Swimming gear: Key market research findings
- Increased demand for specialized products such as sports swimwear and swimming glasses with UV protection
- The Americas dominate the market geographically
- Key vendors—Arena Italia, Aqua Sphere, Rue Royale Diana (Diana Sport), Speedo, and La Perla
Technavio’s market research analysts predict the global swimming gear market to grow at a CAGR of more than 5% between 2016 and 2020. The market is driven primarily by the introduction of specialized products in the market. There is an increasing demand for specialized products as they provide better protection and enhanced comfort while swimming. These products include swimming gear with UV protection, thermal swimwear, and lightweight performance swimwear. The Americas dominated the global swimming gear market in 2015 by accounting for over 47% of the market share. The growing number of participants in swimming events is the primary driver for the market in this region. Initiatives to create awareness about drowning and encourage more people to swim are some of the factors that are likely to contribute to the growth of the swimming gear market in this region during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the swimming gear segments by product.
“The latest trend in the global swimming gear market is an increase in demand for plus size swimwear. The increasing rates of obesity coupled with the lack of targeted products have created a gap in the market. However, the introduction of the plus-size swimming gear is transforming the market. Even though the plus-size revolution in the swimwear market is still limited, the market displays scope and potential for growth of such products in the coming years,” says Brijesh Kumar Choubey, Lead Analyst, Consumer & Retail, Technavio Research.
Currently, the swimwear segment occupies over 67% of the market space to dominate the global swimming gear market. This segment of the market is flourishing due to the increasing popularity of swimming as a sport, leisure activity, and a form of exercise. Vendors in the market are focusing on product innovations and are introducing designs and styles that are in compliance with the newest fashion trends. Innovation in terms of materials and size is likely to augment the demand for swimming suits and swimming aids and subsequently contribute to the growth in the global swimwear market by 2020.
The key vendors in the global swimming gear market include Arena Italia, Aqua Sphere, Rue Royale Diana (Diana Sport), Speedo, and La Perla. The market for swimming gear is fairly competitive with the presence of well-established vendors offering diversified product portfolios. The market has multiple active vendors with established brand equity. The entry of new players in the market will be limited due to high establishment costs and the strong R&D support to start a business in the market. The prevailing market competition coupled with changes in technology and consumer preferences will pose significant challenges for vendors’ operations during the forecast period.
A more detailed analysis is available in the Technavio report, Global Swimming Gear Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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