Global Swimwear Market: Rising Consumer Interest in Water Activities

LONDON, GREATER LONDON, UK, November 3, 2023 /EINPresswire.com/ -- The global swimwear market, valued at $21.18 billion in 2022, is set to reach $22.6 billion in 2023, demonstrating a compound annual growth rate (CAGR) of 6.7%. Despite the challenges posed by the Russia-Ukraine war on global economic recovery from the COVID-19 pandemic, including economic sanctions, commodity price surges, and supply chain disruptions, the swimwear market is anticipated to witness sustained growth, with estimations reaching $28.84 billion by 2027, maintaining a CAGR of 6.3%.

Swimwear Market Segmentation and Key Players
• Types: Women's Swimwear, Men's Swimwear, Goggles, and Swim Caps
• Fabric Types: Nylon, Polyester, Spandex, Other Fabric Types
• End-Users: Men, Women, Kids
• Distribution Channels: Online Stores, Offline Stores

Key market players in the swimwear industry, such as Nike Inc., Adidas AG, and LVMH Moet Hennessy Louis Vuitton, are actively involved in developing innovative fabrics that enhance elasticity and overall efficacy, catering to the dynamic needs and preferences of consumers.

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Increasing Consumer Engagement in Water Activities Driving Market Growth
The swimwear market is expected to experience substantial growth due to the escalating consumer interest in water activities. The burgeoning popularity of water sports, driven by health and recreational motives, coupled with the rise in international water sporting events, is fueling consumer participation in water sports and recreational pursuits. Notably, the "Trends in Outdoor Swimming Report" indicates a significant surge in outdoor swimming participation across the UK, with an increase of 1.5 to 3 times between 2019 and 2020. The trend reflects a growing preference for outdoor swimming owing to its physical and recreational benefits, significantly contributing to the expansion of the swimwear market.

Innovative Fabric Development Shaping Market Dynamics
A key trend in the swimwear market is the development of fabrics that enhance elasticity and performance. Elasticity plays a crucial role in swimwear, ensuring a contoured fit and optimal adherence to the body, even when exposed to chlorinated water, saltwater, and sunlight. Industry players are actively focusing on introducing cutting-edge fabrics to meet the evolving demands of customers, thereby enhancing overall comfort.

Regional Analysis and Market Outlook
As of 2022, Asia-Pacific has emerged as the leading region in the swimwear market, with a strong trajectory for continued growth. The comprehensive market analysis encompasses a thorough evaluation of market dynamics across key regions, including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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Swimwear Global Market Report 2023 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.

The Swimwear Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on swimwear market size, swimwear market drivers and trends, swimwear market major players, competitors' revenues, market positioning, and swimwear market growth across geographies. The swimwear market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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