Compression Wear and Shapewear Market Size, Share, Growth, and Industry Analysis, By Type (Bottoms, Tops, Sleeves, Socks, Stockings, Others), By Application (Men, Women, Kids), Regional Insights and Forecast to 2031

Updated On: 15 April 2024

COMPRESSION WEAR AND SHAPEWEAR MARKET REPORT OVERVIEW

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The global compression wear and shapewear market size was USD 4961.43 million in 2021 and the market is projected to touch USD 8386.2 million by 2031, exhibiting a CAGR of 5.39% during the forecast period.

Compression and shapewear are skin-tight garments that stimulate circulation and stabilize muscles because these garments apply pressure to certain parts of the body. Compression garments help improve body balance and at the same time regulate body temperature. Shapewear compresses and pushes excess fat out of the body; therefore, the body appears relatively slimmer. Increase in disposable income, advancement in fabric technology and clothing design, rise in popularity of uniforms among senior citizens and changing lifestyle are the factors driving the compression wear and shapewear market of the uniform segment.

COVID-19 Impact: Market Growth Restrained by Pandemic due to Supply Chain Disruptions

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

COVID-19 negatively affected markets in 2020. Since the turbulent year 2020, the global pandemic caused by the outbreak of the new coronavirus has hit the business world everywhere to an unprecedented degree. The fitness industry is one of the negatively affected sectors, experiencing major disruptions due to imposed lockdowns, gathering restrictions and market closures. Consumers are limited to gyms and other sports clubs, which leads to the purchase of compression and shaping products in the market.

LATEST TRENDS

"Growing People's Awareness of Fitness To Drive Market Growth"

Nowadays, people's awareness of fitness is increasing due to the prevalence of chronic diseases. This is increasing the use of compression and shapewear for exercise around the world. In addition, the market is positively affected by the increasing participation of individuals in sports activities. In addition, various techniques such as gluing and laser cutting help eliminate seams, beads and space-consuming fasteners from compressing and shaping clothes.

COMPRESSION WEAR AND SHAPEWEAR MARKET SEGMENTATION

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• By Type

Based on type the global market can be categorized into Bottoms, Tops, Sleeves, Socks, Stockings, Others. People wear compression socks for comfort, better performance in sports and prevention of serious diseases.  Basically, they improve blood circulation. They can reduce leg pain and swelling.

• By Application

Based on application the global market can be categorized into Men, Women, Kids. The global compression wear and shapewear market share is majorly propelled by the Men population, owing to rising awareness of healthy and fit lifestyle among male youngsters.

DRIVING FACTORS

"Increasing Concerns About Fitness will Boosts the Market"

The market for semi-urban wear in emerging market economies is expected to grow gradually due to fitness awareness. Shapewear can help the body deal with the effects of aging by treating symptoms such as the hump, protruding breasts, flat chest, and loss of appetite, bucket waist, fat butt, flat hips, fat legs, club feet and more. Shapewear is definitely beneficial for women with a prolapsed bladder because it lifts and supports the bladder slightly. The market is developing due to increased awareness of fitness and participation in sports worldwide.

"Increasing Online Sales Of Compression And Uniforms Will Expand the Market"

The increasing online sales of compression and uniforms will significantly boost the compression wear and shapewear market growth. Currently, the share of online sales in the total sales of the market is small. However, these factors are expected to have a positive impact on the market by the end of the forecast period. The growth of internet and smartphone penetration and customer engagement practices has affected the sales volumes and turnover of packaging and uniform manufacturers.

RESTRAINING FACTORS

"Increased Availability of Fake Clothes Is Hindering the Growth of the Market"

Counterfeit products are fake products made from inferior materials and marketed under a different brand name and brand name without the permission of the brand owner. Counterfeit products not only hurt the company financially, but can also damage the brand, causing the company to lose consumer loyalty and trust. Fakes allow buyers to buy status at a lower price rather than quality at a higher price. Consumers desire higher social status by purchasing fakes; they want to represent what they want to be. Therefore, the main advantage of fakes is symbolic rather than functional. As a result, the number of counterfeits increases, making it difficult for the original manufacturers to market.

COMPRESSION WEAR AND SHAPEWEAR MARKET REGIONAL INSIGHTS

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"North America Dominating the Market Due To Growing Popularity of Athletics"

North America was the largest region for the compression garments and uniforms market share. North America is expected to be the fastest-growing region during the forecast period. The regions covered in the Compression and Uniforms market report are Western Europe, Eastern Europe, North America, South America and Africa. North America dominates the market in terms of market share and revenue and will continue to thrive in its dominance during the forecast period of 2023-2030. This is due to the growing popularity of athletics and other activities, as well as the fact that there are many lifestyle consumers in the area.

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Market through Innovation and Market Expansion"

The garment compression and shaping market is significantly influenced by key industry players who play key roles in market dynamics and shaping consumer preferences. These key players have extensive retail networks and online platforms that provide consumers with easy access to a wide range of options. Their strong global presence and brand recognition built consumer trust and loyalty, leading to increased product uptake. In addition, these industry giants continuously invest in research and development, introducing innovative designs, materials and smart features to meet the changing needs and preferences of consumers. The joint efforts of these major players will significantly affect the competitive situation and the future of the market.

List of Market Players Profiled

• Leonisa SA (U.S.)
• Under Armour Inc. (U.S.)
• Nike Inc. (U.S.)
• Spanx Inc. (U.S.)
• 2XU Pty Ltd. (Australia)
• ADIDAS AG (Germany)
• Acme-McCrary Hosiery Mills (U.S.)
• Sojitz Corporation of America (U.S.)
• Triumph International Corporation (Switzerland)
• Skins International Trading AG (Netherlands)
• Wacoal America Inc. (U.S.)
• CWX (Singapore)
• Vedette Shapewear (U.S.)

INDUSTRIAL DEVELOPMENT

May 2022: Kim Kardashian’s shapewear brand SKIMS have created a collection of accessible underwear in a variety of sizes, colors and accessible closures to fit many body shapes and skin tones.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.