The swimwear market is estimated to grow at a CAGR of 6.0% during the forecast period, notes TMR study
- All over the world, swimsuits that can be worn as both swimsuits and bathing suits are becoming increasingly popular.
- Synthetic textiles made from sophisticated materials are used to create high-tech swimsuits, which are worn for professional water sports like swimming and triathlon
WILMINGTON, Del., August 9, 2022 /PRNewswire/ — The value of the global swimwear market has been estimated at $19.1 billion in 2021. Demand analysis for swimwear was predicted that the market will grow at a CAGR of 6.0% during the forecast period, 2022 to 2031. The global swimwear market value is expected to reach US$34.2 billion by 2031. The swimwear market is growing owing to the growing interest in swimming as a sport and global health awareness. Swimming is a low impact bodily activity that has many positive psychological and physical effects. It reduces tension, improves muscle strength and increases endurance.
In order to introduce lightweight, flexible yet fashionable swimwear, major companies in the global swimwear market are conducting research and development. Users’ application, individual preferences and prevailing fashion trends influence all types of swimsuits and swimsuits available. A study by the Swimming and Health Commission of Swim England found that swimming reduces the likelihood of dying young by 28%. According to research, swimming and other water sports are safe, affordable and effective ways to maintain your health and fitness.
Asia Pacific nations including Vietnam, India, China, and Bangladesh are important exporters of textiles and clothing to other countries. Due to their high labor productivity, the production costs of these nations are cheap compared to those of other regions or countries. The global swimwear market has witnessed an increase in demand for various Asian brands, including Sea Salt & Vinegar Beachwear, Glamazed, and Wacol Holdings Ltd.
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Key Findings of the Market Report
- Swimming lowers cholesterol and strengthens the cardiovascular system. Additionally, swimming is said to improve mental well-being. Thus, the rising trend of swimming as a leisure and physical activity, along with greater health awareness, is expected to fuel the swimwear market.
- Among resorts, theme parks, millennials and beaches are becoming increasingly popular. Additionally, increasing family travel to theme parks and beaches, especially after the peak of the COVID-19 outbreak, is expected to boost the growth prospects of the swimwear market in the coming years. .
- Swimsuits developed with high-tech materials including synthetic textiles are used for triathlons and other swimming competitions, among other water sports. Modern fabrics including spandex, nylon, polyester and polyurethane are used to reduce drag when moving through water. These materials, which are used in competition swimwear, allow swimmers to slide on water and significantly reduce water absorption capacity. Such developments are expected to emerge as emerging swimwear trends.
- The major players in the global swimwear market are constantly trying to introduce new solutions. Moreover, they focus on fast growing sustainable swimwear to gain a competitive edge in the global market.
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Global Swimwear Market: Drivers of Growth
- Due to the existence of multiple brands and the emergence of a new trend for new swimwear styles, the non-sporty swimwear category is expected to dominate the global swimwear market throughout the forecast period. For age groups ranging from children to over 60, the non-sporty swimwear category is categorized into several swimwear styles.
- Based on fabric type, the swimwear industry is likely to be dominated by nylon, which is the fastest growing market for swimwear. It is expected to hold a major share in the global market during the forecast period. With a chemical structure similar to that of a protein, nylon is a strong, flexible and synthetic polymer. Since nylon has a higher level of comfort and elasticity, it is frequently used in swimwear, especially non-athletic swimwear.
Global Swimwear Market: Key Players
Some of the major players in the market are
- Lefty Production Co.
- LVMH Moet Hennessy Louis Vuitton SE
- ASICS America Corporation
- Lee Tai Sang Swimwear Factory Limited
- WISRISE GARMENT CO., LTD
- ASICS America Corporation
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Global Swimwear Market: Segmentation
type of product
- Other synthetics
- On line
- Supermarkets & Hypermarkets
- Specialty stores
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