Market Research Report
Global Shapewear Market - 2019-2026
|Published by||DataM Intelligence||Product code||943902|
Delivery time: 1-2 business days
|Global Shapewear Market - 2019-2026|
|Published: June 23, 2020||Content info:||
The global shapewear market was worth USD XX billion in 2018 and is forecasted to reach USD XX billion by 2026, growing at a CAGR of XX% during the forecast period (2019-2026).
Shapewear is an undergarment, made up of a material that is elastic and can stay rigid. The fabrics of shapewear are designed to nip and tuck the body for a seamless figure. It helps women reshape their bodies, flatten their bulges, lift what sags, and straightens their postures.
The demand for shapewear is ever increasing. Major drivers for this rise in demand include increased popularity in body shapers, and increasing demand and development of new technology, shapewear is getting more comfortable. In fact many women have made shapewear a staple with their everyday wear. And this has caused a huge demand among consumers for lingerie that can also be used as shapewear.
Further, for new moms, it's hard to get back in shape with limited time on hands. Wearing body shapewear can help to lose 4 inches off its waist instantly. In addition, shapewear can be worn on a daily basis while enjoying everyday actives including the gym.
Shapewear's come under the bra thus helping to lift and keep bra secure in place. Also, it is beneficial for women with large breasts, because it helps reduce back pain and pressure on the spine.
However, cheap fabric usage to reduce cost of production, which results in side effects to the body is expected to hinder the market growth of shapewear in the forecast period.
Based on the distribution channel, the global Shapewear market is broadly segmented as online and offline. Among all of the distribution channel, the offline retailers dominate the market in terms of wide range of products with high product differentiation, such as body shaping garments that improve posture, boost confidence and highlight a more contoured shape and sleeker physique.
Further, in offline retail shops allow customers and consumers to go through entirely different experiences, which is still unavailable online. In addition, major factors like the smells, sounds, and human interaction that can be found at a store are hard to replace and will add fuel to the growth of the global shapewear market.
Based on the region, the global shapewear market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. Among all of the regions, North America dominates the market in terms of high popularity and high customer preference towards premium shapewear brands.
According to the data from Fashion And Retail Technology Company in 2018, shapewear is exponentially rising in popularity compared to other lingerie styles, it may be considered "boring," but the number of new shapewear arrivals on the market increased by 143% in 2018, compared to 2017.
The companies are focused on product launches in order to meet the increasing demand for shapewear product for the growing global population. For instance, in February 2019, Colombiana Boutique has launched a new women's Colombian Fajas Body Shapers collection, offering customers high-quality items at affordable prices with free US shipping. The shapewear collection offers options for a range of body types, with long, short and mid-length pieces.
Global shapewear market is fragmented with the presence of many local and international players. The versatility in product features and opportunities of market growth through new product launches is poised to intensify competitiveness among companies.
However, Triumph International, Spanx, Inc., Hanesbrands Inc., and Leonisa S.A are some of the prominent players in the global shapewear market. Triumph International is one of the major company in shapewear and is enhancing the market through product launch. For instance, in October 2016, Triumph International has introduced its Enchanted Magic Boost shapewear range. The Enchanted Magic Boost shapewear collection is all about seductive lingerie with shaping capabilities that match want to be flawlessly stylish but also need to be comfortable.