Market Challenges And Opportunities

Global Women’s Swimwear Market Drivers:

Shifting consumer inclination towards fitness and water activities to foster market growth

The women’s swimwear market is witnessing strong growth on the account of growing awareness regarding health benefits of swimming and also growing adoption of active lifestyle. According to the Wisconsin Department of Health, freestyle swimming at a light to moderate pace can burn 472 calories hourly for a 130-pound woman and 563 calories for a 155-pound woman. More advanced swimmers exercising at a vigorous pace can burn 590 calories hourly for a 130- pound woman and 704 calories for a 155-pound woman.

Influence of social media playing significant role in overall development of women’s swimwear market

According to a survey from CreditCards.com, in August 2021, 72% of millennials said social media impacts their buying decisions. This is the most likely age group to be influenced by social media in their spending, followed by 66% of Gen-Z, 49% of Gen X, and 45% of baby boomers. 38% of millennials tend to trust posts from the influencers they follow when it comes to shopping and 20% of millennials report, making purchases inspired by posts from celebrities or influencers. Also, swimwear brands, such as Summersalt, Cuup, Youswim, Zaful, Lively, and Girlfriend collective are expanding their presence in the market via their social media customer engagement.

Global Women’s Swimwear Market Opportunities:

Growing focus on raising awareness regarding the health benefits of swimming among consumer is expected to present significant growth opportunities. For instance, in May 2019, in the United Kingdom #LoveSwimming campaign focused on escaping the stresses of busy life, particularly for women, and ‘prescribing’ swimming to aid a range of medical conditions, such as Type 2 diabetes, arthritis, and chronic pain. The campaign played a key role in encouraging people to enjoy the benefits of swimming.

Increasing demand for slimming swimsuits is projected to offer profitable market opportunities. Slimming swimsuits are built-in shapewear that provide more compressive to physically smooth bulges. Hence, there is a growing demand for slimming swimsuits because women are more conscious about how they carry themselves in swimsuits. For instance, brands like Miracle cut offers a wide range of slimming swimsuits in various colors and designs with several prints. The company offers slimming swimsuits in several sizes.

Global Women’s Swimwear Market Restraints:

Strict government regulations and high labor cost

The government has made regulations on the manufacturing of swimwear on a national level. Hence, these regulations are a barrier to entry for new players. Moreover, the textile industry have struggled to complete with international key players due to high labor costs. These factors are hindering market growth to some extent.

Presence of counterfeit products

The strong presence of counterfeit goods in the marketplace has become a threat to the economy and brand manufacturers. This is expected to hinder the market growth. For instance, in 2018, Kaohs announced that it is filing a cease-and-desist order against the Australia- based Zahara after Zahara copied their yellow rose bud bikini and is selling it for half the price. Nevertheless, key manufacturers are adopting strategies such as releasing only small capsule collections throughout the year to ensure the product is unique and are only available on their websites.