LONDON--(BUSINESS WIRE)--According to Technavio’s latest report, the global swimwear market is expected to exceed USD 20 billion by 2019, growing at a CAGR of over 5% during the forecast period.
The global swimwear market has been growing at a moderate pace since 2010 and will continue to do so during the forecast period. More people have been showing interest in swimming and water sports in the last three years. Participation rates for water sports in the US went up from 12.5% in 2012 to 13.9% in 2014. Vendors of swimwear are investing heavily to develop comfortable and stylish products.
According to Brijesh Kumar Choubey, lead analyst for apparel and textile research at Technavio, “Swimwear is witnessing better acceptance among emerging countries, especially those in APAC. With vendors offering a range of products, including modest swimwear, this demand is likely to see significant increase in the next five years. More vendors are realizing the potential of plus-size apparel and swimwear and have been making successful in-roads into this segment in the last three years.”
In this report, Technavio covers the present scenario and growth prospects of the Global Swimwear Market 2015-2019. The report also presents the vendor landscape and a corresponding detailed analysis of the top five vendors operating in the market. The market is segmented into the following four regions:
- Americas
- Europe
- APAC
- MEA
Americas: largest market for swimwear
The swimwear market in the Americas is estimated to reach USD 10 billion by 2019, growing at a CAGR of over 6%.
The market will grow at a moderately positive rate during the forecast period. Despite the swimwear market in the US being highly advanced, it will continue to grow at steady pace due to the various design innovations taking place in the industry. The increasing availability of modest and plus-size swimwear will have a positive influence on the market in the next five years.
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Europe: new fashion trends to boost growth
The swimwear market in Europe is estimated to exceed USD 5 billion by 2019, growing at a CAGR of almost 3%.
This market will grow at a stable and constant rate during the forecast period. The European swimwear market has reached a mature and well-balanced phase, where the market is growing at a slow rate with only a small number of avenues left to explore.
However, new product styles and fashion trends in the swimwear market will find significant acceptance in this region and is one of the reasons for the prevalent growth rate in the market.
APAC: increasing popularity of swimming as a sport boosts growth of the market
The swimwear market in APAC is estimated to exceed USD 4 billion by 2019, growing at a CAGR of over 8%.
APAC will experience a higher growth rate than the other regions in the next five years. Fast developing economies like India and China show great potential in terms of demand for swimwear. An increasing number of people in the region are adopting swimming as a sport as well as a leisure activity, further ensuring that the region grows well during the forecast period.
In Australia, according to the National Sports Participation report, swimming was the most common outdoor activity in 2014. Nearly 50% of children aged 6-13 and 10% of individuals aged 14 and above participate regularly in swimming activities.
MEA: availability of modest swimwear to boost growth
The swimwear market in MEA is estimated to reach USD 0.56 billion by 2019, growing at a CAGR of over 4%.
The MEA is the smallest market in the global swimwear market, and will register moderate growth during the forecast period. “The region is likely to see increased demand, especially with the availability of modest swimwear,” says Brijesh.
Key Vendors:
- Arena Italia
- Rue Royale Diana (Diana Sport)
- La Perla
- Speedo
- Wacoal
The other prominent vendors mentioned in the report are: Acacia, B.Swim, Billabong, Body Glove, Equatorsun, L Space, Nozone Clothing, O'Neill, Parah, Perry Ellis International, Quicksilver, Seafolly, Seaspray, Swimwear Anywhere, The Wet Seal, TYR Sport, VF Corporation, and Volcom.
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- Global Sports Equipment Market 2016-2020
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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