Compression Garments and Shapewear Market
The global compression garments and shaping garments market is segmented into product type, gender, application, distribution channel, and region.
Changing lifestyles, increasing consumer disposable income, high-end advancements in fabric and apparel design, and increasing demand from the geriatric population are driving the growth of the global market. —Shankar Bhandalkar
5933 NE WIN SIVERS DRIVE, PORTLAND, OR, USA, September 10, 2022 /EINPresswire.com/ — According to a new report, “Compression Wear and Shapewear Market”, the report offers in-depth analysis of changing market trends , key segments, major investment pockets, regional scenario, Porter’s five forces and competitive scenario. The Compression Garments and Shapewear Market size was valued at USD 4 Billion in 2020 and is projected to reach USD 6.9 Billion by 2030, registering a CAGR of 7.7% from 2021 to 2030 .
Compression garments and slimming garments are fitted garments designed specifically to hold the body in a certain posture. Rising disposable income of customers, advancement in fabric technology and garment design, rising popularity of shapewear among the geriatric population, and changing lifestyles are driving the growth of the market for the segment of form clothes.
The male user segment is leading the global compression garments and shapewear market, owing to higher adoption of compression garments. Additionally, majority of men also prefer compression garments during a workout, which further fuels the demand from the male consumer segment. The women’s consumer segment is expected to grow at the highest growth rate over the forecasted period, owing to the increase in women’s interest in fitness and comfortable wearables and the increase in the participation of women. women in sports.
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Additionally, companies such as Nike, Under Armour, and others have started targeting the female segment with the launch of new product lines and the creation of female-specific stores.
Among the various distribution channels, the specialty retail store segment held the highest revenue share of 62%, and is also expected to maintain its dominance. This segment constitutes company-owned outlets that have extensive penetration in various geographies and sell wide product lines of compression garments and shapewear. However, growth of the compression garments and shapewear market is expected via online sales channels with a high CAGR of 8.6%, owing to the wide availability of the products on e-commerce sites and increasing Internet penetration in Asia-Pacific and LAMEA.
When it comes to applications, the performance and recovery segment accounted for the peak revenue share of $2.96 billion in 2020. This segment is expected to grow at the highest CAGR of 6.2% during the period. forecast, due to the extensive use of compression garments to prevent injuries, improve blood circulation and speed up recovery.
The compression garments segment dominated the overall market in 2020, accounting for more than 70% of revenue, owing to the widespread use of various types of compression garments by professional athletes and recreational exercise users. The growth of this segment is driven by the vast health benefits offered by these garments, such as improving performance, maintaining body temperature, reducing muscle fatigue and preventing injuries. A significant increase in the number of lifestyle users in developing regions and the increase in the trend of using compression garments as sportswear is expected to increase the demand for compression garments.
Some of the major players operating in the global compression garments and shapewear market such as Nike Inc., Spanx Inc., Adidas AG, Triumph International Corporation, Leonisa SA, Wacoal America Inc., Ann Chery, 2XU Pty Ltd. , Under Armor Inc., and Jockey.
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Main results of the study:
○ Based on type segment, compression wear segment accounted for the highest compression wear and shapewear market share in 2020, growing at a CAGR of 8% and shapewear growing type with a CAGR of 5.1% between the years 2021 and 2030.
○ Based on gender, the male category accounted for approximately 53% of the market share in 2020. However, the female category is expected to grow at a higher CAGR of 6.1% during the forecast period, due to increasing male consumption and improving economic stability.
○ Among the distribution channel, the specialty retail store channel will show a decent growth rate in the next few years. However, COVID-19 has resulted in lower revenue generation from these sales channels in 2020.
○ Based on regions, North America accounted for about 42% of the market in terms of share and is expected to grow at a CAGR of 7.7% during the forecast period.
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