Shapewear Market Size, Share & Trends Analysis Report 2021-2028
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.
Shapewear is not about hiding defects for millennials and Gen-Z shoppers; rather, it is seen as apparel that improves rather than alters one's appearance. As a result, Gen Z-focused manufacturers like Honeylove have gained a wider audience by avoiding the term "shapewear" and instead of offering "sculptwear" in a variety of sensual styles with flattering elements that women want to flaunt in public.
Most of these companies also have enormous communities - Shapermint, for example, has four million members – who are encouraged to share their photos using shapewear across various social media platforms. Skims' inclusive strategy, which includes varied ad campaigns and a wide assortment of items in all shapes and colors, has also made it popular with millennials. They have one of the broadest size ranges (XXS to 4X) and a wide selection of skin tones to accommodate people of all ethnicities.
Women nowadays expect work-life flexibility intimates that may keep their bodies in tip-top form and make them appear attractive. Many firms are examining this as a customer-centric strategy and expanding their product portfolios to include lighter, firmer, and more practical products for everyday use throughout the year.
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.
- Females nowadays are demanding work-life flexibility intimates, which can keep their bodies in perfect shape and make them look appealing. Many brands are analyzing this as a customer-centric approach and expanding their product portfolios which are lighter, firm, and convenient for everyday use, for all the seasons.
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.
Shapewear Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin 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.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Contact:
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Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
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Email: sales@grandviewresearch.com
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