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19 Apr, 2022, 17:30 BST
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– Firms are spending on R&D to develop an exclusive bra line. In order to accommodate rising demand for bras, makers are broadening their product portfolio.
– Online retail outlets and propensity toward online shopping are likely to boost the global bra market. Rise in disposable income is also an important growth factor for the market.
ALBANY, N.Y., April 19, 2022 /PRNewswire/ — Transparency Market Research: The value of global bra market stood at more than US$ 26.7 Bn in 2020. The global market is projected to expand at a CAGR of 5.6% during the forecast period, from 2021 to 2031. The global bra market is anticipated to cross valuation of US$ 45.8 Bn by 2031. As market participants adapt to the changing post-pandemic normal, the global bra market is poised for strong development in the years to come. Though stick-on bras are becoming more popular among women who like to wear backless clothes, they have drawbacks such as sliding off, owing to gravity and skin irritation due to the adhesive. As a result, businesses are raising awareness about the importance of choosing stick-on bras that fit the form and size of a woman’s breasts in order to prevent the bra from falling off.
Over the forecast period, Internet retail outlets and inclination toward online shopping are likely to boost the global bra market. Rise in disposable income is also important in this case. It makes high-end products more affordable to a growing number of working women. In the next few years, this trend is expected to become popular. It is worth noting that high income and strong logistics have resulted in the availability of items from the leading brands with just one click.
As an increasing number of fashion and beauty influencers post updates on fashion shows on their respective social media accounts and handles, a growing number of women are drawn to beautiful, premium products. The level of brand recognition has never been higher. Furthermore, a lot of small firms that cater to convenience, elegance, and affordability are now operating in the global bra market with high quality items. This will result in fierce rivalry and a faster pace of expansion in the global bra market in the years to come.
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Global Bra Market: Growth Drivers
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Global Bra Market: Key Competitors
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Global Bra Market: Segmentation
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