Swimwear Market Size, Share & Trends Analysis Report By Fabric, By Distribution Channel, By End Use (Men, Women, Boys, Girls), By Product, By Region, And Segment Forecasts, 2024 - 2030

Report Overview

The global swimwear market size was valued at USD 23.1 million in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 6.8% from 2024 to 2030. Growing disposable income and higher purchasing power of individuals worldwide have resulted in higher spending on leisure and recreational activities, such as swimming and beach vacations. This has led to an increase in the demand for swimwear across different age groups and demographics. Furthermore, the increasing focus on wellbeing and the rise in popularity of water-based sports and fitness activities have led consumers to purchase functional and fashionable swimwear. The popularity of outdoor living, driven by the need for relaxation and rejuvenation, has also expanded the market.

The changing fashion trends significantly influence the swimwear market. Swimwear has transformed from functional wear to a fashion statement, with designers and brands introducing creative styles, patterns, and materials. Social media and celebrity endorsements have greatly influenced consumer choices, leading to the popularity of fashionable swimwear. Moreover, the growing emphasis on promoting body acceptance and diversity has led swimwear companies to provide a more extensive variety of sizes and designs to appeal to a wide range of body shapes, thus broadening market opportunities.

The market has been significantly influenced by technological advancements. The development of innovative fabrics with improved features such as fast drying, chlorine proofing, and UV protection has raised the effectiveness and coziness of swimwear. Furthermore, incorporating technology into swimwear, including wearable gadgets and innovative fabrics, has created new opportunities for distinguishing products and captivating consumers. The growth of e-commerce platforms has changed how consumers buy swimwear, offering a greater variety and ease of shopping.

Fabric Insights

The polyester segment dominated the market and accounted for a revenue share of 34.8% in 2023. Polyester is an excellent option for swimwear due to its inherent properties, durability, fast drying abilities, and resistance to chlorine and saltwater. Moreover, manufacturers have produced various fashionable and practical swimwear products due to the fabric's ability to offer a wide range of design and color choices. Moreover, the growing focus on performance-driven swimwear, especially in sports and fitness endeavors, has spurred a need for polyester-based clothing for its excellent moisture-wicking and breathability features. Additionally, the affordability of making polyester compared to other synthetic or natural fibers has led to its extensive use in the swimwear sector.

The nylon segment is expected to register a significant CAGR during the forecast period. Nylon's exceptional strength, durability, and elasticity make it an ideal material for various products. Furthermore, the growing need for lightweight and high-performance materials in swimwear is fueling the preference for nylon. Furthermore, continuous improvements in nylon manufacturing techniques have created altered nylon types with improved characteristics, broadening its range of use. Moreover, the increasing focus on sustainability and recyclability has established nylon as a feasible substitute for conventional materials, thus fueling its market expansion.

Distribution Channel Insights

Hypermarkets and supermarkets dominated the market in 2023. These retail giants leveraged their extensive store networks and established customer bases to offer a wide range of swimwear options, catering to different consumer preferences. Moreover, integrating swimwear into seasonal promotions and bundled offers has proven to be an effective strategy for driving sales. Additionally, the convenience factor associated with one-stop shopping for groceries and apparel has attracted a significant consumer base. Furthermore, the ability of these retail formats to offer competitive pricing and loyalty programs has contributed to their market dominance. The rise in impulse purchases within these stores and effective product placement strategies have further strengthened the market position.

The online segment is expected to register a significant CAGR during the forecast period. The growing adoption of e-commerce platforms, the increasing preference for convenient and contactless shopping experiences, the expanding reach of internet connectivity, and the increasing penetration of smartphones have enabled seamless online shopping for a wider audience. Furthermore, the availability of various products, competitive pricing, and personalized recommendations through online platforms have contributed to the segment growth. As consumer behavior continues to evolve, the online segment is poised to maintain its upward trajectory in the swimwear market.

End Use Insights

The women segment dominated the market in 2023. The focus on fitness and wellness culture has elevated swimwear from functional gear to fashion-forward attire, driving demand for stylish and innovative designs. Moreover, the increasing participation of women in water-based activities, such as swimming, surfing, and beach vacations, has expanded the consumer base. Additionally, the emphasis on body positivity and inclusivity has prompted swimwear brands to offer a broader range of sizes and styles, catering to diverse consumer preferences, further driving the women segment in the market.  

The men segment is expected to register a significant CAGR during the forecast period. The increasing emphasis on fitness and body image has increased demand for stylish and performance-oriented swimwear. Additionally, integrating innovative fabrics and technologies into men's swimwear has improved comfort, durability, and functionality, further increasing product appeal.  The expanding influence of fashion trends and celebrity endorsements has also contributed to the segment growth.

Product Insights

The racing suits segment dominated the market in 2023. The increasing popularity of competitive swimming, particularly at professional and amateur levels, has significantly increased the need for high-quality swimwear. Additionally, progress in fabric technology has created race suits with better hydrodynamic features, less resistance, and increased muscle compression, giving athletes a clear competitive advantage. Moreover, the growing number of individuals adopting fitness and health-oriented lifestyles has resulted in a demand for specialized swimwear for water exercises, expanding the market for racing suits beyond competitive swimming, driving the market.

The speedos segment is projected to witness the fastest CAGR over the forecast period. The demand is fueled by the rising trend of water activities and the growing focus on swimwear as a style statement. The desire for quality and fashionable products has made speedos a preferred choice among consumers. Furthermore, the growing product lineup appeals to different age groups, resulting in an expanded customer base for the segment. Integrating innovative fabric technologies into speedos products has boosted the segment's growth by providing improved comfort, durability, and chlorine resistance. Moreover, the company's focus on sustainability and eco-friendly initiatives appeals to environmentally aware customers, strengthening its position in the market.

Regional Insights

Asia Pacific swimwear market dominated the market with a revenue share of 36.1% in 2023. The increasing disposable income has fueled demand for leisure activities, including beach vacations and water sports. Moreover, unlike seasonal markets, the region's diverse cultures and climates create a year-round demand for swimwear. Rapid urbanization and a growing youth population, particularly in countries such as China and India, have led to a surge in fashion consciousness and body positivity, driving swimwear demand in the market. Furthermore, with its numerous beach destinations, the region's thriving tourism industry has increased swimwear sales for both domestic and international visitors.

India Swimwear Market Trends

The Indian swimwear market dominated the market in 2023. The country's tropical climate and growing coastal tourism have created a strong demand for swimwear throughout the year. Additionally, the increasing popularity of water-based sports and fitness activities has driven sales. Social media and fashion influencers have significantly influenced swimwear trends, inspiring consumers to adopt stylish and trendy swimwear. Moreover, the growing emphasis on body positivity and inclusivity has led to a broader range of swimwear options, catering to diverse body types and preferences, further propelling the market growth.

North America Swimwear Market Trends

North America swimwear market was identified as a lucrative region in 2023. A strong economy and a high interest in outdoor pursuits and recreational activities have greatly increased the need for swimwear. The region's extensive coastline, water bodies, swimming pools, and growing focus on health and well-being have created a favorable atmosphere for buying swimwear. Moreover, the rise of body positivity movements and a wide range of consumers with different preferences have helped increase the market size in North America, making it a desirable market for swimwear brands and retailers.

The U.S. swimwear market is expected to grow rapidly in the coming years due to the growing trend of fitness and wellness. This trend has resulted in increased participation in water-related activities, stimulating demand for swimwear. The country's increasing number of indoor pools and natural lakes provides ample opportunities for swimwear usage. Furthermore, promoting body acceptance and diversity has expanded the customer demographic, driving the need for various swimwear choices.

Europe Swimwear Market Trends

Europe swimwear market is anticipated to witness the fastest CAGR over the forecast period. The diverse geographical landscape of the region, including shorelines, bodies of water, and pools, along with an extended swimwear season swimwear in several countries, have created a favorable setting for the purchase of swimwear. Furthermore, Europe's fashion-forward consumers and a growing emphasis on body positivity have led to a robust market for creative and diverse swimwear designs, promoting market growth in the region.

The UK swimwear market is expected to grow rapidly in the coming years due to the rising popularity of water sports such as swimming, surfing, paddle boarding, and others, resulting in a higher demand for swimwear. Furthermore, the wide range of swimwear styles and designs preferred by the country's diverse population has led to a strong market for swimwear retailers and brands to serve.

Key Companies & Market Share Insights

Some of the key companies in the market include Arena S.p.A, Nike, Inc., Beach Bunny Holdings, LLC. Boardriders., Adidas AG, and others. Organizations focus on increasing customer base to gain a competitive edge in the industry. Therefore, key players are taking several strategic initiatives, such as mergers and acquisitions and partnerships with other major companies. 

• Arena S.p.A is a leading swimwear and aquatic equipment manufacturer worldwide, renowned for its creative designs and top-quality products. The Italian company has gained a strong position in the swimwear market by appealing to professional athletes and casual swimmers due to its competitiveness, technological advancements, and focus on style, comfort, and sustainability.

• Beach Bunny Swimwear is a renowned global swimwear brand known for its ultra-feminine, luxurious bikini designs and vacation clothing. It has evolved from a small startup in a garage to a successful multi-million dollar business with a significant retail presence. Beach Bunny empowers women with stylish swimwear from premium European fabrics and excellent craftsmanship.

Recent Developments

• In July 2024, Arena, a global leader in high-quality swimwear, goggles, swim caps, and accessories for competitive swimming and fitness, announced the addition of world backstroke champion Hubert Kos to its elite group of athletes.

• In December 2023, Arena, one of the world's leading providers of water wear globally and a growing presence in the sports lifestyle sector, announced that its parent company in Italy has transitioned to a Societa Benefit, commonly known as a "Benefit Corporation," a purpose-driven legal model.

Swimwear Market Report Scope

Global Swimwear Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global swimwear market report based on fabric, distribution channel, end use, product, and region:

• Fabric Outlook (Revenue, USD Million, 2018 - 2030)

  • Nylon

  • Polyester

  • Spandex

  • Others

• Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)

  • Supermarkets & Hypermarkets

  • Convenience Stores

  • Online

• End Use Outlook (Revenue, USD Million, 2018 - 2030)

  • Men

  • Women

  • Boys

  • Girls

• Product Outlook (Revenue, USD Million, 2018 - 2030)

  • Racing Suits

  • Drag Suits

  • Speedos

  • Square Leg Suits

  • Leg Skin

  • Swim Trunks

  • Others

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

  • Asia Pacific

    • China

    • Japan

    • India

    • South Korea

    • Australia

  • Latin America

    • Brazil

  • Middle East and Africa (MEA)

    • South Africa