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Call gzip directly from awk to avoid disk IO:

zcat file |awk -F, '{print | "gzip >" $1 ".gz"}'

This is not optimal. Doing pipelines or redirections in awk is very awkward for awk will have to...

mkdir subfolder
zcat file | awk -F, '{print $0 > "subfolder/" $1}'
gzip subfolder/*

may be you can try something like this.

First write the uncompressed data in subfile1 and when you are about to strat the subfile2, run gzip for subfile1.