USD 12.5 billion
Report ID: SQMIG30L2057 | Region: Global | Published Date: April, 2023 | Pages: 165 | Tables: 144 | Figures: 78
Swimwear Market size was valued at USD 12.5 billion in 2021 and is poised to grow from USD 12.96 billion in 2022 to USD 16.89 billion by 2030, growing at a CAGR of 3.5% in the forecast period (2023-2030).
It shields the wearer from salty sea water and chlorinated swimming pool water that can irritate the skin. The swimwear market is being driven by the rising rate of global population and product innovation to meet the need for specialized clothes for water activities and vacations by the pool or beach. It is expected that consumers will acquire various types of swimsuit goods based on their comfort, activities, and fashion appeal as a result of rapid changes in fashion trends and a rise in disposable money. Women from many cultures are becoming more and more interested in designer swimwear that enhances the slimming effect and gives value-added features such as practical cuts and fashionable designs. The growth of the spa and beauty sectors as well as rising female demand for specialty swimwear are in part driving the swimwear and beachwear market.
Swimming is thought to be the most well-liked sport and leisure activity. Growing fitness concerns among people of all ages are boosting interest in swimming as the finest physical activity. In turn, this is laying the groundwork for the mass purchasing of swimwear products. Exposing one's body is a widespread practice in various western nations, which has helped the market's sales of beachwear products grow. The market is also being driven by growing technical and process innovation in developed economies. The market has grown as a result of the development of numerous types of sophisticated fabrics that maintain their colour for a longer amount of time and are resistant to chlorine.
In numerous nations, including Australia, China, India, and Russia, swimming is the most popular sport. Growing industry is also aided by a rise in the popularity of water sports. To generate the appropriate texture, style, look, and other fashion aspects of swimwear, however, certain kinds of systematic processing and designing of raw materials and textiles like polyester, nylon, polypropylene, spandex, and neoprene are needed. The price volatility of certain raw materials has a higher impact on market size. Large investments are needed in R&D to meet the fluctuating demand for various designs, which raises the cost of designing and restrains market expansion.
US Swimwear Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 12.5 billion
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Global Swimwear Market is segmented based on Activity, Price, Fabric Type, End User, and Region. Based on Fabric Type the market is further sub segmented into Polyester, Nylon, Spandex. Based on End User the market is further sub-segmented into Men, Women, Boys, Girls. Based on Region, the market is further sub-segments into North America, Europe, Asia Pacific, Latin America, and MEA.
Swimwear Market Analysis by Fabric Type
The market is segmented into polyester, nylon, and spandex based on fabric type. In 2021, polyester held the greatest share with 33.4%. Polyester is used in the production of several types of swimwear to achieve stretching and shrinking resistance. Additionally, the ease of washing and quick drying makes this material popular with manufacturers. Additionally, it increases the longevity of swimwear due to benefits including resistance to wrinkles, abrasion, and most pollutants. Thus, it is expected that the use of cutting-edge materials in the production of swimwear would accelerate market expansion on a global scale. In the industry, nylon is a significant fabric type as well because of its excellent elastic properties, light weight, and smooth fitting. It serves as a polyester substitute for fabric. Given that nylon fabric is less durable and chloride resistant than polyester, it is growing more slowly in the market.
Swimwear Market Analysis by End Use
The swimwear market share represented by women in 2021 was the highest; over the projection period, this segment is expected to grow at a CAGR of 6.2%. Women are buying more swimsuits because they want to look chic at the beach or pool. The desire for swimwear among women is also being fueled by new trends including vivid colours, geometric prints, asymmetrical designs, and traditional yet contemporary shapes. As a result, designers continuously update their swimwear and beachwear collections. The women's end-user segment is growing due to rising demand for more specialised swimwear, such as thermal swimwear and swimwear with UV protection. Additionally, the growing integration of fashion elements into swimwear is drawing in more customers, particularly the younger age. These are some of the main themes fueling the market for swimwear and beachwear's wholesome expansion.
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Asia Pacific became the largest geographic market for swimwear in 2021. Population growth, increased health consciousness, and product innovation are projected to fuel market expansion in the region's developed economies. Additionally, an increase in domestic water sport and fitness involvement among developing nations like China and India is expected to have a beneficial impact on the expansion of the regional market.
North America is the largest regional market for swimwear, followed by Europe. Due to the recent relative development in swimwear adoption in western European countries, western countries hold a sizable market share. The market in North America is being driven by an ongoing rise in leisure goods spending as well as a rising preference for swimming as a recreational activity. In terms of sales, the US dominated the market in 2021, with a share of more than 80% in North America. An American lady alone is thought to own four bikinis on average. Due to its luxurious beading, hardware, and comfort, the majority of designer swimsuits are sold in North America. These are the elements that are expected to fuel market expansion in the area.
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To expand their product range and maintain a dominant position in the market, major manufacturers are concentrating on implementing critical business strategies like collaboration, acquisition, and new product releases. Multiple international and local players are present in the various segments of the global electric Swimwear market. Since increasing their market share is the main objective of most market participants, innovation is being included in both their products and acquisitions.
Swimwear Market Top Player’s Company Profiles
Swimwear Market Recent Development
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected using Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, the polyester segment dominated the global Swimwear Market in 2021 and is expected to maintain its dominance throughout the forecast period. In 2021, Asia Pacific dominated the global Swimwear Market owing to the region's highly aware and economically stable population.
|Market size value in 2021||USD 12.5 billion|
|Market size value in 2030||USD 16.89 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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For the Global Swimwear Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Swimwear Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Swimwear Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
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