Compression Wear and Shapewear Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2024-2032, Segmented By Product Type (Shapewear, Bottoms, Tops, Socks, Stockings, Others (Sleeves, etc.)), By Gender (Male, Female), By Application (Performance Recovery, Body Shaping & Lifestyle) By Distribution Channel (Supermarkets/Hypermarkets, Multi-Branded Stores, Specialty Stores, and Onl
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Consumer Goods and Retail | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationCompression Wear and Shapewear Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2024-2032, Segmented By Product Type (Shapewear, Bottoms, Tops, Socks, Stockings, Others (Sleeves, etc.)), By Gender (Male, Female), By Application (Performance Recovery, Body Shaping & Lifestyle) By Distribution Channel (Supermarkets/Hypermarkets, Multi-Branded Stores, Specialty Stores, and Onl
The global compression wear and shapewear market is anticipated to project robust growth during the forecast period on account of a rising demand of shapewear from female population, innovative offering by market players, changing preferences of consumers, increasing online presence of compression wear and shapewear brands, etc.
Skin-tight clothing such as compression wear and shapewear applies pressure to certain body regions, promotes blood circulation, and stabilizes muscles. Compression clothing helps to increase bodily balance while also regulating body temperature. Shapewear squeezes and squishes excessive fat, giving the body a slimmer appearance.
The compression wear and shapewear market has been observing high demand for shapewear from the female population since it helps women reshape their bodies, eliminate bulges, lift areas that sag, and improve posture. Shapewear is becoming more comfortable as a result of rising demand and the development of new technology. In fact, a lot of women have made shapewear a part of their regular wardrobe. Additionally, given that women tend to gain weight during this stage of life owing to pregnancy and menopause, the average age of shapewear consumers is between 38 and 42 years old. Also, according to the National Retail Federation (NRF), the United States clothing retail sales were up by 11.2% in April 2022.
COVID-19 negatively impacted this market, since people stayed home due to travel restrictions and lockdowns. Since retailers were shut during the pandemic, many retailers were not able to cater to consumer demand. The overall product arrivals dropped by approximately 64%, the week ending April 10, in 2020, compared with the same time in 2019. However, after falling around 24% in 2020, the sales of shapewear bounced back to around 41% in 2021. Moreover, market players are focusing on launching their retail retailers in order to expand their presence in the market which is further aiding the market. For instance, in 2021, Kim Kardashian launched the first pop-up store of her brand Skims, in Paris.
Furthermore, the rising popularity of these products among consumers is leading to expansion in the compression wear and shapewear market. For instance, in 2022, Skims added over 2 million new customers. Also, compression wear and shapewear market players are emphasizing on improving their marketing techniques to attract consumers. For instance, Skims' media mix is focused on the ‘Out-of-home advertising’, which is also backed by linked TV and sponsored influencer campaigns. In 2020, Skims ran a series of enormous billboard advertisements in New York and Los Angeles to mark its one-year anniversary, highlighting some of its most well-known clients. The campaign's models had over 27 million followers on social media in total. Hence, these factors are anticipated to further enhance the compression wear and shapewear market growth during the forecast period.
Additionally, a significant demand for compression wear within the sports industry has been observed. Due to the composition of the materials used in tightness clothing, they provide greater degrees of compression for a longer amount of time. Additionally, they continue to be breathable and lightweight to support all sportsmen and people during their hectic everyday routines as they recuperate from a match, a workout, or general exercise. Therefore, companies are partnering with sports organizations to expand their market share in the compression wear and shapewear market. For instance, in 2022, Cricket Scotland is announced a three-year partnership with CRX Compression. This will help the company spread awareness of CRX Compression. Hence, the demand for compression wear in the sports sector is anticipated to continue to grow as well as contribute to the overall compression and shapewear market growth during the projected period.
Rising Demand from Geriatric Population is Fueling the Growth
The geriatric population has a particularly high need for compression clothing. Moreover, the number of surgeries performed worldwide is rising quickly. Compression wear, particularly compression stockings are recommended for patients having surgery for serious wounds to ensure proper blood circulation. Compression stockings are legwear with a snug fit, that can increase circulation and reduce fluid retention in the legs. Seniors can benefit from these products in staying active and avoiding health issues like blood clots and leg swelling. This factor is driving the compression wear and shapewear market growth around the world.
New Product Launches Aiding the Market Growth
Consumers are increasingly looking for a wide variety of options to attain good quality and comfort. Therefore, the market players of compression wear and shapewear are constantly launching new products and expanding their product portfolio in order to attract more consumer base. For instance, in 2022, The Marena Group, LLC announced the launch of its new maternity brand, Marena Maternity™, which offers compression and support wear for new and expecting moms. Similarly, in 2022, Cep launched a new range of running apparel, under its ‘Run Sock Collection, which includes knee-high socks, calf sleeves, mid-cut, low-cut, and no show socks. The product claims to provides active shock absorption and blister prevention, while increasing blood flow, lessening muscle vibrations, and enhancing stability. The product is equipped with smart dry extreme air technology. The smart dry extreme air technology adapts to the changes in weather conditions. Also, in 2021, VIM & VIGR launched the ‘Energizing Spring 2022 Compression Sock Collection’, which includes compression socks, leg sleeves, and tights. The collection is developed using knitting machines designed specifically for the medical industry to offer graded compression from the ankle and through the calf. Additionally, they have a multidimensional weave with a high needle count that promotes both flexibility and breathability. Hence, this factor is expected to further enhance the compression wear and shapewear market growth during the forecast period.
Increasing Number of Celebrity Brands Boosting Market Growth
Numerous celebrities are introducing their own line of shapewear, which is drawing a significant consumer base and raising awareness of these products. For instance, in 2022, Victoria Beckham launched VB Body, a shapewear brand. Victoria Beckham's website offers VB Body, which ranges in price from USD 104 to USD 566 and comes in sizes from UK 4 to 18. Similarly, in 2022, Lizzo, an American pop star, launched her shapewear brand, ‘Yitty’, in partnership with Fabletics, Inc. Such factors are projected to further expand the market growth in the forecast period. Moreover, the presence of other celebrity brands such as Skims by Kim Kardashian, Day Won by Candice Huffine, etc. are further fueling the market growth. Additionally, they frequently introduce new products to meet the escalating consumer demand. For instance, in 2022, Skims announced the launch of shapewear for the arm.
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Market Segmentation
The global compression wear and shapewear market is segmented based on product type, gender, application, distribution channel, region, and competitional landscape. Based on product type, the market is further segmented into shapewear, bottoms, tops, socks, stockings, and others (sleeves, etc)). Based on gender, the market is segmented into male and female. On the basis of application, the market is segregated into performance recovery, body shaping & lifestyle. Based on distribution channels, the market is segmented into supermarkets/hypermarkets, multi-branded retailers, specialty retailers, and online). On the basis of region, the market is divided into North America, Europe, Asia-Pacific, South America, and Middle East & Africa.
Company Profiles
Spanx, Inc. Nike, Inc., Skims Body, Inc.
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