Transparency Market Research

Increasing Trend of Swimwear Market in 2019 Drives Demands Analysis by TMR

Swimwear Market - Size, Share, Growth, Trends, and Forecast 2018 - 2026

 

Albany, NY -- (SBWIRE) -- 05/30/2019 -- According to a new market report published by Transparency Market Research titled "Swimwear Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018 – 2026" the global swimwear market is expected to reach a value of US$ 33,075.3 Mn by 2026. The market is estimated to expand at a CAGR of 6.2% during the forecast period from 2018 to 2026. In terms of volume, the market stood at around 731.3 Million Units in 2017. Europe dominated the swimwear market in terms of value in 2017, acquiring approximately 31% of market share.

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The swimwear market is influenced by market dynamics with the prime driving factor being increasing health awareness. Swimming is considered healthy and a low-impact sports activity, which offers various physical and mental benefits. It provides a full body workout, as it uses all muscles of the body. Thus, increase in health awareness globally through swimming is boosting the swimwear market.

Increasing trend of family vacations besides beaches, resorts, and theme parks etc. is anticipated to drive the swimwear market. Furthermore, penetration of e-commerce sites globally is adding to the growth of the swimwear market. Wide product availability coupled with affordable prices through e-commerce sites compared to the offline mode is also helping to proliferate the swimwear market.

Volatility of raw material prices is a major challenge impacting the growth of the global swimwear market. Prices of raw materials of swimwear such as nylon, polyester, spandex, polypropylene etc. keep on changing, based on various external factors such as change in oil prices, economic instability of a country, trade wars etc. Such fluctuation in raw material prices ultimately impacts the price of the final product.

Additionally, significant research and development has to be done by manufacturers to meet the seasonal demand. Investment in machineries becomes important to manufacture swimwear during peak seasons to meet the seasonal demand. This becomes difficult for many manufacturers due to lack of suitable finance options for investment in machineries and ultimately impacts the demand and supply of swimwear apparel and eventually the swimwear industry.

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Some of the key players in the swimwear market include LVMH Moët Hennessy Louis Vuitton SE, Phillips-Van Heusen Corporation, L Brands, Inc., Perry Ellis International. Inc., Pentland Group plc., Arena Italia S.p.A., ASICS America Corporation, Swimwear Anywhere Inc., Wacoal Holdings Corporation, and Hosa International Limited. Key players operating in the swimwear market adopt numerous strategies to sustain in the market. Product development and acquisition and partnership are some of the main strategies adopted by key players to gain a competitive edge.