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COVID-19 Impact on Shapewear Market Trend | Growth Opportunities, Key Players Review, Business Developments and Forecast to 2023

Jul 17, 2020 3:50 PM ET
iCrowd Newswire – Jul 17, 2020

Market Insight

Shapewears are a type of undergarments made up from the materials that are elastic and can also remain firm. Fabrics used to make these shapewears are designed to tuck and nip the required body part for a seamless figure. Specifically, shapewears help to reshape the body as desired, lift the sagginess, flatten out bulges, and straighten the posture. Development in fabric manufacturing technology and the use of premium fabrics is making shapewears more comfortable, which is further helping to increase the market appeal.

Moreover, increasing disposable income and buying convenience has led to the market become more approachable to the buyers. Lingerie shapewears are specifically designed to bring technology into the intimate apparels. The camouflaging attributes of the shaping lingerie is also contributing immensely to the popularity of shapewears.

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Key Players

Some of the key players in the Global COVID-19 Impact on Shapewear Market are Spanx, Inc.(US), Leonisa (Colombia), Ann Chery (Colombia), Hanesbrands Inc. (US), Contourglobal PLC (UK), Miraclesuit (US), CPS Shapers Pvt. Ltd. (India), Swee Shapewear Pvt Ltd (India), Triumph International (UK), Jockey International, Inc. (US).

Market Segment

Based on the type, the global shapewear market is divided into body briefs, seamless, control camisoles, long legs, corsets, body shapers, and others. Corsets is expected to dominate the global shapewear market during the forecast period as it is helpful in maintaining the stomach and lower back tucked in for better shape and posture. However, seamless shapewears are expected to be the fastest growing type of shapewear due their less visibility inside any type of clothing. The millennial population are the major age group involved in purchases of the shapewears and are expecting more natural looks and comfort in them. Apart from the aesthetic aspects of the type of shapewears, they also help in the uniform distribution of sagging skin and accumulated fat.

Global COVID-19 Impact on Shapewear Market has been divided based on distribution channel into store-based and non-store-based.

The store-based segment which is expected to dominate the shapewear market during the assessment period due to higher market visibility and penetration. The market players are expected to expand through mergers and collaborations to new locations globally giving rise to more store-based retail in the future.

However, non-store-based segment, which is online shopping, is expected to grow fastest due increasing internet penetration and ease of buying. Increasing disposable income and growing athleisure market is expected to further help the market growth during the forecast period.

Regional Analysis

Global Water-Shapewear Market has been segmented by North America, Europe, Asia-Pacific, and the Rest of the World.

North America is expected to dominate due to higher awareness and high purchasing power parity. However, market of Asia Pacific is expected to propel with the fastest growth rate during the forecast period. Large population size and growing disposable income of the population in the region are expected to fuel the market of shapewears during the forecast period. Other factors propelling the Asian market growth include increasing indulgence in sports and athleisure activities. However, shaping lingerie such as corsets is not popular in India and other South-East Asian countries unlike North America and Europe. China holds the largest market share in the Asia Pacific shapewear market due to large population size and higher income households compared to other Asian countries. Also, China is expected to give more importance to the sports and athletics in the future where the use of such inner clothing is required.

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NOTE: Our Team of Researchers is Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.

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