Swimwear Market Expected to Reach $30.9 Billion by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Swimwear Market," The swimwear market size was valued at $19.8 billion in 2022, and is estimated to reach $30.9 billion by 2032, growing at a CAGR of 4.5% from 2023 to 2032.

Swimwear is a type of clothing or costume designed to be worn by people engaged in swimming, water sports, swimming, surfing, water skiing, or even sunbathing. Different styles of modern swimsuits are available. These vary according to body coverage and materials. Different fabrics used for making swimwear include polyester, nylon, spandex, and other blended fabrics, which gives it the required stretch and makes it capable of withstanding sun, chlorine, and salt water.

Swimwear today is not only a prerequisite to getting into a pool but is also becoming a fashion statement. It is not only used for competitive activities but also for regular surfing and aquatic fitness activities. Many women hang out in their swimwear by the poolside or the beach for long hours and hence it’s important that while the swimwear is functional, it’s also stylish and suits one’s personality. Swimwear for women is available in multiple bold colors, asymmetric designs, African and geometric prints, and classic yet modern silhouettes. Even though this luxury swimwear is expensive, women prefer these high-end brands as they focus more on offering value-added features such as trendy prints and convenient cuts that enhance the slimming effect. In addition, with the increase in accessibility to weekend getaways, beaches, and international travel, the acceptance of fashion beachwear has become an important part of the fashion industry. Fashion designers have always been experimenting with women fashion in terms of material, design, and pallet. These also include new types of fabrics and materials with a variety of styles and prints. Fine detailing, bold prints, pastels, and metallic colors are also in demand among consumers. Further, luxury swimwear offers greater resistance to the impact of sand, salt, chlorine, and other minerals in the water. These high sales from the luxury segment augment the swimwear market growth over the next few years.

Even though the women’s swimwear segment dominates the swimwear market, the changing trends in the men’s swimwear market have brought a new trend of swimwear, which are suitable as both swimwear, sportswear, and casual wear. This swimwear market trends has been successful in attracting new consumers. Vendors that specialize in men’s swimwear lines are expected to expand their productions during the forecast period with product line extensions and innovations to provide niche products. Some examples Nike Swim from Perry Ellis International has introduced new product line of men’s swimwear, which includes Nike Immiscible Brief, Nike Gemstone Brief, Nike Gemstone Jammer, and Nike Hazard 9″ E-Board. Expansion in product line & innovations in men’s swimwear is expected to play a fundamental role in the swimwear industry growth over the next few years.

According to the market analysis, the global swimwear market is segmented into fabric, end user, distribution channel, and region. On the basis of fabric, the market is divided into polyester, nylon, neoprene, spandex, and others. based on end user, the market is divided into women, men, and children. As per the distribution channel, the market is divided into online and offline. Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, Italy, Spain, UK, Russia, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, Thailand, Malaysia, Indonesia, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, UAE, and rest of LAMEA).

Based on fabric, the polyester segment held the major swimwear market share in 2022. Polyester is a major category of swimwear fabrics. Various types of swimwear are formulated using polyester to obtain stretching and shrinkage resistance. In addition, its quick drying and easily washable characteristics are major reasons for the use of this material in swimwear manufacturing. An increase in the adoption of polyester for swimwear is expected to propel the growth of the market.

Based on end user, the women segment led the market and accounted for more than 65% of the global swimwear market in 2022 and is expected to maintain its dominance during the forecast period. With the increasing demand for woman swimwear, manufacturers are investing in research and development to offer cost-effective and fashionable swimwear for women which is expected to propel swimwear market demand.

Based on distribution channel, the offline segment led the market and accounted for more than 85% of the global swimwear market in 2022 and is expected to maintain its dominance during the forecast period. Hypermarkets and supermarkets, specialty stores, convenience stores, and other small retail stores all fall within the offline section. Most localities have a few modest trade lines that house retail establishments, which are often tiny retailers.

Region-wise, North America held the major share of the market in 2022 and is expected to maintain its dominance during the forecast period. Companies operating in the Europe swimwear market are offering innovative products to sustain in the competitive market. They are launching new products to expand their business operations across different countries in this region and increase their customer base.

Some of the key players profiled in the swimwear market analysis include Haddow Group Plc, Nike Inc., Boardriders, Inc., Arena Italia S.p.A., Swimwear Anywhere, Inc., Adidas AG, Dick's Sporting Goods, Gap Inc., Phillips-Van Heusen Corporation (PVH Corp.), and Perry Ellis International Inc.

Key findings of the study

• Based on fabric, the neoprene segment is projected to witness the highest CAGR of 6.2%, in revenue terms, during the forecast period.
• Based on end user, women segment is projected to witness the highest CAGR of 4.3%, in revenue terms, during the forecast period.
• Based on distribution channel, the online segment is projected to witness the highest CAGR of 6.0%, in revenue terms, during the forecast period.
• Based on country, the U.S. was the largest country, in terms of revenue generation for the swimwear market in 2022.
• Based on region, Asia-Pacific is anticipated to witness the highest growth rate, registering a CAGR of 5.4% from 2023 to 2032.