Womens Swimwear Market is Estimated to Witness High Growth Owing to Rise in Popularity of Trendy Swimwear Styles
Womens swimwear refers to the various products worn by women for swimming, bathing or relaxation at beaches. This includes one-piece swimsuits, bikinis, swim shorts and monokinis among others. Swimwear is made using materials like nylon, polyester and spandex, owing to their stretchable and quick drying properties. With increasing popularity of beach vacations and water sports, the demand for stylish and trendy swimwear has been on the rise. Designer brands are launching new collections with flattering cuts, unique prints and functional features to attract more customers.
The global women's swimwear market size was valued at US$ 8806.9 million in 2022 and is anticipated to witness a compound annual growth rate (CAGR) of 2.86% from 2023 to 2030.
Key Takeaways
Key players operating in the women's swimwear market are LVMH Moët Hennessy Louis Vuitton, Marysia LLC, Chanel Group, Missoni SpA, Swimwear Anywhere Inc., La Jolla Group, LA Perla, TJ Swim, Pentland Group PLC, Adidas AG, Wacoal Holdings Corporation, and Puma Inc.
The Women’s Swimwear Market Demand is set to see significant growth driven by rising demand from emerging economies like China and India, along with a growing middle-class population and higher disposable incomes in these countries.
The women’s swimwear market report highlights how technological advancements, such as the introduction of water-resistant fabrics, UV protection materials, and quick-drying textiles, are enabling manufacturers to launch innovative swimwear products and gain a competitive edge in the market.
Market Drivers
Increasing participation in water sports: Growing popularity of water sports like swimming, surfing, scuba diving and water aerobics among women has boosted the sales of stylish swimwear. Women are investing more in sporty and functional swimsuits suitable for various water activities.
Rise of fashionable swimwear: Designer brands are experimenting with unique prints, vibrant hues and flattering cuts to make swimwear a style statement rather than just functional clothing. This has encouraged more women to purchase swimwear as beachwear and leisurewear rather than just for swimming.
Challenges in the Womens Swimwear Market
The womens swimwear market currently faces many challenges due to changing customer preferences and increasing competition. Customers today demand more sophisticated designs with better fits and functionalities. They are also more eco-conscious and prefer brands focussed on ethical and sustainable practices. Meeting these evolving needs through continuous innovation is a big challenge for existing players.
SWOT Analysis
Strength: Designers have expertise in developing innovative fabric technologies like quick dry and wrinkle free fabrics. This allows creating better fitting swimsuits.
Weakness: Most brands focus on limited size ranges and ignore inclusiveness. This restricts their potential customer base.
Opportunity: Rising health awareness is boosting participation in water sports. This increases demand for performance swimsuits.
Threats: New direct-to-consumer brands easily replicate designs at lower costs putting pressure on margins of established players.
The United States currently accounts for the largest share in the global womens swimwear market, both in terms of value and volume. This is attributed to strong participation of women in water sports and beach activities. The market in United States is projected to experience steady growth during the forecast period supported by product innovation.
The Asia Pacific region is expected to be the fastest growing market for womens swimwear during the forecast period. Countries like China, Japan and Australia are witnessing rising popularity of water sports. Increasing disposable incomes are also allowing more women in the region to purchase designer swimsuits for casual and sports use. Developing markets offer enormous untapped growth potential making Asia Pacific an important focus for players.
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About Author:
Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights.
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