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The compression wear and shapewear market is estimated to grow at a CAGR of 7.2% between 2022 and 2027. The market size is forecasted to increase by USD 2,704.28 million. The growth of the market depends on several factors, including the growing demand for plus-size clothing, the growing online sales of compression wear and shapewear, and the growing awareness about fitness and the shift toward compression wear.
This compression wear and shapewear market report extensively covers market segmentation by distribution channel (offline and online), product (compression wear and shapewear), and geography (North America, Europe, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The growing online sales of compression wear and shapewear are notably driving market growth, although factors such as counterfeit apparel products may impede market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The growing online sales of compression wear and shapewears are notably driving the market growth. Currently, online sales account for a low share of the overall sales in the market. However, they are expected to have a positive impact on the market by the end of the forecast period. The growth in internet and smartphone penetration and customer engagement practices have contributed to the sales volume and revenue of compression and shapewear vendors.
Social media provides a platform for vendors to actively engage with consumers. It plays a key role in increasing product awareness. With the rise in engagement through social networking and blogs, vendors are increasingly preferring social media to increase awareness and promote their products. Facebook, Twitter, Instagram, and YouTube are some of the powerful social media platforms used for product promotion. These factors will drive the growth of the global market during the forecast period.
The growing organized retail in emerging countries is a key trend shaping the market. Compression wear and shapewear products are mainly sold through established organized retailers. Existing vendors compete against each other to gain the maximum shelf space in organized retail stores. These stores are convenient for consumers, as they stock products from a large number of brands. Thus, consumers have multiple options to choose from.
Many consumers across the world prefer to purchase products from supermarkets and hypermarkets, which further increases the significance of organized retailers among vendors. Supermarkets offer low-cost compression wear and shapewear. Moreover, the number of supermarkets is increasing globally. For instance, the penetration of supermarkets in countries such as India, Brazil, Indonesia, Chile, and Mexico is significantly high. Therefore, the growing organized retailing in emerging countries will drive the growth of the compression wear and shapewear market during the forecast period.
Counterfeit apparel products may impede the market growth. These products use the brand names of the original brands and are sold at lower prices to attract customers. This lowers the market shares of leading brands. Counterfeit products are made of low-quality raw materials and cheap fabric that can cause allergies among people with sensitive skin. Therefore, counterfeit products harm the reputation of leading brands.
China is a key source of counterfeit products that are shipped to different countries globally. In the US, the influx of counterfeit products is affecting the country's economy, as legitimate American companies face losses. Moreover, low-quality counterfeit products can lead to negative customer experiences, which can lead to a loss of trust and loyalty toward the original brands. These factors can hinder the growth of the market during the forecast period.
The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Compression Wear and Shapewear Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Anita Dr. Helbig GmbH - The company offers compression wear and shapewear such as Anita maternity SEAMLESS Maternity Brief Panty Black and Anita Maternity BASIC Maternity Bra Black. It also offers different types of products such as bodysuits and shapers, swimwear, and others.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the offline segment will be significant during the forecast period. Department stores and specialty stores are the largest revenue contributors to the global compression wear and shapewear market.
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The offline segment was valued at USD 4,549.38 million in 2017 and continued to grow until 2021. Specialty stores stock similar products in one store. This retail format includes fast-fashion retailers. Specialty store retailers attract customers through their strategic marketing initiatives and merchandising. Department store retailers differentiate themselves in terms of store design, merchandise, and customer service. Hypermarkets and clubhouse stores mainly focus on the style-conscious population. Hence, offline distribution channels offer several advantages, such as immediate product availability, checking the products before purchasing, personalized customer service, and expert advice, which, in turn, will drive the growth of the offline segment during the forecast period.
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North America is estimated to contribute 33% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The US is the largest market in North America, followed by Canada and Mexico. The demand for innovative products is increasing among consumers, as they are willing to spend more on high-quality compression wear and shapewear. The growth of the market in North America is attributed to factors such as the high penetration of the Internet and the growing popularity of social media. The competition among online retailers is high, which encourages them to offer attractive discounts and offers. These factors will drive the growth of the market in North America during the forecast period.
This report forecasts the contribution of all the segments to the growth of the market. In addition, we have included the COVID-19 impact and the recovery strategies for each segment. The COVID-19 pandemic in 2020 had an adverse impact on several economies in the region. However, in 2021, the market registered growth once the pandemic was under control owing to vaccination drives. During the forecast period, the market is expected to recover, which will have a positive impact on market growth during the forecast period.
The compression wear and shapewear market report forecasts market growth by revenue at global, regional, & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Technavio categorizes the compression wear and shapewear market as a part of the global apparel, accessories, and luxury goods market within the textiles, apparel, and luxury goods market. The parent market, the global apparel, accessories, and luxury goods market, covers products and companies engaged in the manufacturing/marketing of apparel, accessories, and luxury goods. The market also includes companies offering apparel, accessories, and luxury goods rental services. Our market research report has extensively covered external factors influencing the parent market growth during the forecast period.
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Compression Wear And Shapewear Market Scope |
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Report Coverage |
Details |
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Page number |
157 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 7.2% |
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Market growth 2023-2027 |
USD 2,704.28 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
6.66 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Performing market contribution |
North America at 33% |
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Key countries |
US, China, Japan, UK, and Germany |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
2XU Pty Ltd., Adidas AG, Anita Dr. Helbig GmbH, Ann Chery, Design Veronique, EC3D Orthopaedic, GLOBAL INTIMATES LLC, Hanesbrands Inc., Honeylove Sculptwear Inc., Jockey International Inc., Nike Inc., Omtex Healthwear Pvt. Ltd., PUMA SE, PVH Corp., Skims Body Inc., Spanx LLC, The LYCRA Company LLC, Triumph Intertrade AG, Under Armour Inc., and Wacoal Holdings Corp. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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