Global Swimwear Market to Witness Growth Through 2020, Owing to Introduction of Innovative and Fashionable Designs, Says Technavio
LONDON–(BUSINESS WIRE)–$APP #OutdoorGear–According to the latest market study released by Technavio,
the global
swimwear market is expected to grow at a CAGR of almost 6%
during the forecast period.
This research report titled ‘Global
Swimwear Market 2016-2020’ provides an in-depth analysis of the
market in terms of revenue and emerging market trends. This market
research report also includes an up to date analysis and forecasts for
various market segments and all geographical regions.
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challenges, trends, and more.
The report categorizes the global swimwear market into three major
product segments. They are:
- Women’s swimwear
- Men’s swimwear
- Children’s swimwear
Global women’s swimwear market
The global women’s swimwear market grew by an AAGR of 6% during
2010-2015, primarily driven by the popularity of swimming. The high
demand for innovative swimwear such as thermal swimwear and swimsuits
that provide UV protection also had a positive impact on the growth of
the market. Swimwear that are targeted at the women consumer category
are updated more often, as swimsuits are perceived as a part of style
statement by many women consumers. Incorporation of the elements of
fashion into women’s swimwear attracts more women consumers, especially
the young crowd (20-34 years). Women’s swimwear fashion is led by bold
colors, asymmetric designs, African and geometric prints, and the
classic yet modern silhouettes.
“While store-based retailing has traditionally been strong for the
global swimwear market, the sales dynamics of the market are changing,
as vendors are increasingly adopting online platforms,” says Brijesh
Kumar Choubey, a lead analyst at Technavio for outdoor
gear. While the strategy of offering products online has helped
vendors increase their brand visibility and effectively engage with
consumers, it has presented the traditional store-based retailers with a
considerable challenge to the extent that many store-based retailers
like DICK’s Sporting Goods have now started selling their
products through online
portals.
For small-sized producers of swimwear, offering niche products is a key
growth factor. For instance, Germany’s lingerie and swimwear maker Anita,
which runs its US operations from Fort Lauderdale in Florida, has become
popular for its large-sized and maternity suits.
Global men’s swimwear market
The growth of the men’s swimwear market has paved the way for the
development of the new transitional shorts, which are suitable both as
swimwear and as casual wear. These shorts have been successful in
attracting new consumer demographics. During the period 2010-2015, the
men’s swimwear market grew by an AAGR of close to 7%.
During the forecast period, vendors that specialize in men’s swimwear
lines are expected to expand their businesses with product line
extensions and innovations. In 2015, after successfully launching the
label Frescobol and opening two stores in London, the manufacturer Frescobol
Carioca intended to expand the brand’s focus into a broader
lifestyle proposition. The company recently raised funding from
investors including fashion photographer Mario Testino. Some of its
newly launched lines of swimwear include Costes Tailored Swim Shorts,
Arpoador Sports Swim Shorts, Urca Sports Swim Shorts, and Copacabana
Tailored Swim Shorts.
“A new line of swimwear labels is following the wake of Orlebar Brown,
which is tapping the demographic of affluent professionals and hoping
that its beach and swim focused lines will act as foothold from which it
will be able to build broader lifestyle brands,” says Brijesh.
Global children’s swimwear market
Vendors operating in the global children’s swimwear market exhibit a
wide range of new swimwear lines in swim shows, as part of their
marketing strategy. For instance, during 20-23 July, 2013, within just
one year at the annual Swimwear Association of Florida’s SwimShow, the
children’s swimwear category reported close to a 24% sales growth
compared to 2012, and more swimwear lines for children were added for
this year’s show.
The US continues to be a key market for children’s swimwear. In the US,
the emphasis on fitness activities including swimming is evident, more
so considering the prevailing high rates of childhood obesity
in the country. To that end, swimming is considered as one the most
popular recreational activities by the majority of children in the 7 to
17-year age group. In order to allure more consumers, manufacturers of
children’s swimwear have started offering innovative designs and options
for children’s beachwear.
The top vendors highlighted by Technavio’s research analysts in this
report are:
- American Apparel
- Arena Italia
- Perry Ellis
- Speedo
- Wacoal
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