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. The rising demand for shapewear from women, growing consumer awareness regarding physical appearances, increasing product innovation by market players, and rise in presence of stockings and shapewear brands on online platforms are some of the factors driving the overall sales of the market. One of the main reasons there has been a growth in the demand for shapewear globally is the flexibility in shape that one may obtain by wearing it. Rapid urbanization is significantly contributing to the growth of the shapewear and stockings market. Urbanization refers to the population movement from rural to urban settings and increasing human population densities in urban areas. Growth in urbanization is increasing the awareness of the urban population for fitness consciousness and participation in sports activities and this will further drive the adoption of compression wear and shapewear. According to the research report, “Global Shapewear and Stockings Market Overview, 2023-28” published by Bonafide Research, the market is anticipated to reach market size of USD 5.8 Billion, increasing from USD 4.06 Billion in 2022.The market is projected to grow with 6.30% CAGR for 2023-28. Vendors in the market are selling their products through third-party online retailers. With the growing e-commerce industry and online compression wear and shapewear market, many new private brands largely or solely sell their products online. This is enabling them to strengthen their position in the online compression wear and shapewear market. However, third-party, multibrand, pure-play e-retailers generate the highest sales of compression wear and shapewear online. Therefore, the competition in the market is intense. A greater variety of shapewear has been introduced to accommodate various body types in recent years. As a result, companies have been able to sell more items and offer more customization options that meet consumers' needs. This boosts sales and allows companies to maintain a high level of customer satisfaction. Many factors contribute to this boom; however, one of the leading causes is the advent and proliferation of clothing sizes. The body positivity movement and acceptance of diverse body shapes have also contributed significantly to this growth. More people feel able to purchase and wear shapewear due to less pressure from society. It is not uncommon for adults in America to suffer from body image issues and dissatisfaction with their appearance. Rise in disposable income to improve the male of living of individuals, incorporation of exercising into daily fitness regimes of lifestyle users, and increase in replacement of gym wear by compression wear are also expected to foster the compression wear & shapewear market growth. The compression wear & shapewear market analysis shows that emergence of fitness institutions and rising engagement of consumers with healthy lifestyles will proliferate the market size during the forecast period. In addition, the rise in the trend of shapewear amongst the women day-by-day with more females longing for toned looks and aesthetic physique without going to the gym and dieting because of the shortage of time and work pressure will further provide potential opportunities for the growth of the body shaper market in the coming years. Based on the product type, shapewear segment is leading the market in 2022. On the other hand, the growing number of health-conscious consumers and patients suffering from venous disorders and the increased use of physical exercise as part of one’s daily routine and beauty consciousness are fuelling the market growth. Additionally, compression garments’ stylish designs and comforting fabric have replaced traditional gym outfits such as T-shirts and shorts. Thus, such lifestyle changes have propelled the growth of the global stockings market. The word "stockings" has been in use since the late 14th century - when they were first worn as an undergarment to ensure that legs remained warm and free of perspiration. Stockings can also be called tights, knee highs, or pantyhose. Body shaping and lifestyle application is dominating the global market in 2022. In recent years, there has been a growing trend towards more sustainable and eco-friendly shapewear and stockings, with many brands introducing products made from recycled materials or using eco-friendly production methods. The shapewear market is dominated by established brands such as Spanx, HanesBrands, and Wacoal, while the stockings market is more fragmented, with many regional and local players. Men's shapewear is a growing segment of the market, driven by changing attitudes towards body image and a growing acceptance of men's shapewear as a legitimate fashion item. The shapewear and stockings market is unique in its combination of functionality, comfort, versatility, and cultural significance. These factors contribute to the popularity of these products around the world and make the market a dynamic and interesting one to watch. The shapewear and stockings market has traditionally been dominated by North America and Europe, but there are significant opportunities for growth in emerging markets, such as Asia-Pacific, Latin America, and Africa. As disposable incomes rise and consumer awareness of these products increases, demand for shapewear and stockings are likely to grow in these regions. There is an opportunity for shapewear and stockings manufacturers to innovate in terms of materials and design. For example, they could introduce new fabrics that offer greater comfort and breathability, or new designs that provide better support and shaping. According to the report, the market is segmented into various distribution channels including hypermarket & supermarket, speciality stores, online and others. Among them, speciality stores segment is leading the market. Many shapewear and stockings manufacturers sell their products through traditional retail stores, such as department stores, lingerie shops, and specialty stores. Customers can browse the products in-store, try them on, and purchase them on the spot. Many manufacturers sell their products to wholesale distributors, who in turn sell them to retailers. This allows manufacturers to reach a wider audience and can help retailers to access a broader range of products. Also, there are a growing number of multi-brand e-commerce platforms that specialize in shapewear and stockings. These platforms offer products from multiple manufacturers, allowing customers to compare products and find the best deals. On the other hand, the rise of e-commerce has led to the growth of online retailers that specialize in shapewear and stockings. These retailers offer a wide range of products and often provide detailed product information, customer reviews, and sizing charts to help customers make informed purchasing decisions. Some shapewear and stockings manufacturers sell their products directly to consumers through their own e-commerce websites. This allows them to control the customer experience and collect valuable data on customer preferences and behaviour. Covid-19 Impacts: The economic downturn caused by the pandemic has led to reduced consumer spending, with many consumers cutting back on discretionary purchases such as shapewear and stockings. The pandemic has disrupted supply chains, making it more difficult for manufacturers to produce and distribute shapewear and stockings. The cancellation or postponement of social events such as weddings and parties has led to a decrease in demand for special occasion shapewear and stockings. However, with more people staying at home and working remotely, the demand for comfortable clothing, including shapewear and stockings, has increased. With physical stores closed or operating at reduced capacity, there has been a surge in e-commerce sales for shapewear and stockings. Consumers have been turning to online shopping to fulfil their needs. The pandemic has led to a greater focus on health and wellness, with many consumers seeking out products that promote well-being, such as shapewear that provides support or compression stockings. Recent Product Launches: • In 2021, Hanes launched a new line of shapewear called Power Shapers. The line includes a range of products, including shaping shorts, camisoles, and bodysuits. • In 2020, Falke launched a new line of tights and stockings called Leg Aesthetics. The line includes a range of products designed to provide both support and style. • In 2020, Spanx launched a new line of faux leather leggings. The leggings are made from a stretchy, leather-like material and are designed to be both comfortable and stylish. • In 2019, Nike launched it’s first-ever hijab for athletes. The Nike Pro Hijab is made from a lightweight, breathable fabric and is designed to provide comfort and coverage during sports activities. • In 2019, Kim Kardashian West launched her own line of shapewear called Skims. The line includes a variety of shapewear products, including bodysuits, shorts, and bras. Major Companies present in the market: Jocky International, Inc., Victoria's Secret, Triumph International, Vedette Shapewear, Spanx Llc, Hanesbrand Inc, Miraclesuit, Adidas Inc, Leonisa S.A., Wacoal Ltd Considered in this report • Geography: Global • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028 Aspects covered in this report • Global Shapewear & Stockings market with its value and forecast along with its segments • Region-wise Shapewear & Stockings market analysis • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation Regions covered in the report: • North America • Europe • Asia-Pacific • South America • Middle-East & Africa By Product Type: • Shapwear • Stockings By Application: • Body Shaping and Lifestyle • Performance and lifestyle By Material: • Polyester • Nylon • Cotton • Others By Distribution channel: • Hypermarket/Supermarket • Specialty Stores • Online • Others By End User: • Men • Women By Shapewear: • Body Shapers • Seamless • Body Briefs • Long Legs • Control Camisoles • Corsets • Others By Stockings: • Thigh High • Knee High The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Shapewear & Stockings industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.
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