The global shapewear market size is expected to reach USD 3.80 billion by 2025 registering a CAGR of 7.7%, according to a new report by Grand View Research, Inc. The introduction of various products according to the type of garments is expected to support the market growth in the years to come. Growing target population across the globe is also augmenting the market growth. Changing lifestyle incurs increased investment in fitness and related accessories, which has positively impacted the market growth.
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. The female end-user segment led the global market and will remain dominant throughout the forecast period. However, the male end-user segment is anticipated to expand at the fastest CAGR from 2019 to 2025. 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.
In addition, key online retailers including Amazon, Walmart, Decathlon, and Myntra, are adding this category as main focus area. Promising growth exhibited by e-commerce platforms in emerging countries is compelling manufacturers to reorient their retail strategies for these countries, which is also driving the segment. Led by U.S., North America was the largest regional market and accounted for 38.96% of the global market share in 2018. High penetration of online as well as offline channels of distribution in the region is boosting in market growth.Moreover, willingness of consumers to spend more on fitness and body-shaping products is projected spur the market growth in the region.
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Further key findings from the study suggest:
- In terms of revenue, female end-user segment is projected to ascend at a CAGR of 7.6% over the forecast years
- Specialty stores led the global shapewear market with an overall revenue share of over 58.3% in 2018; however, the online segment is projected to register the fastest CAGR from 2019 to 2025
- North America region led the market in 2018 and is estimated to expand further at a decent CAGR over the forecast period
- Asia Pacific is projected to be the fastest-growing regional market from 2019 to 2025 on account of growing target population and rising consumer disposable income levels
- The market is highly competitive. Some of the key companies include Spanx, Inc.; .Adidas AG; Triumph International Corp.; Leonisa SA; Wacoal America, Inc.; 2XU Pty Ltd.; Under Armour, Inc.; and Ann Chery
Grand View Research has segmented the global shapewear market on the basis of end user, distribution channel, and region:
Shapewear End User Outlook (Revenue, USD Million, 2015–2025)
- Male
- Female
Shapewear Distribution Channel Outlook (Revenue, USD Million, 2015–2025)
- Hypermarket & Supermarket
- Specialty Store
- Online
- Others
