"Overview of Swimwear market"
The Swimwear market was valued at US$ XX Mn in 2018 and it is projected to reach more than US$ 31.4 Bn by 2027, growing at a CAGR of 5.8 % during the forecast period
The global swimwear market is estimated to witness significant growth in the coming years. Some of the major factors driving the growth of the global market include the rising prevalence of water sports, the introduction of advanced products, and the adoption of swimwear as casual clothing.
Rising Popularity of Swimming as a recreational activity across the Globe is Fuelling the Growth of Global Market
Swimming has become the most popular sport in many countries such as Australia, Russia, India, and China. Also, a rapid increase has been registered for participation in water sports around the globe. This has resulted in an increasing demand for swimwear from a large consumer base. Moreover, the rising awareness regarding fitness among different age groups is anticipated to fuel the growth of the global swimwear market.
Manufacturers are engaged in research and development activities in order to develop innovative products intended to cater to the consumer’s demand as swimwear needs specific designing and systematic processing. This is expected to create ample opportunities for market growth.
Polyester Segment had Dominated the Global Swimwear Market in 2018
Based on fabric type, the polyester segment is anticipated to dominate the global market throughout the forecast period. The major players prefer the polyester material for swimwear production as these fabrics offer shrinkage and stretching resistance. Moreover, these materials are easily washable, enhances the shelf life of swimwear as these are resistance to wrinkle and most of the chemicals such as chlorine. These factors are anticipated to fuel the growth of the polyester segment in the global market.
On the other hand, the Nylon segment is also estimated to gain traction in the coming years. This is mainly due to the advanced features associated with it such as smooth fitting, elastic property, and lightweight. However, the nylon fabric is not chlorine resistant which might hamper the growth of the segment during the period of the research study.
Women Segment is anticipated to be the Fastest-Growing Segment during the Forecast Period
By the end-user, the women segment is projected to witness the fastest growth in the coming years. The swimwear is gaining popularity among the female population owing to the emerging trends such as asymmetric designs, bold colors, modern shapes, and geometric prints which help women to enhance their appearance at the beach or pool. Moreover, the introduction of innovative swimwear with advanced features such as sun protection and thermal swimwear is expected to create ample opportunities for the growth of the segment.
Additionally, the integration of fashion elements in swimwear is attracting the younger generation which is further expected to increase the customer scale from diverse end-users including men, women, boys, and girls.
Asia Pacific held a significant share in Global Swimwear Market in 2018
In terms of region, Asia Pacific is anticipated to be the dominant region over the forecast period. The dominance of the region can be attributed to the rising awareness of the health benefits of swimming and product innovations in the swimwear sector. Moreover, the rising prevalence of water sports in emerging economies including China, India, Japan, and others.
Europe is the second-largest shareholder in the global swimwear market. The growth of Europe is mainly due to the rising adoption of swimming as a recreational activity in western countries. Furthermore, the U.S. is the largest contributor to the swimwear market in North America. In the United States, increasing the number of women participants in water sports activities is favoring the market growth.
The global Swimwear market is fragmented with several local and global players, which makes the market highly competitive. The enterprises are focused on launching innovative products with advanced features which will further help then to expand their market foothold.
For instance, in May 2018 H&M announced the launch of their new summer swimwear collection. The company developed these products by using sustainable materials which improves the quality of the products.
In March 2018, UNIQLO announced the expansion of its swimwear collection with the launch of new products. The new products are developed in collaboration with French brand tam.tam. The product line is the blend of sophistication and fashion sense.
In September 2019, Puma announced that they are planning to launch a new range of swimwear with a high-quality and unique design. The product line will include trunks, swimsuits, rash guards, board shorts and bikinis.
Some of the prominent companies operating in the global Swimwear market include Perry Ellis International Inc, Haddow Group Plc, Phillips-Van Heusen Corporation, Nike Inc., Dick's Sporting Goods, Gap Inc., Boardriders, Inc., Adidas AG, Swimwear Anywhere, Inc., and Arena Italia S.p.A.
Global Swimwear Market by Fabric Type
Global Swimwear Market by End-User
Global Swimwear Market by Region
- North America
- Asia Pacific
- Middle East & Africa
- Latin America