SHAPEWEAR MARKET IS EXPECTED TO FORESEE SIGNIFICANT GROWTH DURING THE FORECAST PERIOD. NORTH AMERICA TO WITNESS THE HIGHEST GROWTH
Shapewear Market is expected to reach the market valuation of US$ 4.1 Billion by 2027 expanding at a reasonable CAGR of 7.2% during the forecast period (2021-2027) from US$ 2.5 Billion in 2020. Obesity and weight problems are well-known issues in modern societies all over the world. Nearly 39% of adults (18 years and older) worldwide were overweight as of 2019. The market’s growth is aided by the rising target population such as obese people around the world.
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Shapewear assists in squeezing the extra fat, making the body look slimmer. Shapewear garments can directly help in achieving inch loss and indirectly facilitate wearers to lose weight. Many of the products provide 3X compression for wearer’s problem areas, and regularly wearing them could help them go down 1-3 sizes. According to a survey conducted by INVISTA, 93% of women would like lingerie that would provide shaping and contouring functionalities. The average age of consumers using shapewear is 38-42 years, considering women undergo weight gain at this stage due to pregnancy and menopause. A rise in demand from the elderly population has been observed owing to the usage of compression garments for the treatment of edema, phlebitis, and thrombosis which occur in old age. The precise number of people affected by DVT/PE is unknown, although as many as 900,000 people could be affected (1 to 2 per 1,000) each year in the United States.
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During the Covid-19 pandemic, the fashion and textile industries played a significant role. Many clothing companies are helping to mitigate the pandemic’s effects by moving production to masks and protective gowns, which provide immediate assistance to many medical professionals and civilians, which negatively impacted the global apparel and textile industry, as well as the shapewear industry, resulted in a drop in retail sales in key markets.
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Based on type, the market is mainly fragmented into body shapers, corsets, seamless, waist cinchers, camisoles, and leggings. The body shapers segment dominated the market and accounted for XX% of revenue share in 2020 and is anticipated to maintain its dominance during the analyzed period. Body shapers are apparels that cover the body by enabling a tight fit, which enhances the body shape. Body shaper shapewear helps in improving blood circulation and endurance of the body. Leggings, which are a shape-enhancing, skintight piece of clothing covering the legs and meant to be worn by both men and women, have been seeing a steady upswing in demand. Revenue in the Leggings segment amounts to US$ XX Billion in 2020.
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Based on gender, the market is fragmented into males and females. The female segment dominated the market in 2020 accounting for XX% of revenue share and is anticipated to maintain its dominance during the forecast period owing to the rising obese population among women, globally. Females are the largest segment in the shapewear industry. The female segment is dominant due to the availability of a wide range of products, such as control camisoles, corsets, body shapers, etc.
Based on shapewear distribution channels market is bifurcated into offline and online. The retail segment grabbed the majority of market share and is expected to grow at a CAGR of XX% during the forecast period. An increasing number of apparel retail outlets, especially in emerging countries like Brazil, India, and China is expected to have a positive impact on market growth.
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For a deep-dive analysis of the industry, the study also includes regional and country-level analysis. The report comprises regions including North America (The United States), Europe (United Kingdom, Germany), Asia-Pacific (China, India), Central & South America (Brazil), Rest of the World. North America region dominated the market and generated a revenue of US$ XX Billion in 2020 owing to the availability of a wide product range across the online and offline channels in the region.
Nike Inc., Spanx Inc., Adidas AG, Triumph International Corporation, Leonisa SA, Wacoal America Inc., Ann Chery, 2XU Pty. Ltd. Under Armour Inc., and Skins International Trading AG are some of the prominent players operating in the global shapewear market. Several M&As along with partnerships have been undertaken by these players to boost their presence in different regions and expand their product portfolio.
Shapewear Market Segmentation
Market Insight, by Gender
Market Insight, by Type
- Body Shapers
- Waist Cinchers
Market Insight, by Distribution Channel
- Offline/Retail Stores
Market Insight, by Region
- North America
- The United States
- United Kingdom
- Central & South America
- Rest of World
Top Company Profiles
- Nike Inc.
- Spanx Inc.
- Adidas AG
- Triumph International Inc.
- Leonisa SA
- Wacoal America Inc.
- Ann Chery
- 2XU Pty Ltd
- Under Armour Inc.
- Skins International Trading AG