Wilmington, Delaware, United States, Dec. 04, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. -The global swimwear market is estimated to flourish at a CAGR of 6.0% from 2022 to 2031. According to Transparency Market Research, swimwear sales are slated to total US$ 34.2 billion by the end of the aforementioned assessment period. Customization and personalization have emerged as crucial factors, with brands offering customizable swimwear, allowing consumers to tailor designs, sizes, and features, meeting individual preferences.
The rise of influencer collaborations and the pervasive impact of social media have significantly influenced swimwear trends. Influencers collaborating with swimwear brands create buzz around new collections, driving consumer interest and sales through digital platforms. The incorporation of innovative technology is transforming swimwear functionality. Nanotechnology-infused fabrics offering quick-drying, antibacterial properties, and enhanced UV protection are gaining momentum, elevating the swimwear experience.
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Some prominent manufacturers are as follows:
- LVMH Moët Hennessy Louis Vuitton SE
- PEI Licensing LLC
- Pentland Brands Limited.
- Arena S.p.A
- ASICS America Corporation
- Swimwear Anywhere Inc.
- WISRISE GARMENT CO. LTD
- Lefty Production Co.
- HYDRODYNAMIC INDUSTRIAL CO. LTD.
- LEE TAI SANG SWIMWEAR FACTORY LIMITED
The growing focus on inclusivity and body positivity drives the demand for diverse sizing options and designs to cater to all body types and promote inclusivity within the market. These emerging drivers, including customization, influencer collaborations, technological advancements, and inclusivity, are pivotal in shaping the swimwear market, offering consumers fresh perspectives and unique experiences globally.
Key Findings of the Market Report
- Athletic swimwear leads the market, meeting the demand for functional and performance-oriented designs tailored for water-related fitness activities.
- Nylon fabric leads the swimwear market due to its durability, stretchability, quick-drying properties, and suitability for various swimwear styles.
- Women lead the swimwear market, driving demand with diverse preferences, fashion-conscious choices, and a wide range of swimwear options.
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Swimwear Market Growth Drivers & Trends
- Augmented Reality applications in physical stores offer customers the opportunity for virtual try-ons, revolutionizing the shopping experience by allowing interactive and immersive previews of swimwear products before purchase.
- The swimwear market witnesses a revival of vintage prints and psychedelic patterns, with designs reminiscent of past eras, adding vibrancy and retro aesthetics to contemporary swimwear fashion trends.
- Online platforms provide customers with customizable options, enabling personalized swimwear designs and sizes, allowing individuals to tailor their choices to specific preferences and body measurements conveniently from home.
- Brands repurpose surplus materials, crafting distinctive and eco-conscious swimwear collections, promoting sustainability and reducing waste in the fashion industry.
- 3D printing advancements revolutionize swimwear, allowing intricate and personalized designs. This technology enables the creation of unique and detailed swimwear pieces tailored to individual preferences and body shapes, fostering innovation.
Global Swimwear Market: Regional Profile
- In North America, the market thrives with a penchant for stylish and functional swimwear. With brands like Speedo, Nike, and emerging players such as Summersalt, the region emphasizes innovation, focusing on performance-driven designs, sustainable materials, and inclusive sizing options, catering to diverse consumer demands.
- Europe displays a blend of fashion and functionality, with key players like LVMH's Louis Vuitton SE, Adidas AG, and H&M. Brands like Vilebrequin offer luxury beachwear, while sustainability remains a priority, leading to eco-friendly swimwear collections, reflecting the region's environmental consciousness.
- The Asia Pacific region, encompassing countries like Australia, China, and India, emphasizes diversity in swimwear styles. Companies like Zoke, Arena, and Speedo International dominate, offering performance-oriented swimwear while embracing local cultural aesthetics and preferences. Emerging markets witness a surge in demand for swimwear, driven by rising disposable incomes and a growing affinity for fitness-related activities, propelling market expansion across the region.
Swimwear Market: Competitive Landscape
The swimwear market exhibits a competitive landscape marked by prominent players such as Speedo International, LVMH's Louis Vuitton SE, and Adidas AG. Established companies like Nike Inc., H&M, and Pentland Brands Limited contribute significantly. Emerging players such as Summersalt, Solid & Striped, and Matteau are gaining traction with innovative designs and sustainable swimwear lines.
The intense competition prompts brands to focus on fashion-forward designs, eco-friendly materials, technological advancements, and strategic collaborations, shaping a dynamic market driven by innovation and evolving consumer preferences.
Product Portfolio
- LVMH SE boasts a diverse portfolio featuring luxury brands encompassing fashion, perfumes, cosmetics, jewelry, and wines & spirits. Their iconic brands include Louis Vuitton, Dior, Moët & Chandon, and Givenchy, offering high-end products synonymous with sophistication and elegance.
- PEI Licensing, LLC offers a rich portfolio of licensed properties and consumer brands across entertainment, lifestyle, and character franchises. Their lineup includes popular properties like Peanuts, Strawberry Shortcake, and the World of Eric Carle, providing diverse consumer products and merchandise.
- Pentland Brands Limited specializes in a comprehensive portfolio of sports, outdoor, and fashion brands. Notable brands like Speedo, Berghaus, Canterbury of New Zealand, and Ted Baker encompass their portfolio, catering to diverse consumer needs in footwear, apparel, and accessories markets.
Swimwear Market: Key Segments
By Product Type
- Athletic
- Non-Athletic
By Fabric Type
- Nylon
- Polyester
- Other Synthetics (Neoprene, Cotton, Polybutylene Terephthalate, etc.)
By End-user
- Men
- Women
- Kids
By Distribution Channel
- Online
- E-commerce websites
- Offline
- Supermarkets & Hypermarkets
- Specialized Stores
- Single Brand Stores
- Multi Brand Stores
By Region
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- South America
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