Shapewear Market Scope
Shapewear is also known as a foundation garment or shaping garment is simply underwear that is designed to just temporarily alter the shape of the body who is wearer, typically for flattening their stomach and to make them look slimmer and also more attractive in the particular outfit they're wearing over the bottom or top. It is mostly worn by women and comes in various forms, from a simple pant through to the larger one-piece garments which are covering the thighs and also the upper body. Shapewear is mostly made from Lycra or the Spandex material, which is a trademarked term for a light material made from the artificial fibres, which is basically stretchy but retains its original shape.
According to AMA, the Global Shapewear market is expected to see growth rate of 7.9% and may see market size of USD3.58 Billion by 2026.
The Shapewear market is fragmented with numerous players who are focusing on offering a wide range of innovative products to attract customers. The manufactures are also keeping an eye on the quality product for their end consumers. The companies are exploring the market in new regions by expansion, investments merger & acquisition and collaboration as a strategy. Emerging countries are to estimate positive growth due to rapid urbanization, increase in living standards and rise in disposable income over the coming years.
Triumph (Switzerland), Spanx (United States), HanesBrands (United States), Wacoal (Japan), Leonisa (Colombia), Spiegel (United States), Anita (Germany), Ann Chery (United States), Nike (United States) and Adidas (Germany) are some of the key players that are part of study coverage.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
The study have segmented the market of Global Shapewear market by Type (Control camisoles, Corsets, Body shapers, Singlets, Body briefs and Saree shapewear), by Application (Basic Use, Athletic Use and Others) and Region with country level break-up.
On the basis of geography, the market of Shapewear has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Trend
- Demand for a bodycon shaped gown and other dresses which demand to wear shapewear first
Market Drivers
- Change in lifestyle incurs increased investment in fitness and related accessories
- Rapid growth of the sports and fitness industry
Opportunities
- Potential growth in emerging countries such as India, and China
- Availability of a wide range of products, such as control camisoles, corsets, body shapers, singlets, body briefs, and saree shapewear
Restraints
- Intense competition among vendors
- Problem associated in the body with the tight shapewear
Challenges
- Fewer barriers to new entrants leading to intense competition among key brands
- Fluctuations in the prices
Key Target Audience
Shapewear Manufacturer, Shapewear Supplier, Raw Material Supplier, End Users and Others