Shapewear Industry Overview
The global shapewear market size is anticipated to reach USD 3.7 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 8.0% from 2021 to 2028. The growth of this market is fueled by factors such as changing lifestyles, increased use of compression wear among the geriatric population, and developments in garment designs and fabric technology. Furthermore, the rise in online sales of compression wear and shapewear, as well as the rising demand for plus-size clothes, has fueled the growth of the market.
The market is also influenced by a variety of cultural factors. When it comes to the body, the concept of perfection is being replaced with the concept of self-love and comfort in one's own shape and size. The market has been influenced by this body-positivity philosophy.
As activewear improves, there's a case to be made for trying out shapewear with sweat-wicking properties and the ability to support your body during activity. Stella McCartney tapped into this sector with the Stellawear sustainable capsule line, which launched at the end of 2020. Body-sculpting swimwear that can also be worn as lingerie, yoga wear, or daywear, rather than only shapewear the collection has work, home, exercise, and social activities have all blurred together for today's consumer, therefore multifunctional items produce a seamless silhouette regardless of body shape.
Shapewear Market Segmentation
Grand View Research has segmented the global shapewear market on the basis of end-user, distribution channel, and region:
Based on the End-user Insights, the market is segmented into Male, and Female.
- The female segment dominated the market and accounted for the largest revenue share of 94.0% in 2020. The segment is primarily driven by advancements in shapewear fabrics and an increase in product launches for females.
- Different types of shapewear have been introduced in the market for women, such as bodysuits, girdles, corsets, control panties, control tights, control slips, slimming camisoles, and brassieres, which is the key factor driving this segment.
- New product innovations concerning different body areas such as tummy, butt, and thighs are favoring the sales of the companies operating in this segment.
Based on the Distribution Channel Insights, the market is segmented into Hypermarkets & Supermarkets, Specialty Stores, Online, and Others.
- The specialty stores segment dominated the market and accounted for the largest revenue share of 58.4% in 2020.
- An increasing number of apparel retail outlets, especially in emerging countries like India, China, and Brazil is expected to have a positive impact on market growth.
- The online segment is anticipated to witness significant CAGR over the forecast period.
- The rise of the online segment can be ascribed to technical improvements and the increasing importance given to online platforms for purchasing surfing apparel and accessories, particularly by consumers looking for bargains.
- The main target demographic for online platforms is customers who are comfortable purchasing things without physically inspecting them.
- To boost product sales and profit margins, most manufacturers have turned to the direct sales approach.
- Consumers have begun to adjust their shopping habits as a result of the COVID-19 pandemic, preferring to purchase online to avoid direct contact with other customers at retail outlets.
- The pandemic has sparked a digital revolution in a variety of industries, including the shapewear industry.
Shapewear Regional Outlook
- North America
- Europe
- Asia Pacific
- Central & South America
- Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
To increase their presence and strengthen their position in the market, businesses depend on strategic alliances. In the near future, reputable companies are likely to partner with small and medium-sized businesses to expand their shapewear product offers. For instance, Sankom Switzerland has produced an exclusive range of shapewear laced with aloe vera, which is antimicrobial and allows shapewear to calm the body. In addition, Skins International has introduced a line of compression clothing that is infused with fabric that is warp knitted with several fine quality yarns for enhanced performance.
Some of the prominent players in the shapewear market include:
- Nike, Inc.
- Adidas AG
- Spanx Inc.
- Triumph International Corporation
- Leonisa
- Wacoal America, Inc.
- Ann Chery
- 2XU Pty. Ltd.
- Under Armour Inc.
- Skins International Trading AG
Order a free sample PDF of the Shapewear Market Intelligence Study, published by Grand View Research.
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