ID: MRFR/CR/5806-HCR | 90 Pages | Published By Snehal Singh on March 2023
Shapewear Market is expected to grow at a 7.8% CAGR and reach USD 6.98 billion by 2030.
The shapewear market is expected to gain a market value of USD 6.95 billion by 2030 at a CAGR of 7.7% from 2022-2030.
Shapewear is an undergarment made of elastic material that is both flexible and rigid, designed to provide support and smooth any bulges. Shapewear fabric is created in a comfortable and unobtrusive way while looking seamless under clothing. Shapewear is perfect for occasional use as it can pull in the stomach and improve posture. Shapewear is commonly used by women to make them slimmer and was originally worn as an undergarment.
The primary factor influencing the market growth is increasing commercial advertisements, movies, and entertainment channels, due to which branded products are considered higher quality. Companies are getting better at connecting with customers by investing in various strategies like marketing campaigns and celebrity endorsements. In addition, Research and development teams from various companies have successfully created 'celebrity-inspired' clothing and other products. The factors affecting the demand for waist trainers are increasing, leading to increased sales worldwide. Moreover, the desire to be attractive and the common habit of taking and sharing selfies is increasing the demand for products that reduce tummy flatter, contributing to a growth in the shapewear market worldwide. However, with the shapewear market taking off, cheap quality fabrics are a major restraining factor hindering its growth. One of the biggest concerns among women is that shapewear will become too tight, which can be uncomfortable and cumbersome. According to an INVISTA survey, 93% of women want shaping and contouring body shapers. Most women gain weight during menopause or pregnancy, which means that a product like a body shaper would be highly desired at this stage. 46% of the women in a survey said they bought body shapers to improve their waistline and around 20% used them to enhance their entire appearance.
The COVID-19 pandemic has reversed the shapewear market trends due to the closure of shopping malls and stores. Many events and gatherings were either delayed or canceled for fear of the spread of the pandemic, decreasing the demand for shapewear during the pandemic.
As a result of the novel coronavirus pandemic, we saw a new trend in fashion. People were embracing minimalism and dressing for themselves. But now that the world is returning to normalcy after the pandemic, the demand for shapewear, intimates, and loungewear is likely to increase by the end of the forecast period.
As per research presented at the United Nations Conference on Trade and Development (UNCTAD), online shopping of fashion accessories has experienced an increase of 2% since the initial cases of the pandemic have been reported. Also, social media and society are setting unrealistic beauty standards which the consumers are blindly following. With the need to maintain a certain and trending body type, the Shapewear Market is expected to grow during the forecast period.
Increasing awareness campaigns and body positivity and acceptance are presenting major restraints for the Shapewear Market on the path of its growth. Also, due to the pandemic, people are preferring staying at home and hence, the demand is declining during the forecast period.
Shapewear has been enjoying the good limelight by now. The past decade saw the emergence of shapewear but due to wide-scale innovations in the current decade, the Shapewear Market and products have a promising future. For instance, the new moms tend to demand this on a large scale as the journey of weight loss is a slow process. It is a known fact that shapewear can help in covering approximately 4 inches and can offer ultimate support and comfort. So much so that people can wear shapewear for their normal activities like visiting the gym. An increased shapewear demand is pushing the fashion companies to increase their investment to develop shapewear assortments and also, the new companies are also targeting the production of branded products. Also, shapewear is doing transformation to target the concerns of people wanting these products for body parts like under the breast, thighs, stomach, and lower back amongst others for the target audience across the globe during the forecast period.
The Shapewear Market analysis predicts good growth for the market during the forecast period that ends in 2023. To help the potential investors and traders made investment decisions, the report helps in discussing the performance of the market segments across various regions and in various parts of the globe. The market segmentation are as follows:
Based on the vibrant consumer demands, the Shapewear Market deals in various product types like body briefs, corsets, body shapers, control camisoles, long legs, and seamless products amongst others.
The market players opt for a wider variety of customers and to cater to their demand and maintain their comfort and convenience, they make these products available and accessible through both store and non-store means. The ones who do not have satisfaction without trying the products can opt for the store purchase. However, the customers who have a thing for comfort and wish to do easy and convenient online shopping, can opt for a similar mode of purchase, and help the market grow by the end of the forecast period.
Due to the growing demand for a variety of shapewear products, the market aims to expand its operations across various global locations. Currently, the Shapewear Market is functional in major regions namely North America, the APAC region, Europe, alongside the rest of the world.
Based on the regional bifurcation of the global Shapewear Market and the trends prevailing, North American is likely to emerge as the largest market for shapewear products. The main reason behind this is the demand for the products is rising many folds and also, the market players are investing largely in product diversification. North America is home to companies like Wacoal, SKIMS, and SPANX, which are investing in conducting awareness programs that will help in spreading correct information related to these shapewear items. Also, there are innovative designs and an excellent quality of fabric that is pushing for global growth.
The major players of the shapewear market are as follows:
The report discusses the Shapewear Market insights and the impact of the pandemic on the market functions. The market aims to discuss the dynamics that help in predicting the growth rate of the market and the final valuation. The report discusses the revenue potential of the market segments in various regions and also, analyzes the recent developments undertaken by the key market players during the global forecast period.
|Market Size||USD 6.98 Billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Type, By Distribution Channel, and By Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Victoria’s Secret, Zivame, Triumph International, SKIMS, Vedette Shapewear, Spanx, Hanesbrands, Jockey International|
|Key Market Opportunities||maintain a certain and trending body type, the Shapewear Market is expected to grow|
|Key Market Drivers||Increasing athleisure and fitness activities|
North America is the largest market to grow.
Shapewear Industry Size is expected to reach USD 6.98 Billion until 2030
Victoria’s Secret, Zivame, Triumph International, SKIMS, Vedette Shapewear, Spanx, Hanesbrands, Jockey International, Miraclesuit