In 2019, the size of the underwear market exceeded 200 billion, and men's underwear belonged to the market blue ocean
Editor: sunhing │ Date: September 24, 2019
Underwear refers to intimate clothing, including underwear, underwear, warm clothing, home clothes, pajamas, socks and many other close-fitting clothing. There is no doubt that underwear is just a matter of life. This report focuses on the women's underwear market.
In the social background of new retail, in addition to traditional underwear enterprises, there are also leisure and fashion clothing companies that have begun to get involved in the field of underwear. Some of the vertical platforms and brands that rely on the development of the Internet have begun to show strong vitality.
Recently, iiMedia Research officially released the "Global Underwear Industry Operation Status and China Underwear Market Monitoring Big Data Report for 2019-2021", focusing on the global and Chinese market size, development profile, men's and women's market analysis and development trends of the underwear industry. Interpretation.
China's underwear market is growing at an alarming rate, and women's underwear is still the most important market.
The data shows that the global compound growth rate of the global underwear market is about 7% from 2014 to 2019. It is estimated that the global underwear market will reach about US$450 billion in 2019; The growth rate of China's underwear market is relatively obvious. By 2019, the market size is about 200 billion yuan, of which women's underwear is still the most important market, accounting for more than 60% of the total market size.
From 2009 to 2014, the retail sales of China's underwear market increased from 113.7 billion yuan to 223.9 billion yuan, with a compound annual growth rate of 14.5%. In the same period, the annual compound growth rate of global underwear market sales was only 6.5%; it is expected that by 2019 The sales of the Chinese underwear market will reach 440.64 billion yuan.
Further by brand, imported brands account for about 60% of the market, and domestic brands account for about 40% of the market. Compared with overseas brands, there are also big differences between domestic brands and overseas brands. For example, Chinese underwear brand companies are not good at using a variety of marketing tools such as catwalks to shape their brand awareness. Some second-line brands do not even open investment associations, and pay more attention to hard product advertising. However, foreign brands pay more attention to brand value, often ask designers to create new products, grasp the fashion trend; pay attention to the influence of underwear models, and build product image with the temperament and image of the model itself.
In terms of industry concentration, the concentration of underwear in developed countries such as the United States and Japan is relatively high; the market share of individual brands in the Chinese underwear market is extremely low, and the overall industry dispersion is relatively high. In the TOP3 brand concentration, the three leading companies in the underwear industry in Japan and the United States accounted for more than 50% of the market share in 2017, and the market share of leading Japanese companies is still rising year by year.
Women's underwear segmentation trend is enhanced, male underwear belongs to the market blue ocean
In terms of women's underwear, the current trend of female underwear segmentation is obvious. Sports underwear, girl underwear, pregnant underwear, and vest underwear are popular among female consumers.
According to iiMedia Research analysts, Chinese women's aesthetics for underwear have gradually expanded from conservative underwear in the past to multiple types of underwear such as underwear, and the acceptance of underwear with different styles and functions has gradually increased. Comfort, fashion and functional factors have become the main considerations for contemporary Chinese women to buy underwear.
As the self-appeal of modern literariness continues to increase, emerging brands and categories in the segment of literary underwear are subject to the glands of different consumer groups. In particular, the aesthetic perspective of female form has undergone a more obvious change in recent years. The female underwear-oriented female underwear factors such as “sexy” and “charm” have gradually been dominated by female vision, such as “true” and “natural”. Replaced by factors.
Under the trend of diversified aesthetics, new sub-categories such as rim underwear and Bralette have begun to emerge in the women's underwear market and occupy a certain market share.
Women's underwear is the largest category in the underwear industry, and women's sensitivity to underwear materials is high, so the quality of underwear is a key point in brand development.
In terms of men's underwear, the market size of Chinese men's underwear has grown from 29.3 billion yuan in 2009 to 70.9 billion yuan in 2014, with an average annual growth rate of 19.3%. It is expected that the market size will expand to 171.34 billion yuan by 2019.
IiMedia Research analysts believe that foreign brands such as CK, FORBIDDEN, etc. have developed men's skin care underwear series, domestic amour and other underwear brands have begun to enter the men's underwear market, the men's underwear market has greater development potential, belonging to the market blue ocean.
The material of the underpants has also become a concern for men when choosing underwear. Data.iimedia.cn data shows that in the last 30 days of July 18, 2019, in the material search preferences of men's underwear, the soft "Modal" material is the most popular among men's boxers and U-shaped underwear, followed by thin and light. "Ice wire" material; for the briefs category, "ice silk" material is the most popular, followed by "Modal". Based on the search for popular words in men's underwear materials, consumers pay more attention to comfort and lightness when purchasing men's underwear.
In addition, in terms of children's underwear, 2016-2017 children's underwear sub-category volume ratio data comparison, underwear sets accounted for more than 50% of the entire children's underwear category, followed by underwear category. In 2017, the volume of underwear suits accounted for 4% of the volume of underwear suits compared with 2016, and the categories of underwear and warm pants increased by 3% and 1% respectively.
Actively build an industrial ecology, the online student brand is an important force
In the past, for the convenience of production, Chinese underwear companies often carry out large-scale mass production in large scale. Under this model, the refined demand of consumers is not satisfied. Once the front-end sales are stagnant, it will cause a large amount of inventory at the back end. Backlog, falling into the industry dilemma of low innovation and extensiveness. In order to break the predicament, the future development trend of the underwear industry will gradually focus on product value, satisfying and guiding consumers' consumption preferences.
IiMedia Research analysts believe that at present, the market concentration of China's underwear industry is gradually improving. Traditional head underwear companies are biased towards multi-brand and multi-category development. In recent years, online brands that focus on different women's underwear segments have risen rapidly. And continue to attract capital investment. According to incomplete statistics, in 2018, the investment and financing amount of the Chinese underwear industry exceeded 200 million yuan.
In the future, from the perspective of the promotion and sales of underwear, the online brand and the new retail method have become mainstream, which is an important force for the future competition in the underwear market.
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