PORTLAND, Oregon and
PUNE, India, January 19, 2017 /PRNewswire/ --
A new report published by Allied Market Research, titled,
"Compression Wear and Shapewear Market by
Product, Application, End User, and Distribution
Channel: Global Opportunity Analysis and Industry
Forecast, 2014-2022," projects that
the global compression wear and shapewear market is expected to
reach $5,576 million by 2022.
Asia-Pacific would witness the
highest growth, owing to rise in government investments for
promotion of sports and changing lifestyle of consumers.
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Summary of Compression Wear and Shapewear Market Report can
be accessed on the website
at: https://www.alliedmarketresearch.com/compression-wear-shapewear-market
Growth of the market is driven by rise in disposable income of
consumers, advancements in the fabric technology & garment
designs, rise in popularity of compression wear among the geriatric
population, change in lifestyles of people, and increase in demand
for compression wear arising from fitness industry. However, health
issues such as blood clots, breathing problem, and acid reflux
caused from tightly worn compression and shapewear, restrains the
market growth. Product development and innovative marketing &
promotion strategies are anticipated to provide lucrative business
opportunities for the players in the future.
"China is expected to
become one of the major growth contributors of Asia-Pacific market in the
coming years. The ongoing investments by the Chinese
government, for the development of sports
infrastructure to encourage youth athletic participation would
provide huge impetus to China's compression
wear market. This is also attracting several
foreign athletic wear companies into the
Chinese market, thereby, further intensifying the market
competition, and at the same time, driving the market growth.
An expanding base of middle class population in China also creates huge probabilities for an
increased spending on lifestyle and luxury
goods.", states Bhawna Kohli, Manager
Research at AMR.
The compression wear segment dominated the overall market in
2015, accounting for over 70% of the market revenue, due to the
widespread usage of various types of compression wear by
professional athletes, and lifestyle users practicing recreational
exercises. Growth of this segment is also due to the vast health
benefits offered by these garments, such as improved performance,
body temperature maintenance, reduced muscle fatigue, and injury
prevention. A significant rise in number of lifestyle users in
developing regions and rising trend of using compression wear as an
athleisure wear, would contribute to the demand of compression wear
in upcoming years.
Application wise, 'performance & recovery' segment accounted
for the maximum revenue share in 2015. This segment is also
expected to register a higher CAGR of 6% during the forecast
period, owing to extensive usage of compression wear to prevent
injuries, improve blood circulation, and speed up recovery.
Among various distribution channels, specialty retail stores
segment held the highest revenue share of 62% in 2015, and is
expected to maintain its dominance throughout the analysis period.
Specialty retail stores constitute company owned outlets, which
have extensive penetration in various geographies and sell wide
product lines of compression wear and shapewear. However, online
sales channels are expected to witness a high CAGR of 9%, owing to
wide product availability on ecommerce websites and rising internet
penetration in regions of Asia-Pacific and LAMEA.
The global compression wear and shapewear market is dominated by
male users owing to higher adoption of compression wear among men.
Moreover, majority of the men also prefer to wear compression
garments during workout, further fueling the demand from the male
consumer segment. The female consumer segment is expected to grow
at a faster growth rate over the forecast period. Growing female
interest in fitness and comfortable clothing, and rise in
participation of women in sports activities are expected to
supplement the growth of the female segment. Furthermore, companies
such as Nike, UnderArmor and others have also started to target
women segment by launching new product lines and by opening women
specific stores.
The report includes country wise analysis of all four regions.
Countries analyzed under North
America include United
States, Canada and
Mexico. Under Europe, market size and forecast has been
provided for UK, Germany, France
Italy, and Rest of Europe.
Countries covered in the Asia-Pacific region include Japan, Australia, China, India,
and Rest of Asia-Pacific. LAMEA
includes Brazil, South Africa, and Rest of Latin America.
US accounted for the largest market share of around 87% in North
American market. The style trends of shapewear are continuously
changing in the US, with women being more inclined towards
fashionable and stylish shapewears. Companies such as Ann Chery, have launched metallic corsets in
order to address the changing demand of customers. Various other
popular shapewear include waist cinchers, briefs, girdles, and
corsets, manufactured by companies such as Spanx, Leonisa,
Ann Chery and others. Compression
wear have gained extreme popularity among athletes and gym goers in
US. The country is witnessing popularity of compression wear such
as bottoms and shirts. Athleisure trend of wearing compression
shirts and tights for casual & body shaping purpose has risen
among Americans.
Key Benefits of the Report
- The study provides an in-depth analysis of the global
compression wear and shapewear market with current trends and
future estimations to elucidate the imminent investment
pockets.
- The report offers a quantitative analysis from 2014 to 2022,
which is expected to enable the stakeholders to capitalize on
prevailing market opportunities.
- It presents actual historical figures for 2014 and 2015 and
provides Y-o-Y forecasts from 2016 to 2022, considering 2015 as
base.
- Value chain analysis provides a clear understanding of the
roles of different stakeholders involved.
Key market players profiled in the report are Nike Inc., Spanx
Inc., Adidas AG, Triumph International Corporation, Leonisa SA,
Wacoal America Inc., Ann Chery, 2XU
Pty Ltd., Under Armour Inc., and Skins International Trading AG.
They have adopted Product launches and partnerships as their main
growth strategies to capture a larger market share and increase
their customer base.
Read similar market research reports on Sports,
Fitness and Leisure at:
https://www.alliedmarketresearch.com/consumer-goods/sports-and-leisure-market-report
About Us:
Allied Market Research (AMR) is a full-service market research
and business-consulting wing of Allied Analytics LLP based in
Portland, Oregon. Allied Market
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companies and this helps us in digging out market data that helps
us generate accurate research data tables and confirms utmost
accuracy in our market forecasting. Each and every data presented
in the reports published by us is extracted through primary
interviews with top officials from leading companies of domain
concerned. Our secondary data procurement methodology includes deep
online and offline research and discussion with knowledgeable
professionals and analysts in the industry.
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