Swimwear Market to Hit USD 30.5 Billion by 2028 owing to Increasing Water Sports Activities Globally

The global swimwear market was worth USD 21.43 billion in 2021. SkyQuest anticipates the market to hit USD 30.5 billion by 2028, growing at a steady CAGR of 5.8% during the forecast period (2022-2028).

Westford, USA, Jan. 24, 2023 (GLOBE NEWSWIRE) -- Swimming is one of the most popular leisure and fitness activities globally. The demand for swimwear is increased by consumers' interest in swimming and the number of family beach vacations, which fuels the market's expansion. Furthermore, the swimwear market is expanding due to consumers leading healthier lifestyles and participating in more water sports like swimming. In addition, factors including the rise in women's demand for high-end swimwear, the expansion of public and private swimming facilities, and the adoption of e-commerce platforms all contribute to the market's rapid progress.

Swimwear is commonly worn by people participating in water-based activities such as swimming and bathing. It shields the wearer from chlorinated swimming pools and seawater, which contain salts that can cause skin rashes. Product demand is being driven by the global increase in population and product innovation to meet the need for specialized clothing for water sports and poolside or beachside vacations.

Based on SkyQuest's global research, in the sports & swimwear segment, the product volume is expected to amount to 4,376.4m pcs by 2028, and it's anticipated to show a volume growth of 3.8% in 2025. Such substantial growth projections indicate lucrative opportunities for market participants active in the swimwear market.

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Women Swimwear Segment to Generate Impressive Sales in the Application Category

According to SkyQuest, the women's swimwear application segment held a 52.4% revenue share in 2022 and is projected to witness lucrative growth to reach 57.6% by 2028. Innovative product ranges are in high demand in the global women's swimwear market. It has inspired manufacturers to release cutting-edge swimwear, like swimsuits that block damaging U.V. radiation and smart swimwear. Thus, the development of the swimsuit market as a whole will benefit from these novel products.

North America is predicted to reach 32.5% of the market share in the coming years. The United States is the most important market in North America for swimwear. The market in this region will grow faster than the market in Europe. The rising number of people participating in swimming activities will aid the growth of the swimwear market in North America.

The report highlights the market size and the CAGR of the key segments, thus quickly providing relevant information on the global market. A mix of the bottom-up and top-down methods of revenue estimation is implemented to gain precise results. Furthermore, country and regional level trends are studied wisely, and the same was applied while calculating market shares and growth rates of numerous segments.

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Polyester Segment to Register Fastest Growth Rate to Dominate the Swimwear Market

As per SkyQuest's market insights, polyester registered the fastest growth rate to capture a 34.3% share in 2022, and it is likely to take this lead to 37.5% by 2028. Polyester is used to manufacture swimwear that is resistant to stretching and shrinkage. Furthermore, this material's quick drying and easy-to-wash ability drive demand among manufacturers. Moreover, it increases the durability of swimwear due to benefits such as resistance to wrinkles, abrasion, and most chemicals. Thus, incorporating advanced fabrics in swimwear manufacturing is expected to boost the global market growth.

The Asia Pacific region has positioned itself as the largest regional market for swimwear products. Population growth, rising health awareness, and product innovation are expected to drive market growth in the region's developed economies. Furthermore, domestic growth in water sports and fitness participation among developing countries such as China and India is expected to influence regional market growth positively.

The report includes key driving forces influencing the commercialization landscape of the swimwear market as well as their impact on the revenue scale of this business sphere. The market report includes rising product demand from key geographies, pivotal applications, and potential business arenas.

Key Developments in Swimwear Market

  • WHOOP, a pioneer in swimming innovation, announced a cooperation with the fashion industry to produce the first genuinely intelligent swimwear. To provide a new way to track workouts in the water, the two brands have created swimwear that combines TYR's renowned performance-first fit and fabrics with WHOOP Any-WearTM Technology. As a result, swimmers, triathletes, fans of functional fitness, and others may now step up their training in the pool with the help of TYR x WHOOP Durafast® Elite Jammer Swimsuits and TYR x WHOOP Durafast® Elite Diamondfit Swimsuits.
  • The Lycra Company, a pioneer in creating cutting-edge fibers and technological solutions for the textile and garment industry and a long-standing official partner of MarediModa, is back with an even more extensive selection for the swimwear market. In addition, the company's exclusive lounge at MarediModa will offer more prosperous and more interesting activities to get a closer look at the chosen technology of the Lycra brand.
  • Arena USA, a leading global swimwear company, has unveiled the Lydia Jacoby-designed and -inspired Signature Edition Capsule Collection. Working closely with the arena's U.S. product team and designers, Lydia's first Signature Product Collection started as a series of mood boards by Jacoby, inspired by a combination of her style and hometown of Seward, Alaska. The collection's objective was to offer a distinctive perspective to the conventional training suit aesthetic.
  • Volleyball Canada and the swimsuit brand Left On Friday signed a three-year agreement. Left On Friday will create the team uniforms, bikinis, and accessories for Canada's women's beach national teams and serve as a significant sponsor of the country's National Beach Volleyball Championships (also known as Beach Nationals). As a result, the best women's beach athletes in Canada will represent their country at competitions worldwide while sporting Left On Friday gear.

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The market is fragmented, and vendors are deploying growth strategies. Companies are developing innovative and personalized products to gain a competitive advantage in the market. To capitalize on opportunities and recover from the post-pandemic impact, market vendors should emphasize growth prospects in fast-growing segments and stay firmly in slow-growing segments. The section on company profiles investigates the various companies that operate in the industry. It assesses these companies' financial prospects, research and development status, and expansion plans for the coming years.

Key Questions Answered in the Swimwear Market Report

  • Which are the leading driving and restraining factors for the swimwear market?
  • Who are the most active players in the market with a higher growth journey?
  • Which are the key segments driving huge revenue share globally?
  • What are the major opportunities and big challenges for the market participants?

Prominent Players in Swimwear Market

  • Arena Swimwear
  • Beachbunny Swimwear
  • Nike Inc.
  • Alix
  • Zoke
  • Diana Sport
  • American Apparel, Inc
  • Perry Ellis
  • Jantzen Apparel LLC
  • Adidas AG

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