Dublin, Aug. 21, 2023 (GLOBE NEWSWIRE) -- The "Swimwear Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The global swimwear market has exhibited notable growth, expanding from $21.18 billion in 2022 to an impressive $22.6 billion in 2023, with a commendable Compound Annual Growth Rate (CAGR) of 6.7%.
This growth transpired despite the disruptive backdrop of the Russia-Ukraine war, which temporarily hindered global economic recovery efforts post the COVID-19 pandemic.
The ongoing conflict between Russia and Ukraine instigated a series of economic sanctions impacting multiple countries. A surge in commodity prices and disruptions in supply chains further exacerbated the situation, contributing to inflation across various goods and services sectors, thus affecting global markets. Nevertheless, the swimwear market remains poised for growth, projected to achieve a valuation of $28.84 billion in 2027, with a CAGR of 6.3%.
Report Overview
The swimwear market research report, a part of a comprehensive series of industry reports, presents vital statistics encompassing global market size, regional allocations, competitors' market share, detailed market segments, trends, opportunities, and additional data essential for thriving in the swimwear industry. This exhaustive market research report provides a holistic perspective, delving into both the current and future landscape of the industry.
Market Overview
A significant trend in the swimwear market is the development of fabrics enhancing elasticity and effectiveness. Elasticity is a crucial factor in swimwear, as it shapes the body and ensures the garment's secure fit. Notably, swimwear elastic withstands exposure to chlorinated and saltwater, along with sunlight.
Industry players are diligently innovating fabrics to meet customer demands for enhanced comfort and performance. For instance, in May 2021, US-based manufacturer MeUndies introduced a swimwear collection crafted from recycled plastic bottles and recycled nylon material. This eco-friendly, super-elastic fabric, sourced sustainably, showcases a commitment to both innovation and environmental responsibility.
In a strategic move, American retailer Victoria's Secret & Co. acquired a minority interest in Frankies Bikinis, LLC in March 2022, signaling its entry into the beachwear market. This acquisition enhances Victoria's Secret & Co.'s product portfolio by incorporating the expertise of Frankies Bikinis LLC, a US-based swimwear and apparel manufacturer.
Competitive Analysis
Asia-Pacific held the prominent position as the largest region in the swimwear market during 2022. The swimwear market report encompasses an array of regions, including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Countries covered in the swimwear market report span Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
The inclination of consumers towards water-based activities serves as a pivotal driver for the swimwear market's growth. The surge in interest in sports activities, driven by health considerations, coupled with the rise of international water sporting events, has propelled consumers towards water sports and recreational activities. Notably, the UK witnessed a substantial increase in outdoor swimming participation, with numbers rising between 2019 and 2020.
The swimwear market encompasses an array of products, including boardshorts, jammers, swim trunks, briefs, thongs, G-strings, one-piece suits, and bikinis. Market values represent the 'factory gate' values – goods sold by manufacturers or creators to various entities, including wholesalers, retailers, and end customers. This value encompasses related services offered by the creators.
Market value is defined as the revenue generated by enterprises from goods and/or services sales within specified markets and geographies. This revenue encompasses sales, grants, and donations, reported in USD unless otherwise specified.
Competitive Analysis
Notable players in the swimwear market include American Apparel, Inc., Arena Italia S.p.A, Diana Sport, Eveden Group, Jantzen, Inc., La Perla Group, Haddow Group PLC., Nike Inc., Swimwear Anywhere, Inc., Adidas AG, Dick's Sporting Goods, Gap Inc., Phillips-Van Heusen Corporation (PVH Corp), NOZONE Clothing Limited, O'Neill, Inc., PARAH S.p.A., Pentland Group plc., Speedo International Ltd., TYR Sport, Seafolly, Seaspray Swimwear, Tefron, LVMH Moet Hennessy Louis Vuitton, Chantelle Group, SUNSETS Inc., DOLFIN SWIMWEAR, and Jockey International Inc., Puma SE.
The Swimwear Global Market Report 2023 empowers strategists, marketers, and senior management with vital insights to assess market dynamics. This report focuses on the swimwear market, characterized by robust growth and evolving trends. It offers a comprehensive overview of trends shaping the market over the coming years.
Reasons to Purchase:
- Gain a comprehensive global perspective with expansive coverage of 50+ geographies.
- Understand the COVID-19 impact and response on the market.
- Analyze the Russia-Ukraine war's ramifications on commodity supply and market dynamics.
- Assess the influence of global inflation on market growth.
- Formulate regional and country strategies based on localized data and analysis.
- Identify promising growth segments for strategic investments.
- Utilize forecast data to outperform competitors and navigate market trends.
- Gain insights into consumer preferences via the latest market shares.
- Benchmark performance against key industry rivals.
- Leverage reliable, high-quality data and analysis for impactful presentations.
A selection of companies mentioned in this report includes
- American Apparel, Inc.
- Arena Italia S.p.A
- Diana Sport
- Eveden Group
- Jantzen, Inc.,
For more information about this report visit https://www.researchandmarkets.com/r/zashpu
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
