Portland,OR, Oct. 29, 2019 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global swimwear market was estimated at $19.57 billion in 2018 and is expected to reach $28.14 billion by 2024, growing at a CAGR of 6.20% from 2018 to 2024. The report offers a detailed analysis of the top winning strategies, top investment pockets, drivers & opportunities, market size & estimations, competitive landscape, and wavering market trends.
Product innovation in swimwear, surge in demand for luxury swimwear by women, and increase in interest in swimming as a fitness as well as recreational activity fuel the growth of the global polyester segment. On the other hand, volatility in raw material prices and high cost of designing restrain the growth to certain extent. Nevertheless, expansion in product line, innovations in men’s swimwear, incorporation of neoprene fiber to develop fabrics, and introduction of multifunctional cover-up swimwear & beachwear are anticipated to create a number of opportunities in the industry.
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The polyester segment to rule the roost-
Based on fabric, the polyester segment accounted for more than two-fifths of the total market share in 2018 and is expected to maintain its dominance throughout the estimated period. On the other hand, the neoprene segment would showcase the fastest CAGR of 6.70% during 2018–2024.
The offline segment to lead the trail by 2024-
Based on distribution channel, the offline segment held the major share in 2018, garnering more than three-fourths of the total market. The online segment, on the other hand, would register the fastest CAGR of 6.60% by 2024.
North America garnered the highest share in 2018-
Based on geography, North America contributed to more than two-fifths of the total market revenue in 2018 and is anticipated to dominate in terms of revenue throughout the study period. Simultaneously, the Asia-Pacific region is projected to register the fastest CAGR of 8.4% till 2024.
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Frontrunners in the industry-
Key market players analyzed in the global swimwear market report include Nike Inc., Adidas AG, Phillips-Van Heusen Corporation (PVH Corp.), Boardriders, Swimwear Anywhere, Inc., Haddow Group Plc, Dick's Sporting Goods, Perry Ellis International Inc., Gap Inc., and Arena Italia S.p.A., Inc. These players have taken recourse to high-end market strategies such as partnerships, collaboration, mergers & acquisitions, and new product launch to brace their stand in the industry.
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.