Swim Gear Market Size, Share Report, Industry Analysis, Growth, Forecasts 2023 - 2030

Swim Gear Industry Prospective:

The global swim gear market size was worth around USD 12.4 billion in 2022 and is predicted to grow to around USD 19.9 billion by 2030 with a compound annual growth rate (CAGR) of roughly 6.1% between 2023 and 2030.  

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Swim Gear Market: Overview

The word "swim gear" refers to all of the gear and accessories used in swimming sports. Towels, swimwear, caps, goggles, fins, and swimsuits are a few examples of this. It is crucial because it shields swimmers from potential harm and enables them to compete at their highest level. Some of the main drivers driving the demand for swim gear include the expanding popularity of swimming as a recreational activity, the growing awareness of swimming as a fitness regimen, the rising interest in water sports, and the burgeoning tourist industry. The market is expanding as a result of the growing number of swimming clubs and training facilities as well as the increased involvement in swimming events.

Key Insights

• As per the analysis shared by our research analyst, the global swim gear market is estimated to grow annually at a CAGR of around 6.1% over the forecast period (2023-2030).
• In terms of revenue, the global Swim Gear market size was valued at around USD 12.4 billion in 2022 and is projected to reach USD 19.9 billion, by 2030.
• The growing benefits of swimming are expected to drive the swimgear market growth during the forecast period.
• Based on the product, the swimwear segment is expected to dominate the market during the forecast period.
• Based on the distribution channel, the online segment is expected to grow at the highest CAGR during the forecast period.
• Based on the end-user, the women segment is expected to capture a majority of the market share during the forecast period.
• Based on region, North America is expected to hold a significant market share during the forecast period.

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Swim Gear Market: Growth Drivers

The increasing demand for environmentally friendly swimwear drives market growth

Customers are demanding additional products manufactured from organic materials, recycled materials, or cutting-edge eco-friendly technology as they become more conscious of the effects that product creation has on the environment. Brands are introducing new products with recycled plastics, regenerated nylon, or organic cotton to meet this need. Therefore, consumers need to ensure that sustainable and eco-friendly products are used in production processes. Additionally, businesses are urged to adopt sustainable practices to build a reputation as operators who care about the environment. For instance, Azura Bay offers a well-curated selection of morally and environmentally responsible swimwear that uses eco-friendly packaging techniques. Additionally, it gives customers the ability to contribute a percentage of their purchase to the organization of their choosing. VAUTE is a different firm that makes swimsuits from recycled carpet fibers. Throughout the projection period, these factors are anticipated to fuel the global swim gear market expansion.

Swim Gear Market: Restraints

Price-sensitive customers and market fragmentation hamper market growth

The fragmented nature of the swim gear industry forces businesses to adopt competitive pricing to increase their market share. The cost-sensitive character of mass and mid-range swimming gear is recognized by a multitude of established and local companies. This leads to the production of extremely affordable swimsuit goods that are sold on the international market in nations like China, where manufacturing costs are comparatively low. Smaller businesses in the worldwide swimming gear sector are finding it difficult to compete on pricing as a result.

Swim Gear Market: Opportunities

Increasing store launches offers an attractive opportunity for market expansion

The increasing store launch of swim gear is expected to offer an attractive opportunity for swim gear market development during the forecast period. For instance, in August 2023, the most popular swim store on the internet, SwimOutlet.com, announced the opening of its revolutionary, redesigned Team Stores. SwimOutlet Team Stores are transforming the way swim teams buy their equipment. They aim to improve and streamline the shopping experience for customers while also making it easier for administrators to oversee operations. With unique pricing accessible only to teams, SwimOutlet.com's new and enhanced Team Stores further demonstrate their dedication to giving swimmers, coaches, and administrators the best possible experience. The widest range of gear, tech suits, and swimsuits are all discounted. Every team member also gets a complimentary SwimOutlet+ Membership. Swim teams were the main focus while designing the new Team Store. Consumers may find the necessary gear and tailored outfits quickly by navigating their store with ease.

Swim Gear Market: Challenges

Counterfeit products pose a major challenge to market growth

The swim gear business may face serious challenges from counterfeit goods. Unknowingly buying inferior or counterfeit goods can harm the reputation of reputable companies and endanger consumer safety.

Swim Gear Market: Segmentation

The global Swim Gear industry is segmented based on the product, distribution channel, end-user, and region.

Based on the product, the global market is bifurcated into swimwear, swim caps, swim goggles, and others. The swimwear segment is expected to dominate the swim gear market during the forecast period. Swimwear with better performance qualities has been created as a result of developments in textile technology. Customers choose high-tech fabrics with superior flexibility, durability, and UV and chlorine resistance. In addition, some brands offer customizable swimwear options, allowing customers to choose specific colors, patterns, and styles. Personalization is becoming a key trend as consumers seek unique and individualized swimwear options. For instance, in June 2022, a new collection of swimwear, with vividly colored one-pieces and bikini tops and bottoms, was introduced by Swedish retailer H&M. Among the prints were purple, bright green, dark chocolate brown, and white; there was also an exquisite multicolored design. There are adjustable ties on a few of the pieces. Thus, this is expected to propel the market expansion.

Based on the distribution channel, the global swim gear industry is bifurcated into online and offline. The online segment is expected to grow at the highest CAGR during the forecast period. The market growth is attributed to the increasing significance of online platforms. The market for swim gear is significantly driven by the ease of buying online. Consumers may quickly compare products, shop whenever they want, and have their purchases delivered right to their homes. This accessibility is especially desirable to customers who might not have easy access to physical businesses that have an extensive selection of swimwear.

Based on the end-user, the global market is bifurcated into women, men, and children. The women segment is expected to capture a majority of the market share during the forecast period. Fashion trends have a big effect on women's swimwear. Seasonally, styles, hues, and patterns change, frequently reflecting larger trends in fashion. Tankinis, one-piece swimsuits, bikinis, and other designs fit a variety of body shapes and tastes. Fashionable and functional swimwear with racerbacks, high necklines, and other athletic elements is becoming more and more popular among women. Manufacturers are spending money on R&D to provide affordable, stylish swimwear for women in response to the growing demand for women's swimwear.

Swim Gear Market: Report Scope

Swim Gear Market: Regional Analysis

North America is expected to hold a significant market share during the forecast period

North America is expected to hold a significant swim gear market share during the forecast period. The market growth in the region is due to a wide range of sports enthusiasts from all age groups. Furthermore, consumers are becoming more conscious of the value of physical activities like swimming for preserving health and fitness. Additionally, businesses use a range of marketing strategies to advertise their goods, including social media campaigns, swim team sponsorships, and celebrity endorsements. Additionally, the area has a well-established swimming infrastructure, and swimming is a highly popular sport and leisure activity. Moreover, around 8% of the 130 million households in the United States have a swimming pool. Numerous water sports are highly popular and attract large numbers of competitors in major events, including wakeboarding, stand-up paddle boarding, jet skiing, surfing, snorkeling, scuba diving, canoeing, kayaking, and rafting. Therefore, over the projection period, these factors are anticipated to support regional market expansion.

Besides, the Asia Pacific is expected to grow at the highest CAGR during the forecast period. Rapidly growing economies such as China and India exhibit significant potential in terms of swim gear consumption. For instance, China's enormous population is becoming passionate about water sports and views swimming as the best type of exercise, which may contribute to the country's high demand for swim gear goods.

Swim Gear Market: Competitive Analysis

The global Swim Gear market is dominated by players like:

• Kiefer Aquatics
• FINIS
• Xtreme Swim
• SwimPath Ltd.
• Decathlon Sports India Pvt Ltd.
• A3 Performance
• Dolfin
• Swimwear Galore
• KAMPOS
• M&M Swim Inc
• SELKIE
• Macy’s and Q Swimwear

The global Swim Gear market is segmented as follows:

By Product

• Swimwear
• Swim Caps
• Swim Goggles
• Others

By Distribution Channel

• Online
• Offline

By End User

• Women
• Men
• Children

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa