A Look into Shapewear Industry……Deep Analysis…..
The global shapewear
market size is expected to reach USD 3.80 billion by 2025 registering a CAGR of 7.7%, according to a new report
by Grand View Research, Inc. The introduction of various products according to
the type of garments is expected to support the market growth in the years to
come. Growing target population across the globe is also augmenting the market
growth. Changing lifestyle incurs increased investment in fitness and related
accessories, which has positively impacted the market growth.
The clothing, footwear, & accessories
industry is anticipated to witness checkered growth throughout 2020, as a
result of the unprecedented supply chain disruptions caused by the COVID-19
outbreak worldwide. The expected decline in the global sales of clothing,
footwear, & accessories is attributable to massive supply chain disruptions
across significant export markets, including China and India. However, the
industry is likely to recover over the forecast timeframe, given the rising
popularity of online/e-commerce sales. From a manufacturing standpoint, the
sustainable or ethical fashion trend is expected to favor market growth
throughout the forecast timeframe. Luxury apparel is another lucrative space
for prospective manufacturers to target, given the mushrooming number of
affluent and fashion-conscious consumers across the globe. Our team is
diligently working towards accounting these factors in our report with the aim
of providing you with the up-to-date, actionable market information and
projections.
Moreover, availability of a wide range
of products, such as control camisoles, corsets, body shapers, singlets, body
briefs, and saree shapewear, is likely to contribute to the market growth. The
female end-user segment led the global market and will remain dominant
throughout the forecast period. However, the male end-user segment is
anticipated to expand at the fastest CAGR from 2019 to 2025. Online channel of
distribution is the fastest-growing segment owing to rising penetration of
digital media and marketing. Increasing number of internet users, particularly
in developing economies like China, India, and Brazil, have boosted the online
market for shapewears.
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In addition, key online retailers
including Amazon, Walmart, Decathlon, and Myntra, are adding this category as
main focus area. Promising growth exhibited by e-commerce platforms in emerging
countries is compelling manufacturers to reorient their retail strategies for
these countries, which is also driving the segment. Led by U.S., North America
was the largest regional market and accounted for 38.96% of the global market
share in 2018. High penetration of online as well as offline channels of
distribution in the region is boosting in market growth.Moreover, willingness
of consumers to spend more on fitness and body-shaping products is projected
spur the market growth in the region.
Further key findings from the study suggest:
·
In terms of revenue, female
end-user segment is projected to ascend at a CAGR of 7.6% over the forecast
years
·
Specialty stores led the global
shapewear market with an overall revenue share of over 58.3% in 2018; however,
the online segment is projected to register the fastest CAGR from 2019 to 2025
·
North America region led the
market in 2018 and is estimated to expand further at a decent CAGR over the
forecast period
·
Asia Pacific is projected to be
the fastest-growing regional market from 2019 to 2025 on account of growing
target population and rising consumer disposable income levels
·
The market is highly
competitive. Some of the key companies include Spanx, Inc.; .Adidas AG; Triumph
International Corp.; Leonisa SA; Wacoal America, Inc.; 2XU Pty Ltd.; Under
Armour, Inc.; and Ann Chery
The
global shapewear market size was estimated at USD 2.26 billion in 2018 and is
projected to expand at a CAGR of 7.7% from 2019 to 2025. Shapewears are
foundation undergarments, which are designed to temporarily alter the body
shape. Growing target population across the globe is augmenting the market
growth. Moreover, the introduction of various products according to the type of
garments is expected to support the market growth in the years to come.
Changing
lifestyle incurs increased investment in fitness and related accessories, which
has positively impacted the market growth. In addition, rapid growth of the
sports and fitness industry is likely to drive the shapewear market.
Furthermore, advent of superior fabrics, which enable body balancing, as a
result of technological developments will drive the market further.
Moreover,
availability of a wide range of products, such as control camisoles, corsets,
body shapers, singlets, body briefs, and saree shapewear, is likely to
contribute to the market growth. Online channel of distribution is the
fastest-growing segment owing to rising penetration of digital media and
marketing. Increasing number of internet users, particularly in developing
economies like China, India, and Brazil, have boosted the online market for
shapewears.
Moreover,
key online retailers including Amazon, Walmart, Decathlon, and Myntra, are
adding this category as main focus area. Led by U.S., North America was the
largest regional market and accounted for 38.96% of the global market share in
2018. Willingness of consumers to spend more on fitness and body-shaping
products is projected spur the market growth in the region. However, rising
awareness about the adverse effects of these products, such as blood clots,
breathing problems, and acid reflux, is expected to restrain the market growth.
On the basis of end users, the
market has been bifurcated into male and female end users. The female end-user
segment led the global market in 2018 and accounted for over 94% of the market
share. The segment is anticipated to remain dominant even during the forecast
period mainly due to the availability of a wide range of products, such as
control camisoles, corsets, body shapers, singlets, body briefs, and saree
shapewear. Moreover, manufacturers are introducing innovative products that
focus on different areas of the body. On the other hand, the male end-user
segment is projected to register the fastest CAGR of more than 8% from 2019 to
2025.
Browse Press
Release of this report:
Grand View Research has segmented the
global shapewear market on the basis of end user, distribution channel:
Shapewear End User Outlook (Revenue, USD Million,
2015 - 2025)
·
Male
·
Female
Shapewear Distribution Channel Outlook (Revenue, USD
Million, 2015 - 2025)
·
Hypermarket & Supermarket
·
Specialty Store
·
Online
·
Others
Specialty
stores is the largest channel of distribution. It accounted for more than 58%
of the global shapewear market share in 2018. Increasing number of apparel
retail outlets, especially in emerging countries like Brazil, India, and China
is expected to have a positive impact on the market growth. For instance,
Hunkemöller, a Dutch lingerie brand selling shapewear, has opened their first
store in Delhi, India and plans to set up four more stores in the country in
the coming years.
In
2016, Zivame, an online lingerie retailer, planned to open up 50 stores in
India. The company claims to earn 50% of the revenue through these stores. The increasing
penetration of lingerie and fitness apparel brands across the globe has boosted
the segment growth. Moreover, rising trend of catalogue shopping in developed
economies has increased the importance of specialty store outlets.
About Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
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