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Compression Wear and Shapewear Market (Industry) Size Hits $6.95 billion by 2030 | Asia-Pacific would exhibit the highest CAGR of 8.5% during 2021-2030

01-25-2023 02:51 AM CET | Fashion, Lifestyle, Trends

Press release from: Allied Market Research

Compression Wear and Shapewear Market (Industry) Size Hits

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 report offers an extensive analysis of changing market trends, key segments, top investment pockets, regional scenario, Porter's Five Forces, and competitive scenario. 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.

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To cater to the change in need of lifestyle of users globally, the compression wear & shapewear market is constantly in the process of incorporating innovative changes for the development of novel products. Major manufacturers are exploring options to improve overall user satisfaction by including odor eliminating & UPF 50+ sun protection properties within the garments.

The market is dominated by a few major players, each occupying a large share in the overall market. Shapewear was initially popular among women, but nowadays its demand has increased from teenage girls, owing to rise in consciousness about physical appearance. Shapewear, such as trunks, girdles, briefs, vests, and others, has gained popularity among men as well. The market for shapewear is expected to witness slow growth due to several side effects arising from its use and availability of multiple substitutes such as yoga pants, leggings, and others.

Compression wear, such as tights, shirts, sleeves, and others, is popular among professional athletes, and its adoption has risen among sportsmen playing baseball, basketball, and football. Moreover, athleisure trend of wearing compression shirts and pants for casual purpose is on a rise in developed countries such as U.S., UK, and others. Compression stockings and sleeves to treat health ailments have also gained demand from the geriatric population worldwide.

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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.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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