Growth in Sales of Body Shaper Market to be Largely Driven by Rising Consumer Adoption
Added: (Thu Jan 17 2019)
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According to a market report published by Persistence Market Research titled ‘Body Shaper Market: Global Industry Analysis and Forecast 2018-2027’, the revenue generated from body shapers is estimated to be valued over US$ 2,077.4 Mn in 2018, which is projected to increase at a CAGR of 7.0% during the forecast period (2018-2027).
Body shapers are also known as foundation garments. They are primarily designed to be used as undergarments. Body shapers enable the holding, moulding and pushing of the body in a certain shape to provide a slim and smooth appearance. The advent of the trend of using body shapers can be attributed to endorsements from celebrities for the usage of body shapers to enhance the shape of the body.
The demand for body shapers exist in people belonging to all age groups, especially women. Women are more inclined towards enhancing their external appearance, which is among the key factors expected to drive the global demand for body shapers. In the global body shaper market, companies across the globe are focusing on the launching of new products with latest fashion and high quality along with expanding the market presence through the establishment of new manufacturing facilities as well as sales channels to reach potential customers, which are among key factors driving the demand for body shapers across the globe. Moreover, favourable trade policies, global growth in the production of apparels, rise in per capita income, favourable demographics and increasing consumer preference for branded products are among factors boosting the demand for body shapers during the forecast period.
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Factors such as increasing population and an increase in the adoption of e-commerce for selling products across the world has led to a surge in the growth of B2C business across various domains. Over the years, there has been a drastic change in consumer behaviour, and an increasing number of consumers are seeking products online and purchasing various products, such as FMCG products, clothes and others, through e-commerce, and this is contributing to the growth of the body shaper market globally. Growth of global online sales channels, along with an increase in the number of body shaper products through new product launches, is projected to further accelerate the growth of the global body shaper market. Also, the frequent introduction of body shapers targeting male consumers is creating considerable growth opportunities for the global body shaper market.
In body shaper market, manufacturers have also adopted various key differentiation strategies to gain a competitive edge with an objective to outperform their competitors. Besides the size of population and per capita spending, some of the other key factors driving the body shaper market are population density, downstream industry effectiveness and changing economic policies as well as business legislations.
The global body shaper market is segmented on the basis of regions, which include North America, Latin America, Asia Pacific Excluding Japan (APEJ), Europe, Middle East & Africa and Japan. Globally, among all the regions in the body shaper market, Europe is expected to account for the largest value share followed by North America. The Europe body shaper market is estimated to account for a 33.1% revenue share of the global body shaper market by the end of 2018, and is expected to lose 32 BPS in its market share by 2027 over 2018. However, in terms of growth, APEJ is expected to register a relatively high CAGR of 8.4% during the forecast period.
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Key Players in the Body Shaper Market
The global body shaper market is primarily characterised by the presence of a large number of regional and multinational companies. Detailed profiles of companies are also included in global body shaper market report to evaluate their strategies, key product offerings and recent developments. Some of the key players profiled in the global body shaper market study include 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., Leonisa, Spiegel LLC, Marks & Spencer plc, Tolbert Yilmaz Manufacturing, Inc. (EuroSkins), Rago Shapewear, Calzificio Pinelli Srl. (SOLIDEA), Body Hush and Lytess.