Sports Outlets to Account for Over 40% Sales of Women’s Swimwear through 2031: Fact.MR
Published : 15 Jun 2021 Industry: Sports
With rise in swimming activities across the world, demand for women’s swimwear has seen steady increase over the past decade. High demand for polyester and nylon swimsuits, especially tank suits, is aiding market growth. As per Fact.MR analysis, the global women’s swimwear market is forecast to expand at over 3% CAGR through 2031.
According to a report published by the World Health Organization in February 2020, an estimated 320,000 people died from drowning in 2016, making drowning a major public health problem, worldwide, while in 2015, injuries accounted for over 9% of total global morbidity. As more people are becoming aware of such risks of not knowing swimming, they are getting inclined to adopt it as a basic life-saving skill. Also, various campaigns and initiatives for spreading awareness regarding the benefits of swimming are working in favor of manufacturers. For instance, in America, a new 'Red Cross Campaign' was launched by America Red Cross in 2020 in order to reduce drowning rates by 50% in 50 cities over the next 3 to 5 years.
Key Takeaways from Women’s Swimwear Market Study
- Tank suits to remain the most sought-after type over the forecast period, with nearly one-fourth market share.
- Polyester, followed by nylon, are the most widely-used fabric types, for manufacturing swimwear, accounting for two-third total production.
- Mid-price women’s swimwear to exhibit hegemony throughout the forecast period, commanding nearly half of overall demand.
- Sport outlets will maintain the lead among the distribution channels, at over 40% market share.
- The United States holds nearly 90% of the market share of the world’s second-largest market - North America.
- Germany remains the epicentre of the world’s largest market for women’s swimwear – Europe, with a market share of more than 32%.
- Japan and South Korea remains lucrative for manufacturers.
- Some of the other countries performing well in the global women’s swimwear market are Canada, the United Kingdom, France, Italy, and China.
“As swimming activities are gaining traction, demand for women’s swimwear is seeing an upward trend. A report published by the National Library of Medicine indicates almost equal participation of men and women in national and international swimming competition. While this signifies growing number of women swimmers, manufacturers are developing a wide range of women’s swimwear in order to capitalize on the growing opportunities in this space,” says a Fact.MR analyst.
Rise in Swimming Activities Boosting Growth
Rise participation of women in swimming is substantially bolstering the growth of the women’s swimwear market. According to the Centers for Disease Control and Prevention (CDC), drowning ranks fifth among the leading causes of unintentional death in the United States. In order to spread awareness regarding this and prevent such incidents, CDC has taken up various initiatives. As per its research, younger adults reported greater swimming ability than older adults, while self-reported ability increased with level of education. CDC has also published multiple reports to discuss risk factors of not knowing swimming and prevention of unintentional drowning. Such activities are leading to increased demand for women’s swimwear.
Who is Winning in this Space?
The global women’s swimwear market is fragmented in nature, and thriving on key players. As competition is getting stronger with a surge in demand, key players are diversifying their products with emphasis on the quality of their products.
- American Apparel, Inc. launched its new extensive range of women’s swimwear - One Piece Sweat Proof Swimwear, Bikinis, and others, in 2020.
- Diana Sport launched its new range of women’s swimwear - Diana Wenda Swim Suit, Diana Women’s French Costume, Diana Trixia Swim-Suit, and others, in 2020.
More Valuable Insights on Women’s Swimwear Market
In its latest report, Fact.MR offers unbiased analysis of the global women’s swimwear market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of product (one-piece swimsuits, tank suits, sling bikinis, pretzel suits, monokinis, maillots, two-piece swimsuits, knee skin, body skin, and racerback), fabric (nylon, polyester, cotton, spandex, and PBT), pricing (low-price swimwear, mid-price swimwear, and premium-price swimwear), and distribution channel (online stores, departmental stores, specialty retail stores, monobrand stores, and sports outlets), across seven major regions of the world (North America, Latin America, Europe, East Asia, South Asia, Oceania, and MEA.
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