The shapewear market has continued to grow over the years due to lifestyle changes and cultural impact, and, according to a report by Research and Markets, it looks as though it will only maintain the expansion.
The data platform has released its Shapewear Market Size, Share and Trends Report, which estimated that the global shapewear market is anticipated to reach 3.7 billion by 2028. The report stated that the category is predicted to expand at a compound annual growth rate (CAGR) of eight percent, from 2021 to 2028.
Shapewear has gained traction thanks to changing lifestyles, the increase of the product’s use among the geriatric population and the developments in fabric technology. Cultural factors have also played a role in the product’s increase in popularity, with the data platform suggesting that the rise in body-positivity philosophy has had a significant impact on the perception of shapewear.
The report noted: “Shapewear is not about hiding defects for millennials and Gen Z shoppers; rather, it is seen as apparel that improves rather than alters one’s appearance,” further referencing the linguistical move from ‘sculptwear’ to ‘shapewear’ that many brands adopted.
Research and Markets cited Shapermint and Kim Kardashian’s Skims as notable players in this market, each fostering substantial communities that are attracted to the brands’ inclusivity and social media presence.