This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. See for yourself.
Swimwear Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
GET A FREE SAMPLE
Report Overview
The global swimwear products market was valued at USD 15.5 billion in 2022 and is projected to expand at a CAGR of 5.7% from 2023 to 2030. The swimwear market is witnessing significant growth due to the increasing demand for fashionable swimwear products and the growing awareness and acceptance of beachwear. Furthermore, the increasing number of swimming pools and resorts is driving the demand for swimwear products.
Manufacturers are focusing on introducing new products with innovative designs and styles to meet consumers’ demands. For instance, in April 2021, Speedo launched a new range of swimwear, including innovative designs and high-performance materials such as Speedo Endurance+, Speedo Fastskin, and Speedo Aqualab. Additionally, manufacturers are introducing swimwear with features such as SPF protection, chlorine resistance, and quick-drying materials to provide comfort and enhance the consumer experience.
The increasing popularity of beachwear and the rise in disposable income are creating opportunities for the market. Furthermore, the growing demand for eco-friendly swimwear is expected to drive the market. Manufacturers are introducing swimwear made from sustainable materials such as recycled polyester and nylon. For instance, in August 2021, American Eagle Outfitters launched a sustainable swimwear line called Next Wave. The products are made with recycled nylon and polyester and use natural dyes that are free of toxic chemicals.
Furthermore, the increasing number of fashion shows and media coverage of new swimwear trends is expected to drive the demand. For instance, in June 2021, the Miami Fashion Week showcased the latest trends in swimwear. Furthermore, the growing number of fitness clubs and gyms is expected to boost the market growth. The increasing demand for swimwear for fitness activities is creating opportunities for the market.
Moreover, the increasing popularity of e-commerce platforms is expected to drive the market. The availability of a wide variety of swimwear products and competitive prices is boosting the demand from online platforms. Additionally, the growing trend of athleisure is expected to propel the market. The increasing demand for fashionable swimwear for recreational activities is creating opportunities for the market.
Product Insights
The swimwear segment accounted for the largest market share and is anticipated to reach a market size of USD 7.48 billion by 2026. Growing interest in physical activities such as swimming and beach activities among individuals is driving the demand for swimwear products globally. According to an article published by SwimOutlet, in October 2019, swimming is the most popular leisure activity in the US, with almost 40 million people participating in some form of swimming each year. Furthermore, rising demand for fashionable swimwear with unique designs and prints is expected to drive the growth of the market.
The beachwear segment is expected to expand at the fastest CAGR over the forecast period. The beachwear segment includes a variety of apparel, such as shorts, skirts, and shirts. Factors such as rising popularity of beach holidays and increasing number of beach resorts worldwide are driving the demand for beachwear products. In addition, growing fashion trends and rising demand for fashionable beachwear are expected to drive the market for beachwear.
Distribution Channel Insights
The department stores segment is anticipated to expand at a CAGR of 10.5% from 2021 to 2027. Department stores are likely to remain the dominant distribution channel for swimwear products due to their wide product range and availability of multiple brands. Moreover, the presence of multiple brands at one place enables customers to compare and choose the best product according to their preferences. In addition, the majority of the customers prefer to touch and feel the product before buying, which is a key factor driving the growth of this segment.
The e-commerce segment is estimated to expand at the highest CAGR of 13.8% during the forecast period. The rising penetration of the internet and smartphones is driving the growth of this segment. Additionally, the availability of various discount offers and cashback schemes are further propelling the demand for online stores. Furthermore, the development of online shopping applications and websites by various vendors has further led to an increase in the sales of swimwear products through online stores.
Type Insights
The non-elastic segment accounted for the largest revenue share of 74.2% in the year 2022. The rising demand for non-elastic swimwear for swimming activities is driving the growth of this segment. The non-elastic swimwear offers excellent support, comfort, and freedom of movement, and is widely popular among athletes and professionals. Furthermore, the influx of non-elastic swimwear made from innovative materials such as chlorine-resistant fabric, quick-drying fabric, and UPF-treated fabric are also driving the demand for this segment.
The elastic segment is anticipated to expand at the highest CAGR of 8.3% over the forecast period. The rising demand for comfort and flexibility among consumers has created strong demand for elastic swimwear. Increasingly, manufacturers are focusing on developing elastic swimwear with features such as compression, breathability, and quick drying. Furthermore, the availability of elastic swimwear in a variety of colors and designs is driving the demand for this segment.
Regional Insights
Europe is estimated to hold the largest revenue share in the global swimwear products market in 2022. This is mainly due to the presence of multiple renowned manufacturers in the region, such as Speedo, Arena, and Nike. Additionally, the increasing trend of beach holidays in the region is anticipated to drive the market in the coming years. For instance, according to the Organization for Economic Co-operation and Development (OECD), the number of beach holidays in the European Union (EU) increased from 8.4 million beach holidays in 2017 to 10.6 million in 2019.
North America is expected to witness the second-fastest growth in the coming years. This can be attributed to the increasing demand for fashionable swimwear from millennials and Generation Z consumers in the region. Furthermore, the growing popularity of beach culture in the region is expected to drive the market for swimwear products. For instance, in June 2021, the luxury swimwear brand Summersalt launched a new range of swimwear for men in the U.S.
Financial Projections
In this part of the swimwear products business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your swimwear products business. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main source of revenues for a swimwear products business comes from the sale of swimwear items. Here you will find a list with a description of each of the items, such as swimsuits, cover-ups, shorts, and accessories, and other possible sources of profit such as discounts and promotions, the sale of gift cards, and the development of custom products.
Projecting Expenses
In this section, all the regular expenses related to keeping the swimwear products business running will be described. The list of operating expenses includes material costs, manufacturing costs, rent and utilities, wages, advertising, and others.
Key companies & market share insights
Some of the key companies operating in the swimwear market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:
– In June 2022, H&M launched a new collection of swimwear designed to provide superior protection against sun rays.
– In August 2022, Speedo launched a new range of stylish and comfortable swimwear designed for athletes.
– In October 2022, Zara launched a new range of designer swimwear featuring the latest trends.
Some of the prominent players in the swimwear market include:
– H&M
– Speedo
– Zara
– American Eagle Outfitters
– Forever 21
– Victoria’s Secret
– ASOS
– Lands’ End
– La Perla Group
– Jantzen
Global Swimwear Market Segmentation
This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global swimwear products market based on product, distribution channel, type, and region:
1. Product Outlook (Revenue, USD Million, 2017 – 2030)
– Swimwear
– Accessories
2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
– Supermarkets & Hypermarkets
– Online
– Others
3. Type Outlook (Revenue, USD Million, 2017 – 2030)
– Mass
– Premium
4. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa
Frequently Asked Questions
[Q]: What is the Potential for Growth in the Swimwear Market?
[A]: The global swimwear market is expected to grow at a CAGR of 5.2% during the forecast period from 2019 to 2025. The market is driven by the increasing number of beach lovers, rising disposable incomes, and the growing awareness of health and fitness among the population of different countries.
[Q]: Who are the Key Players in the Swimwear Market?
[A]: Major players in the global swimwear market include American Eagle Outfitters, Inc., Arena Italia S.p.A., ASICS Corporation, Billabong International Limited, Columbia Sportswear Company, Decathlon S.A., Hanesbrands Inc., Nike, Inc., PVH Corporation, Quiksilver, Inc., and Speedo International Ltd.
[Q]: Which Region Offers the Largest Opportunity for Sales of Swimwear?
[A]: North America is expected to dominate the global swimwear market over the forecast period. The demand for swimwear in the region is due to the increasing number of beach lovers and the rising popularity of beach vacations in the region.
[Q]: What are the factors driving the swimwear market?
[A]: Factors such as increasing disposable incomes, the rising popularity of beach vacations, and the growing awareness of health and fitness are expected to drive the growth of the global swimwear market. Additionally, the increasing preference for trendy and comfortable swimwear designs is also driving the swimwear market.
Research Methodology
Impact Analytix employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives. Critical elements of the methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For a comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia, and trade journals. Technical data is also gathered from an intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, and pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression, and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of the technology landscape, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
Market drivers and restraints, along with their current and expected impact
Raw material scenario and supply v/s price trends
Regulatory scenario and expected developments
Current capacity and expected capacity additions up to 2030
We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.
Primary validation
This is the final step in estimating and forecasting our reports. Exhaustive primary interviews are conducted, face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts, and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation but also provide critical insights into the market, current business scenario, and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:
Market-leading companies
Raw material suppliers
Product distributors
Buyers
The key objectives of primary research are as follows:
To validate our data in terms of accuracy and acceptability
To gain an insight into the current market and future expectations
To request a free sample copy of this report, please complete the form below.
We value your investment and offer free customization with every report to fulfil your exact research needs.
