Compression Wear and Shapewear Global Market Report 2024

The compression wear and shapewear market size has grown strongly in recent years. It will grow from $4.8 billion in 2023 to $5.17 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The expansion observed in the historical period can be attributed to factors such as increased awareness about health and fitness, the utilization of medical applications, influences from fashion and aesthetics, perceptions of body image, efforts to enhance athletic performance, and improvements in post-surgical recovery methods.

The compression wear and shapewear market size is expected to see strong growth in the next few years. It will grow to $6.92 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. Anticipated growth in the upcoming period is expected due to factors such as an aging population, the continuous growth of e-commerce, the focus on posture correction, increasing health consciousness, emphasis on recovering from physical activities, and the influence of the body positivity movement. Key trends projected for this period encompass the integration of smart textiles, the emergence of fashion-forward shapewear designs, a focus on inclusive sizing and body positivity, offering customization and personalization options, leveraging celebrity endorsements, and the integration of anti-cellulite and skincare features within these products.

The expansion of urban areas is playing a significant role in fueling the growth of the compression wear and shapewear market. Urbanization, characterized by the movement of people from rural to urban settings and the densification of urban populations, is driving heightened fitness awareness and sports engagement among city dwellers. This trend is poised to boost the uptake of compression wear and shapewear. As per the United Nations' Department of Economic and Social Affairs, an estimated 68% of the global population, equivalent to 2.5 billion individuals, is forecasted to reside in urban zones by 2050. Consequently, the swift pace of urbanization is expected to be a key driver propelling the growth of the compression wear and shapewear market.

The burgeoning population of health-conscious consumers is anticipated to be a key driver propelling the expansion of the compression wear and shapewear market in the foreseeable future. These consumers prioritize their well-being and actively seek means to enhance both their physical and mental health. Compression wear and shapewear offerings play a vital role in supporting these individuals by providing comfort, aiding in muscle recovery, and fostering body confidence through improved posture and contouring. For instance, as per a survey conducted in July 2022 by Food Insight, a US-based non-profit organization, out of 1,006 American participants, 52% followed specific diets or eating patterns - an increase from 39% in 2021 among which clean eating (16%), mindful eating (14%), and calorie counting (13%) emerged as the top preferences. Consequently, the surge in health-conscious consumers is a driving force behind the growth trajectory of the compression wear and shapewear market.

The prevailing trends in the compression wear and shapewear market revolve around technological advancements, which are garnering substantial attention. Key industry players are directing their efforts towards crafting innovative technological solutions that align with the preferences and demands of consumers. Technologies such as bonding, compression technology, and laser cutting have revolutionized shapewear by eliminating seams, hems, and bulky fastenings. For instance, in November 2021, Pear Compression, a Canada-based company specializing in women's wellness and clothing, introduced an advanced compression sock leveraging cutting-edge compression technology. This technology ensures adequate elasticity, crucial particularly during pregnancy, and targeted stretch in specific areas while gradually applying compression to the foot and leg, ensuring optimal comfort without excessive tightness in any particular region.

Leading firms in the compression wear and shapewear market are intensifying their efforts to introduce cutting-edge compression garments as a strategy to secure a competitive advantage in the industry. These specialized garments are tailored clothing designed to exert controlled pressure on specific body areas. For instance, in July 2023, The Marena Group, a US-based company specializing in garments, unveiled an innovative collection of lipedema garments. This collection includes post-surgical compression wear specifically crafted for lipedema procedures and management. Notably, these garments showcase the groundbreaking FlexFit Comfort Ankle, featuring a distinctive foot construction with gliding compression panels that enhance comfort and mobility without causing constriction. Constructed with TriFlex fabric, known for its 3D stretch, moisture-wicking and cooling attributes, shaping capabilities, and antimicrobial properties, these garments ensure optimal comfort, compliance, and effective outcomes.

In October 2021, The Blackstone Group, a US-based company, completed the acquisition of Spanx Inc. for $1.2 billion. This strategic move enables Spanx to accelerate its digital transformation and bolster its robust online presence in the e-commerce sector. Additionally, it empowers the company to expand its global reach and further strengthen its commitment to delivering innovative and pioneering products across an even wider range of categories to its customer base. Spanx Inc., based in the US, specializes in manufacturing shaping briefs and leggings.

Major companies operating in the compression wear and shapewear market report are Nike Inc., Adidas AG, Shein Inc., Hanesbrands Inc., Under Armour Inc., Triumph International, Wacoal America Inc., SKIMS Solutions Inc., JOCKEY International Inc., Spanx Inc., Good American LLC, EC3D Orthopaedic Inc., Hanky Panky Inc., Acme-McCrary Corporation., 2XU Pty. Ltd., Freya Lingerie Ltd., medi GmbH & Co. KG, Design Veronique, Curvy Kate Limited, Negative Underwear Inc., Anita Dr. Helbig GmbH, Ann Chery, CW-X, Leonisa S.A., Maidenform Brands Inc., Bali Bras & Lingerie LLC, Charnos Holdings Limited, Nubian Skin Inc., Dia & Co. LLC, True & Co. Inc.

North America was the largest region in the compression wear and shapewear market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the compression wear and shapewear market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the compression wear and shapewear market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Compression wear and shapewear represent the primary product types in this market. Compression wear involves snug garments worn directly on the skin, segmented by gender for targeted use. Distribution channels include multi-retail and specialty stores, along with online platforms. Market segmentation by application categorizes these products into performance and recovery, focusing on physical activity support, and body shaping and lifestyle, catering to shaping and daily wear needs based on body type.

The compression wear and shapewear market research report is one of a series of new reports that provides compression wear and shapewear market statistics, including compression wear and shapewear industry global market size, regional shares, competitors with a compression wear and shapewear market share, detailed compression wear and shapewear market segments, market trends and opportunities, and any further data you may need to thrive in the compression wear and shapewear industry. This compression wear and shapewear market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The compression wear and shapewear market consists of briefs, bodysuits, girdles, vests, and chin straps. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.