region due to factors such as rising urbanization, growing number of working women and increasing disposable incomes. Changing consumer preferences are propelling growth for items like sports bras, shapewear and seamless garments with designer labels and high quality fabrics providing comfort while redefining fashion standards. Moreover, product innovation with creative designs and attractive packaging has been gaining prominence among retailers catering to young female consumers in the country. Easy online purchase options have also made it convenient for customers to shop from their home without any hassle or visiting physical stores thus aiding market penetration in recent years.
Market Drivers
Growing demand for fashionable lingerie products amongst millennials.Increasing preference towards comfortable yet stylish intimate wear.Rising disposable income allowing people more spending on non-essential items.Product innovation driving sales through attractive pricing & promotional activities.
Market challenges
Low brand loyalty reducing customer base and making them open to other similar products. Stringent government regulations hindering product launches & marketing efforts.
Key players
Major players operating in Singapore Lingerie Market include La Senza International Inc., Victoria`s Secret Stores LLC., Triumph International Co Ltd., Jockey International Inc., Wacoal Holdings Corporation, Hanesbrands Inc., Chantelle Group SAS, L Brands Incorporated, Calvin Klein Inc., American Eagle Outfitters among others
Covid-19 Impact
The pandemic has drastically altered social norms including user behavior related to intimate apparel which was primarily dominated by retail channels prior the outbreak of COVID-19 crisis globally. With most countries enforcing some form of lockdown, lingerie brands faced difficulties when it came meeting demands through brick & mortar stores due to imposed restrictions on mobility patterns within cities combined with closure of shopping malls forcing customers towards ecommerce platforms where they enjoyed greater convenience while transacting digitally from the safety their homes throughout this period
Key Highlights of the Report:
- Singapore Lingerie Market Outlook
- Market Size of Singapore Lingerie Market, 2023
- Forecast of Singapore Lingerie Market, 2030
- Historical Data and Forecast of Singapore Lingerie Revenues & Volume for the Period 2020-2030
- Singapore Lingerie Market Trend Evolution
- Singapore Lingerie Market Drivers and Challenges
- Singapore Lingerie Price Trends
- Singapore Lingerie Porter's Five Forces
- Singapore Lingerie Industry Life Cycle
- Historical Data and Forecast of Singapore Lingerie Market Revenues & Volume By Type for the Period 2020-2030
- Historical Data and Forecast of Singapore Lingerie Market Revenues & Volume By Brassiere for the Period 2020-2030
- Historical Data and Forecast of Singapore Lingerie Market Revenues & Volume By Knickers for the Period 2020-2030
- Historical Data and Forecast of Singapore Lingerie Market Revenues & Volume By Shape Wear for the Period 2020-2030
- Historical Data and Forecast of Singapore Lingerie Market Revenues & Volume By Others for the Period 2020-2030
- Historical Data and Forecast of Singapore Lingerie Market Revenues & Volume By Distribution Channel for the Period 2020-2030
- Historical Data and Forecast of Singapore Lingerie Market Revenues & Volume By Specialty Stores for the Period 2020-2030
- Historical Data and Forecast of Singapore Lingerie Market Revenues & Volume By Multi Brands Stores for the Period 2020-2030
- Historical Data and Forecast of Singapore Lingerie Market Revenues & Volume By Online for the Period 2020-2030
- Singapore Lingerie Import Export Trade Statistics
- Market Opportunity Assessment By Type
- Market Opportunity Assessment By Distribution Channel
- Singapore Lingerie Top Companies Market Share
- Singapore Lingerie Competitive Benchmarking By Technical and Operational Parameters
- Singapore Lingerie Company Profiles
- Singapore Lingerie Key Strategic Recommendations
