Women'S Swimwear Market - Growth, Trends, and Forecasts

Women'S Swimwear Market - Growth, Trends, and Forecasts

The Global Women's Swimwear market is projected to register a CAGR of 2.99% over the forecast period.

• The growing interest among women in participating in water sports is one of several factors driving the global market for women's swimwear. Moreover, the market is growing as health awareness increases globally. Swimming is regarded as a safe, low-impact sport that has many positive effects on both the body and the mind. It works out the entire body since it stimulates every muscle. Swimming also reduces tension, enhances physical strength, and increases endurance. During the forecasted years, these factors are anticipated to fuel demand for women's swimwear worldwide.
• Over the medium term, the market has witnessed a growing interest in swimming as a sport and a hobby, supported by a rise in product innovations and advancing technologies, such as the incorporation of neoprene fiber to develop fabrics that improve their elasticity and efficacy. With the changing fashion trends, key factors, such as design, trend, and comfort of the fabric, play a major role in driving the market. Furthermore, manufacturers and designers focus on the comfort level of swimwear, as it has a high impact on the consumer's purchase decision.
• The popularity of value-added features, such as trendy prints and convenient cuts, is further driving the market growth. Moreover, high promotional activities and campaigns by manufacturers to increase their brand image are driving market growth. Owing to the rise in online shopping and the availability of high-end premium swimwear, the key players witnessed an increase in the sale of branded women’s swimwear during the study period.

• Social media has become an integral part of today's generation, especially when it comes to younger generations. Its impact is far-reaching and is highly influencing consumers' shopping behavior. According to a survey by CreditCards.com, in August 2021, 72% of millennials said social media impacts their buying decisions. Owing to these factors, social networks are expanding into every aspect of consumers' daily lives, including their shopping habits.
• Visually driven social media, like Instagram and Pinterest, started as digital forms of window shopping, but with Buyable Pins, social ads, and shoppable Instagram galleries, these brands have instant access to stores and product pages from social media.
• The aspirational visual content in swimwear customer photos keeps social communities active and inspires brand fans to share even more user-generated content. Aspirational content takes a step beyond informational messaging into the realm of lifestyle experiences. It allows companies to express their values through content encapsulating their brand's essence.
• In addition to inspiration, user-generated content allows customers to tell the brand exactly what they like and do not like about their products. Therefore, most brands, like Frankie's Bikinis, have their product development process largely influenced by Instagram, which highly increases swimwear sales. These social media platforms allow swimwear brands to connect to their customers, improve their product line per the consumers' preferences, and boost their market.

• Rapid urbanization in the Asia-Pacific area has led to higher spending on clothing among women in several nations, including China, India, Indonesia, and Thailand. This trend is expected to continue throughout the forecast period, increasing product demand. The region's swimwear industry is predicted to expand due to increasing women's swimwear awareness and consumer desire for fashionable, comfortable swimwear.
• Product innovation is the main factor fueling the expansion of the women's swimwear market in the Asia-Pacific region. The expansion of the women's swimwear market is fueled by changes in fashion trends and consumers' rising disposable income, which leads to an increase in the buying of modern and designer swimsuits, particularly multipurpose one-pieces, and cover-ups are also seen as fashion choices.
• The demand for women's luxury swimwear is rising, family beach holidays are increasing, and e-commerce platforms are becoming increasingly popular, all of which contribute to the expansion of the Asian-Pacific women's swimwear market. The emerging nations of the Asia-Pacific region are improving the beaches to boost tourism.
• For instance, the Indian government has launched 17 coastal development projects to increase beach and coastal tourism under the Swadesh Darshan Scheme of the tourism ministry. These factors drive the growth of the women's swimwear market in the Asia-Pacific region.

The global women’s swimwear market is highly fragmented and competitive, with the presence of various global and regional players. The major market share of women’s swimwear is dominated by a global group of companies. Thus, the global market is shared among some of the top-ranking companies such as LVMH, Chanel, Adidas AG, Swimwear Anywhere Inc, and Marysia. With the increasing number of brand-conscious consumers worldwide, major players are adopting strategies to draw their attention by introducing sustainable swimwear made using recycled material. Product innovation is implemented majorly by the players in the market as a part of expanding their product portfolios together, with catering facilities for consumers that aid in managing their lifestyles with innovative product offerings.

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support