The global baselayer compression shirts market size is projected to reach USD 507.2 million by 2025, according to a new report by Million Insights. The market is expected to grow at a CAGR of 5.1% over the forecast duration. The growing popularity of different sports activities coupled with a focus on healthy lifestyle has attributed to the market growth over the forecast period. Further, various properties such as compression, moisture-wicking and temperature control are also expected to supplement the market growth from 2019 to 2025.
Rising awareness about the availability of a wide range of products and introduction of new products are positively affecting the market growth. Growing penetration of social media among millennials coupled with increasing endorsement through digital marketing platforms is expected to drive the product sales from 2019 to 2025. The online sales channel is likely to grow fastest over the forecast period with a CAGR of 5.9%.
Among different end-users, the female segment is projected to showcase a CAGR of 5.3% over the forecast period. The constant introduction of new product in the segment and rising sports popularity among females are driving the segment growth. The male end-user segment, on the other hand, accounted for the highest market share in 2018.
North America led the market with over 38% of the market share in 2018. The growing popularity of various sports tournaments such as the National Basketball Association along with Hockey and Football leagues are supporting the regional growth.
Key players operating in the baselayer compression shirt market are Spanx Inc., Ann Chery, Under Armour, Skins International Trading AG, 2XU Pty, Adidas AG, Nike Inc. and Zensah among others. These players are focusing on increasing their research and developing spending to garner a larger consumer base. For example, DragynSkyn introduced a new line of compression apparel in August 2019 with three-layers.
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Further key findings from the report suggest:
• The female segment is expected to register the highest CAGR of 5.3% over the forecast period.
• Among different distribution channels, specialty stores accounted for over 58% of the market share in 2018.
• North America held the largest market share in 2018 while Asia Pacific is expected to grow at the highest CAGR over the forecast period.
• Key players operating in the market are Spanx Inc., Adidas AG, Ann Cherry, Zensah, Under Armour Inc., Leonisa SA and Nike Inc, among others.
Million Insights has segmented the global baselayer compression shirts market on the basis of end user, distribution channel, and region:
Baselayer Compression Shirts End User Outlook (Revenue, USD Million, 2015 - 2025)
Baselayer Compression Shirts Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
• Hypermarket & Supermarket
• Specialty Store
Baselayer Compression Shirts Regional Outlook (Revenue, USD Million, 2015 - 2025)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa