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.

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.