According to the report published by Allied Market Research, the global compression wear and shapewear market was estimated at $4.03 billion in 2020 and is expected to hit $6.95 billion by 2030, registering a CAGR of 7.7% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
Change in lifestyles, rise in disposable income of consumers, high-end advancements in fabrics & garment design, and surge in demand from the geriatric population drive the growth of the global compression wear and shapewear market. On the other hand, increase in awareness of potential side-effects of compression wear and shapewear restrains the growth to some extent. Nevertheless, innovations in products & marketing are expected to create lucrative opportunities in the industry.
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- The consumers were restricted to join gyms and other fitness clubs, especially during the initial phase of the pandemic, resulting in lower purchase of compression and shape wear products, which in turn impacted the global compression wear and shapewear market negatively.
- Nevertheless, as the global situation gets better, the market is projected to revive soon.
The global compression wear and shapewear market is analyzed across application, distribution channel, gender, product type, and geography.
Based on product type, the compression wear segment accounted for the major share in 2020, holding nearly four-fifths of the global market. The same segment would also grow at the fastest CAGR of 8.0% throughout the forecast period.
Based on gender, the male segment generated the highest share in 2020, accounting for more than half of the global market. The female segment, on the other hand, is projected to manifest the fastest CAGR of 6.1% from 2021 to 2030.
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Based on region, the market across North America held the lion’s share in 2020, garnering more than two-fifths of the global market. The Asia-Pacific region, however, is expected to cite the fastest CAGR of 8.5% by the end of 2030.
The key market players analyzed in the global compression wear and shapewear market report include Spanx Inc., Adidas AG, Triumph International Corporation, Jockey Inc., Leonisa SA, Wacoal America Inc., Ann Chery, 2XU Pty Ltd., Nike Inc., Under Armour Inc. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.
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