According to the Technavio report, the global swimwear market is expected to reach $20 billion by 2019, with annual compound growth of more than 5%.
Since 2010, the global swimwear market has been growing slowly, and this growth rate will continue in the future. In the past three years, more and more people are interested in swimming and water sports. The participation rate of water sports users in the United States increased from 12.5% in 2012 to 13.9% in 2014. Suppliers are also investing in the development of comfortable, stylish swimwear products.
"In developing countries, especially in the developing countries of the Asia Pacific region, people are becoming more and more likely to accept swimsuits," says Brijesh Kumar Choubey, an analyst at Technavio. Therefore, with the supplier to provide a range of products, the next five years, the market demand for swimwear will usher in tremendous growth." The report divides the global swimwear market into four regions: the Americas, Europe, Asia Pacific and the middle east.
Americas: largest swimwear Market
Swimwear market in the Americas is expected to reach $10 billion by 2019, with annual compound growth of more than 6%. The swimsuit market in the United States is very mature, and the design innovation promotes the steady growth of the market. The increase in the number of conservative and extra large swimwear has a positive effect on the market.
Europe: new fashion trends stimulate market development
Europe's swimwear market will grow by more than $5 billion by 2019, with compound growth of nearly 3% a year. European swimsuit market has entered a mature stage, market growth is slow, leaving only a small number of channels available for expansion. This region, however, has a high acceptance of new styles and trends in swimwear, so this is one reason for market growth.
Asia Pacific: swimming is becoming more and more popular, contributing to market growth
The swimwear market in the Asia Pacific region will reach $4 billion by 2019, with a CAGR of more than 8%. Over the next five years, the swimwear market grew fastest in the Asia Pacific region. These rapidly developing countries such as India and China have great potential for development
The Middle East: conservative swimwear promotes market development
The swimwear market in the Middle East is expected to reach $560 million by 2019, with annual compound growth of more than 4%. Market share in the Middle East is the smallest, with a steady growth rate. "The demand for swimwear in this market continues to rise, especially after the emergence of a conservative swimsuit." Brijesh says.