With the rise in swimming activities across the world, demand for women’s swimwear has seen a steady increase over the past decade. High demand for polyester and nylon swimsuits, especially tank suits, is aiding the market growth.
As per a recent market intelligence analysis by ESOMAR-certified market research and consulting firm, 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 American Red Cross in 2020 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 of total production.
- Mid-price women’s swimwear to exhibit hegemony throughout the forecast period, commanding nearly half of overall demand.
- Sports 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 epicenter of the world’s largest market for women’s swimwear – Europe, with a market share of more than 32%.
- Japan and South Korea remain 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 the national and international swimming competition. While this signifies a growing number of women swimmers, manufacturers are developing a wide range of women’s swimwear to capitalize on the growing opportunities in this space,” says an analyst.
Rise in Swimming Activities Boosting Growth
The 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.
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 the 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 an 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.
These insights are based on a report on Women’s Swimwear Market by Fact.MR.