SWIMSUITS MARKET REPORT OVERVIEW
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The global swimsuits market size was USD 20.15 billion in 2021 and the market is projected to touch USD 31.86 billion by 2028, exhibiting a compound annual growth rate (CAGR) of 6.7% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with swimsuits experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels.
Swimsuits are a clothing type specifically designed for people engaged in swimming or other water sports or water-based activities such as water polo, water skiing, surfing, swimming, or even leisure activities such as sunbathing. It is used to avoid any infection on the skin caused due to contact with the pool water. The swimsuit is available in various materials and designs. It is available in various types of fabrics and sizes. It conserves the body heat by keeping a confining layer of water after the skin to keep it warm and works as a heat-resistant under water.
The swimsuits are also called swimwear, swimming costumes, and wetsuits. The growth of the fashion industry, coupled with the rising per capita income of the population, is estimated to propel growth in the market. Swimwear in fashion shows and ads plays a significant role in the market's expansion as a result of the fashion industry's increased promotion of the product. The numerous health advantages of swimming, including weight loss, a healthier heart and lungs, improved sleep, stress management, and others, are also what is attracting more people to swimwear and fueling the market's expansion.
COVID-19 Impact: Closing of Swimming Pools Due to Lockdown Affected Market Growth
Many pools had to close after COVID-19 was discovered in order to stop the virus's spread. Additionally, a number of swim competitions have been canceled worldwide. Brands frequently use these shows as a platform to present their swimsuit line. For instance, the formal cancellation of 11 trade shows and runway shows scheduled to take place during Miami Swim Week in July 2020. Pre-COVID-19 tendencies are projected to pick up, with marketplaces, shoppable social media platforms, and direct-to-consumer e-commerce becoming increasingly significant. With trends like "revenge travel" among the populace, swimsuit products are anticipated to experience an increase in demand across the market
LATEST TRENDS
"Rapid Changes in the Fashion Industry to Propel Major Growth in Market"
The swimsuits market is anticipated to grow in the forecast period due to rising fashion trends. Consumers acquire various types of swimsuit goods based on their comfort, activities, and fashion appeal, backed by rapid changes in fashion trends. Additionally, the rise in disposable income of the population is accelerating the demand for the product in the global market. Women from various cultures are becoming more interested in designer swimwear which is estimated to enhance the slimming effect and give value-added features such as practical cuts and fashionable designs. The growth of the spa and beauty sectors coupled with the rising female demand for specialty swimwear is in part driving the swimsuits market growth.
SWIMSUITS MARKET SEGMENTATION
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- By Material Analysis
By type, the market is segmented into polyester, nylon, spandex, and others.
Polyester is forecasted to dominate the material segment owing to its characteristics, such as quick-dry ability, easy wash, and higher durability.
- By Application Analysis
Based on application, the market is classified into men's swimsuits and women's swimsuits.
The women segment is most likely to dominate the application segment attributable to the higher number of women swimmers. The segment's growth is also attributable to the women's desire to look fashionable at water sports, pools, and beaches.
DRIVING FACTORS
"Rising Concerns toward Healthy Living to Elevate Product Demand"
Swimming is one of the most popular fitness sports that is considered to keep the player physically fit. Rising concern for fitness among various age groups is likely to fuel the demand for swimming costumes. Swimming has various health benefits. It relaxes your body and offers peace to the mind. It also decreases stress in the swimmer. Swimming every day improves balance, posture, and coordination. It also enhances body flexibility and offers good low-impact therapy in some specific conditions and injuries. Swimming provides a pleasant way to cool down after a long day. These factors are estimated to boost the demand for product and elevate the swimsuits market growth.
"Expanding Number of Waterparks to Bolster Market Growth"
One of the main factors contributing to the growth of the market is the expansion of water parks. As more people visited water parks with their friends and families, they found that wearing swimwear made it easier for them to move around and cover their bodies, protected their skin from chlorinated water, and made them appear fashionable. There are already around 1,300 water parks in North America, and the World Waterpark Association predicts that these parks will draw more than 375 million visitors, increasing the demand for swimwear items. Additionally, folks who live near a lake or a beach are increasingly using swimwear for sunbathing.
RESTRAINING FACTORS
"Price Volatility of Raw Materials to Affect Growth in the Market"
Manufacturing of swimwear requires unique systematic designing and processing of raw materials and fabrics such as nylon, polypropylene, polyester, neoprene, and spandex for producing the desired look, design, texture, and other fashion trends. The fluctuating price of raw materials is forecasted to decline in swimsuits market growth.
SWIMSUITS MARKET REGIONAL INSIGHTS
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"Asia Pacific to Lead the Market Due to Rising Water Sports Activities "
Asia Pacific is estimated to hold dominating part of the swimsuits market share due to the accumulative growth of water sports, water fitness, and the rising establishment of swimming pools and water parks in homes, hotels, and tourist places.
North America is forecasted to hold a commendable growth in the market owing to the region being one of the largest economies coupled with the rising number of people going on vacations to water parks and beach sides.
KEY INDUSTRY PLAYERS
"Key Players Focusing on Developing Designer Products to Gain Growth "
Businesses are working on developing new products that offer more easy wash and dry. Companies also use innovative practices and techniques to create new designs of swimming costumes. Companies are focused on acquisitions and investments to increase sales. The marketplace is competitive as a result of the existence of numerous huge firms. An extensive worldwide consumer base and the execution of operations through specialized distribution networks are other characteristics. The key companies strive to gain a higher market share by launching new products.
List of Market Players Profiled
- Speedo (U.K.)
- Aimer (China)
- Arena (Italy)
- Zoke (China)
- Yingfa (China)
- Triumph (U.K.)
- Bluechips Apparel (U.S.)
- American Apparel (U.S.)
- Dolfin Swimwear (U.S.)
- Few (U.S.)
- La Perla Group (Italy)
- Lufthansa Garment (Germany)
- Parah (Belgium)
- Perry Ellis (U.S.)
- Platypus (Denmark)
- Sanqi International (China)
INDUSTRY DEVELOPMENT
- December 2019- Nike revealed the liftoff of swimwear especially made for athletes. This swimwear consists of a single piece or full-body swimming costume consisting of a swimming hijab, leggings, tunic, and top.
REPORT COVERAGE
An overview of the product is provided along with the product description. Numerous industry elements are included in the research.
- The pandemic's aftereffects and the subsequent lockdown.
- The market's most recent trend is currently fueling expansion.
- The factors are most likely to stimulate swimsuits market growth.
- The reasons the market is expected to grow more slowly.
- A comprehensive regional analysis of the market is conducted.
- Significant players and their business offices are also covered in the article.
| REPORT COVERAGE | DETAILS |
|---|---|
Market Size Value In |
US$ 20.15 Billion in 2021 |
Market Size Value By |
US$ 31.86 Billion by 2028 |
Growth Rate |
CAGR of 6.7% from 2021 to 2028 |
Forecast Period |
2022-2028 |
Base Year |
2022 |
Historical Data Available |
Yes |
Segments Covered |
Types & Application |
Regional Scope |
Global |
Frequently Asked Questions
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What value is the swimsuits market expected to touch by 2028?
Based on our research, the swimsuits market is projected to touch USD 31.86 billion by 2028.
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What CAGR is the swimsuits market expected to exhibit by 2028?
The swimsuits market is expected to exhibit a CAGR of 6.7% by 2028.
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What are the segments of the swimsuits market?
By type, the swimsuits market is segmented into polyester, nylon, spandex, and others. Based on application, the market is classified into men swimsuits and women swimsuits.
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Which are the driving factors of the swimsuits market?
Rising concern toward healthy living to elevate product demand and the expanding number of waterparks to bolster market growth are the factors driving the swimsuits market.
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Which are the top companies operating in the swimsuits market?
Speedo, Aimer, Arena, Zoke, Yingfa, Triumph, Bluechips Apparel, American Apparel, Dolfin Swimwear, Few, La Perla Group, Lufthansa Garment, Parah, Perry Ellis, Platypus, and Sanqi International are the top companies operating in the swimsuits market.
