Swimwear Market Rising With Growth In New Technology Trends Research By 2025
The global swimwear
market size is expected to reach USD 29.1 billion by 2025, expanding at
a CAGR of 6.4%, according to a new
report by Grand View Research, Inc. Growing population, rising awareness
regarding health consciousness, rapid surge in poolside and beachside
vacations, increasing water based activities, and rapid changes in fashion
trends are the key factors responsible for industry growth.
Increasing rate of population across
the globe and product innovation to fulfill the need of a special type of
clothing for various water sports and poolside or beachside vacations are
driving the market. Growing fitness concerns among various age groups are
fueling the demand for swimming as a best physical exercise. This is, in turn,
paving a roadmap for the purchase of swimwear products in large number. In some
of the western countries, exposing their body is a common phenomenon, which has
effectively increased the sale of beachwear products in the market.Growth of
beauty and spa industries and increased demand for specialty swimwear by women
are also driving the swimwear and beachwear market to some extent.
Asia Pacific is anticipated to witness
substantial growth owing to growing rate of population, rising health awareness
among people, and product innovation, especially in developed economies.
Additionally, growth in the participation rate of water sports and fitness
among developing countries such as China and India at a domestic level is
expected to positively influence the regional market growth.
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Western countries hold a significant
market share due to relative growth in the acceptance of swimwear in western
European countries in recent times. Continuous increase in the expenditure on
leisure goods, coupled with increasing preference for swimming as a
recreational activity, is driving the market in North America. U.S dominated
the market in terms of revenue in 2018, accounting for above 80% share in North
America. It is estimated that on an average, an American woman alone owns four
swimsuits. Most of the designer swimsuits are sold in North America due to
their luxury beading, hardware features, and comfort. These are the factors
that are expected to spur the market growth in the region.
Further key findings from the study suggest:
·
In terms of revenue, the
polyester fabric type is projected to expand at a CAGR of 7.3% over the
forecast period
·
The women end user segment
dominated the global market with an overall revenue share of 66.6% in 2018
·
The Swimwear market in France,
Italy, Spain, Germany, and U.K. has also expanded to a great extent in the last
few years.
The
global swimwear market size was valued at USD 18.9 billion in 2018. Swimwear is
widely used by people involved in water-based activities, such as swimming and
bathing. It protects the wearer from chlorinated water in swimming pools and
sea water, which contains salts that can cause skin rashes. Increasing rate of
population across the globe and product innovation to fulfill the need of a
special type of clothing for water sports and poolside or beachside vacations
are driving the market.
Rapid
changes in fashion trends and increase in disposable income of consumers,
resulting in purchase of different kinds of swimwear products based on their
comfort, activities, and fashion appeal are projected to augment the
industry demand. Luxury swimwear that offers value-added features such as
convenient cuts and trendy prints and enhance the slimming effect is gaining
popularity among women of different regions. Growth of beauty and spa
industries and increased demand for specialty swimwear by women are also
driving the swimwear and beachwear market to some extent.
Swimming
is considered to be the most popular fitness and recreational activity. Growing
fitness concerns among various age groups are fueling the demand for swimming
as a best physical exercise. This is, in turn, paving a roadmap for the
purchase of swimwear products in large number. In some of the western countries,
exposing their body is a common phenomenon, which has effectively increased the
sale of beachwear products in the market. Additionally, increasing process
innovation and technological advancements in developed economies is driving the
market. Development of various kinds of advanced fabrics that hold their color
for a longer time period and are resistant to chlorine has further boosted the
market growth.
Swimming
is the most popular sport in many countries such as Russia, China, India, and
Australia. Increase in the participation rate of water sports also contributes
to the industry growth. However, swimwear requires some special kind of
systematic processing and designing of raw materials and fabrics such as
polyester, nylon, polypropylene, spandex, and neoprene to produce the desired
texture, design, look, and other fashion attributes of swimwear. Price
volatility of these raw materials affect the size of the market to a greater
extent. Huge investments are required for R&D to cater the fluctuating demand
for different designs, which leads to high cost of designing, thereby hampering
the growth of the market.
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Press Release of this report:
Grand View Research has segmented the
global swimwear market on the basis of fabric type, end user:
Swimwear Fabric Type Outlook (Revenue, USD Billion, 2015
- 2025)
·
Nylon
·
Polyester
·
Spandex
·
Others
Swimwear End User Outlook (Revenue, USD Billion,
2015 - 2025)
·
Men
·
Women
·
Boys
·
Girls
About Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
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