Growing Popularity of Online Sales during COVID-19 to Positively Impact Shapewear Market Growth

16/set/2020 11:41:45 Pradeep Z Contatta l'autore

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The global shapewear market is predicted to grow at a healthy CAGR between 2019- 2023, as per the recent analysis by Market Research Future (MRFR). Shapewear, simply put, are undergarments manufactured of elastic materials that also remain firm. They have been specially designed to nip and tuck the needed part of the body for a seamless figure. 

Various factors are propelling the global Shapewear Market Growth. As per the latest MRFR report, such factors include increased disposable income, an increase in fitness-conscious population, increasing use of the internet, and a rise in the penetration of e-commerce worldwide. Additional factors adding market growth include improved product quality through easy dry technology or non-vacuum based cooling, advances in fiber and material technology like advanced circular knit technology, and advancements in the manufacturing technology. 

On the contrary, the high cost of shapewear and certain side effects may hamper the global shapewear market growth over the forecast period. Besides, due to the ongoing COVID-19 pandemic, the clothing industry has witnessed checkered growth owing to unprecedented disruptions in the supply chain. The unexpected fall in the sales of clothing worldwide has impacted the shapewear market growth. But this market is likely to recover soon with the growing popularity of e-commerce/online sales. 

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Market Segmentation

The MRFR report offers an inclusive segmental analysis of the global shapewear market report based on type and distribution channel. 

By type, the global shapewear market is segmented into body shapers, corsets, long legs, control camisoles, seamless, body briefs, and others. Of these, the corsets segment will lead the market over the forecast period as corsets help to maintain the lower back and stomach tucked in for better posture and shape. Meanwhile, the seamless shapers are likely to grow at a fast pace over the forecast period for its less visibility inside all forms of clothing. These shapewears also help in the uniform distribution of accumulated fat and sagging skin. 

By distribution channel, the global shapewear market is segmented into non-store based and store-based. Of these, the store-based segment will dominate the market over the forecast period for increasing market penetration and visibility. Market players are likely to expand through collaborations and mergers to new locations resulting in more store-based retail in the upcoming future. Meanwhile, the non-store based segment is likely to grow at a fast pace over the forecast period for the growing athleisure market, increasing disposable income, ease of buying, and rising internet penetration. 

Regional Analysis

Based on the region, the global shapewear market report covers the growth opportunities and recent trends across North America, Europe, the Asia Pacific (APAC), & the Rest of the World (RoW). Of these, North America will lead the market over the forecast period. Consumers increasing willingness to invest in body-shaping and fitness products, the presence of leading companies in the region, increased penetration of offline and online channels of distribution, accessibility of huge product range, high purchasing power, and higher awareness are adding to the global shapewear market growth in the region. 

The global shapewear market in the APAC region is predicted to grow at a fast pace over the forecast period. Growing disposable income, large population size, increasing indulgence in athleisure and sports, and large population are adding to the global shapewear market growth in the region. China has the maximum share in the region. 

The global shapewear market in Europe is predicted to have sound growth over the forecast period while that in the RoW is predicted to have steady growth over the forecast period. 

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Key Players

Leading players profiled in the global shapewear market report include Jockey International, Inc. (US), Triumph International (UK), Swee Shapewear Pvt Ltd (India), CPS Shapers Pvt. Ltd. (India), Miraclesuit (US), Contourglobal PLC (UK), Hanesbrands Inc. (US), Ann Chery (Colombia), Leonisa (Colombia), and Spanx, Inc.(US). 

Note: Our team of researchers are studying Covid-19 and its impact on various industry verticals and wherever required will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.

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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

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