India's female innerwear market to double to $11 bn by 2025: RedSeer

Market will grow in smaller cities quicker: a trend supported by rising incomes and brand awareness.

The female innerwear market in India will nearly double to $11-12 billion by 2025 as incomes rise, more young women join the workforce and people become aware of better brands, said a report by consulting firm RedSeer.

The category comprises lingerie, athleisure (loungewear and active wear) and ancillaries such as shapewear and swimwear. It is among the fastest growing category in apparel, according to the report called "Female innerwear’s USD $12 billion opportunity".

The online female innerwear market will be around $1-1.2 billion by 2025: a rise of nearly six times from 2020.

The domestic market now has four types of online players. There are offline-focused brands like Amante, Enamor and Triumph. E-commerce players like Flipkart and Amazon have many offerings but may not have a sharp, specific focus on female innerwear. Online fashion marketplaces like Myntra and Ajio, which have an array of fashion-related offerings with multiple categories and brands. Then there are digital-first omni-channel players focused on innerwear, such as Clovia and Zivame.

“There have been clear shifts in consumer behaviour favouring the use of casual or leisure wear. This was further enhanced by the pandemic, as consumers spent time indoors, working from home, they opted for more comfortable wear, spent more for better quality and explored online options," said Anil Kumar, co-founder and chief executive officer of RedSeer.

"Having experienced the convenience and quality of online products in the category, a significant number of customers are likely to stick - which is further validated by our consumer research. Overall, online purchase sentiment has increased by 5-10 per cent across categories, which means that Direct-to-Consumer brands have a significant opportunity going forward,” he said.

Within branded segments, there are a few "breakout categories" that are likely to witness highest growth to become an over $2.5 billion opportunity by 2025. These are- branded mid-premium lingerie, branded athleisure (includes loungewear and activewear), and branded ancillaries (includes swimwear and shapewear), according to RedSeer.

Innerwear is evolving into ‘casuals at home’ or 'at-home smart clothing’. Athleisure and active wear are benefiting from people becoming fitness conscious, joining gyms and taking up activities like cycling.

International brands like Reebok, Nike or Puma, which have in India for more than decades, have invested in awareness about the category. Their brands are widely distributed and alternatively used as casualwear.

The report said the female innerwear market will grow in smaller cities will grow 1.5 times than in metropolises. In these cities, the major growth factors will be digital penetration and brand awareness. It is gaining from social media influence and online shopping.