Rash guard Market Expected to Reach $12.7 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Rash guard Market," The rash guard market size was valued at $9.1 billion in 2021, and is estimated to reach $12.7 billion by 2031, growing at a CAGR of 3.4% from 2022 to 2031.

Activewear is a utility clothing, which boosts the physical performance and eases body movements, as it enhances comfort while engaging in fitness and sports activities. Rash guards are sometimes referred to as water shirts, swim shirts, surfing shirts, or sun shirts because these are a great way to protect from sunburn and can double as a coverup over swimsuit.

The extensive advantages offered by activewear, such as water resistance, bi-stretchable function, anti-bacterial fabric, wicking function, and others and surge in participation of consumers in physical and fitness activities act as key Rash Guard Market Trends. Moreover, female consumer base for activewear is increasing, owing to holistic approach of female customers towards sports and fitness. Likewise, increase in adoption of athleisure wear as work or street wear propels the growth of the overall market. Furthermore, rise in disposable income and increase in fitness concerns significantly contribute towards the growth of the Rash Guard Industry.

However, volatile cost of raw materials and inflated cost of designing lead to high cost of the final product. This hampers the sales of the product among price-sensitive customers, thereby restraining the market growth. Moreover, presence of counterfeit brands results in safety issues and inconvenience for consumers, which hamper the growth of the market. Conversely, increase in use of green textile and implementation of the sustainable production methods fuel the adoption of rash guard among green consumers.

Furthermore, rise in promotional activities, such physical activity campaigns, empowerment programs, and activewear promotion by sponsoring celebrities or athletes is expected to provide lucrative Rash Guard Market Opportunitiesfor the key players.Furthermore, number of brands offering different size clothing garments have increased, owing to which options for consumers has also increased. This has led to surge in consumer spending for activewear products, which drives the market growth.

According to the rash guard market analysis, the market is segmented on the basis of type, application, end user, price point, distribution channel, and region. By type, the market is classified into t-shirt, shirts, and shorts. On the basis of application, it is bifurcated into swimming, running, diving, and surfing. According to end user, it is segregated into men and women. By price point, the market is segmented into mass and premium. Online and offline channel are the distribution channel considered in the scope. Region-wise, the report is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

By type, the t-shirt segment held the major share in the market in 2021. Availability of different size of t-shirts for various age group of athletes is expected to augment the market growth. The shirt segment is estimated to reach $3,270.5 million by 2031, at a significant CAGR of 3.7% during the forecast period.

By end user, the swimming segment held the major share in the rash guard market in 2021. Swimwear is not only worn for swimming but is also used as semi-casual wear for pool parties and at outdoor venues, such as restaurants, resorts, and shopping centers. Swimming is considered as one of the most popular fitness and recreational activities. Increase in consumer interest in swimming and growth in number of family vacations at beaches boost the demand for swimwear, thus propelling the growth of the market.

Depending on end user, the men segment was dominant in 2021 owing to a proportionately large male obese population and high spending. Improvement in body positivity and confidence among female consumers is expected to propel the rash guard market growth during the forecast period.

By price point, the mass segment dominated the rash guard market share in 2021. Increase in consumption of mass pricing products by lower middle and upper middle class consumers significantly contributes toward the rash guard growth.

On the basis of distribution channel, the online segment is witness a major growth rate in the market during the Rash Guard Market Forecast period. This is highlighted by choices like discounts and free trials before purchases in addition to the advantage of receiving satisfaction right away. However, the online segment is anticipated to develop at the fastest rate due to increased internet usage and increased smartphone use for online shopping, which enables customers to compare products in real-time and make wise decisions.

Region-wise, North America was the prominent region in the rash guard market in 2021, owing the largest obese population and highest consumer spending on activewear products. However, Asia-Pacific is anticipated to grow at the highest CAGR, owing to increase in average caloric intake per individual among middle class and high-income households, which leads to higher obesity rates among individuals.

The key players profiled in this report include, TYR Sport Inc., O’ Neill, Roxy, Quicksilver, Sportstar Athletics, Gap Inc., Dick’s Sporting good Inc., Skechers U.S.A Inc., Cranbarry Inc., Adidas AG, Asos PLC, H&M, Nike Inc., Puma SE, Ralp Lauren Corporation, Under Armour Inc., Coloumbia Sportswear, and wildcraft.

Key findings of the study

• On the basis of type, the shirt segment is expected to be the fastest growing segment during the forecast period.
• On the basis of application, the swimming segment was the dominating segment in rash guard market in 2021.
• On the basis of end user, the women segment is expected to be the fastest growing segment during the forecast period.
• By price point, the mass segment held the major share in the rash guard marketin 2021.
• On the basis of distribution channel, the online segment is expected to be the fastest growing segment, with the CAGR of 3.9% during the forecast period.
• On the basis of region, LAMEA is expected to be the fastest growing segment with the CAGR of 3.7% during the forecast period.