Swimwear market to grow 6% by 2026: report
The swimwear market has a sunny future.
Following the advent of the Covid-19 pandemic, which forced many swimming pools to close to minimize the spread of the virus, the global swimwear market is expected to register growth at a compound annual growth rate (CAGR) of 6.3 percent from 2021 to 2026, according to a new report available on ResearchAndMarkets.com.
The closure of schools and universities across the world in 2020 also negatively affected the sales in the global swimwear market, but now new trends are pointing to growing demand. The report indicates that key factors, such as design, trend, and comfort of the fabric, play a major role in driving the market.
In particular, swimwear manufacturers and designers have focused on the comfort level of swimwear, and considered the popularity of value-added features, such as trendy prints and convenient cuts. This also points to the growing demand for branded swimwear.
While swimming in the United States has experienced a notable bump in participation each year since 2004, the Asia-Pacific region is expected to experience a higher growth rate than the other regions in the next five years, due to government initiatives and moments like "Khelo India”.
Meanwhile, the Chinese swimwear market is driven by the country's huge population that is finding a passion for water sports, as they consider swimming as the best form of physical exercise in China, which will help drive a healthy demand for swimwear products in China. Likewise, in Australia, according to the National Sports Participation report, swimming was the most common outdoor activity in 2014.
Finally, the major companies in the global swimwear market included Arena Italia SpA, Perry Ellis International Inc., and La Perla Group, while Pentland Group PLC (Speedo International Limited) has remained one of the most active companies in the market.
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