Compression Wear and Shapewear Market Overview:
Compression Wear and Shapewear Market is expected to reach $5,576 million by 2022. Compression wear and shapewear are skintight apparels, which stimulate blood circulation and stabilize muscles by exerting pressure at specific parts of the body. Compression apparel helps to improve stamina & body balance, and control the body temperature. Shapewear squeezes and squishes the excessive fat, making the body appear slimmer. Increase in disposable income of customers, advancements in the fabric technology & garment designs, rise in popularity of shapewear among the geriatric population, and change in lifestyles drive the market growth of shapewear segment.
The report segments the compression & shapewear market on the basis of type, application, gender, distribution channel, and geography. Based on type, the market is segmented into compression wear and shapewear. Compression wear segment is further categorized into bottoms, tops, sleeves, socks, stockings, and others. Bottoms are most commonly used compression wear, accounting for more than one-third of compression wear market revenue in 2015. However, sleeves segment is gaining momentum and is expected to grow at a substantial rate during the forecast period due to its lesser cost and ease of usage in combination with sportswear as well as other garments.
According to the application, the market is classified into “performance & recovery” and “body shaping & lifestyle”. Segmentation based on gender includes male and female users. Based on distribution channel, the market is segmented into multi-retail stores, specialty retail stores, and online channel. Geographic breakdown and in-depth analysis of each of the aforesaid segments are included for North America, Europe, Asia-Pacific, and LAMEA.
Segmentation of Global Compression Wear And Shapewear Market
Top Factors Impacting Global Compression Wear and Shapewear Market:
Increase in demand from geriatric population
The world’s geriatric population is expected to grow at an unprecedented rate. According to National Institute in Aging, in 2010, an estimated 524 million people were aged 65 or older‐8% of the world’s population. This number is expected to triple to about 1.5 billion, representing 16% of the world’s population by 2050. A rise in demand from elderly population has been observed owing to usage of compression garments for the treatment of edema, phlebitis and thrombosis which occur in old age. Thus, the demand for compression wear generated from geriatric population is expected to grow at a fast rate, creating huge opportunities for this segment in coming years.
Changes in lifestyles
Growing awareness for fitness is higher in urban areas and in years to come, the market would witness steady growth in semi-urban areas of developing economies. A global rise in fitness consciousness and an increasing participation in sports activities, largely contribute to the growth of this market. Rising disposable income would continue to improve the standard of living of individuals. Lifestyle users would continue to incorporate exercising into their daily fitness regimes. Furthermore, increasing replacement of gym wear from compression wear would also foster the market growth.
Advancements in fabrics & garment design
Recent advancements in fabrics incorporated into compression wear and shapewear have supplemented the growth of this market. Technologies such as bonding and laser cutting have transformed shapewear by eliminating seams, hems, and bulky fastenings. Lycra, neoprene, spandex, and nylon are the commonly used fabrics by the manufacturers. Improved fabrics are softer, more breathable, and have sculpting properties. Sankom Switzerland has introduced an exclusive line of shapewear infused with Aloe Vera, which is antibacterial and enables the shapewear to cool the body. Skins International launched a series of compression clothing infused with fabric, which is warp knitted using multiple fine quality yarns to give superior performance. Such advancements in the fabric technology continue to fuel the growth of global compression wear and shapewear market.
Increase in disposable income of customers
The global economy improved since 2009. The figure below shows the GDP growth in percentage from 2009 to 2015. According to the World Bank, the global GDP is expected to increase with a positive growth in the coming years.
GLOBAL RISE IN GDP, 2009 - 2014
Rise in GDPs of various countries has increased disposable income of individuals, enhancing the per capita expenditure over lifestyle and luxury goods. This results in increase in demand for compression and shapewear.
United States: Compression Wear and Shapewear Market:
United States is the largest revenue generating country in the global compression wear and shapewear on account of presence of large number of lifestyle users and extensive popularity of athletics and other sports. Women generate significant revenue in the shapewear segment in United States whereas men are prominent consumers of compression wear market. Several product developments have been implemented by the marketers in the region, such as Vim & Vigr, a Montana based company launched a wide range of compression socks where the buyer could customize the choice of fabric depending upon his/her comfortability. Compression bottoms, sleeves, shirts and socks & others are among the most popular compression wear products in United States while waist cinchers, bodysuits, briefs and others are among popular shapewear.
Revenue Share of Compression Wear Types: United States
Key market players profiled in the report are Nike Inc., Spanx Inc., Adidas AG, Triumph International Corporation, Leonisa SA, Wacoal America Inc., Ann Chery, 2XU Pty Ltd., Under Armour Inc., and Skins International Trading AG. They have adopted product launches and partnerships as their key growth strategies to capture a larger market share and increase their customer base.
Other players in the value chain include Acme-McCrary Hosiery Mills, Sojitz Corporation of America, Omtex Health Pvt. Ltd., Vedette Shapewear and CWX.
Key Benefits of the Report
- The study provides an in-depth analysis of the global compression wear and shapewear market with current trends and future estimations to elucidate the imminent investment pockets.
- The report provides a quantitative analysis from 2014 to 2022, which is expected to enable the stakeholders to capitalize on prevailing market opportunities.
- The report provides actual historical figures for 2014 and 2015 and provides Y-o-Y forecasts for 2016 to 2022, considering 2015 as base.
- Competitive intelligence highlights the business practices followed by leading players across various regions.
- Value chain analysis provides a clear understanding of the roles of different stakeholders involved.
Compression Wear and Shapewear Market Key Segments:
- Compression wear
- Socks, Stockings, & Others
- Performance & Recovery
- Body Shaping & Lifestyle
BY DISTRIBUTION CHANNEL
- Multi-Retail Stores
- Specialty Retail Stores
- Online Channels
- North America
- Rest of Europe
- Rest of APAC
- South Africa
- Rest of LAMEA
- Nike Inc.
- Spanx Inc.
- ADIDAS AG
- Wacoal America Inc.
- Triumph International Corporation
- 2XU Pty Ltd.
- Leonisa SA
- Ann Chery
- Under Armour Inc.
- Skins International Trading AG
Other players in the value chain include (profiles not included in the report)
- Acme-McCrary Hosiery Mills
- Sojitz Corporation of America
- Omtex Health Pvt. Ltd.
- Vedette Shapewear