0

Compression Wear and Shapewear Market Expected to Reach $ 6.9 Billion by 2030-Allied Market Research

 
2022
Compression Wear and Shapewear Market

Report Code : A01417

quote Change in lifestyles and increase in disposable income drive the market expansion. However, the industry is facing significant challenges due to the growth in awareness of probable side effects of compression & shapewear. quote

Shankar Bhandalkar
Team Lead-Research, Food & Beverages at Allied Market Research

Get 20% Free Customization In This Report
Follow us on Social Media:       
 

 

According to a new report published by Allied Market Research, titled, “Compression Wear and Shapewear Market by Product Type, Gender, Application, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the compression wear and shapewear market size was valued at $4 billion in 2020, and is projected reach $6.9 billion by 2030, registering a CAGR of 7.7% from 2021 to 2030

Compression wear & shapewear are tight-fitted apparels designed specifically to keep the body in a certain posture. 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 global compression wear & shapewear market is estimated to reach $6.95 million by 2030, growing at a CAGR of 7.7% during the forecast period. Region wise, the compression wear & shapewear market is segmented into North America, Europe, Asia-Pacific, and LAMEA. North America accounted for the highest revenue in 2020, with $1.73 million, and is further expected to reach $2.78 billion by 2030, growing at a CAGR of 5.4%. Asia-Pacific is projected to witness the highest CAGR, owing to rise in government investments for promotion of sports and change in lifestyle of consumers.

The compression wear segment dominated the overall market in 2020, accounting for over 70% of the revenue, due to the widespread usage of various types of compression wear by professional athletes and lifestyle users practicing recreational exercises. Growth of this segment is driven by the vast health benefits offered by these garments, such as improved performance, body temperature maintenance, reduced muscle fatigue, and prevention of injury. A significant rise in number of lifestyle users in developing regions and rise in trend of using compression wear as an athleisure wear are expected to increase the demand for compression wear.

Application wise, the performance & recovery segment accounted for the maximum revenue share of $2.96 billion in 2020. This segment is expected to grow at the highest CAGR of 6.2% during the forecast period, owing to extensive usage of compression wear to prevent injuries, improve blood circulation, and speed up recovery.

Among various distribution channels, the specialty retail stores segment held the highest revenue share of 62%, and is expected to maintain its dominance ahead as well. This segment constitutes company-owned outlets that possess extensive penetration in various geographies and sell wide product lines of compression wear and shapewear. However, the compression wear & shapewear market growth is expected through online sales channels with a high CAGR of 8.6%, owing to wide product availability on e-commerce websites and rise in Internet penetration in Asia-Pacific and LAMEA.

The male users segment leads the global compression wear & shapewear market, owing to higher adoption of compression wear. Moreover, majority of men also prefer compression garments during a workout, further fueling the demand from the male consumer segment. The female consumer segment is expected to grow at a highest growth rate over the anticipated period, owing to rise in female interest for fitness and comfortable clothing and increase in participation of women in sports activities. Furthermore, companies such as Nike, UnderArmour, and others have started to target the women segment with the launch of new product lines and establishment of women-specific stores.

Some of the key players operating in the global compression wear & shapewear market such as Nike Inc., Spanx Inc., Adidas AG, Triumph International Corporation, Leonisa SA, Wacoal America Inc., Ann Chery, 2XU Pty Ltd., Under Armour Inc., and Jockey.

The compression wear & shapewear market analysis shows that emergence of fitness institutions and rising engagement of consumers with healthy lifestyles will proliferate the market size during the compression wear & shapewear market forecast period. The global compression wear and shapewear market is segmented into product type, gender, application, distribution channel, and region. The report covers the study based on by product type, which includes compression wear and shapewear. Compression wear further includes different categories such as bottoms, tops, sleeves, and others (socks, stockings, and others).  Based on gender, the compression wear & shapewear industry is classified into male and female. Furthermore, application and distribution channel include performance & recovery, body shaping & lifestyle and multi-retail stores, specialty retail stores, online channels, respectively. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Key Findings Of The Study

  • Based on type segment, the compression wear segment accounted for the highest compression wear & shapewear market share in 2020, growing at a CAGR of 8% and shapewear was growing type with a CAGR of 5.1% between the years 2021 and 2030.
  • On the basis of the gender, male category accounted for about 53% of market share in 2020. However, the female category is expected to grow at a higher CAGR of 6.1% during the forecast period, owing to the increasing consumer males and improving economic stability.
  • Among the distribution channel, specialty retail stores channel will exhibit a decent growth rate over the coming years. However, COVID-19 has led down the revenue generation from these sales channels in the year 2020.
  • Based on regions, North America accounted for about 42% of the market by share and is expected to grow at a CAGR of 7.7% during the forecast period.

 

Need More Information

pr-det-talk Talk to David (Europe)

pr-det-talk Talk to Sona Padman (Americas)

5933 NE Win Sivers Drive #205,
Portland, OR 97220 United States

pr-det-phone Toll Free: +1-800-792-5285

pr-det-phone UK: +44-845-528-1300

pr-det-phone Hong Kong: +852-301-84916

pr-det-phone India (Pune): +91 2066346060

pr-det-phone Fax: +1(855) 550-5975

pr-det-phone help@alliedmarketresearch.com

 

For Media Inquiries, Please Contact

Allied Market Research
Contact Toll Free: +1-800-792-5285
Drop us an email at
media@alliedmarketresearch.com

Looking for Customization?

 Customization Request

Have a Question?

 Speak with Analyst

Any Confusion?

 Inquire Before Buying

Have a glance of the Report

  Request Free Sample
 
 

First time buyer?
Check offers and discount on this report
To get this report

Click Here
 
 

quote Compression Wear and Shapewear Market by Product Type (Compression Wear and shapewear), Gender(Male and Female), Application (Performance & Recovery, Body Shaping & Lifestyle), and Distribution Channel (Multi-Retail Stores, Specialty Retail Stores, andOnline Channels): Global Opportunity Analysis and Industry Forecast, 2021–2030 quote

View Report
 
 

Avenue: Entire Library membership of Allied Market Research Reports at your disposal

  • Avenue is an innovative subscription-based online report database.
  • Avail an online access to the entire library of syndicated reports on more than 2,000 niche industries and company profiles on more than 12,000 firms across 11 domains.
  • A cost-effective model tailored for entrepreneurs, investors, and students & researchers at universities.
  • Request customizations, suggest new reports, and avail analyst support as per your requirements.
  • Get an access to the library of reports at any time from any device and anywhere.

 
 

WHY ALLIED MARKET RESEARCH?

INFLALLIBLE METHODOLOGY

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

ANALYST SUPPORT

For complete satisfaction

CUSTOMIZATION

On-demand customization of scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save time of readers

 

Featured Readings

 
rep-img

Published Date Dec 2024

Stucco Market

Download Sample
rep-img

Published Date Dec 2024

Textile Dyes Market

Download Sample

Buy Full Version
"Compression Wear and Shapewear Market"
Purchase Enquiry

Get fresh content delivered

Get insights on topics that are crucial for your business. Stay abreast of your interest areas.

Get Industry Data Alerts

Why Allied Market Research?

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of the scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save the time of readers