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 the 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 market growth. Furthermore, high impact of social media and digital marketing is anticipated to augment 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.
The male end-user segment le the global base layer 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.
Baselayer Compression Shirts Market Share Insights
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 a new product line of compression apparel with Extreme Base Apparel designed with three-layers.