Dublin, Dec. 23, 2021 (GLOBE NEWSWIRE) -- The "Swimwear Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021-2026)" report has been added to ResearchAndMarkets.com's offering.
The global swimwear market is expected to register a CAGR of 6.3% during the forecast period (2021-2026).
After the advent of the COVID-19, many swimming pools were forced to close down to minimize the spread of the virus. Moreover, the closure of schools and universities across the world in 2020 had negatively affected the sales in the global swimwear market.
Swimwear manufacturers and designers focus on the comfort level of swimwear, as it has a high impact on the consumer's purchase decision. The popularity of value-added features, such as trendy prints and convenient cuts, is driving the market growth.
Due to the rise in product innovations and advancing technologies, such as the incorporation of neoprene fibre to develop fabrics that improve their elasticity and efficacy, the swimwear market is expected to witness high sales in the coming years.
With the changing fashion trends, key factors, such as design, trend, and comfort of the fabric, play a major role in driving the market. Hence, there is a growing demand for branded swimwear, which offers high quality and greater resistance to the chlorine content in water.
Key Market Trends
Growing Demand for Swimming as a Sport
Since 2004, swimming in the United States has experienced a notable bump in participation each year, following the Summer Olympics. High school and club participation have seen steady growth over time, but perhaps most importantly, the ability to swim has been increasing. 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 the other regions in the next five years. Fast-developing economies, like India and China, show great potential in terms of demand for swimwear. Also, the government initiatives and moments like "Khelo India" from the Government of India are also expected to increase the market potential of the market further during the forecast period.
Asia-Pacific to Witness Significant Growth
The Asia-Pacific region is expected to 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. For instance, the Chinese swimwear market is driven by the country's huge population that is finding a passion for water sports, as they consider swimming as the best form of physical exercise in China, which would help in driving healthy demand for swimwear products in China. Therefore, most local and foreign manufacturers are focusing on practical designs for indoor swimming and, at the same time, giving greater attention to traits like 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 6-13, and 10% of individuals aged 14 and above, regularly participate in swimming activities. Also, increasing expenditure on lifestyle goods, coupled with an increasing preference for swimming as a leisure and recreational activity, is driving the growth of the swimwear market in the Asia-Pacific region.
The key companies operating in the swimwear market are differentiating in the market by their product launches in terms of the material used, price, range, and size, in order to gain a competitive advantage. 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 continuously 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.
Key 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 Restraints
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 Goggles and Swim 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 Armour Inc.
6.4.4 Nike Inc.
6.4.5 Perry Ellis International Inc.
6.4.6 Swimwear Anywhere Inc.
6.4.7 Arena S.p.A.
6.4.8 Puma SE
6.4.9 LA Perla Group
6.4.10 Adidas AG
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
8 IMPACT OF COVID-19 ON THE MARKET
For more information about this report visit https://www.researchandmarkets.com/r/fgifz
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