Swimwear Market To Surpass $29.1 Billion By 2025 Scrutinized In The New Analysis | Grand View Research, Inc.

March 09 14:12 2021
Swimwear Market To Surpass $29.1 Billion By 2025 Scrutinized In The New Analysis | Grand View Research, Inc.

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The report published by Grand View Research, Inc., states that swimwear market is set to experience high growth in the upcoming years owing to the factors such as, rising disposable income in developing economies, growing product innovations and increasing inclination towards swimming as an exercise due to rising health consciousness after the COVID-19 pandemic.

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. Also, the rising need for special types of clothing to prevent skin rashes that are caused by salts contained in sea water and the chlorinated water is helping the market expand. In addition to these important factors, increasing growth of beauty and spa industries and increased demand for specialty swimwear by women are also driving the swimwear market to some extent.

Region wise, Asia Pacific emerged as the largest market in swimwear products, due to their growing population, increasing popularity of swimming as one of the most important sports and rising health awareness among the people of developing countries such as India and China, among others. Although Asia Pacific is the largest regional market, western countries hold a significant share of the swimwear market owing to the increasing preference for swimming as a recreational activity. In addition to this, after a brief slowdown in the market due to COVID-19 pandemic, the market is now again back on growth path and is expected to ride the demand growth as lockdowns and restrictions are being lifted, leading to better market opportunities in the upcoming years. 

Further key findings from the study suggest:

Acquisitions and mergers provide the company with a great opportunity to further their expansion in the market. For instance, in December 2019, Bluestar Alliance, LLC (BSA) announced that it completed the acquisition of Hurley International, LLC from NIKE, Inc. This provided the company with extra leg room to further its strategies.

Product launches play an important role in boosting the demands in the market. For example, in December 2019, Nike launched a new swimwear collection designed for hijab-wearing women. This new product takes into consideration the beliefs of the hijab-wearing women and gains on the demand that comes from them.

COVID-19 pandemic has strongly influenced the fashion industry and has caused a decline in the growth. For example, Europe has experienced an economic decline of more than 7% in total. However, with gradual lifting of restrictions, the market is expected to bounce back strongly in the upcoming years.

In terms of revenue, the polyester fabric type is projected to expand at a CAGR of 7.3% over the forecast period

On the basis of end user, 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.

Some of the key players in the market are Arena; Diana Sport; Dolfin Swimwear; NIKE Inc.; Perry Ellis; and Zoke.

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Swimwear Market Segmentation

Grand View Research has segmented the global swimwear market on the basis of fabric type, end user, and region:

Swimwear Fabric Type Outlook (Revenue, USD Billion, 2015 – 2025)

    • Nylon
    • Polyester
    • Spandex
    • Others

Swimwear End User Outlook (Revenue, USD Billion, 2015 – 2025)

    • Men
    • Women’s
    • Boys
    • Girls

Swimwear Regional Outlook (Revenue, USD Billion, 2015 – 2025)

    • North America
        • U.S.
        • The U.K.
    • Asia Pacific
        • China
    • Central & South America
        • Brazil
    • MEA
        • South Africa

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Browse More Related Report:

Men’s Wear Market: The global men’s wear market size was valued at USD 483.0 billion in 2018 and is anticipated to expand at a CAGR of 6.3% over the forecast period.

Maternity Wear Market: The global maternity wear market size was valued at USD 18.3 billion in 2018 and is anticipated to expand at a CAGR of 4.3% from 2019 to 2025.

About Grand View Research

Grand View Research is an India & U.S. based market research and consulting company headquartered in San Francisco, which offers syndicated research reports, customized research reports, and consulting services. The company’s rich database includes in-depth analysis across a range of industries including chemicals, materials, energy, healthcare, and technology, among others.

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