The global Swimwear Market size is expected to reach USD 29.1 billion by 2025, expanding at a CAGR of 6.4%, according to a new report by Grand View Research, Inc. Growing population, rising awareness regarding health consciousness, rapid surge in poolside and beachside vacations, increasing water based activities, and rapid changes in fashion trends are the key factors responsible for industry growth.
Increasing
rate of population across the globe and product innovation to fulfill the need
of a special type of clothing for various water sports and poolside or beachside
vacations are driving the market. Growing fitness concerns among various age
groups are fueling the demand for swimming as a best physical exercise. This
is, in turn, paving a roadmap for the purchase of swimwear products in large
number. In some of the western countries, exposing their body is a common
phenomenon, which has effectively increased the sale of beachwear products in
the market.Growth of beauty and spa industries and increased demand for
specialty swimwear by women are also driving the swimwear and beachwear market
to some extent.
Asia
Pacific is anticipated to witness substantial growth owing to growing rate of
population, rising health awareness among people, and product innovation,
especially in developed economies. Additionally, growth in the participation
rate of water sports and fitness among developing countries such as China and
India at a domestic level is expected to positively influence the regional
market growth.
Western
countries hold a significant market share due to relative growth in the
acceptance of swimwear in western European countries in recent times.
Continuous increase in the expenditure on leisure goods, coupled with
increasing preference for swimming as a recreational activity, is driving the
market in North America. U.S dominated the market in terms of revenue in
2018, accounting for above 80% share in North America. It is estimated that on
an average, an American woman alone owns four swimsuits. Most of the designer
swimsuits are sold in North America due to their luxury beading, hardware
features, and comfort. These are the factors that are expected to spur the
market growth in the region.
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Further key
findings from the study suggest:
- In terms of revenue, the polyester
fabric type is projected to expand at a CAGR of 7.3% over the forecast
period
- The women end user segment dominated the
global market with an overall revenue share of 66.6% in 2018
- The Swimwear market in France, Italy,
Spain, Germany, and U.K. has also expanded to a great extent in the last
few years.
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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Grand View Research, Inc
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Email: sales@grandviewresearch.com
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