Women's Swimwear - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

Women's Swimwear - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

The Women's Swimwear Market size is estimated at USD 9.19 billion in 2024, and is expected to reach USD 10.57 billion by 2029, growing at a CAGR of 2.84% during the forecast period (2024-2029).

Key Highlights

• 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.

Women's Swimwear Market Trends

Increasing Popularity of Swimming as a Hobby and Sport

• Health-conscious customers in the region are opting for going swimming as a hobby and an important sports activity as well. According to Outdoor Foundation data, 25.62 million people in the United States, including men and women, participated in swimming activities in 2021. Owing to this, the demand for swimwear is increasing among women.
• Additionally, market players are also launching new products in the market that is attracting women. Market players are also launching new ads and campaigns on social media to attract customers.
• 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. In October 2021, Kim Kardashian West, the TV personality and founder of Skims, collaborated with Italian fashion house Fendi to release a unique collection. The upcoming SKIMs x Fendi ready-to-wear collection will feature swimsuits, form-fitting dresses, and tops, and prices start at USD 950.
• Visually driven social media platforms, such as Instagram and Pinterest, initially emerged as digital counterparts to window shopping. However, with the introduction of features like Buyable Pins, social ads, and shoppable Instagram galleries, these platforms now offer brands instantaneous access to stores and product pages through social media. The captivating visual content, particularly in swimwear customer photos, fosters an active social community and inspires brand enthusiasts to share an abundance of user-generated content.
• Aspirational content transcends mere informational messaging and delves into the realm of immersive 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.

Asia-Pacific Holds Largest Market Share

• 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 buying modern and designer swimsuits, particularly multipurpose one-pieces, and cover-ups are also seen as fashion choices.
• Additionally, participating in swimming as a sport is also increasing among women. According to Australian Sports Commission Survey data from 2022, 18.3% of women participated in swimming in Australia.

Women's Swimwear Industry Overview

The women's swimwear market is highly fragmented and competitive, with various global and regional players. The prominent players in the market include Chanel Group, Adidas AG, Swimwear Anywhere Inc, Marysia, and LVMH Moet Hennessy Louis Vuitton.

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.

Additional Benefits:

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