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Swimwear Market Size worth $34.2 Billion by 2031 | CAGR: 6.0% - TMR Study

Thursday, 18 August 2022 18:30

WILMINGTON, DE / ACCESSWIRE / August 18, 2022 / Transparency Market Research Inc. - The value of the global swimwear market was clocked at US$ 19.1 Bn in 2021. The demand analysis of swimwear projected the market to rise at a CAGR of 6.0% during the forecast period, from 2022 to 2031.The global market value of the swimwear is likely to reach US$ 34.2 Bn by 2031. The market for swimwear is growing as a result of rising interest in swimming as a sport and global health awareness. Swimming is a full-body, low-impact activity that has many positive psychological and physical effects. It reduces tension, improves muscle strength, and increases endurance.

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In order to introduce swimwear that is lightweight, flexible, yet trendy, major companies in the global swimwear market are doing research and development operations. User application, individual preference, and prevailing fashion trends all influence the types of swimwear and swimsuits that are available. A study by Swim England's Swimming and Health Commission found that swimming reduces the likelihood of dying young by 28%. Swimming and other aquatic sports are safe, affordable, and effective ways to maintain your health and fitness, according to the research.

Asia-Pacific nations including Vietnam, India, China, and Bangladesh are major exporters of textiles and apparel to other countries. Due to their high labor productivity, these nations' production costs are cheap when compared to those of other reions or countries. The global swimwear market has seen 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 Market Report

  • Swimming decreases cholesterol and strengthens the cardiovascular system. Additionally, swimming is said to enhance mental wellness. Thus, it is anticipated that rising trend of swimming as a leisure and fitness pursuit, as well as greater health awareness, is likely to fuel the swimwear market.
  • Amongst resorts, theme parks, millennials, and beaches are becoming more and more popular. Additionally, the increase in family trips to theme parks and beaches, particularly after the height of the COVID-19 outbreak, is anticipated to drive growth prospects for swimwear market in the years to come.
  • Swimwear developed with high-tech materials comprising synthetic textiles is used for triathlons and other competitive swimming, amongst other water sports. Modern fabrics that include spandex, nylon, polyester and polyurethane are utilized to lessen drag when moving through water. These materials, which are utilized in competition swimsuits, let swimmers glide over the water and significantly lower the water absorbency. Such developments are expected to emerge as emerging trends of the swimwear.
  • The major players in the global swimwear market are constantly trying to introduce new solutions. Additionally, they are concentrating on the fast-growing sustainable swimwear so as to gain competitive advantage in the global market.

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Global Swimwear Market: Growth Drivers

  • Due to the existence of several brands and the emergence of a new trend for new swimwear styles, the non-athletic swimwear category is predicted to lead the global swimwear market throughout the forecast timeframe. For age groups spanning from children to those over 60, the non-athletic swimwear category is classified into many styles of swimsuits.
  • Based on fabric type, the swimwear industry is likely to be dominated by nylon, which is a fastest growing market for swimwear. It is anticipated that it will hold a sizable portion of the global market during the forecast timeframe. With a chemical structure like that of a protein, nylon is a strong, flexible, and synthetic polymer. Since nylon has higher comfort level and elasticity, it is frequently used in swimwear, particularly non-athletic swimwear.

Global Swimwear Market: Key Players

Some of the key market players are

  • Lefty Production Co.
  • LVMH Moët Hennessy Louis Vuitton SE
  • ASICS America Corporation
  • Lee Tai Sang Swimwear Factory Limited
  • ASICS America Corporation

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Global Swimwear Market: Segmentation

Product Type

  • Athletic
  • Non-Athletic

Fabric Type

  • Nylon
  • Polyester
  • Other Synthetics

End User

  • Men
  • Women
  • Kids

Distribution Channel

  • Online
  • Offline
  • Supermarkets & Hypermarkets
  • Specialized Stores

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About Transparency Market Research

Transparency Market Research registered at Wilmington, Delaware, United States, is a global market research company that provides global industry analysis reports and business consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyze information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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SOURCE: Transparency Market Research inc.

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