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.
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
- WISRISE GARMENT CO., LTD
- ASICS America Corporation
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Global Swimwear Market: Segmentation
- Other Synthetics
- Supermarkets & Hypermarkets
- Specialized Stores
Rainwear Market - The global rainwear market is expected to US$ 2.24 Bn by the end of 2031, It is estimated to expand at a CAGR of 5.9% from 2022 to 2031
Driving Apparel Market - The Europe market for driving apparels stood at US$ 3.3 Bn in 2018. Rising at a healthy CAGR of 5.6% from 2019 to 2027, the market valuation is likely to touch US$ 5.3 Bn by the end of 2027.
Luxury Apparels Market - The global luxury apparel market is expected to cross the value of US$ 115 Bn by the end of 2031, it is estimated to expand at a CAGR of 4% from 2021 to 2031
Fishing Waders Market - The global fishing waders market is expected to reach US$ 1,709.1 Mn by the end of 2031, grow at a CAGR of 6.3% from 2022 to 2031
Functional Apparel Market - The global functional apparel market is expected to reach value of US$ 638.7 Bn by the end of 2031, expand at a CAGR of 5.9% from 2022 to 2031
Bridal Gowns Market - The global bridal gowns market is expected to cross the value of US$ 82 Bn by the end of 2031, expand at a CAGR of 7.01% from 2021 to 2031
Outdoor Clothing Market - The global outdoor clothing market is expected to reach the value of US$ 23.6 Bn by the end of 2031, expand at a CAGR of 5.6% from 2022 to 2031
Knitwear Market - The global knitwear market is expected to surpass value of US$ 998.6 Bn by the end of 2031, grow at a CAGR of 5.6% from 2022 to 2031
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