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The growth of the market depends on several factors such as such as increasing smartphone penetration, along with the growing E-commerce industry, growing organized retail, and increasing focus on physical appearance and fashion consciousness. Major trends influencing the market growth include technological advancement in making shapewear, increasing focus on omnichannel retailing and increasing product innovation by vendors.
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Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the Shapewear Market. One of the major company in the market include:
Anita Dr. Helbig GmbH - The company offers shapewear such as figure-shaping bodywear and slim fitting shapewear.
The market report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Anita Dr. Helbig GmbH, Commando LLC, CPS Shapers Ltd., Glamoras World, Global Intimates Group, Gymmer, Hanesbrands Inc., Honeylove Sculptwear Inc., Jockey International Inc., Modenik Lifestyle Pvt. Ltd., Preethi Shapewear, Reliance Industries Ltd., SADABAHAR FASHION, Skims Body Inc., and Spanx LLC
Qualitative and quantitative analysis of companies 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 companies as pure play, category-focused, industry-focused, and diversified. Furthermore, it is also quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Our researchers analyzed the data with 2023 as the base year and the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Increasing smartphone penetration, along with the growing E-commerce industry is notably driving the market growth. Clothing and apparel are vital categories that have influenced the e-commerce industry. This increasing penetration of smartphones with Internet access has also helped vendors engage consumers on the go. Online shapewear shopping also offers a sense of privacy, along with getting access to a wide range of types, styles, and designs. Thus, with such advances in recent times, several vendors have begun to make their presence felt online, including those in developing countries where changing lifestyle trends have positioned lingerie as a product of regular purchase.
In addition, the cost-effectiveness of the online channel and the accessibility it provides to an increased consumer base has spurred many vendors to start selling their products online. In developed markets, e-commerce plays a significant role in the purchase of shapewear, therefore acting as a boon to the overall shapewear market. Thus, increasing smartphone penetration along with the growing E-commerce industry will drive the global shapewear market in focus during the forecast period.
Technological advancement in making shapewear is an emerging trend shaping the market growth. Technological advancements have had a significant impact on the global shapewear market. These advancements have led to the development of innovative products that offer enhanced comfort, improved performance, and better aesthetic appeal. One of the key technological trends in the market is smart Fabrics, its the integration of smart fabrics into shapewear has revolutionized the industry. Smart fabrics are embedded with sensors and electronic components that can monitor body movements, temperature, heart rate, and other physiological data. This data can be used to optimize the effectiveness of compression wear and provide valuable insights for athletes, fitness enthusiasts, and individuals seeking body-shaping benefits.
Moreover, such technological advancements are driving the growth and evolution of the global shapewear market. Consumers can now choose from a wide range of innovative products that combine functional benefits with cutting-edge technology, ultimately providing improved performance, comfort, and style, which will drive the growth of the market in focus during the forecast period.
Unpredictable raw material prices are a significant challenge hindering market growth. The global shapewear market has been facing significant challenges due to the unpredictable nature of raw material prices. This volatility in raw material pricing has created uncertainties and difficulties for manufacturers and retailers alike. The impact of unpredictable raw material prices can be felt at various stages of the supply chain. Manufacturers that rely on stable pricing to forecast their production costs may struggle to manage their budgets effectively. This could result in decreased profitability or the need to pass on the increased costs to consumers through higher retail prices.
Furthermore, unpredictable raw material prices can hinder investments and long-term planning within the apparel industry. Manufacturers may hesitate to invest in research and development or expand their production capacities if they are uncertain about their ability to secure raw materials at stable prices in the future. Thus, such factors are expected to hinder the growth of the market during the forecast period.
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The offline segment is estimated to witness significant growth during the forecast period. Department stores and speciality stores are the largest contributors to revenues in the global shapewear market. Speciality stores stock similar products in one store. Speciality stores include branded retail stores such as Jockey International. A wide range of products from different brands is stocked in speciality stores.
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The offline segment was the largest segment and was valued at USD 1.68 million in 2018. Department store retailers differentiate themselves in terms of store design, merchandise, and customer service. Besides, exclusive designer collections and private-label brands often offer a competitive advantage in this segment. Hypermarkets and clubhouse stores are predominantly focusing on the style-conscious population. With economic growth, consumers prefer upmarket and high-end wardrobe staples. Global retailers in the mass merchant channel will continue to benefit from geographically dispersed and large store networks. Hence, offline distribution channels offer several advantages, including immediate product availability, the ability to touch and feel the products before purchasing, personalized customer service, and expert advice, which will help drive the growth of the offline segment during the forecast period.
The end-user segment is categorized into men and women.
North America is estimated to contribute 34% during the forecast period.
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Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
Shapewear is mainly being sold through offline channels such as hypermarkets, department stores, specialty stores, and clubhouse stores. The US is the largest market in this region, followed by Canada and Mexico. The top three countries in the shapewear market in North America include the US, Canada, and Mexico. Among customers, there is an increasing demand for innovative products that could offer extreme comfort and support. The customers are prepared to spend on superior-quality shapewear. Some of the major factors contributing to the growth of the market are the high adoption of the Internet and the high penetration of social media.
Furthermore, the growing middle-class population prefers shopping online due to the occasional discounts offered by these players. The market in North America is fragmented, with the presence of several established vendors such as Jockey, Hanesbrands, and Under Armour. Such factors will drive the regional market in focus during the forecast period.
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Shapewear Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2023 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 8.62% |
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Market growth 2024-2028 |
USD 1.35 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
8.09 |
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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 34% |
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Key consumer countries |
US, China, Japan, UK, and Germany |
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Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
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Key companies profiled |
Anita Dr. Helbig GmbH, Commando LLC, CPS Shapers Ltd., Glamoras World, Global Intimates Group, Gymmer, Hanesbrands Inc., Honeylove Sculptwear Inc., Jockey International Inc., Modenik Lifestyle Pvt. Ltd., Preethi Shapewear, Reliance Industries Ltd., SADABAHAR FASHION, Skims Body Inc., and Spanx LLC |
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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 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. |
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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 End-user
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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