Increasing demand from geriatric population and new product launches by market players are the leading factors driving the global compression wear and shapewear market during the projected period.
According to TechSci Research report, “Compression Wear and Shapewear Market – Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2018-2028F” The rising demand for shapewear from women, growing consumer awareness regarding physical appearances, increasing product innovation by market players, and rise in presence of compression wear and shapewear brands on online platforms are some of the factors driving the overall sales of the market. One of the main reasons there has been a growth in the demand for shapewear globally is the flexibility in shape that one may obtain by wearing it.
For millennials and Gen-Z buyers, shapewear is not about covering up flaws; rather, it is viewed as clothing that enhances rather than changes one’s appearance. Additionally, by toning up the extra fat from various areas such as the belly and thighs, shapewear helps contour the body and make it appear thinner, which is supporting market growth. Hence, companies are upgrading and expanding their product portfolios to provide customers with a wide range of options. For instance, in 2022, Spanx launched its fall collection which is shapewear clothing. Similarly, in 2022, Skims launched its collection of ‘Soft Smoothing Seamless’, which offers a thong bodysuit and a smoothing short, turtleneck, and tank top. Moreover, in 2020, Thermajane launched a new line of compression wear for women, which offers shirts, pants, and compression shorts. Thermajane’s fabric technology delivers moisture-wicking for dryness and cool comfort when working out at the gym or traveling.
In order to prevent circulation issues, compression apparel has been widely used in medical applications. It has also evolved to be a crucial component of the healing process after surgery, since it helps speed up skin repair and lessen bruises. Moreover, owing to assertions that compression clothing can enhance athletic performance, lower the risk of injury, and hasten to heal any muscle damage after and during exercise, compression wear has solidified its place in activewear and sportswear. At the same time, shapewear has surged in popularity as more and more people express interest in clothing that uses compression to shape their bodies.
The primary trends gaining traction in the compression wear and shapewear industry are technological developments. Major firms are concentrating on creating cutting-edge technology items to satisfy consumer tastes and wants. Shapewear has altered as a result of the elimination of seams, hems, and bulky fastenings owing to technologies such as bonding, compression technology, and laser cutting. The brand-new shapewear features an ultra-lightweight fabric with ultra-firm control.
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The compression wear and shapewear market is segmented based on product type, gender, application, distribution channel, and region. The distribution channel segment is divided into supermarkets/hypermarkets, multi-branded stores, specialty stores, and online. Out of these, the online segment is expected to register the highest growth due to factors such as a rise in the adoption of smartphones, an increase in internet users, online platforms, etc. Moreover, since online channels provide a variety of products on a single platform with their descriptions, brand details, product specifications, etc., giving consumers an alternative to the traditional store, they are expanding at the fastest rate. Online channels offer a variety of payment options and are simple as well as straightforward to use. These factors are predicted to speed up industry growth.
Key market players in the compression wear and shapewear market include:
- Spanx, Inc
- Nike, Inc.
- Skims Body, Inc.
- 2XU Pty Ltd
- Adidas AG
- Triumph Intertrade AG
- Leonisa SA
- Wacoal America, Inc.
- Under Armour, Inc.
- HanesBrands Inc.
Furthermore, companies such as Affirma Wear offer products such as chest binders, etc. which can be used by individual going through gender transition or as part of post-top surgery recovery. They offer compression shorts, shapewear, and a swimwear line.
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“Compression therapy is becoming more and more popular, and it requires patients to wear compression clothing throughout the procedure, which is enabling this industry to expand. Moreover, since market players are investing in research and development strategies and coming up with various product innovations in their offerings, this market is projected to expand at a higher rate during the forecast period.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
Compression Wear and Shapewear Market, By Product Type (Shapewear, Bottoms, Tops, Socks, Stockings, Others (Sleeves, etc.)), By Gender (Male, Female), By Application (Performance Recovery, Body Shaping & Lifestyle) By Distribution Channel (Supermarkets/Hypermarkets, Multi-Branded Stores, Specialty Stores, and Online), By Region (North America, Europe, Asia-Pacific, Middle East & Africa, South America), Competition, Forecast & Opportunities, 2018-2028F”, has evaluated the future growth potential of compression wear and shapewear and provides statistics and information on market structure, size, share, and future growth. The report is intended to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities present in compression wear and shapewear globally.
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