Global Shapewear Market Size, Share, Sector / Industry Report & Analysis 2020, & Forecast 2021-2026 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Global Shapewear Market


The global Shapewear market size is projected to reach US$ 4.09 billion by 2026, from US$ 2.62 billion in 2020, at a CAGR of 7.7% during 2021-2026. Shapewears are foundation undergarments, which are designed to temporarily alter the body shape. Growing target population across the globe is augmenting the market growth. Moreover, the introduction of various products according to the type of garments is expected to support the market growth in the years to come.

Changing lifestyle incurs increased investment in fitness and related accessories, which has positively impacted the market growth. In addition, rapid growth of the sports and fitness industry is likely to drive the shapewear market. Furthermore, advent of superior fabrics, which enable body balancing, as a result of technological developments will drive the market further.

Moreover, availability of a wide range of products, such as control camisoles, corsets, body shapers, singlets, body briefs, and saree shapewear, is likely to contribute to the market growth. Online channel of distribution is the fastest-growing segment owing to rising penetration of digital media and marketing. Increasing number of internet users, particularly in developing economies like China, India, and Brazil, have boosted the online market for shapewears.
Moreover, key online retailers including Amazon, Walmart, Decathlon, and Myntra, are adding this category as main focus area. Led by U.S., North America was the largest regional market and accounted for 38.96% of the global market share in 2018. Willingness of consumers to spend more on fitness and body-shaping products is projected spur the market growth in the region. However, rising awareness about the adverse effects of these products, such as blood clots, breathing problems, and acid reflux, is expected to restrain the market growth.

Market Segmentation, Outlook & Viewpoint: Global Shapewear Market

End User Market Segmentation & Outlook (Revenue, USD Million; 2014 - 2025)

  
Male
  
Female

Distribution Channel Market Segmentation & Outlook (Revenue, USD Million; 2014 - 2025)

  
Hypermarket & Supermarket
  
Specialty Store
  
Online
  
Others

Key Players, Recent Developments & Regional Insights: Global Shapewear Market

On the basis of end users, the market has been bifurcated into male and female end users. The female end-user segment led the global market in 2018 and accounted for over 94% of the market share. The segment is anticipated to remain dominant even during the forecast period mainly due to the availability of a wide range of products, such as control camisoles, corsets, body shapers, singlets, body briefs, and saree shapewear. Moreover, manufacturers are introducing innovative products that focus on different areas of the body. On the other hand, the male end-user segment is projected to register the fastest CAGR of more than 8% from 2019 to 2025.

Distribution Channel Insights

Specialty stores is the largest channel of distribution. It accounted for more than 58% of the global shapewear market share in 2018. Increasing number of apparel retail outlets, especially in emerging countries like Brazil, India, and China is expected to have a positive impact on the market growth. For instance, Hunkemoller, a Dutch lingerie brand selling shapewear, has opened their first store in Delhi, India and plans to set up four more stores in the country in the coming years.

In 2016, Zivame, an online lingerie retailer, planned to open up 50 stores in India. The company claims to earn 50% of the revenue through these stores. The increasing penetration of lingerie and fitness apparel brands across the globe has boosted the segment growth. Moreover, rising trend of catalogue shopping in developed economies has increased the importance of specialty store outlets.

Online channel of distribution is projected to expand at the fastest CAGR of 8.4% from 2019 to 2025 owing to the increasing influence of digital media and marketing. Increasing number of internet users, particularly in emerging countries like India, China, Mexico, and Brazil, has boosted the online sales channel segment. Thus, promising growth for e-commerce platforms in emerging countries is compelling manufacturers to reorient their retail strategies for such regions. Moreover, major online retailers like including Amazon, Decathlon, and Myntra are adding this category as main focus area. Moreover, online retail channels are widely used in developed countries for purchasing consumer goods and apparels, which supports segment development.

Regional Insights

Led by U.S. North America was the largest regional market in 2018. Availability of a wide product range and increased penetration of online as well as offline channels of distribution are driving the regional market further. Presence of major companies in the region also boosts the market development. Moreover, willingness of consumers to spend on fitness and body-shaping products contributes to the regional market growth.

Asia Pacific is expected to witness the fastest CAGR from 2019 to 2025 on account of rapid urbanization and growth of fitness industry leading to the advent of innovative products. China has the largest production of shapewear in this region and is one of the top exporters in the world. In addition, increasing usage of online portals for shopping is expected to fuel the product demand in future.
Shapewear Market Share Insights

Some of the key manufacturers in the market include Nike, Inc.; Spanx, Inc.; .Adidas AG; Triumph International Corp.; Leonisa SA; Wacoal America, Inc.; Ann Chery; 2XU Pty. Ltd.; Under Armour, Inc.; and Skins International Trading AG. These companies focus on product and technological innovations to gain a greater market share.

Key Insights Covered: Global Shapewear Market

1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Shapewear industry.
2. Global major manufacturers operating situation (sales, revenue, growth rate and gross margin) of Shapewear industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Shapewear industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Shapewear industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Shapewear industry.

Research Methodology: Global Shapewear Market

  
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
  
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
  
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other