Market Research Future Insights:
By 2030, the shapewear market is anticipated to grow at a CAGR of 7.7% and reach USD 6.95 billion. Shapewears are a category of undergarments that are comprised of firm-yet-elastic materials. These shapewears' fabrics are made to tuck and nip the necessary body parts for a smooth figure. Shapewear specifically aids in reshaping the body as desired, lifting sagginess, flattening bulges, and improving posture. Shapewear is becoming more comfortable thanks to advancements in fabric manufacturing technology and the use of premium fabrics, which is further contributing to the market's appeal. Additionally, rising disposable income and easier shopping have made the market more approachable for consumers. Shapewear for lingerie is especially made to incorporate technology into intimate apparel. Shapewear's popularity is also greatly fueled by the camouflaging qualities of the shaping lingerie.
The body briefs, seamless, control camisoles, long legs, corsets, body shapers, and other categories make up the worldwide shapewear market. Since they help keep the stomach and lower back tucked in for improved shape and posture, corsets are anticipated to dominate the worldwide shapewear market over the forecast period. However, because to their reduced visibility inside any sort of clothes, seamless shapewears are anticipated to experience the quickest growth. The largest age group buying shapewear is the millennial generation, and they want more comfortable, natural-looking clothes. In addition to their aesthetic benefits, these shapewears aid in the even distribution of sagging skin and accumulated fat.
Regional Analysis:
The North American, European, Asia-Pacific, and Rest of the World regions make up the market segments for water-shapewear globally.
Due to greater awareness and strong buying power parity, North America is anticipated to dominate. However, during the anticipated period, the Asia Pacific market is anticipated to grow at the fastest rate. During the forecast period, a large population and rising disposable income among the local populace are anticipated to drive the market for shapewear. Increased participation in sports and athleisure activities is one of the other factors boosting the Asian market's expansion. Contrary to North America and Europe, corsets and other forms of shaping underwear are not common in India or other South-East Asian nations. Due to its vast population and households with better incomes than those in other Asian nations, China has the greatest market share in the Asia Pacific shapewear market. Furthermore, it is anticipated that China will place a greater emphasis in the future on sports and athletics, where the use of such inner clothing is necessary.
Key Players:
Spanx, Inc. (US), Leonisa (Colombia), Ann Chery (Colombia), Hanesbrands Inc. (US), Contourglobal PLC (UK), Miraclesuit (US), CPS Shapers Pvt. Ltd. (India), Swee Shapewear Pvt Ltd (India), Triumph International (UK), and Jockey International, Inc. are some of the global key shapewear market players.
Market Segmentation:
Type, distribution method, and geographic region are the segments used to divide the worldwide shapewear market.
Body briefs, seamless, control camisoles, long legs, corsets, body shapers, and other products are types of segmentation for the market. The store-based and non-store-based distribution channels have been used to categorise the global shapewear market.
Due to greater market awareness and penetration, the store-based sector is anticipated to dominate the shapewear market over the assessment period. Future store-based retail is anticipated to increase as market participants extend to new places throughout the world through mergers and partnerships.
Online shopping, which is not store-based, is anticipated to increase at the quickest rate due to rising internet usage and convenience of purchase. During the projected period, rising disposable income and a burgeoning athleisure industry are anticipated to support market expansion.
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