The swimwear market is witnessing strong expansion, projected to grow from $22.72 billion in 2023 to $24.39 billion in 2024, achieving a CAGR of 7.4%. This growth is driven by the rise of beach tourism and body positivity movements. By 2028, the market is anticipated to reach $32.1 billion, with a CAGR of 7.1%, fueled by a focus on sustainability and inclusive sizing.
Major Driver In The Swimwear Market
The swimwear market is poised for growth due to the increasing consumer preference for water activities. The surge in popularity of sports, driven by health considerations, and the rise of international water sporting events are motivating consumers to engage in water sports and recreational pursuits. In October 2023, the Livestrong Foundation reported that annually, more than 91 million Americans, comprising 31% of the population, participate in swimming in lakes, rivers, and oceans. The statistics reveal that 36% of children aged 7 to 17 swim at least six times a year, and 15% of adults swim six times or more annually on average. The overall uptick in outdoor swimming, attributed to health and recreational benefits, is a key contributor to the growth of the swimwear market. This trend is evident in 2023 and is anticipated to continue flourishing through 2024 and 2028.
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Swimwear Market Competitive Landscape
PVH Corp, Pentland Group, Wacoal, Perry Ellis International, Quiksilver Inc., American Apparel Inc., Speedo International Limited, Arena S.p.A, Arena Italia S.p.A., Platypus Australia Swimwear, La Perla Group, PARA S.p.A., Hosa Industrial Co Ltd., TYR Sport Inc., Seafolly, Jantzen Inc., Gottex Swimwear, Moeva Swimwear, Diana Sport, Eveden Group, Dolfin Swimwear, Calzedonia Group, Zoke, Seaspray Swimwear, NOZONE, LIVIN' SWIMWEAR, ND Swimwear, Derong Group, David Mare
Key Swimwear Market Trend
Developing fabrics that improve their elasticity and efficacy is a key trend in the swimwear market. Elasticity is crucial in swimwear as it shapes the body and keeps the garment firmly against your body. The elastic in swimwear withstands chlorinated water, salt water, and the sun. The companies operating in the swimwear market are developing innovative fabrics to meet customer-centric demands and increase comfort. For instance, in May 2021, MeUndies, a US-based manufacturer of activewear launched a new swimwear collection manufactured with fabric sourced from recycled plastic bottles and recycled nylon material. The new fabric is eco-friendly, soft, super-elastic in nature and safe for oceans.
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Swimwear Market Segmentation
The swimwear market covered in this report is segmented –
1) By Type: Women's Swimwear, Men's Swimwear, Goggles and Swim Caps
2) By Fabric Type: Nylon, Polyester, Spandex, Other Fabric Types
3) By End-User: Men, Women, Kids
4) By Distribution Channel: Online Stores, Offline Stores
By Geography:The regions covered in the swimwear market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Asia-Pacific was the largest region in the swimwear market in 2023.
The Swimwear Global Market Report 2024 furnishes information about the global swimwear market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
