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The swimwear market size is estimated to grow at a CAGR of 8.99% between 2022 and 2027. The market size is forecast to increase by USD 10,570.93 million. The growth of the market depends on several factors such as the increasing demand for long-sleeve swimsuits, the rise in the number of swimming pools, and the growing participation in swimming activities by the old and physically disabled population.
This swimwear market report extensively covers market segmentation by type (women's swimwear, mens swimwear, and childrens swimwear), distribution channel (offline and online), and geography (Europe, North America, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
One of the key factors driving the swimwear market growth is the rise in number of swimming pools. There has been an increase in the number of participants and enrollments in swimming activities in public and residential swimming pools fuelled by the increase in the number of swimming pools globally. Factors such as the growing number of residential constructions rising interest in swimming activity, and growing awareness regarding the benefits of swimming are contributing to the increase in swimming pools.
Moreover, the growing popularity of swimming and the high demand for swimming pools in the US have resulted in the construction of the world's largest indoor swimming pool in the region. Some of the key regions which have a high number of swimming pools include the UK, Germany, France, Australia, Canada, and China. Hence, such factors are positively impacting the market which in turn will drive the market growth during the forecast period.
A key factor shaping the swimwear market growth is the growth of online and omnichannel retail. There is a growing popularity for e-retailing among consumers due to its time-saving and cost-effective process of purchasing products. Factors such as the high penetration of Internet services, improved economy, and the upgrading of purchase and delivery options with the emergence of e-commerce. have fuelled the popularity of online shopping.
Moreover, several market players such as Speedo are adopting omnichannel retailing strategies as an effective o engage consumers both online and offline. For instance, Speedo utilizes retailers such as Walmart and DICK'S Sporting Goods, its website, and has partnerships with third-party channels such as Amazon and Alibaba to sell its products. Hence, such factors are positively impacting the market which in turn will drive the market growth during the forecast period.
Limited access and availability of swimming pools in areas with water scarcity is one of the key challenges hindering the swimwear market growth. There has been a significant decrease in water levels across several countries. Some of the key factors leading to the crisis of consumable water include the growing water pollution levels, climate change, geographical differences, varying consumption patterns among the population, and urbanization.
Moreover, there are various restrictions on water consumption across residential and commercial establishments in South Africa. Furthermore, water pollution caused due to the contamination of available water minimizes the amount of water available for personal consumption. Hence, such factors are expected to hinder the market growth during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Swimwear Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Adidas AG: The company offers swimwear such as women's swimsuits and swimwear that gives comfort and design in high-quality fabrics, whether swimming competitively or chilling at the beach.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The women's swimwear segment is estimated to witness significant growth during the forecast period. There is a growing adoption of women's swimwear segment fuelled by the increasing demand for luxury fashion products and accessories. Additionally, there are a wide variety of product offerings with several designs and patterns available in the market. In addition, women tend to keep up with the latest trends in the fashion industry as they are more fashion-conscious than men.
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The women's swimwear segment was the largest segment and was valued at USD 11,522.61 million in 2017. As a result, there is significant growth in this segment as there is a huge demand for innovative products among women customers. Thus, several market players are launching innovative swimwear, such as smart swimwear and swimsuits that protect users from harmful UV rays. Such launches of innovative products are positively impacting the market. Furthermore, there is an increasing focus on incorporating fashion elements into swimwear such as bold colors, asymmetric designs, varying prints, and trending patterns. in order to attract young customers. Hence, such factors are fuelling the growth of the segment which in turn will drive the market growth during the forecast period.
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North America is estimated to contribute 29% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Another region offering significant growth opportunities to market players is Europe. There is a growing popularity of swimming as a leisure and sports activity and swimwear as a fashion element. among Eastern European countries. Additionally, several European countries. especially, Western Europe is the prime location for fashion products due to the presence of different well-known fashion brands such as Gucci. Factors such as the wide availability of fashion products such as swimwear are major factors fuelling the growth of the market in the region.
Additionally, there is an increasing preference for luxury brands due to the high living standards, the launch of innovative products, the significant presence of luxury brands, and the strong brand value of luxury products. Some of the major countries in Europe which contribute to the significant market growth include the UK, France, and Germany. Hence, such factors are expected to drive the market growth in the region during the forecast period.
In 2020, during the COVID-19 pandemic, the growth of the global swimwear market witnessed a significant slowdown due to the shutdown of retail outlets and manufacturing facilities that manufacture swimwear in North America. However, in 2021, the initiation of large-scale vaccination drives lifted the lockdown and travel restrictions, which led to the reopening of leisure facilities such as swimming pools and swimming events. Such factors are expected to drive the market during the forecast period.
The swimwear market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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Swimwear Market Scope |
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Report Coverage |
Details |
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Page number |
166 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 8.99% |
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Market growth 2023-2027 |
USD 10,570.93 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
8.55 |
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Regional analysis |
Europe, North America, APAC, South America, and Middle East and Africa |
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Performing market contribution |
North America at 29% |
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Key countries |
US, Germany, France, UK, and Brazil |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Adidas AG, American Eagle Outfitters Inc, Arena Spa, DICKS Sporting Goods Inc., Embry Holdings Ltd., Groupe Chantelle, Haddow Group, Hermes International SA, L Space, La Perla Global Management UK Ltd., LVMH Moet Hennessy Louis Vuitton SE, Pentland Brands Ltd., Perry Ellis International Inc., PUMA SE, PVH Corp., Seafolly Holdings Pty. Ltd., Sunsets Inc., Swimwear Anywhere Inc., Urban Outfitters Inc., and Wacoal Holdings Corp. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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