The shortage of Chinese ingredients, raw materials, and semi-finished goods is the latest example of the global economy’s dependence on products made in China, from iPhones to auto parts to pharma. Much of the fallout may still be hidden and is likely to play out over months. Even before the coronavirus outbreak, business investment was already in poor health in the United States. It fell in the last three quarters of 2019. Some analysts now expect more companies could soon announce reductions in their capital spending.
Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Baselayer Compression Shirts market.
Trusted Business Insights presents an updated and Latest Study on Baselayer Compression Shirts Market 2019-2030. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Baselayer Compression Shirts market during the forecast period (2019-2029).
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
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Industry Insights, Market Size, CAGR, High-Level Analysis: Baselayer Compression Shirts Market
The global baselayer compression shirts market size was estimated at USD 357.4 million in 2018. The market is estimated to expand further at a CAGR of 5.1% from 2019 to 2025. Rising awareness about the availability of these products that help in faster recovery of sore muscles after extensive workout sessions is projected to be the key factor boosting the growth of this market.
In addition, rising popularity of various sports, such as Olympic Games, Football World Cup, and Commonwealth Games, activities and awareness about following a healthy lifestyle are boosting the growth of this market. High demand for these products on account of their compression and moisture wicking properties is also likely to fuel the market growth over the forecast period.
Moreover, introduction of odor and temperature control fabrics and other smart textiles will have a positive impact on the market growth. Furthermore, high impact of social media and digital marketing is anticipated to augment the market growth. Many brands showcase their products on different social media platforms, such as Instagram, through endorsements.
North America was the dominant regional market in 2018 and is estimated to retain its dominant position throughout the forecast period on account of high product demand. Moreover, growing popularity of sports championships, such as National Basketball Association, National Football Association, and National Hockey League, will support the market development.
End User Insights
The male end-user segment le the global baselayer compression shirts market in 2018 and accounted for more than 56.5% of the overall share. The segment is estimated to maintain its dominant position over the years to come on account of various factors, such as constant product innovation by major manufacturers. For instance, The Under Armour Recharge by Under Armour, Inc. that helps reduce the risks of muscle cramps. The female end-user segment is projected to register the fastest growth rate of 5.3% over the forecast period. This growth can be attributed to the increasing popularity of different sports championships and demand for the product.
Distribution Channel Insights
Specialty stores was the largest channel of distribution in 2018. It accounted for more than 58% of the overall market share in 2018. Increasing number of retail outlets in developing countries, such as Brazil, India, and China, is expected to have a positive impact on the segment growth. Moreover, increasing popularity of fitness apparel brands is boosting the segment growth.
The online channel of distribution is projected to grow at the maximum CAGR of 5.9% from 2019 to 2025 owing to increasing influence of digital marketing and media. Increasing internet penetration, especially in developing countries like India and China, is boosting the product sales through online platforms, thereby supporting segment growth. Moreover, various discounts and offers on branded products along with delivery services provided by online retailers will drive the segment further.
Regional Insights of Baselayer Compression Shirts Market
Led by U.S., North America was the largest regional market in 2018 and accounted for 38.84% of the global share. The region is estimated to retain its leading position throughout the forecast years owing to high product demand. In addition, rising popularity of sports championships and awareness about following a healthy lifestyle will augment the market growth in this region. High consumer purchasing power and awareness about the availability of advanced products will also boost the regions growth in the years to come. On the other hand, Asia Pacific is projected to register the fastest CAGR from 2019 to 2025. Rapidly expanding textile industry in India offers numerous growth opportunities to the market. Growing fitness industry due to rising health consciousness will drive the regional market further. In addition, rising consumer disposable income levels and rapid urbanization will have a positive impact on the regions growth.
Market Share Insights of Baselayer Compression Shirts Market
Key companies in the global market include Nike, Inc.; Spanx, Inc.; Adidas AG; Leonisa SA; Ann Chery; 2XU Pty. Ltd.; Under Armour, Inc.; Zensah; Skins International Trading AG. These companies invest more in R&D for product innovation to gain a greater market share. For instance, in August 2019, DragynSkyn launched new product line of compression apparel with Extreme Base Apparel designed with three-layers.
Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Baselayer Compression Shirts Market Research Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, this market research report has segmented the global baselayer compression shirts market report on the basis of end user, distribution channel, and region:
End User Outlook (Revenue, USD Million, 2019 – 2030)
Male
Female
Distribution Channel Outlook (Revenue, USD Million, 2019 – 2030)
Hypermarket & Supermarket
Specialty Store
Online
Others
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