Kenneth Research, in its repository of market research reports, have recently added a report on Swim Wear Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2022-2031.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Swim Wear Market products.
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By the end of 2050, the world’s population aged 60 years and above is anticipated to reach 2 billion, states the World Health Organization (WHO), in one of its statistics. Additionally, several manufacturers are increasingly showing interest for manufacturing healthy beverages, which is also anticipated to drive the growth of the market in the coming years.
Global Swim Wear Market was valued at USD 18.45% Billion in the year 2017. Global Swim Wear Market is further estimated to grow at a CAGR of 6.5% from 2019 to reach USD 27.4 Billion by the year 2025. The North America region holds the highest Market share in 2017 and the Asia Pacific is considered as the fastest growing Market in the forecasted period. Brazil and U.S are expected to grow rapidly in the coming years due to high rate of population and inclination of the people towards a healthy lifestyle.
Major market players in Swim Wear Market are Gildan Activewear SRL, Arena Italia S.p.A, Diana Sport, Eveden Group, Jantzen, La Parela, Nozone Clothing, O’Neill, Parah SpA, Pentlands Brands Ltd., and 10 more companie,s brief information is provided in the report. Rising research and development expenses cater to changing demand of end users. Similarly, growth strategies such as acquisition, merger and expansion of the distribution network were few techniques adopted by most of Tier 1 and Tier 2 manufacturers in recent years.
SWOT Analysis of Swim Wear Market:
Strength:
Increasing number of public swimming enrolments
Inclination towards healthy lifestyle
Weakness:
Expensive and not so cost friendly
Volatility in raw material prices
Opportunities:
Growing demand for eco-friendly swimwear
Demand for fashionable poolside apparel
Threats:
Intense competition among the producers
Active wear being used as substitutes for swimwear
The Product segment, is divided into four segments – One piece swimsuits, tank suits, sling bikini, pretzel suit and monokini. The End Use segment is divided as adult swim wear and children’s swim wear. Adult segment contributes to the highest Market share in the end user segment. The Distribution channel is divided into departmental stores, retail stores and e-commerce.
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The Distribution Channel segment is divided as departmental stores, retail stores and e-commerce in which departmental stores segment have the highest share in the Market as a result of growing inclination towards healthy and active lifestyle.
Swim Wear Market Segmentation:
By End User
*Adult swim wear (men and women)
*Children’s swim wear
By Product
*One-piece swimsuits
*Tank Suits
*Sling Bikini
*Pretzel Suit
*Monokini
By Distribution Channel
*Departmental stores
*Retail stores
*E-commerce
By Region
North America
*USA
*Canada
Europe
*Germany
*U.K.
*France
*Italy
*Rest of Europe
APAC
*China
*India
*Japan
*Rest of Asia-Pacific
RoW
*Latin America
*Middle East & Africa
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