SWIMWEAR MARKET ANALYSIS

Swimwear Market Size and Trends

The swimwear market is estimated to be valued at USD 21.10 Bn in 2024 and is expected to reach USD 26.13 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 3.1% from 2024 to 2031.

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The global swimwear market has been witnessing positive trends over the past few years. There has been a rising preference for fashionable and trendy swimwear among consumers across the globe. Manufacturers are coming up with innovative designs, stylish fits, and fabrics to cater to the dynamic fashion tastes of different demographics. Furthermore, the growing participation in water sports and other beach activities has been boosting the sales of attractive swimsuits. Rapid urbanization, rising living standards, and increasing spending on leisure and recreational water sports are some of the key factors estimated to drive the demand for swimwear globally in the forthcoming years. However, high production costs associated with swimwear products may negatively impact market growth.

Advances in fabric technology

With rising temperatures globally due to climate change, the swimwear market has seen increased demand. Consumers are looking for swimwear that allows maximum ventilation, dries quickly, and protects them from the sun. Fabric manufacturers have risen to this challenge by developing new materials that are lightweight, breathable, and quick drying.  A significant development has been the rise of performance swim fabrics that wick moisture away from the skin and allow heat and sweat to evaporate faster. These high-performance textiles are designed to move water away from the skin to the fabric surface where it evaporates. This keeps swimmers cooler and more comfortable. Some new swimwear fabrics even come infused with moisture-wicking minerals that continue working their evaporative magic long after the swim is over, keeping swimmers feeling fresh.

In addition to moisture-wicking properties, new swim fabrics also offer UV protection from the sun's harmful rays. Many now come with SPF factored in and UPF ratings of 30 or higher. This provides swimmers with sun-safe coverage and prevents sunburn even after lengthy time in the water. Some fabrics have gone a step further with built-in sun-protecting ingredients like zinc oxide for natural broad-spectrum protection.  Advancements are also being made in quick-drying textiles. Newly developed fabrics are designed to dry in half the time of regular swimwear fabrics. They absorb minimal water and retain their shape better post swimming. This makes them convenient for repeated dips in the pool or beach trips where changing often is preferable to staying in damp clothing. Quick-drying swimwear is especially popular for family beach vacations and kids' swim lessons where getting in and out of swimsuits frequently is the norm.

Market Concentration and Competitive Landscape

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Focus on swimwear fashion

While performance and practical considerations remain important factors, consumers also want their swimwear to look stylish. The swimwear industry has recognized this increasing focus on aesthetics and fashion-led choices.

Key Takeaways from Analyst:

Key drivers for the market include rising disposable incomes, increasing popularity of water sports and beach vacations, and expanding e-commerce platforms. However, seasonality remains a restraint as swimwear sales are heavily dependent on summer months in major regions.

North America currently dominates the swimwear market owing to widespread interest in swimming and water activities. The U.S. accounts for the largest share. However, the Asia Pacific region is expected to see the fastest growth over the next five years. Rapid urbanization, economic development, and rising living standards in countries like China, India, and Indonesia will boost swimwear penetration.

On the technology front, manufacturers are focusing on advanced fabric innovations to provide greater stretch, breathability, and UV protection. Growing demand for swimsuits made from eco-friendly or recycled materials also presents an opportunity for brands positioning themselves as sustainable.

Market Challenges: Seasonal nature of demand

The seasonal nature of demand is one of the key factors restraining the growth of the global swimwear market. Swimwear has strict seasonality associated with it as customers primarily look for these products during summer seasons when they go for beach vacations, pool parties or water-based recreational activities. However, summer is limited to only few months in a year across various parts of the world. This translates to a very limited selling window for swimwear brands and retailers. Having inventory for most part of the year doesn't generate any revenue for them, which adversely impacts their cash flows and profitability.

Market Opportunities: Emerging markets in Asia Pacific and Middle East and Africa

The swimwear market in emerging economies across Asia Pacific, Middle East and Africa holds significant potential for growth in the coming years. These regions are experiencing rapid economic development and rising disposable incomes. With improving living standards and exposure to global trends, consumers in these markets are increasingly embracing active lifestyles and water-based recreational activities. This presents a major opportunity to introduce innovative swimwear designs and styles that appeal to local sensibilities as well as global tastes. 

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Insights by Material: Durability and Comfort Drive Nylon/Polyester Dominance

In terms of material, nylon/polyester is expected to contribute 54.3% share of the market in 2024, owing to its durable and comfortable nature. Nylon and polyester blend fabrics are highly durable for swimwear applications, retaining their shape, color, and stretch through numerous swims and washes. Their synthetic construction means they retain warmth when wet, keeping swimmers comfortable in colder water temperatures compared to natural fabrics like cotton which leach body heat when immersed. The stretch characteristics of nylon/polyester also provide an excellent range of motion for swimmers, avoiding restrictive materials. Their quick dry properties further appeal as swimwear can be worn and worn again without remaining soggy or causing discomfort. With advanced textile processing, nylon/polyester swim fabrics now even mimic the soft handfeel of more expensive materials like spandex. This has boosted their popularity as a price competitive option without compromising function or aesthetics. As swimsuits see regular rigorous use, the longevity and reliability of nylon/polyester ensures it remains the top material choice.

Insights by Product: Swimsuits Dominate on Fashion and Functionality

In terms of product, swimsuits is expected to contribute 31.2% share of the market in 2024, owing to a balance of fashionable styling with functional design. Unlike swim trunks or shorts which are suitable only for swimming laps or recreationally, swimsuits offer versatile styling from one piece to bikinis suitable for sport, poolside lounging, or day at the beach. Their form-fitting cut maintains coverage while allowing freedom of movement in the water. Details like ruffles, cut-outs and color blocking have boosted swimsuits into mainstream sportswear fashion statements. One piece suits in particular have regained popularity among women seeking support and sun protection. Adjustable features like tie sides or removable parts add sizing options and versatility. Though swim trunks and shorts may suit some functionality needs and male preferences, swimsuits have broadly outpaced other products through styling that has shifted them into daily casual wear, driving greater demand and market relevance.

Insights by End-user: Women Dominate on Fit, Fashion and Function Needs

In terms of end-user, women is expected to contribute 45.5% share of the market in 2024, driven by dedicated fit, fashion, and functional needs. Women's swimsuits are carefully crafted for bust, hip and belly support during water activities through structured fabric construction, padding or bonded seams. With options like one pieces, tankinis or bikinis, suits match individual shape requirements and provide full or partial coverage. Long accepted as merely functional items, swimsuits today make bold style statements through color blocking, ruffles and cut-outs emphasizing femininity. Popularity of swimwear as active and casual sportswear further stimulates fashion-forward designs. Additional features like UPF protection and swimsuit skirts add functionality against sun damage and moisture whilst poolside. Women also propel swimwear shopping through social media platforms and peer recommendations, more rapidly adopting new styles and silhouettes. With functions tailored for the feminine form and growing fashion consciousness at the swim category forefront, women dominate swimwear consumer behavior and trends.

Regional Insights

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North America has dominated the global swimwear market for many years. The region is expected to hold 34.4% of the market share in 2024. With the presence of major brands and retailers, the U.S. accounts for the largest market share in the region. Consumers in the U.S. and Canada have come to expect a wide variety of stylish and fashionable swimwear choices. Leading brands like Speedo, Nike and Abercrombie & Fitch invest heavily in product innovation and marketing to cater to the tastes of North American consumers. In addition, the warm climate and prevalence of beaches, swimming pools and water parks have firmly established swimming and related activities as popular pastimes. This active lifestyle continues to fuel the demand for high-quality and fashionable swimwear.

One region that has emerged as a fast growing market for swimwear is Asia Pacific. In particular, China and India are developing into sizable markets. Rapid economic growth has created a new middle class population with rising disposable incomes in these two countries. More consumers are able to afford premium international brands as well as domestic labels. They are also increasingly exposed to global swimwear trends through international travel and online exposure. At the same time, domestic swimwear companies have strengthened their design, sourcing and distribution capabilities to better serve customers within Asia Pacific.

Market Report Scope

Swimwear Industry News

• In April 2024, Paige launched its first swimwear collection
• In April 2024, David Koma launched a new swimwear brand
• In May 2024, Sports Illustrated launched a new women’s swimwear line following the release of the 60th anniversary edition of its iconic swimsuit issue
• In May 2024, Mrs. Manushi Chhillar dived into the fashion sphere with the launch of her swimwear brand, Dweep

*Definition: The swimwear market involves the design, production, and sale of swimsuits and other clothing worn for swimming. It caters to both recreational and competitive swimmers of all ages and genders. Products in this market include one-piece swimsuits, bikinis, swim trunks, rash guards, swim caps, goggles, and accessories like towels and bags. Brands in the swimwear market strive to produce durable, quick-drying fabrics that provide protection from chlorine and sun exposure while allowing freedom of movement in the water.

Market Segmentation

• Material Insights (Revenue, USD Bn, 2019 - 2031)
  • Nylon/Polyester
  • Spandex
  • Cotton
  • Others
•  Product Insights (Revenue, USD Bn, 2019 - 2031)
  • Swimsuits
  • Swim Trunks
  • Swim Shorts
  • Swim Cover-ups
•  End-user Insights (Revenue, USD Bn, 2019 - 2031)
  • Women
  • Men
  • Children
•  Distribution Channel Insights (Revenue, USD Bn, 2019 - 2031)
  • Specialty Stores
  • Departmental Stores
  • Online Stores
  • Others
• Regional Insights (Revenue, USD Bn, 2019 - 2031)
  • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Rest of Latin America
  • Europe
    • Germany
    • U.K.
    • Spain
    • France
    • Italy
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • ASEAN
    • Rest of Asia Pacific
  • Middle East & Africa
    • GCC Countries
    • Israel
    • Rest of Middle East & Africa
• Key Players Insights
  • SUMMERSALT
  • Hunza G
  • Seafolly
  • LVMH Moët Hennessy Louis Vuitton
  • MARYSIA
  • Adidas AG
  • Missoni
  • La Perla
  • Nike
  • Asics
  • LA PERLA
  • Solid & Striped
  • Jade Swim
  • Swimsuits for All
  • Swimwear Anywhere Inc
  • Aqua Bay Swim Co.
  • Iconic Apparel House
  • Boston Proper, LLC
  • K&B Sportswear
  • MYMARINI
  • Pin-Up Stars