Wilmington, Delaware, United States, July 20, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global shapewear market was valued at US$ 2.4 Bn in 2022 and is projected to expand at a CAGR of 5.5% from 2023 to 2031. Women are embracing shapewear as an essential part of innerwear to enhance body curves and tone the overall torso.
Shapewear are gaining traction among women for a variety of events and situations, such as before a wedding or similar event, and after weight gain, due to medical reasons such as weight gain due to hormonal disorder. Additionally, shapewear help the wearer keep body straight and firm and improve the body posture, thereby exerting positively influence on their health. Increase in adoption of abdomen-shaping wearable is expected to offer significant opportunities to companies in the market.
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Market Snapshot:
| Report Coverage | Details | |
| Market Revenue | US$ 2.4 Bn | |
| Estimated Value | US$ 3.8 Bn | |
| Growth Rate - CAGR | 5.5% | |
| Forecast Period | 2023-2031 | |
| No. of Pages | 140 Pages | |
| Market Segmentation | By Type, Control Area, Control Level, Consumer Group, Distribution Channel | |
| Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, South America | |
| Companies Covered | Hanesbrands Inc., 2XU Pty Ltd., Adidas AG, Ann Chery, Jockey Inc., Leonisa SA, Nike Inc., Spanx Inc., Triumph International Corporation, Under Armour Inc., Vedette Shapewear, Victoria's Secret, Wacoal America Inc., Yitty, Other key players | |
Key Findings of Study
Rise in Awareness About Body Positive Movement Fueling Demand for Shapewear
Experts are promoting a positive correlation or association between body consciousness and usage of shapewear among men and women. This is fueling shapewear market development. Shapewear have redefined beauty standards, and the demand for body shaping innerwear is growing significantly among women.
Recent trends indicate that the usage of shapewear and body positive movement concepts have been evolving together, with body shaping wear driving body confidence among the wearer.
Innovation in Fabrics of Shapewear Enhancing Comfort and Consumer Experience
Companies in the shapewear market are focusing on enhancing wearer comfort of shapewear. They are incorporating novel fabric materials, especially synthetic fabric, to boost breathability and obtain a comfortable fit. They are targeting wide customer base by offering size-inclusive shapewear.
Introduction of shapewear pieces that offer a thin layer of uniform compression and hence increase the comfort level is a key trend. Increase in utilization of novel fabrics for high-compression shapewear is broadening market outlook.
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Key Growth Drivers of Shapewear Market
- Steady evolution of body positive movement across the globe, especially among women, is a key driver of the shapewear market
- Increase in awareness about health and body confidence among consumers worldwide is likely to augment demand for shapewear. Rise in popularity of body shaper innerwear to reinforce the changing trends of fashion is expected to fuel market growth in the next few years.
Regional Landscape
North America is anticipated to be the dominant market during the forecast period. Considerable celebrity endorsement about how shapewear reinforces body positivity and body confidence for the wearer, constant launch of new fabrics & new designs in body shapers, and rise in awareness about shapewear through social media are important factors anticipated to augment market value in the region. Companies in the region are expanding their shapewear product line of size-inclusive shapewear This is anticipated to accelerate market development in the region in the next few years.
Rapidly changing fashion trends across Asia Pacific are expected to create significant opportunities for companies in the region. Increase in emphasis on body positivity and demand for attractive and toned body look among both women and men is anticipated to bolster the shapewear industry.
Europe is also a lucrative market for shapewear. Rise in availability of a wide range of shapes and sizes of body shaping products through e-commerce is anticipated to propel the market in the next few years.
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Competition Landscape
The business landscape is fragmented, with the presence of a large number of manufacturers and suppliers accounting for majority stake in the shapewear market.
Key players in the shapewear market are:
- Hanesbrands, Inc.
- 2XU Pty Ltd.
- Adidas AG
- Ann Cherry
- Jockey, Inc.
- Leonisa AG
- Spanx, Inc.
- Under Armour, Inc.
- Yitty
- Victoria’s Secret
- Wacoal America, Inc.
- Nike, Inc.
Segmentation
The shapewear market is segmented based on
Type
- Shaping Bodysuits
- Shaping Camisoles
- Shaping Briefs and Panties
- Waist Cinchers
- Thigh Shapers
- Shaping Bras
- Shaping Leggings
- Others (Shaping Skirts, Back Support Shapers, etc.)
Control Area
- Abdomen
- Waist
- Torso
- Thighs
- Legs
- Hips
- Other (Rear, Back, etc.)
Control Level
- Smooth Level
- Medium Level
- High Level
Consumer Group
- Women
- Men
Distribution Channel
- Online
- Offline
Region
- North America
- Europe
- Middle East & Africa
- South America
- Asia Pacific
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