The premium segment is anticipated to grow at the highest rate during the forecast period owing to growing desire of youth population towards premium products.
According to a new report published by Allied Market Research, titled, “Women Sports and Swimwear Market,” The women sports and swimwear market size was valued at $81.73 billion in 2021, and is estimated to reach $148.32 billion by 2031, growing at a CAGR of 6.4% from 2022 to 2031.
Sports clothing is typically worn during athletic competitions or during workouts. When performing physical movements, they are intended to offer comfort and agility. Sports clothing is comprised of breathable materials that enable perspiration to dissipate more quickly, allowing the wearer to stay cool for a longer period of time. Some of the most popular fabrics utilized in the creation of these clothes include polyester, microfiber, calico, and spandex. A sort of clothing or costume called swimwear is made to be worn by those who are swimming, water skiing, surfing, or simply sunbathing. There are numerous types of contemporary swimwear available. Depending on the body coverage and material, they differ.
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According to women sports and swimwear market analysis, the women sports and swimwear market growth is fueled by the shifts in fashion and women sports and swimwear market trends and rise in consumer disposable income, which leads to an increase in the purchase of contemporary and designer swimsuit, particularly multifunctional one-pieces and cover-ups that are also seen as fashion statements. The rise in family beach holidays, the rising desire for luxury swimwear among women, and the widespread use of e-commerce platforms all contribute to the expansion of the worldwide sports and swimwear market. The price volatility of raw materials like polyester, nylon, polypropylene, spandex, neoprene, and other fibers, as well as the cost of designing swimwear with the desired texture, design, look, and other fashion attributes, have a greater impact on the size of the women sports and swimwear market and creates women sports and swimwear market opportunities.
The global women sports and swimwear market is segmented into material, price point, distribution channel, and region. By material, the market is divided into synthetic and natural. Further, synthetic is classified into polyester, nylon, neoprene, spandex, and others. Moreover, natural is classified into silk, cotton, and others. Among these, the natural segment occupied the major women sports and swimwear market share in 2021, and is projected to maintain its dominance during the women sports and swimwear market forecast period. The growth of the natural segment is attributed to the surge in demand for sports and swimwear made of cotton, wool, or silk. However, the synthetic segment is anticipated to grow at highest CAGR in the future.
By price point, it is classified into premium and mass. The premium segment is anticipated to grow at the highest rate during the forecast period, owing to growing desire of youth population towards premium products.
By distribution channel, the market is divided into e-commerce, supermarkets/hypermarkets, brand outlets, and discount stores. The discount stores segment is anticipated to grow at highest CAGR during the forecast period. This is described by favorable alternatives like discounts and free trials before purchases as well as the advantage of receiving satisfaction right away. Because of the growing popularity of the internet and online purchasing, the e-commerce sector is anticipated to develop at the fastest rate.
In 2021, Asia-Pacific accounted for 33.1% in the global women sports and swimwear market, and is expected to maintain its dominance during the forecast period. However, LAMEA is expected to possess the highest CAGR, owing to rising population of sports persons and athletes and growing demand for swimming.
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Due to the economic recovery in the majority of emerging economies, the market for women sports and swimwear is rapidly recovering the pre-COVID stages, and a stable growth rate is anticipated throughout the forecast period. The return of sporting events and the relaxation of international sporting travel restrictions are major drivers of the market recovery for women sports and swimwear. After the COVID-19 forecast period, these variables are anticipated to accelerate the market growth for women sports and swimwear.
The major players analyzed for global women sports and swimwear industry are Arena S.p.A, Adidas AG, Jantzen Brands Corporation, La Perla Group, Lululemon Athletica Inc., Nike Inc., O’Neill, Parah, Perry Ellis International, PVH Corporation, Quicksilver, Seafolly Australia, TYR Sport Inc., Under Armour Inc, and Wacoal Europe Ltd.
KEY FINDINGS OF STUDY
By material, the natural segment was the highest revenue contributor to the market, with $56,577.3 million in 2021, and is estimated to reach $100,413.3 million by 2031, with a CAGR of 6.1%.
Depending on price point, the mass segment was the highest revenue contributor to the market, with $48,489.5 million in 2021, and is estimated to reach $85,908.5 million by 2031, with a CAGR of 6.1%.
As per distribution channel, the discount stores segment was the highest revenue contributor to the market, with $26,745.1 million in 2021, and is estimated to reach $47,632.1 million by 2031, with a CAGR of 6.2%.
Region wise, Asia-Pacific was the highest revenue contributor, accounting for $27,060.2 million in 2021, and is estimated to reach $53,158.2 million by 2031, with a CAGR of 7.2%.
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