Shapewear Market Analysis 2021 Global Industry Forecast To 2023: By Size, Growth, Trends, Share, And Regional Revenue
Research Reports
Jan 07, 2021
Market Analysis
Global shapewear market is projected to grow at a notable CAGR between 2019-2023, as per the recent Market Research Future (MRFR) report. The purpose of shapewear is in helping to reshape the body that includes straightening the body posture, lifting the sagginess, and flattening the bulges.
Numerous factors are adding to the global shapewear market growth. These factors, according to the recent Market Research Future report, comprise a growing sports & fitness industry, the advent of superior fabrics, demand for lightweight fabrics, celebrity branding, and evolved garment design. Besides, the availability of different types of products such as saree shapewear, body briefs, singlets, body shapers, corsets, control camisoles, and others are adding to the global shapewear market growth.
On the contrary, increasing awareness regarding the adverse effects of wearing shapewear such as acid reflux, breathing problems, and blood clots are factors that may impede the global shapewear market growth over the forecast period.
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Market Segmentation
The Market Research Future report provides an all-inclusive segmental analysis of the global shapewear market based on type and distribution channel.
By type, the global shapewear market is segmented into body shapers, corsets, long legs, control camisoles, seamless, body briefs, and others. Of these, corsets will command the largest share in the shapewear market over the forecast period as this works wonders to maintain the lower back and stomach tucked in for the right posture and better shape. Seamless shapers, on the other hand, are predicted to grow at the fastest pace owing to its minimal visibility inside just any form of clothing.
By distribution channel, the global shapewear market is segmented into non-store-based and store-based. Of these, the store-based segment is predicted to lead the shapewear market during the forecast period for higher market penetration and visibility. Market players are predicted to expand through collaborations and mergers to new locations globally, thereby increasing the number of store-based retail in the coming days. The non-store-based segment, on the other hand, is predicted to grow at the fastest pace during the forecast period for ease of buying and rising internet penetration. Growing athleisure market and increasing disposable income are likely to help the market to grow further over the forecast period.
Regional Analysis
By region, the global shapewear market report covers the latest trends and growth opportunities across North America, the Asia Pacific (APAC), Europe, and the Rest of the World (RoW). Of these, North America will command the largest share in the market during the forecast period for the presence of several innovative fabric suppliers and leading shapewear manufacturers. Besides, increasing awareness about the fabric comfort of shapewear and its aesthetic effects are helping the region’s market to sustain. Moreover, the rising number of females into professional sports and athleisure activities are also adding to the global shapewear market growth in the region.
The global shapewear market in the APAC region will grow at the fastest pace during the forecast period for the large population and rising disposable income. Most importantly, the region is taking part in more sports activities, and increasing participation is attracting international brands in this region. Besides, the higher millennial population and increasing purchasing power on account of growing product awareness are adding to the global shapewear market growth in the region.
The global shapewear market in Europe will have notable growth during the forecast period. Factors adding to the growth of the shapewear market in the region include sociocultural factors like increasing participation in sports and gym, technological advances in the fabric production industry, and improving economy. Germany and the UK are the key contributors in the region.
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Key Players
Notable players profiled in the global shapewear market report include Jockey International, Inc. (US), Triumph International (UK), Swee Shapewear Pvt Ltd (India), CPS Shapers Pvt. Ltd. (India), Miraclesuit (US), Contourglobal PLC (UK), Hanesbrands Inc. (US), Ann Chery (Colombia), Leonisa (Colombia), and Spanx, Inc. (US). Key players have incorporated several strategies to create a foothold in the market, such as strategic alliances, mergers and acquisitions, extensive research and development activities, joint ventures, new product launches, and more.
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