Swimwear Market Insight. The global swimwear market is expected to register a CAGR of 6. 6% during the forecast period, 2018 to 2023. Rising tourism and growing popularity of the seasonality of swim are likely to drive the swimwear market growth across the globe.
New York, Jan. 21, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Swimwear Market - Segmented by Fabric Type, End User, Distribution Channel, and Geography - Growth, Trends and Forecasts (2019 - 2024)" - https://www.reportlinker.com/p05778162/?utm_source=GNW
Increasing product innovation, for example, incorporation of fabrics such as neoprene, which inhibits properties such as high thermal insulation, enhanced flexibility, adequate surface friction, and lightweight are changing the market dynamics from last few years. Consumers are attracting towards multifunctional cover-up swimwear and beachwear which is likely to support the swimwear market growth. Increasing influence of social media platform such as Facebook and Instagram is likely to create huge impact on sales of swimwear products. For instance, for small market players digital sales have become one of the fastest-growing segments in retail, and the photo-sharing platform such as Instagram provides users with a casual forum to display their swimwear products.
Growing Demand for luxury Swimwear to Drive the Swimwear Market Growth
Swimwear made from Nylon offer greater resistance to the impact of sand, chlorine, salt, and other minerals in the water which is driving the demand for swimwear made from nylon. Rising consumer preference for swimming and growth in number of family vacations along beach side is expected to boosts the demand for swimwear, thus boosting the growth of the swimwear market. Moreover, growing demand for luxury swimwear by women, increase number of in private and public swimming pools & clubs is influencing the market growth from last few years. However, cost incurred by key players in procuring raw materials and designing the swimwear retraining the growth of the market to some extent.
Online Retail Stores to Drive the market Growth during the Forecast Period
The swimwear market is likely to witness significant market growth due to increasing process innovations and development in technologies in recent time period. For instance, incorporation of neoprene fiber to develop fabrics that improve elasticity and efficacy of swimwear is gaining popularity among the consumer. Marketing and promotional strategies by manufacturers of luxury swimwear is expected to boost the market revenue in upcoming years. Luxury swimwear brands focus more on offering value-added features such as convenient cuts and trendy prints that provide a slimming effect. These factor is playing key role to boost the market growth in developed countries.
Asia-Pacific Region to Significant Demand for Women Swimwear
Growth in population, rise in health awareness, and product innovation are likely to propel the swimwear market growth in developed economies. Additionally, growth in participation rate of water sports and fitness among developing countries such as China and India at a domestic level is expected to influence the swimwear market in Asia-Pacific region. In Europe, western countries holds significant market share there is a relative growth in the acceptance of swimwear in western European countries in recent times. Increasing expenditure on lifestyle goods, coupled with an increasing preference for swimming as a leisure and recreational activity, are driving the growth of the swimwear market in South America region.
Key Developments in the Swimwear Market
- Jul 2017: Perry Ellis International, Inc., entered into Nike Swim distribution agreements in Latin America with R1 Sports Ltda in Brazil, Uldin SA in Argentina, Uruguay and Paraguay, Superdeporte Plus Peru S.A.C in Peru, Bolivia, and Ecuador.
- Mar 2017: PVH Corp entered into supply chain relationship agreement with Li & Fung Limited to strengthen the distribution network.
Swimwear Market Major Players
American Apparel, Inc.
Arena Italia S.p.A.
NoZONE Clothing Limited.
La Perla Group.
Perry Ellis International, Inc.
Jantzen Apparel LLC.
Reasons to Purchase Swimwear Market Report
- Analyzing outlook of the market with the recent trends and Porter’s five forces analysis
- Market dynamics, which essentially consider the factors, which are impelling the present market scenario, along with growth opportunities of the market in the years to come
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market
- Competitive landscape involving the market share of major players, along with the key strategies adopted for development in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
- 3-month analyst supports, along with the Market Estimates sheet in excel
Customization of Swimwear Market Report
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