New York, United States, Jan. 23, 2024 (GLOBE NEWSWIRE) -- The Swimwear Market Size is to Grow from USD 19.55 Billion in 2022 to USD 29.79 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 4.3% during the projected period. Growing government and non-profit investments in the development and maintenance of swimming pools are boosting the swimwear market growth during the forecast period.
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Swimwear is a costume designed for people who enjoy water-based activities or water sports like swimming, water polo, surfing, water skiing, or even leisure activities like sunbathing. It protects the wearer from chlorinated pools and salts in seawater that can cause skin rashes. It is made of a variety of fabrics, including polyester, nylon, spandex, and other blended fibers, which provide the elasticity, drapability, and comfort required for a range of water activities. Furthermore, consumers prefer to wear swimwear to pool parties and outdoor venues such as restaurants and resorts. Beaches are not only a popular vacation destination in some western countries, but they also play an important role in coastal communities' local culture. Many coastal towns and cities have developed a beach lifestyle centered on activities such as surfing, sunbathing, and beach volleyball, effectively increasing swimwear product market growth. However, swimsuits of poor quality are frequently made of cheap materials that are potentially harmful to the skin. These materials include rough or abrasive fabrics, excessive synthetic fibers, and low-grade dyes and chemicals. When these materials come into contact with the skin, they can cause irritation, itching, and redness. Swimsuits should provide adequate ventilation and allow the skin to breathe.
COVID-19 Impact
The COVID-19 pandemic had a negative impact on swimwear market, with various factors influencing consumer behavior and preferences. Swimsuit demand decreased during the initial phase of the pandemic as travel restrictions, lockdowns, and the closure of public pools and beaches limited opportunities for swimming, sunbathing, and water-related activities. Moreover, the closure of retail stores and shopping malls hampered swimwear sales by limiting consumers' access to physical stores to try on and purchase swimsuits.
Browse key industry insights spread across 200 pages with 110 market data tables and figures & charts from the report on the "Global Swimwear Market Size, Share, and COVID-19 Impact Analysis, By Material (Nylon, Polyester, Spandex, Others), By End-User (Men, Women, Kids), By Distribution Channel (Online, Offline) and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032."
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The polyester segment is expected to hold the largest share of the global swimwear market during the forecast period.
Based on the material, the global swimwear market is classified into nylon, polyester, spandex, and others. Among these, the polyester segment is expected to hold the largest share of the swimwear market during the forecast period, due to its durability and resistance to wear and tear. Polyester-fiber swimwear lasts longer and is more resistant to chlorine, saltwater, and UV rays than other materials. Customers who want their swimwear to last for several seasons will be interested in this a long life.
The women segment is witnessing significant CAGR growth over the forecast period.
Based on end-users, the global swimwear market is segmented into men, women and kids. Among these, the women segment is witnessing significant CAGR growth over the forecast period. Women become more interested in swimwear in order to look fashionable at the pool or beach. Emerging trends such as bold colors, geometric prints, asymmetric designs, and classic yet modern shapes are also driving women's demand for swimwear.
The offline segment is witnessing significant CAGR growth over the forecast period.
Based on the distribution channel, the Swimwear market is segmented into online and offline. Among these, the offline segment is dominating the market with the largest revenue share over the forecast period. Due to fit and comfort concerns, many people prefer to try on swimwear before purchasing it. Customers can try on different sizes and styles at offline stores to find the best swimsuit for their body type. In addition, physical stores offer personalized assistance from sales associates who can provide expert advice on selecting the appropriate swimwear based on a customer's body shape, style preferences, and intended use.
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Asia Pacific dominates the market with the largest market share over the forecast period.
Asia Pacific is dominating the market share over the forecast period. As an effect of economic growth in many countries throughout the region, consumer disposable income has increased. People have more money to spend on recreational activities such as beach vacations and water-related activities, which frequently necessitate the use of swimwear as their incomes rise. A plethora of popular tourist destinations with stunning beaches and water attractions can be found in Asia Pacific. As these countries' tourism industries develop, domestic and international tourists will drive demand for swimwear products.
The North America market is expected to grow at the fastest rate during the forecast period. Temperature, culture, tourism, and other factors have all contributed to North American countries' rapid growth. North America has different seasons with hot summers in many areas. Swimwear sales increase as summer temperatures rise, as more people come to beaches, pools, lakes, and water parks to cool off and enjoy outdoor activities. In addition, North America is a cruise tourism hotspot, with numerous cruise lines operating in the region.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Swimwear market include Adidas AG, Puma SE, Nike Inc., Gap Inc., LVMH Moët Hennessy Louis Vuitton, Arena Italia S.p.A., Haddow Group Plc, Pentland Group PLC, Swimwear Anywhere Inc., Boardriders, Inc., Perry Ellis International, Inc., Arena S.p.A, PVH Corp., Zoke, Jantzen Apparel LLC and among others.
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Recent Developments
- In March 2023, JCPenney, a well-known American retailer, teamed up with Sports Illustrated (SI), a well-known American lifestyle brand, to launch a line of swimsuit collections suitable for both men and women, with 'beach-to-street' styles for customers.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2022 to 2032. Spherical Insights has segmented the global swimwear market based on the below-mentioned segments:
Swimwear Market, Material Analysis
- Nylon
- Polyester
- Spandex
- Others
Swimwear Market, End-User Analysis
- Men
- Women
- Kids
Swimwear Market, Distribution Channel Analysis
- Online
- Offline
Swimwear Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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