According to a new market report published by Industry Probe, the global shapewear market is expected to reach US$ 3.9 Bn by 2027 and expand at a CAGR of 6.7% from 2019 to 2027.
New York, NY -- (ReleaseWire) -- 02/05/2020 -- According to a new market report published by Industry Probe (http://www.industryprobe.com) titled 'Shapewear Market (Type: Shaping Bodysuits, Shaping Camisoles, Shaping Briefs and Panties, Waist Cinchers, Thigh Shapers, Shaping Bra, Shaping Leggings, and Others (Shaping Skirts, Back Support Shapers, etc.); Control Area: Abdomen, Waist, Torso, Thighs, Legs, Hips, and Others (Rear, Back, etc.); Control Level: Smooth Level, Medium Level, and High Level; Consumer Group: Men, and Women; Distribution Channel: Online and Offline (Hypermarkets & Supermarkets, Specialty Stores, and Brand Stores) – Global Industry Dynamics 2018-19, Trends and Forecast, 2020–2027,' the global shapewear market is expected to reach US$ 3.9 Bn by 2027 and expand at a CAGR of 6.7% from 2019 to 2027.
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According to the report from Industry Probe, the shapewear market is expected to expand at a CAGR of 6.7% from 2019 to 2027, which garnered US$ 2,186.7 Mn in 2018. The major driving factor behind the anticipated growth of the shapewear market is the rising desire to look slim and good across the globe. The report states that the shapewear market was dominated by North America followed by Europe and Asia Pacific in 2018. Among these, Asia Pacific is anticipated to be the emerging market during the forecast period. Growing obesity and increase in disposable income are predicted to be the prominent drivers leading the growth of the shapewear market in the region.
Growing Awareness about Fitness among the Masses to Drive the Market
The market drivers leading the shapewear market include growing awareness about fitness among the masses along with the increasing participation in numerous fitness activities and sports. Additionally, improving standard of living owing to the surge in disposable income is another factor encouraging the anticipated growth of the market. The forecast for shapewear market affirms that lifestyle users will continue to incorporate exercise in their daily fitness routine. This will reassure the market that the replacement of gym wear by compression wear to keep increasing across the globe. Stress at workplaces coupled with the increasing obesity rate are some of the key factors leading to increased participation in sports and other fitness activities.
Tight Shapewear May restrain the Growth of the Market to some Extent
More often than not body shapers are perilous to one's health due to extreme use and wearing the tight shapewears. Tight shapewear often result in gastro esophageal reflux disease. Further, the acid reflux resulted from tight shapewear is also connected with the injury in the esophagus. Another market restraint is the reinvention of fashion industry in recent years – drive by a combination of anti-fit and comfortable wear. Revival of comfort in fashion industry is also hindering the growth of the shapewear market to some extent.
Shaping Bodysuits to Lead the Shapewear Market all the way through
In accordance with type, shaping bodysuits – the leading segment of the shapewear market – are majorly preferred bodysuits that are ideal to cover the full body from torso to crochet. Based on control area, abdomen is the major segment expected to dominate the market during the forecast period, followed by the waist segment. Abdomen segment contributes major share to the shapewear market and is anticipated to expand at a CAGR of 6.7% during the forecast period.
Medium Control Level Shapewear Segment to Dominate the Market
Based on control, the medium control level shapewear segment dominates the market credited to its comfort and compression at the same time. In terms of consumer group, women's segment dominates the shapewear market owing to increased desire to look slim and good. Based on distribution channel, the offline distribution channel is expected to be the most attractive segment during the forecast period due to the preference of consumers toward offline shopping. In terms of region, North America holds a major share of the global shapewear market, followed by Europe.
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The shapewear market is dominated by several players who are focused on the development of new products to cater to the rising demand for the product in the market.
The report includes the below-mentioned pointers of the major players operating in the shapewear market:
- Competition Matrix
- Company Overview
- Product Profiling
- Market Share Analysis (2018)
- Product Innovation
- Product Comparison Analysis
- Business Strategies / Recent Developments
- Technological advancements
- Key mergers and acquisitions
- Expansion strategies
- Company Financials
Major Players Covered under the Scope:
- Hanes Brands Inc.
- Spanx, Inc.
- Jockey International, Inc.
- Triumph Global Sales AG.
- Wacoal Holdings Corp
- Marks and Spencer Plc.
- PVH Corp.
- Next Plc.
- Ann Chery
About Industry Probe
Industry Probe is a global market intelligence and advisory firm with an unwavering purpose to help businesses achieve strategic objectives through a varied range of offerings. Based on a unique amalgamation of our big data technology and human intelligence, our services are dedicated to serve the businesses operating in the consumer goods and industrial machinery sectors. Our offerings comprises syndicated research, strategic consulting & advisory services, competitive intelligence, and full time engagement to bring true & actionable insights into our clients' business environment. Combining research & technology adoption, playing the perfect mix of the best data, and centered on consumer goods & industrial machinery sectors, Industry Probe believes in targeting one industry at a time.
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