|Study Period:||2016 - 2026|
|Fastest Growing Market:||Asia Pacific|
|Largest Market:||North America|
Need a report that reflects how COVID-19 has impacted this market and its growth?
The swimwear market is expected to register a CAGR of 6.3% during the forecast period (2021-2026).
After the advent of the COVID-19, many swimming pools were forced to close down to minimize the spread of the virus. Moreover, the closure of schools and universities across the world in 2020 had negatively affected the sales in the global swimwear market.
Swimwear manufacturers and designers focus on the comfort level of swimwear, as it has a high impact on the consumer's purchase decision. The popularity of value-added features, such as trendy prints and convenient cuts, is driving the market growth.
Due to the rise in product innovations and advancing technologies, such as the incorporation of neoprene fibre to develop fabrics that improve their elasticity and efficacy, the swimwear market is expected to witness high sales in the coming years.
With the changing fashion trends, key factors, such as design, trend, and comfort of the fabric, play a major role in driving the market. Hence, there is a growing demand for branded swimwear, which offers high quality and greater resistance to the chlorine content in water.
Scope of the Report
A swimwear/swimsuit is clothing designed to be worn by people engaging in a water-based activity or water sports, such as swimming or sun-orientated activities, such as sunbathing. The global swimwear market is segmented by product type into women's swimwear, men's swimwear, and goggles and swim caps. By distribution channel, the market is segmented into online stores and offline stores. Moreover, the study provides an analysis of the swimwear market in the emerging and established markets across the world, including North America, Europe, Asia-Pacific, South America, and Middle-East and Africa. The report offers market size and forecasts in value (USD million) for the above segments.
|Goggles and Swim Caps|
|By Distribution Channel|
Key Market Trends
Growing Demand for Swimming as a Sport
Since 2004, swimming in the United States has experienced a notable bump in participation each year, following the Summer Olympics. High school and club participation have seen steady growth over time, but perhaps most importantly, the ability to swim has been increasing. In 2017, the USA Swimming Foundation announced a 5-10% increase in swimming ability among children in the United States.
The Asia-Pacific region is also expected to experience a higher growth rate than the other regions in the next five years. Fast-developing economies, like India and China, show great potential in terms of demand for swimwear. Also, the government initiatives and moments like "Khelo India" from the Government of India are also expected to increase the market potential of the market further during the forecast period.
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Asia-Pacific Region to Witness Significant Growth in the Swimwear Market
The Asia-Pacific region is expected to experience a higher growth rate than the other regions in the next five years. Fast-developing economies, like India and China, show great potential in terms of demand for swimwear. For instance, the Chinese swimwear market is driven by the country’s huge population that is finding a passion for water sports, as they consider swimming as the best form of physical exercise in China, which would help in driving healthy demand for swimwear products in China. Therefore, most local and foreign manufacturers are focusing on practical designs for indoor swimming and, at the same time, giving greater attention to traits like performance, comfort, design, and style.
In Australia, according to the National Sports Participation report, swimming was the most common outdoor activity in 2014. Nearly 50% of children aged 6-13, and 10% of individuals aged 14 and above, regularly participate in swimming activities. Also, increasing expenditure on lifestyle goods, coupled with an increasing preference for swimming as a leisure and recreational activity, is driving the growth of the swimwear market in the Asia-Pacific region.
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The key companies operating in the swimwear market are differentiating in the market by their product launches in terms of the material used, price, range, and size, in order to gain a competitive advantage. Pentland Group PLC (Speedo International Limited) is one of the most active companies in the market, with numerous partnerships, product innovations, and expansions. The company has invested heavily in Speedo International by continuously rejuvenating its products.
Some of the other major companies in the global swimwear market included Arena Italia SpA, Perry Ellis International Inc., and La Perla Group.
In December 2019, Nike launched a new swimwear collection designed for hijab-wearing women to not choose between modesty and movement with comfort and confidence.
In October 2018, TYR sport launched one of its most anticipated technical swimsuits in the industry to analyze drag from a microscopic perspective, The Tyr Venzo.
In December 2018, Nike Swim unveiled its first-gear collection complete with training aids and equipment to build speed and strength and achieve optimum performance in the water.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 Women's Swimwear
5.1.2 Men's Swimwear
5.1.3 Goggles and Swim Caps
5.2 By Distribution Channel
5.2.1 Online Stores
5.2.2 Offline Stores
5.3 By Geography
5.3.1 North America
18.104.22.168 United States
22.214.171.124 Rest of North America
126.96.36.199 United Kingdom
188.8.131.52 Rest of Europe
184.108.40.206 Rest of Asia-Pacific
5.3.4 South America
220.127.116.11 Rest of South America
5.3.5 Middle-East and Africa
18.104.22.168 South Africa
22.214.171.124 United Arab Emirates
126.96.36.199 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 Pentland Group PLC
6.4.2 Jockey International Inc
6.4.3 Under Armour Inc.
6.4.4 Nike Inc.
6.4.5 Perry Ellis International Inc.
6.4.6 Swimwear Anywhere Inc.
6.4.7 Arena SpA
6.4.8 Puma SE
6.4.9 LA Perla Group
6.4.10 Adidas AG
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID-19 ON THE MARKET
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Frequently Asked Questions
What is the study period of this market?
The Global Swimwear Market market is studied from 2016 - 2026.
What is the growth rate of Global Swimwear Market?
The Global Swimwear Market is growing at a CAGR of 6.32% over the next 5 years.
Which region has highest growth rate in Global Swimwear Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Global Swimwear Market?
North America holds highest share in 2020.
Who are the key players in Global Swimwear Market?
Pentland Group PLC, Swimwear Anywhere Inc., Adidas AG, Puma SE, Under Armour, Inc. are the major companies operating in Global Swimwear Market.