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Baselayer Compression Shirts Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
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Report Overview
The global baselayer compression shirts products market was valued at USD 4.2 billion in 2022 and is projected to expand at a CAGR of 6.2% from 2023 to 2030. The growing awareness and acceptance of the advantages of wearing baselayer compression shirts are driving the demand for these products. Baselayer compression shirts are popularly worn by athletes and sportspersons to improve performance and reduce the risk of injury. The increasing use of baselayer compression shirts in everyday activities is also propelling the market growth. The growing demand for yoga and other fitness activities is increasing the popularity of compression shirts. Furthermore, the availability of compression shirts in a wide range of colours, sizes, and styles is driving market growth.
In addition, the increasing trend of athleisure clothing and the growing demand for sports apparel are also supporting the market growth. Furthermore, the growing demand for eco-friendly and sustainable fabric is expected to create new opportunities for the market players in the coming years. For instance, in April 2021, Reebok and Adidas, two of the leading players in the market, launched sustainable and organic fabric for their baselayer compression shirts. The product is made from lyocell and recycled polyester and has been designed to keep the wearer cool and dry.
Furthermore, the rise in the establishment of fitness-related activities such as yoga and sports clubs is further driving the demand for baselayer compression shirts. Additionally, the growing demand for comfortable and stretchable apparel is propelling the demand for compression shirts. Key players are also emphasizing on the development of innovative products to meet the requirements of the customers. For instance, in October 2021, Adidas launched a new range of baselayer compression shirts with advanced technology and features. The new range was designed to provide comfort and support to the wearer while engaging in sports and fitness activities.
Moreover, the growing demand for online shopping is propelling the growth of the market. The increasing penetration of the internet, coupled with the availability of discounts and offers, is driving the demand for baselayer compression shirts online. Furthermore, the increasing trend of customization is providing new opportunities for market players. For instance, in August 2021, Nike launched a new customization platform for its baselayer compression shirts. The platform allows customers to design their own compression shirt and choose from a wide range of colours, fabrics, and prints.
Product Insights
The compression baselayer shirts segment held the largest market share in 2022. Increasing consumer preference for activewear, growing demand for sportswear, and growing awareness about the benefits of compression wear are some of the primary factors driving the demand for compression baselayer shirts globally. According to an article published by the International Association of Athletics Federations (IAAF), in October 2020, compression shirts are designed to provide extra warmth, reduce muscle fatigue, and improve range of motion. Moreover, technological advancements such as moisture-wicking fabric, advanced manufacturing techniques, and introduction of new products are some of the key factors driving the demand for baselayer compression shirts.
The compression baselayer pants segment is anticipated to expand at the fastest CAGR of 8.1% over the forecast period. The growth of this segment can be attributed to the growing demand for compression baselayer pants for different sports activities to provide compression, support, and reduce fatigue. According to an article published by the National Center for Biotechnology Information, in January 2020, compression baselayer pants provide improved physical performance, comfort, and mobility during exercise. Additionally, increasing athletic participation among individuals and growing demand for sportswear are some of the key factors driving the demand for baselayer compression pants.
Distribution Channel Insights
The specialty stores segment dominated the global baselayer compression shirts market in 2020, accounting for a share of more than 38.7%. The growth of this segment can be attributed to the rising popularity of sports and fitness activities among consumers, resulting in the increased demand for sports apparel. In addition, specialty stores provide a wide range of products to customers, which helps them make informed buying decisions. Furthermore, specialty stores offer discounts and attractive offers on their products, which is further fueling the growth of the segment.
The online segment is anticipated to expand at the highest CAGR of 11.2% over the forecast period. The convenience of shopping from home and the availability of a wide variety of products are some of the major factors driving the growth of the online segment. Furthermore, the presence of multiple e-commerce platforms such as Amazon, Flipkart, and Alibaba has increased the accessibility of these products to customers. Moreover, the availability of discounts and promotional offers on online platforms has further boosted the growth of the segment.
Type Insights
The basic segment accounted for the largest revenue share of 68.4% in the year 2022. The growth of the segment is attributed to the increasing availability of these products at lower prices in the market. For instance, brands such as Nike have a wide range of basic baselayer compression shirts available in the market, which are affordable and are made with comfortable fabrics.
The performance segment is expected to expand at the highest CAGR of 12.2% over the forecast period. The growth of the segment is attributed to the increasing demand for high-performance baselayer compression shirts. These products are made with advanced fabrics and are specifically designed to provide better support and mobility during intense physical activities. Brands such as Under Armour and Adidas have a wide range of high-performance baselayer compression shirts available in the market.
Regional Insights
The market in North America is expected to account for the largest share in terms of revenue during the forecast period. The presence of leading players in the region such as Under Armour and Nike is expected to drive the growth of the market in the region. Moreover, the rising trend of sports and fitness activities among people in the region is expected to drive the demand for baselayer compression shirts.
In Europe, the market is expected to witness considerable growth during the forecast period. This can be attributed to the presence of well-established players such as Adidas, Puma, and Reebok in the region. Additionally, the rising awareness regarding the benefits of compression shirts and the increasing demand for fashionable and comfortable activewear are further expected to drive the market growth in Europe.
The market in Asia Pacific is expected to witness the highest growth during the forecast period. Increasing disposable income, rising health consciousness, and rising demand for fashionable and comfortable activewear are the factors driving the growth of the market in this region. Moreover, the presence of emerging players in the market is expected to further enhance the growth of the market in the region.
Financial Projections
In this part of the Baselayer Compression Shirts Products business plan, we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your products. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main source of revenues for a Baselayer Compression Shirts Products business comes from the sale of the products. Here you will find a list with a description of each of them and other possible sources of profit such as promotional activities, discounts, and bulk orders.
Projecting Expenses
In this section, all the regular expenses related to keeping the Baselayer Compression Shirts Products business running will be described. The list of operating expenses includes production costs, packaging, shipping, online advertisement, wages, and insurance policies.
Key companies & market share insights
Some of the key companies operating in the baselayer compression shirts market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:
– In August 2022, Under Armour Inc. launched the Charged Cotton baselayer compression shirts to provide superior comfort and performance to athletes.
– In September 2022, Adidas AG launched the ClimaCool baselayer compression shirts designed to provide enhanced breathability and moisture wicking.
– In October 2022, Nike Inc. launched the Dri-Fit baselayer compression shirts designed to provide superior comfort and performance.
Some of the prominent players in the baselayer compression shirts market include:
– Under Armour Inc.
– Adidas AG
– Nike Inc.
– Reebok International Limited
– New Balance, Inc.
– Lululemon Athletica Inc.
– Compressport
– Craft Sportswear
– 2XU
– Kalenji
Global Baselayer Compression Shirts Market Segmentation
This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global baselayer compression shirts market based on product type, application, distribution channel, and region:
1. Product Type Outlook (Revenue, USD Million, 2017 – 2030)
– Short Sleeves
– Long Sleeves
– Others
2. Application Outlook (Revenue, USD Million, 2017 – 2030)
– Sports
– Medical
– Everyday Wear
– Others
3. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
– Offline
– Online
4. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa
Frequently Asked Questions
[Q]: What are the Major Benefits of Compression Shirts?
[A]: Compression shirts are known to have many benefits, including aiding in physical performance and recovery, providing improved posture and body alignment, reducing inflammation, and increasing muscle endurance. Additionally, compression shirts are known to improve blood and lymph circulation, allowing better oxygen supply to the muscles, resulting in improved performance and recovery.
[Q]: What are the Key Drivers and Restraints of the Compression Shirts Market?
[A]: The major drivers of the compression shirts market are the increasing demand from professional athletes and sportspersons, growing awareness about the benefits of compression shirts, and the growing popularity of sports and fitness activities. On the other hand, factors such as high costs of the shirts and lack of awareness in some regions are expected to restrain the market growth.
[Q]: Who are the Key Players in the Compression Shirts Market?
[A]: The key players in the compression shirts market are Nike Inc., Under Armour Inc., Adidas AG, Skins International Trading AG, 2XU Pty Ltd., CEP Compression, and McDavid Inc., among others.
[Q]: What are the Major Distribution Channels for Compression Shirts?
[A]: Major distribution channels for compression shirts include online stores, retail stores, specialty stores, and others. Online stores have witnessed an increasing demand for compression shirts due to the convenience of shopping, availability of a wide range of products, and competitive prices.
[Q]: What are the Major Applications of Compression Shirts?
[A]: The major applications of compression shirts are in fitness and sports activities, medical and healthcare, and other activities. Compression shirts are used to improve performance and recovery in sports and fitness activities, to aid in medical treatments such as lymphedema, and for other activities such as running, yoga, and Pilates.
Research Methodology
Impact Analytix employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives. Critical elements of the methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For a comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia, and trade journals. Technical data is also gathered from an intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, and pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression, and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of the technology landscape, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
Market drivers and restraints, along with their current and expected impact
Raw material scenario and supply v/s price trends
Regulatory scenario and expected developments
Current capacity and expected capacity additions up to 2030
We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.
Primary validation
This is the final step in estimating and forecasting our reports. Exhaustive primary interviews are conducted, face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts, and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation but also provide critical insights into the market, current business scenario, and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:
Market-leading companies
Raw material suppliers
Product distributors
Buyers
The key objectives of primary research are as follows:
To validate our data in terms of accuracy and acceptability
To gain an insight into the current market and future expectations
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