Compression Wear and Shapewear Market Growth Forecast to $6.9 Billion by 2030

Market Overview

A new report from Allied Market Research has revealed exciting insights into the compression wear and shapewear market. Titled ‘Compression Wear and Shapewear Market by Product Type, Gender, Application, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021-2030’, the study forecasts steady growth, expecting the market to reach $6.9 billion by 2030.

Driving Forces Behind Growth

Growth is propelled by several factors:

• Increased disposable income among consumers.
• Advancements in fabric technology and garment designs.
• Rising popularity of compression wear among the geriatric population.
• Shifts in lifestyles, particularly within the fitness industry.

However, the report also notes potential challenges, such as health risks associated with tight-fitting garments, which may restrain market growth.

Segment Analysis

The market shows interesting dynamics in different segments:

• Male users currently dominate the market due to higher adoption rates, especially during workouts.
• The female segment is poised for rapid growth, driven by a rising interest in fitness and stylish, comfortable clothing.

Applications and Distribution Channels

Performance and recovery garments took the revenue lead in 2020, valued at $2.96 billion. This segment is projected to experience a CAGR of 6.2%, supported by the widespread utilization of compression wear for enhanced athletic performance.

Among distribution channels, specialty retail stores accounted for 62% of sales. Yet, online sales are expected to see the highest growth rate of 8.6% as e-commerce continues to expand in accessibility and offerings.

Future Opportunities

As the market evolves, manufacturers are urged to capitalize on innovative marketing and product development strategies to enhance growth prospects. This includes exploring medical and therapeutic applications of compression wear to address conditions like lymphedema and deep vein thrombosis.

Key Industry Players

Major companies in the field include:

• Nike Inc.
• Adidas AG
• Under Armour Inc.
• Spanx Inc.
• Wacoal America Inc.

For those invested in the sector, understanding these trends and variations will be paramount for tapping into the upcoming opportunities that lie ahead in the compression wear and shapewear marketplace.