Swimwear is a type of apparel that is designed to be worn by persons who participate in water-based activities or water sports such as swimming, water polo, driving surfing, water skiing, or sun bathing. In sports like scuba diving, water skiing, and wakeboarding, a swimsuit is required as an under garment. In the market, there is a large variety of trendy and stylish swimsuits that vary in size and quality. Board shorts, jammers, swim trunks, briefs or "speedos," thongs, and g-strings are all terms used in Western culture to describe men's swimwear. The item falls under the category of casual wear. Men's attitudes toward swimsuits have evolved over time. Designers are expanding their product offerings as men have become more sensitive of their appearance, resulting in significant growth in the industry. Because sports brands are getting more stylish and fashion brands are becoming more sports practical, the use of swimwear such as shorts and board shorts is on the rise. Growing public awareness of the benefits of participating in physical activities such as swimming to maintain a healthy lifestyle is predicted to boost market growth.
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Top Impacting Factors
- Relaxed clothing norms, rising interest in body care, social mobility, acceptance of swimming as a calming leisure for an elderly population, and increased textile sector performance are all major drivers for the swimsuit market.
- Product innovation as a result of increased demand for trendy sports apparels is another important factor driving market expansion. Furthermore, an increase in the number of luxury swimming clubs and spas, particularly in developed countries, will add to product demand.
- Furthermore, as a result of government campaigns aiming at the development of new tourist destinations, the fast developing travel and tourism sector in countries such as China, Australia, and India is likely to aid increase market growth in the future years.
- The swimsuit market is predicted to grow in the next years as a result of increased product innovation and advancements in technology, such as the insertion of neoprene fiber into fabrics to improve their flexibility and efficacy.
- Key aspects like as style, trend, and fabric comfort play a crucial part in driving the market as fashion trends change. As a result, there is a growing need for branded swimwear that is of excellent quality and resistant to chlorine in the sea.
Market Trends
New Product Launches to Flourish the Market
Manufacturers are increasing their R&D spending in order to develop sophisticated products, which will likely contribute to market expansion. For example, Stella McCartney partnered with ISA Spa in 2017 to expand their men's swimwear range and related accessories, such as boxers, beach bags, briefs, t-shirts, and towels. By product type, the speedo and square leg segments each have a significant part of the men’s swimwear market. By the end of the forecast period, the speedos segment is expected to have grown at a rapid rate. The European market for speedos accounts for around a fourth of the total.
The majority of the producers employ sophisticated textiles like neoprene, which are lightweight, flexible, and provide excellent thermal insulation. Men's neoprene swimwear is available from companies including Speedo International Limited and O'NEILL.Polyester-based products are in high demand because they have excellent wrinkle resistance and color retention, as well as the capacity to endure pressure. In addition, companies are developing polyester materials with higher proportions, which are denser and less likely to lose shape quickly.For example, Speedo International Limited, situated in the United Kingdom, offers a selection of chlorine-resistant and polyester-based items.
Swimming has Become More Popular as a Sport
Following the Summer Olympics in 2004, swimming in the U.S. has seen a significant increase in participation each year. High school and club involvement has increased steadily over time, but probably most crucially, swimming skill has improved.
In the next five years, the Asia-Pacific area is predicted to develop at a faster rate than the rest of the world. Fast-growing economies, such as India and China, have a lot of promise in terms of swimsuit consumption.
COVID-19 Impact analysis
- The spread of COVID-19 hampered marker pen production, supply, and demand, which had a detrimental impact on the market. As the COVID-19 pandemic spread over the world, governments in a number of countries imposed harsh curfews, preventing people from going outside, including public areas and businesses.
- Many swimming pools were compelled to close after the COVID-19 was discovered, in order to prevent the virus from spreading. Furthermore, the closure of schools and institutions around the world in 2020 had a negative impact on the worldwide swimwear market's sales in 2020.
- The swimwear market is rapidly approaching pre-COVID levels, with a high growth rate predicted over the forecast period, thanks to the economic recovery in most emerging countries. Unprecedented scenarios, however, as a result of the predicted third and subsequent waves, are casting a bleak picture.
- Due to the closure of physical retail locations and poor demand for non-essential products, online sales of swimwear may experience a predicted increase in popularity. People can still purchase swimsuits to prepare for vacations and other aquatic activities once the situation has returned to normal.
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Key Benefits of the Report
- This study presents the analytical depiction of the men’s swimwear industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the men’s swimwear market share.
- The current market is quantitatively analyzed to highlight the men’s swimwear market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed men’s swimwear market analysis based on competitive intensity and how the competition will take shape in coming years
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