In 2018, the global Body Shaper market size was valued at US$ 2,246.5 million and is growing with a CAGR of 6.91% during the forecast period and sales were 66,414.1K units this is projected to grow with a significant CAGR during the forecast period.
The global body shaper market is witnessing growth due to the increasing inclination of people towards leading a healthy lifestyle. In addition to this, favorable trade policies, growth in the production of apparels, rising per capita income, favorable demographics, and rising consumer preference for branded products are also propelling the demand for body shapers during the forecast period.
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The E-commerce segment is dominating the body shaper market with a 66.0% market share in the year 2018 and is expected to witness similar growth trends during the forecast period.
Body Shaper Market Dynamics:
The Body shaper market is witnessing growth due to the increasing athleisure & fitness activities and growing beauty consciousness. Moreover, the market for shapewear is getting popular among women day-by-day, with more and more women longing for the toned look and aesthetic physique. Due to work pressure, they are opting for body shapers/shapewear to get a toned look. Lightweight fabrics evolved garment design, and celebrity branding is also increasing the demand for shapewear among women.
Another factor that is propelling the market for shapewear is the self-confidence that shapewear provides. Moreover, shape wears help in reshaping the body structure as desired, by straightening-up the body posture and flattening the belly.
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The key players operating in the global Body Shaper market are Hanesbrands Inc., Wacoal, Van de Velde N.V. (primadonna), Triumph, PUMA, Leonisa, Ann Chery, Anita, Spanx, Annette International, Belly Bandit, Jockey International, Corset Story UK, Your Contour, Figura Nueva, and others. The competition is getting intense in the global body shaper market due to increasing partnerships and collaborations undertaken by the companies/global players, to expand their business and consolidate their market position.
Various strategies being implemented by the key players to stay competitive in the global body shaper market include geographical expansion, production capacity expansions, and M&A. For instance, in 2017, Spanx, Inc. launched a collection of shapewear (body shapers) for brides. The company introduced products in different sizes to target each segment. The collection ranged from sizes XS-2X. In addition to this, in 2013, Spanx, Inc. expanded its product portfolio by launching various product ranges, which include shapewear, hosiery, foundations, and other slimming apparel under the brand name of Star Power.
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Key Questions Answered
What are the key drivers, restraints, opportunities, and challenges in the body shaper market and how are they expected to impact the market? What are the microeconomic and macroeconomic factors impacting the overall growth of the market? Who are the key market players and their key competitors? Who are the key market players at different stages of the value chain? What are the recent trends in the market (M&A, partnerships, new product developments, expansions)?
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