The global Body Shaper Market is expected to grow at a stupendous rate In Upcoming Years. Today calls for prediction tools that are powered by AI to optimize the usage of the resources available. This could also help in crisis management. As such, key market participants are likely to invest in predictive analytics for condoning unforeseen circumstances. These would be preventive steps taken by the enterprises on the whole.
Body shapers include garments or undergarments that help hold the fat in the body together and make a person appear slimmer. The fabric of body shapers is strong, thick, and elastic in nature. Over the past few years, geographical distribution of production in apparel and textile industries has changed dramatically. More than 60% of global clothing that is exported is manufactured in developing countries. An increasing percentage of population is getting influenced to maintain a healthy and fit lifestyle. Moreover, growth in the number of fitness enthusiasts is also expected to support the growth of the body shaper market during the forecast period.
On the back of these factors, global sales of the body shaper market reached US$ 2.2 Bn in 2019. According to PMR’s report, the body shaper market is estimated to register a CAGR of 7% during the forecast period of 2020–2028.
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Key Takeaways of Global Body Shaper Market Study
- According to the report, the global body shaper market represents a fairly consolidated competition landscape, where, a majority of key players maintain their strategic focus on product development, new product launches, and mergers & acquisitions. The market is dominated by a few major players such as Spanx Inc., Jockey International, Inc., Belly Bandit, Wacoal, Nike Inc., Under Armour Inc., PUMA NA, Ann Chery, Annette International Corporation, Corset Story UK, Fájate Diseño de Prada, Hanesbrands Inc., Tolbert Yilmaz Manufacturing, Inc. (EuroSkins), Rago Shapewear, Calzificio Pinelli Srl. (SOLIDEA), Body Hush, Lytess, etc.
- PMR identifies Europe as the largest market for body shapers, followed by North America, attributable to the higher demand for tummy slimmer products. Moreover, consumers are also influenced by celebrities and commercial advertisements, entertainment channels, and movies, which are also driving the sales of body shapers.
- Based on product, the bottoms segment holds the highest value share in the body shaper market. However, waist shapers are the most preferred product, and thus, held the highest volume share in the global market in 2019.
- By material, nylon body shapers hold the largest market share as compared to their counterparts such as polyester, cotton, and mix.
- Online stores are projected to be the highest growth contributor to the body shaper market during the forecast period, on account of easy product availability, lower prices as compared to physical channels, ability to compare products, and doorstep delivery. At present, multi-brand stores under the offline segment holds most of the market share.
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Covid-19 Impact on Market
The apparel and clothing industry is anticipated to witness lower volume sales in 2020 due to the coronavirus pandemic, which has spread all over the world. At present, most of the world is in a full or partial lockdown, and businesses have temporally closed downs their operations. The body shaper market is currently witnessing lower sales due to closure of physical stores such as convenience stores, hypermarkets/supermarkets, multi-brand stores, etc. Thus, the body shaper market is expected to see lower sales in the first half of 2020, and is expected to gain traction from the starting of the 3rd quarter, 2020.
Know More about Body Shaper Market Report Inclusions
Persistence Market Research published a new market report on the body shaper market, covering the global industry analysis of 2015–2019 and forecasts from 2020–2028. This report on the body shaper market provides compelling insights on the basis of product (tops, bottoms, waist shapers, and shaping body suits), control (firm control, light control, medium control, and tummy control), material (cotton, polyster, nylon, and mix), and sales channel (hypermarkets/supermarkets, specialty stores, multi-brand stores, company website, and 3rd party online sales), across all major regions. The report on the global body shaper market also includes forecast factors and vital macroeconomic factors that are anticipated to boost the growth of the global market. The report also addresses restraints that are projected to hinder the growth of the body shaper market, along with the latest trends and potential opportunities in the market.
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