DUBLIN–(BUSINESS WIRE)–The “Swimwear Market – Growth, Trends, Impact of COVID-19, and Forecast (2021-2026)” report has been added to from ResearchAndMarkets.com offer.
The global swimwear market is expected to register a CAGR of 6.3% during the forecast period (2021-2026).
After the advent of COVID-19, many swimming pools were forced to close to minimize the spread of the virus. Additionally, the closure of schools and universities across the globe in 2020 has negatively impacted the sales in the global swimwear market.
Swimwear manufacturers and designers focus on the comfort level of swimwear because it has a big impact on the consumer’s purchasing decision. The popularity of value-added features, such as fashionable prints and convenient cuts, is driving the growth of the market.
Due to the increase in product innovations and advanced technologies, such as the incorporation of neoprene fibers to develop fabrics that improve their elasticity and efficiency, the swimwear market is expected to experience high sales in the years future.
With changing fashion trends, key factors, such as fabric design, trend and comfort, play a major role in driving the market. Therefore, there is an increasing demand for branded swimwear, which offers high quality and greater resistance to the chlorine content of water.
Main market trends
Growing demand for swimming as a sport
Since 2004, swimming in the United States has seen a notable increase in participation each year, following the Summer Olympics. Attendance at high schools and clubs has grown steadily over time, but perhaps more importantly, the ability to swim has increased. In 2017, the USA Swimming Foundation announced a 5-10% increase in swimming ability among children in the United States.
The Asia-Pacific region is also expected to experience a higher growth rate than other regions over the next five years. Rapidly developing economies like India and China have great potential in terms of swimwear demand. Furthermore, government initiatives and moments like Indian government’s “Khelo India” are also expected to further increase the market potential during the forecast period.
Asia-Pacific will experience significant growth
The Asia-Pacific region is expected to experience a higher growth rate than other regions over the next five years. Rapidly developing economies like India and China have great potential in terms of swimwear demand. For example, the Chinese swimwear market is driven by the country’s huge population who are passionate about water sports, as they consider swimming to be the best form of physical exercise in China, which would help drive a demand healthy swimwear products in China. Therefore, most local and foreign manufacturers focus on practical designs for indoor swimming and at the same time pay more attention to features such as performance, comfort, design and style.
In Australia, according to the National Sports Participation report, swimming was the most common outdoor activity in 2014. Nearly 50% of children aged 6 to 13 and 10% of individuals aged 14 and over participate regularly to swimming activities. Additionally, increasing spending on lifestyle products coupled with growing preference for swimming as a leisure and recreational activity is driving the growth of the swimwear market in the Asia-Pacific region.
The leading companies operating in the swimwear market differentiate themselves in the market through their product launches in terms of material used, price, range and size in order to gain a competitive edge. Pentland Group PLC (Speedo International Limited) is one of the most active companies in the market, with numerous partnerships, product innovations and expansions. The company has invested heavily in Speedo International by continually rejuvenating its products.
Some of the other major companies in the global swimwear market included Arena Italia SpA, Perry Ellis International Inc. and La Perla Group.
Main topics covered
1.1 Study assumptions and market definition
1.2 Scope of the study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Constraints
4.3 Porter’s Five Forces Analysis
5 MARKET SEGMENTATION
5.1 By type
5.1.1 Women’s swimwear
5.1.2 Men’s swimwear
5.1.3 Swimming goggles and caps
5.2 By distribution channel
5.2.1 Online stores
5.2.2 Offline Stores
5.3 By geography
5.3.1 North America
5.3.4 South America
5.3.5 Middle East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Most active companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 Pentland Group PLC
6.4.2 Jockey International Inc.
6.4.3 Under Armor Inc.
6.4.4 Nike Inc.
6.4.5 Perry Ellis International Inc.
6.4.6 Swimwear Anywhere Inc.
6.4.7 Arena SpA
6.4.8 Puma SE
6.4.9 LA Perla Group
6.4.10 Adidas SA
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
8 IMPACT OF COVID-19 ON THE MARKET
For more information on this report, visit https://www.researchandmarkets.com/r/yco5jb