Global Wetsuits Market 2017-2021

Overview of the global wetsuits market

Market research analysts at Technavio predict that the global wetsuits market will grow steadily over the next four years and post a CAGR of almost 5% by 2021. This market research analysis identifies the increase in triathlon and water sports activities as one of the key growth factors for the global wetsuits market. The growing popularity of triathlon and water sports as a recreational activity is promoting the growth of the market. These activities require agility and demands consumers to use products that are lightweight and provide enhanced comfort without compromising on agility. The athletes also prefer the need for stretchable and latex-free products that provide additional benefits such as water and weather resistance. Moreover, the robust safety associated with the product is also compeling the athletes to leverage the use of wetsuits as compared with the conventional products. With the rising participation water sports activities, the coming years will witness the demand for innovative and designer wetsuits, which will in turn, fuel the growth of the wetsuits market.

In addition to the increasing participation in triathlon and water sports activities, the growing awareness about health and fitness will also contribute to the growth of the market. Owing to the hectic and sedentary lifestyles, the consumers are increasingly focusing on participating in outdoor activities such as water sports and fitness sports. With the growing emphasis on the need for a healthy lifestyle and the need to maintain a work-life balance, there will be an increasing participation of people especially the millennial population, in water-based sports. This will consequently drive the growth of the wetsuits market over the years.

Competitive landscape and key vendors

The wetsuits market is highly fragmented with the presence of well-established international and regional players. To remain competitive in the market, the vendors in the market are focusing on cost-effective offerings. To retain their market presence, the regional vendors in the market are focusing on innovation. However, the market will witness a rigid competition among the international and regional vendors based on factors such as innovation, quality, technology, and pricing.

The leading vendors in the market are –

• Billabong
• O'Neill
• Patagonia
• Quiksilver
• Rip Curl

The other prominent vendors in the market are Body glove, Buell Wetsuits, Cressi, C-Skins, Helly Hansen, Mares, Musto, SCUBAPRO, and Xcel.

Market segmentation by product and analysis of the wetsuits market

• Full wetsuit
• Short wetsuit

During 2016, the full wetsuit segment dominated the wetsuits market. Full wetsuits deliver enhanced protection by covering the entire body of an individual. The advantage to use these wetsuits for a wide range of extreme cold temperatures and climatic conditions and the availability of the products at various sizes, will further fuel the growth of this market segment.

Market segmentation by geography and analysis of the wetsuits market

• APAC
• Europe
• North America
• ROW

North America accounted for the major share of the wetsuits market during 2016. Factors such as the substantial rise in the popularity of water sports coupled with the easy affordability of these activities will trigger the growth of the market. Moreover, the inclination of a considerable number of teen and millennial population towards outdoor sports and the rising number of sports organizations promoting events such as triathlon, will also fuel the growth of the market in this region. Additionally, the rising obesity cases among children that is inducing schools and other educational institutions to include outdoor sports in their curriculum will also boost the growth prospects of the wetsuits market in North America.

Key questions answered in the report include

• What will the market size and the growth rate be of the of the global wetsuits market in 2021?
• What are the key factors driving the global wetsuits market?
• What are the key market trends impacting the growth of the global wetsuits market?
• What are the challenges to market growth?
• Who are the key vendors in the global wetsuits market?
• What are the market opportunities and threats faced by the vendors in the global wetsuits market?
• Trending factors influencing the market shares in the global wetsuits market in APAC, Europe, North America, and ROW?
• What are the key outcomes of the five forces analysis of the global wetsuits market?