Shapewear is also known as basic clothing or the modeling clothing which is simply innerwear designed to momentarily modify the shape of the body after wearing it. The prime objective of such wear is to even out the stomach and make one look slimmer and also more attractive in the outfit on top or above wear down. Moreover, these are widely worn by the women & thus come in various attractive forms, from a simple pant to a larger one-piece garment. Shapewear consists mainly of Lycra or the spandex material, which is a term that is characterized for a light material of artificial fibers, which is basically elastic, but preserves its original form.
As per analysis, “Shapewear Market: Current Analysis and Forecast (2021-2027)” the key companies operating in the global shapewear market include Leonisa SA, Spanx Inc., Triumph International Corporation, And 2XU Pty. Ltd, Wacoal America Inc., Nike Inc., And Skins International Trading AG, Ann Chery, Under Armour Inc. and among others. In order to increase their presence and strengthen their market position, companies depend on strategic alliances. Moreover, by the forecast period it is expected that the organizations will partner with the small and medium-sized businesses to further expand their shapewear product deals.
In terms of gender, shapewear market can be segregated as male and female. Female segment dominates the global market owing to increase in product launches for females and advancements in shapewear fabrics. In terms of type, market can be segregated as sneaker, body shapers, leggings, joggers, seamless, corsets and others. Body shapers provide numerous benefits including instant slimming figure, posture support and contribute to burning the calories. In addition, in terms of the application, market can be segregated as online channel and offline channel. Online segment is expected to witness higher growth rate due to increase in importance given to the online platforms to purchase surfing apparel & accessories during the forecast period.
The shapewear market is driven by rapid growth of the sports & fitness industry, followed by rise in awareness about ideal body shapes, increase in attention to a slim physical appearance among the people, change in lifestyle and increase in investment in fitness & related accessories. However, problem associated in the body with the tight shapewear and intense competition among vendors may impact the market. Additionally, potential growth in emerging countries and rise in availability of an extensive range of products for instance corsets, body shapers, control camisoles, body briefs, singlets, and saree shapewear are leading opportunities for market. Moreover, rise in demand for bodycon shaped gown & other dresses is a major trend for market.
Based on regional analysis, the North-America is a leading region in global shapewear market owing to presence of a large number of sophisticated consumers coupled with widespread popularity of athletics & sports across the region. The Asia-Pacific and Europe regions are predicted to witness higher CAGR due to advancement in fabric technology and more comfortable garments, increase in disposable income and growth in population over the forecast period. It is projected that future of the global shapewear market will be bright because of growth in participation in sports during the forecast period.
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Ankur Gupta, Head Marketing & Communications