Global Shapewear Product Market

The global shapewear market size is estimated to reach 4.70 billion by 2030, extending at a compound annual growth rate (CAGR) of 8.0% from 2022-2030, and it was calculated at USD 2.9 billion in 2022. Shapewear is evolving and increasingly widespread. Compared to other lingerie types, the number of new shapewear debuts in 2018 increased by 143 percent over 2017. Due to various development offerings, newcomers have disrupted the market. It includes more fashionable products like bandeaus, tanks, and leggings in different fashion-forward fabrics, including limited leather. While technological improvements and fit have fueled the business, the concept of shapewear is also transforming. Shapewear businesses have been forced to question traditional prejudices and deliver their products more approachable and modernly due to cultural developments toward body positivity and inclusion, tempting a new set of customers.

What are Shapewear Products?

Shapewear is a kind of undergarment that is used by women & men to give the perfect look or figure. It is normally designed to flatten the stomach and make people look slimmer. The material to make shapewear supports the nipping and tucking of the body and supports obtaining a seamless figure where excess fat does not protrude, release or look uncomfortable. The main idea behind shapewear is to cover the body and suit the clothing worn. Also, Shapewear Market is known to improve body shape.

Growth Drivers

Growing self-awareness about perfect body shapes Improving one’s aesthetic glamour is considered a purpose for multiple global fashion consumers. Social media and society have set up ideal and desirable looks as measures that customers try to simulate. They have evolved more conscious of how the world considers them, and consequently, there has been a passion for achieving a certain body type and maintaining a standard of beauty. The flexibility in shape and the rigidity that one can get by wearing it are two of the reasons why there has been an increase in the demand for shapewear worldwide. Consumers on a global scale are enlightening themselves on the different types of innerwear they can wear for different occasions and requirements. Moreover, shapewear helps women bypass their body routines and temporarily acquire seamless figures. Women have been more open to testing new styles and looks in the Internet era, and they want to pursue fashion influencers and be trendsetters themselves. As a result, their outerwear preference has become, and women are increasingly experimenting with various Indian and Western clothing looks.

Opportunities

Innovations in Shapewear Products will boost the demand.

The shapewear market has existed for a long time now. In the past decade, only a few inventions have been created in the market. For new moms, it’s difficult to get back in shape with limited time on their hands. Wearing body shapewear can support the loss of 4 inches of waste immediately. Also, shapewear can be worn while relishing day-to-day activities, including the gym. Shapewear comes under the bra, thus allowing you to lift and hold the bra securely in position. Also, it is useful for women with large breasts because it helps relieve back pain and strain on the spine. Due to the growing need for shapewear, many fashion businesses have expanded their varieties, and new businesses have come onward with their branded products. Kim Kardashian West launched Skims Solutions in September 2019. The Kardashians’ shapewear collection presented a mixture of common fashion blunders like red carpet blunders, visible bra straps, and unflattering belly rolls; these were resolutions to nagging issues that the multiple beautiful fashionistas undergo.

Restraints

Growing awareness movements, body positivity, and endorsement show major restraints for the Shapewear Market’s growth path. Also, due to the pandemic, people choose to stay at home, so the demand is dropping during the forecast period.

Pre-Covid-19 Impact on the global Shapewear Product market

Before the COVID-19 era, a Rise in disposable income to improve the male of living of individuals, incorporate exercising into daily fitness rules of lifestyle users, and an increase in replacement of gym wear by contraction wear were also desired to foster the compression wear & shapewear market growth. The contraction wear & shapewear market research indicates that the emergence of fitness organizations and rising engagement of customers with healthy lifestyles will increase the market size. Before the COVID-19 outbreak, the fabrics incorporated into contraction & shapewear have increased the growth of this market. Bonding and laser cutting have transformed shapewear by stopping seams, hems, and bulky fastenings. Lycra, neoprene, spandex, and nylon are normally used fabrics by manufacturers. Improved materials are smoother, more breathable, and keep toning effects.

Covid-19 Impact on the global Shapewear Product market

The COVID-19 outbreak on the shapewear market movements and the closure of shopping malls and stores have harmed the market for shapewear. The coronavirus pandemic affects the global economies, presenting examples like social distancing. Also, many occurrences and assemblages are postponed or balanced due to the fear of the spread of the pandemic. People usually support shapewear, which is more common while wearing costumes for social crowds. Hence, the demand for the products is declining during the pandemic. The novel coronavirus pandemic has crashed new market trends in an alternate sense. People are recompensing their homebodies and clothing to impress themselves. Hence, the market for shapewear and other connected materials like intimates and loungewear will likely rise by the end of the forecast period.

Post Covid-19 Impact on the global Shapewear Product market

After the COVID-19 explosion, the demand for compression wear and shapewear products declined in 2020 as buyers and consumers stayed home. Canceling various events worldwide has negatively impacted the compression wear & shapewear industry. The fitness industry is one of the negatively impacted sectors that has witnessed significant disruptions due to imposed lockdowns, restrictions on social gatherings, and market closures. Consumers can join gyms and other fitness clubs, resulting in lower purchasing compression and shapewear products.

By Product Type Segmental Analysis

The global Shapewear market is segmented into five types based on different product types. These are Body Briefs, Control Camisoles, Waist Clinchers, and Body Shapers. Out Of these products, the body shapers product segment pushes up the highest part of the market share in the product segment for shapewear. Body shapers deliver various advantages such as posture support, instant slimming body, burning calories, and concealing well by hiding under clothes. Moreover, they are easily fabricated as the raw material, and the operating cost is low. A survey indicated that over 46% of women bought body shapers to enhance their waist shape; around 20% obtained them to make their whole body look more presentable. The body shaper segment is predicted to overlook the market during the forecasting period as the market keeps increasing, and companies are expected to focus more on creating better quality body shapers.

By Distribution Channel Segmental Analysis

The online segment is expected to detect considerable CAGR over the forecast period. The advancement of the online segment can be explained by technical advancements and the increasing prominence of online media for purchasing surfing apparel and accessories, particularly for customers looking for deals. The major target demographic for online media is customers who buy things without physically examining them. Most manufacturers have diverted to the direct sales approach to boost product sales and profit margins. Customers have started to change their shopping patterns due to the COVID-19 pandemic, choosing to purchase online to deter direct connection with other customers at retail platforms. The pandemic has flashed a digital process in various industries, including shapewear.

By Regional Segmental Analysis

North America controls the shapewear market and expects the largest revenue share in 2021. It is due to the across-the-board favor of athletics and sports and an extensive number of cultivated consumers. The most famous contract wear articles contain bottoms, shirts, sleeves, and socks, while waist cinchers, bodysuits, and briefs are popular shapewear articles in the United States. This market is also launched because of the region’s growing clothing and textile market. The demand for shapewear products in Asia is anticipated to grow at a CAGR of 8.5% over the forecast period. In Asia, startups, recent entrants, and household firms have been smashing into the shapewear enterprise by creating new products for men and women. Like India and China, developing countries have revised their fabric technology and funded R&D to deliver more innovative products.

Competitors Analysis

The prominent players include Nike, Inc., Adidas AG, Spanx Inc., Triumph International Corporation, Leonisa, Wacoal America, Inc., Ann Chery, 2XU Pty. Ltd., Under Armour Inc., and Skins International Trading AG. Key Stakeholders

• Regulatory bodies
• Market research and consulting firms
• Local governments
• Suppliers
• Retailers

Recent Development

• In 2019, Page Industries Ltd’s acquired its license agreement with Jockey International Inc. till December 31, 2040, to increase its remuneration in the coming years.
• In 2018, through a succession of investments, Under Armour spent more than US$ 700 million on connected-fitness organizations such as MapMyFitness and Endomondo to maintain its brand portfolio.
• In 2017, Spanx, Inc. established an assemblage of shapewear (body shapers) for brides. The company presented products in different sizes to target each segment. The collection varies from sizes XS to 2X.

Scope of the Report

Report Attribute	Details
Market Size Value in 2020	USD 1.9 Billion
The revenue forecast in 2027	USD 3.70 Billion
Growth Rate	CAGR of 8.0 % from 2020 to 2027.
Historical data	2017-2019
Forecast period	2021 – 2027
Region covered	North America, Europe, Asia-Pacific, South America, and Middle East & Africa
Key companies Profiled	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 are the key players.

UAE Luxury Car Market

Packaging and Labeling Market

Cloud Kitchen Market

Tube Packaging Market

Industrial Control and Factory Automation Market

Data Protection as a Service Market

Ventilators Market

Semi-Autonomous and Autonomous Bus Market

India Four-Wheeler Light Commercial Vehicle Market