Underwear Market
The future of the global underwear market looks promising with opportunities in the cotton and synthetic markets. The global underwear market is expected to reach an estimated $165.1 billion by 2035 from $110.2 billion in 2027 with a CAGR of 5.2% from 2027 to 2035. The major drivers for this market are the increasing demand for comfortable fabrics, the rising focus on fashion trends, and the growing preference for premium innerwear.
- Lucintel forecasts that, within the product type category, boxers is expected to witness the highest growth over the forecast period due to more interest in everyday comfortable menswear.
- Within the fabric material category, synthetic is expected to witness higher growth over the forecast period due to advanced performance and functionality.
- In terms of regions, APAC is expected to witness the highest growth over the forecast period due to more people, greater financial resources and higher level of retail trade.
Emerging Trends in Underwear Market
The future of the underwear market is expected to shift toward luxury, digital, and premium products by 2027. The market is expected to shift toward products that offer comfort and better fit with enhanced traceability and faster delivery. According to Lucintel, it is expected that customers will demand and recognize performances and benefits from their everyday use products.
- Sustainability: The EU textile regulations, combined with major retailers' focus on sustainable underwear, created a greater demand for traceability in 2025. Recycled polyester and other sustainable fibers remained a minor fraction of the overall textile fibers. From a business perspective, the shift will increase costs and create differentiation opportunities among competitors.
- Digital: Traditionally, sampling in the apparel industry was wasteful and time-consuming. 2025 data showed that digital tools and innovations reduced sampling by 70%. These developments will encourage greater focus on underwear and other apparel products.
- Premiumization: Shapewear and performance-oriented underwear became more popular in 2025, as did other high-end, premium basics. Innovations in the use of different materials increased the premium nature of underwear. These underwear products are priced higher than the average, and customers are willing to pay the higher price because of the comfort and other benefits.
- Smart Materials: Innovation in materials science is enabling greater performance and functionality in textiles. There is continued crossover from sportswear to other categories including everyday underwear. Many textile suppliers have launched products to meet this demand. Expect more core innovation to result in more advanced smart materials and products protected by IP.
- Rising Complexity in The Supply Chain: In 2025-2027 many brands reduced risk exposure by investments in supply chain capacity in Turkiye, India, Vietnam and Central America. While this reduced exposure to single-country sourcing, it increased the complexity of supply chain management. Volatility in logistics and trade costs challenged just-in-time supply.
Continued focus on product innovation to enhance sustainability, along with digital and other advances in manufacturing, should enable brands to fully protect and verify their claims and improve profitability in the premium and functional underwear segment. Leading companies will develop a broad range of underwear categories, focusing on innovation, quality, and dependability.
Recent Developments in the Underwear Market
Consolidation and channel reset will continue to dominate the underwear market from 2025 to 2027. Shifts in consumer preferences for more comfort and value promote further segmentation and product differentiation by brand owners. The market will remain competitive and become even more complex with greater reliance on differentiating products with technology and other strategies.
- Mergers and Acquisitions: In July 2025, the approximately $4.4 billion acquisition of Hanes Brands by Gildan was finalized. The integration of the two largest players in the innerwear space is expected to foster greater price competition among retailers.
- Financial Investments: In March 2025, SKIMS raised $225 million at a valuation of $5 billion. The funding will no doubt facilitate expansion and distribution of the brand in new markets. Increased investment in similar brands is expected.
- Manufacturer/ Retailer Partnerships: In February 2025, the mass retailer Walmart and SKIMS, partnered to produce a line of maternity underwear. The collaboration will for the first time offer high end maternity underwear in the mass market.
- Expect Expanded Store Presence: Victoria's Secret plans to open 50 new stores during the next few years and improve efficiency across their store chain. Despite increasing online shopping, data shows physical stores are still essential to sell underwear. One of the reasons is rising client acquisition costs. With physical stores, retailers can ensure product fittings and offer returns if necessary.
- The Ecodesign Regulation: The EU's 2024 Ecodesign for Sustainable Products Regulation will help establish a framework for sustainable design for the textile industry between 2025 to 2027. It will require suppliers of underwear and other textile products to ensure their products are designed to last, and use more sustainable materials to reduce their carbon footprint.
Consolidation will occur. To survive, companies will have to decide which product categories they will be able to serve best. Strong companies will ensure their products fit as designed, and use more sustainable and traceable materials. They will also be able to integrate, manufacture and supply products to various clientele. They will also be able to adjust to changes in business law and regulations.
Strategic Growth Opportunities in the Underwear Market
By 2026, the underwear market will be larger and more competitive as a result of changes in customer preferences. Changes may include purchasing underwear based on personal preferences (e.g. gender, lifestyle, and income), performance and comfort, and the source and method of production. Lucintel expects that greater segmentation will allow brands to target specific consumer bodies.
- Better Performance: The use of fabric technologies that regulate body temperature and/or manage the body's moisture may give Decathlon an edge over its competitors in the male intimate apparel market, particularly for men who engage in physical activities and/or occupations. The integration of these fabrics into Decathlon's male intimate apparel by 2025 may increase the market's expectation of female/male intimate apparel.
- Better Fit: In 2025, Victoria's Secret and other intimate apparel companies may incorporate body data to improve the fit of their products. Those that successfully accomplish body data integration are likely to enhance consumer retention and reduce returns over the next 3 to 5 years.
- -Sustainable Materials: Continue using recycled polyamide, certified cotton, and low-impact dyes. Premium pricing will be supported by evidentiary claims. The EU's textile strategy aims to standardize digital product passes for apparel. Anticipate compliance will incentivize the use of tracked fibers, and reward suppliers of transparent product lines.
- Emerging Markets: The underwear market in South and Southeast Asia and Africa is still largely unserved, due to low brand awareness caused by low literacy rates and low incomes. With economic growth and wider mobile and internet access, branded, low-cost underwear may gain popularity. According to one estimate, the size of the Indian e-commerce market will reach $100 billion in 2025. Improved logistics and supply chain management will assist entry into previously unserved markets.
- Individualized Shopping: Continue to use data science and small batches to reduce the risk of carrying excess inventory. With Shopify's client base expected to reach 5 million, individualized e-commerce is expected to grow. In the next 5 years, expect customers to be willing to purchase and wear individualized underwear.
Consumer insight should be used to pioneer new, useful products. Strong claims by suppliers should be used to differentiate products. Merchandising should be locale-specific. Integrating data science and product development, companies should be able to gain and defend a margin while supplying non-basic underwear.
Underwear Market Drivers and Challenges
Consumer trends and shifts in the global economy create both opportunities and threats for the underwear market. The use of sustainable and quality raw materials remains essential for continued market growth. Regulatory changes impact the way businesses structure their operations and companies must adjust their pricing and distribution strategies in response. Lucintel provides analysis on all aspects of product strategy for the global underwear market and projects market potential for a period of up to five years.
The factors responsible for driving this market include:
- The Rise of Wellness and Comfort Trends: Consumers have moved beyond the appreciation of benefits like moisture management to also preferring other performance attributes including odor management and also the use of sustainable/recycled materials. Additionally, they prefer other features like seamlessness and other design elements to improve the overall look and comfort of the underwear.
- E-commerce and Digital Retail: Improvements in online shopping have led to the expansion of various options for online shopping for intimate apparel. Online retailers have developed ways to provide consumers with a broader selection of sizes, offer subscription services, create and produce their own brands, and provide personalized shopping services. Convenient online shopping, as well as the improvement of the technologies associated with online shopping, have enabled consumers to shop online for intimate apparel. Continuous investment by international fashion retailers in the development of Artificial Intelligence to provide shopping recommendations and online digital fittings has enhanced the online shopping experience. In the next three to five years, smaller businesses and lesser known brands would have the opportunity to compete in the online shopping market.
- Sustainable and Circular Designs: There has been a shift in public awareness regarding sustainability to include consideration of the entire life cycle of a product. A longer service life of a product is preferred. This has also influenced the consideration of the methods and sources of raw material production, the country of origin of the raw materials, the mode and means of transportation, the method and sources of production, the condition of the workforce, the consumption of the product, and the means and methods of disposal of the product. Three to five years is considered the average time it takes for a new design to come to market. It is therefore reasonable to expect that during this time, circular design and sustainability would be the primary focus in planning and manufacturing apparel and other products.
- Inclusive Product Development and Design: There has been significant growth in the underwear market as a result of the introduction of new product lines designed for different body sizes and shapes, ages, gender identities, mobility, and other preferences. Innovations in underwear design include expanded size ranges, gender neutral design, sensory and other types of integration, adaptations for various body and physical conditions, and the use of different types of materials. In April 2025, leading online retailers launched and promoted a greater variety of inclusive underwear on their websites. It is expected that design and manufacturing innovations will encourage companies to move away from reliance on traditional fit models, currently limited to a small number of people.
- Improved Manufacturing and Logistics: The addition and integration of various automated and other advanced technologies in design, production and logistics, has allowed manufacturing to be more flexible and responsive to consumer demand. In June 2025, a number of apparel manufacturers improved their material utilization through the introduction of automated systems for cutting and other processes. Effective use of materials and other innovations will allow manufacturers to be more flexible to meet consumer demands and needs in various locations, and reduce the time between the introduction of a new product to the withdrawal of an existing product.
The challenges facing this market include:
- Raw Material Price Volatility: Prices of raw materials including cotton, synthetic fibers and elastane, dyes, packaging, energy, and contract transportation services, as well as prices of finished goods, are unpredictable due to weather conditions, geo-political boundaries, exchange rates, and supply and demand conditions. Because underwear is generally price sensitive, brands are often forced to absorb increased costs. As of May 2025, producers of textile products affected by the volatile prices of raw materials and transport of goods adjusted their raw material procurement strategies. Price volatility of raw materials will negatively affect the margins of textile producers. Producers with large and geographically dispersed supplier bases will have a competitive edge.
- Intense Competitive and Price Competitive Environment: There is significant level of competition from international and national brands, private labels, contract manufacturers, fast fashion and sportswear brands. Price changes and new product introductions by competitors result in rapid changes in the market. Amazon and other large online marketplaces launched their own private label intimate apparel in August 2025. Most brands will rely on new product innovations to differentiate themselves from competitors. Strong and sustainable fitness and value propositions will help brands move away from price cuts.
- Regulatory Compliance: Complex rules are emerging across jurisdictions for compliance relating to fiber and chemical claims, product labelling, labor and packaging, and lastly, the environment, data and waste. Companies are finding it more and more difficult to stay compliant with rules in different countries and face challenges when trying to do business in multiple jurisdictions. The preparation by the apparel industry to meet the demands for traceability and sustainability disclosure continued in October 2025. It is expected that compliances costs will increase in the next few years. Transparent companies will have the upper hand and gain customer trust while others will lose customers and face a Reputation risk.
The 2025 outlook for the underwear industry is positive. The industry is continuously improving its product offering and staying relevant in the market by focusing on sustainability and comfort. There are many opportunities for companies to enter the industry with specialized and innovative products. Due to increased compliance costs companies may find it difficult to be profitable. For long term success companies need to focus on responsible sourcing and integrate strong, sustainable and relevant supply chains. The next few years will be a good time for underwear companies to gain market share with a product offering that balances affordable prices with high quality and sustainability.
List of Underwear Market Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. Through these strategies underwear market companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the underwear market companies profiled in this report include-
- Gildan Activewear Inc.
- Victoria's Secret and Co.
- PVH Corp.
- Fruit of the Loom Inc.
- Jockey International Inc.
- Triumph Group
- Wacoal Holdings Corp.
- Spanx LLC
- Adidas AG
- Nike Inc.
Underwear Market by Segment
The study includes a forecast for the global underwear market by product type, fabric material, distribution channel, end use, and region.
Underwear Market by Product Type [Value ($B) from 2019 to 2035]:
- Briefs
- Boxers
- Panties & Thongs
Underwear Market by Fabric Material [Value ($B) from 2019 to 2035]:
Underwear Market by Distribution Channel [Value ($B) from 2019 to 2035]:
- Supermarkets/Hypermarkets
- Online Retail Stores
- Specialty Stores
- Others
Underwear Market by End Use [Value ($B) from 2019 to 2035]:
Underwear Market by Region [Value ($B) from 2019 to 2035]:
- North America
- Europe
- Asia Pacific
- The Rest of the World
Country Wise Outlook for the Underwear Market
Realignment of supply chains, tariffs and digitized manufacturing have brought changes to the global underwear industry. Leading companies are using high-performance fabrics and increasing their manufacturing capacities to produce faster cycling products. According to Lucintel, strategy and execution will help companies gain a competitive advantage.
- United States: The tariff policy and the acquisition of Warnaco by VF Corporation in April 2025, created an opportunity for the relaunch of the Victoria's Secret brand. Beginning in 2025, the company initiated a sourcing and manufacturing strategy to produce a greater level of fit and comfort in their products. The combination of these changes created a strong incentive for the nearshoring of underwear manufacturing. This trend is expected to continue for the next five to seven years.
- China: The textile and apparel industry of China is expected to further develop and strengthen their manufacturing and export capabilities. The growth of the industry will create a strong base for production of innovative and high-tech fabrics and underwear.
- Germany: Similar to other European countries, Germany is expected to strengthen its position in high quality underwear manufacturing. One of the main reasons is the increasing number of brands focusing on more sustainable and highly innovative products.
- India: Among the key emphasis areas of India Inc. is the expansion of manufacturing capacities and organized retail. 2024-25 was a landmark year for Indian retail as Page Industries, the master franchisee of Jockey in India, reported an annual revenue of approximately ₹4800 Crores. Page further reinforced its commitment in the Indian sub-continent by enhancing the Jockey manufacturing and distribution infrastructure. Large-scale, integrated, and forward-looking manufacturing facilities will facilitate structural transformation in Indian supply chain from labor-intensive and supply-led to manufacturing of branded, technology products and services.
- Japan: Innovations in materials and fabrications are the key drivers in the product development cycle in Japanese innerwear. As of August 2025, Fast Retailing (owner of Uniqlo) had 1,677 stores in Japan, and enhanced its AIRism and HEATTECH ranges. Over the next 5 years, Japanese manufacturing will dominate the high-tech, performance-oriented innerwear markets.
Features of the Global Underwear Market
- Market Size Estimates: underwear market size estimation in terms of value ($B).
- Trend and Forecast Analysis: Market trends (2019 to 2026) and forecast (2027 to 2035) by various segments and regions.
- Segmentation Analysis: underwear market size by various segments, such as by product type, fabric material, distribution channel, end use, and region in terms of value ($B).
- Regional Analysis: underwear market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
- Growth Opportunities: Analysis of growth opportunities in different product types, fabric materials, distribution channels, end uses, and regions for the underwear market.
- Strategic Analysis: This includes M&A, new product development, and competitive landscape of the underwear market.
Analysis of competitive intensity of the industry based on Porter's Five Forces model.
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This report answers following 11 key questions:
- Q.1. What are some of the most promising, high-growth opportunities for the underwear market by product type (briefs, boxers, and panties & thongs), fabric material (cotton, synthetic, and others), distribution channel (supermarkets/hypermarkets, online retail stores, specialty stores, and others), end use (women, men, and children), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
- Q.2. Which segments will grow at a faster pace and why?
- Q.3. Which region will grow at a faster pace and why?
- Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
- Q.5. What are the business risks and competitive threats in this market?
- Q.6. What are the emerging trends in this market and the reasons behind them?
- Q.7. What are some of the changing demands of customers in the market?
- Q.8. What are the new developments in the market? Which companies are leading these developments?
- Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
- Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
- Q.11. What M&A activity has occurred in the last 7 years and what has its impact been on the industry?