Compression Wear and Shapewear Market to Reach $6.95 Billion by 2030
The global compression wear and shapewear market is projected to reach $6.95 billion by 2030, with a CAGR of 7.7%. Growth is driven by increased disposable income, fabric advancements, and rising fitness consciousness.
Portland, OR – The global market for compression wear and shapewear is forecast to reach $6.95 billion by 2030, growing at a compound annual growth rate (CAGR) of 7.7% during the forecast period, according to a new report by Allied Market Research.
The market's expansion is attributed to several factors, including rising disposable income, advancements in fabric technology and garment design, and the increasing popularity of shapewear among older demographics. Changing lifestyles and a growing emphasis on health and wellness are also contributing to market growth.
North America led the market in 2020 with $1.73 billion in revenue and is expected to reach $2.78 billion by 2030. The Asia-Pacific region is projected to experience the highest CAGR, fueled by government investments in sports promotion and evolving consumer lifestyles.
While the COVID-19 pandemic negatively impacted the market in 2020 due to lockdowns and restrictions on social gatherings affecting fitness facilities, a recovery and sustained growth are anticipated. The report notes that direct-to-consumer sales channels have seen increased activity.
The market is segmented by product type (compression wear and shapewear), gender (male and female), application (performance & recovery, body shaping & lifestyle), and distribution channel (multi-retail stores, specialty retail stores, and online channels).