USD 10.238 bn growth expected in Swimming Gear Market | 32% growth to originate in North America | Technavio – QNT Press Release

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NEW YORK, June 23, 2022 /PRNewswire/ — The global swimming gear market report by Technavio predicts the market to observe an incremental growth of USD 10.238 billion between 2021 and 2026, expanding at a CAGR of 5.55% during the forecast period. According to the report, the market growth will be significant in North America. About 32% of the market growth will originate from the region. The presence of a well-established water sports infrastructure is one of the key factors driving the growth of the regional market.

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The global swimming gear market is fragmented, and the degree of fragmentation will accelerate during the forecast period. The market is highly competitive due to the presence of a large number of players. The highly competitive nature of the market is compelling vendors to distinguish their product and service offerings through clear and unique value propositions. Some vendors are expanding their product lines to maintain their dominance in the market, while others are competing on different aspects such as price, quality, brand, and variety.

Technavio identifies adidas AG, Aqua Lung, Arena Spa, BaliSwim, blueseventy LLC, Elite Sportswear, FINIS Inc., FIRST RANK Co. Ltd., HEAD, La Perla Global Management UK Ltd., Marquee Brands, Maruswim, MIRIADE Spa, Nike Inc ., Orbea S. Coop., Pentland Brands Ltd., Spurt, Swimwear Anywhere Inc., and TYR Sport Inc. as some of the major market participants. Although the product innovations and branding and promotions, growing interest in water sports, and rise in the number of swimming pools and swimming training programs will offer immense growth opportunities, to leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments, while maintaining their positions in the slow-growing segments.

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Swimming Gear Market 2022-2026: Segmentation

• Product
• Swimwear
• Swim Caps
• Swim Goggles
• Others

The swimwear segment generated maximum revenue in the market in 2021. The increase in the number of luxury swimming clubs, especially in developed countries is driving the growth of the segment.

• Distribution Channel
• Offline
• Online

The offline segment accounts for maximum sales of swimming gear. It is because customers find it comfortable to visit offline stores such as specialty stores, due to the insights and personal assistance that the salesforce provides. These stores also allow consumers to sample and evaluate products such as swimwear, caps, goggles, and other swimming gear. All these factors are contributing to the growth of the segment.

• End-user
• women
• Men
• Children

Based on the end-user, the demand for swimming gear is significant from women customers. The increasing number of fashion-conscious customers is driving the growth of the segment.

• Geography
• North America
• Europe
• APAC
• South America
• The Middle East and Africa

North America is currently the largest market for swimming gear. The growing problem of obesity in the region is increasing health consciousness among consumers. This is increasing consumers’ interest in sports and fitness activities including water sports. In addition, marketing initiatives undertaken by vendors such as social media campaigns, sponsorship for swim teams, and celebrity endorsements are driving the growth of the swimming gear market in North America.

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Swimming Gear Market 2022-2026: Key Highlights

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will assist swimming gear market growth during the next five years
• Estimation of the swimming gear market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the swimming gear market
• Analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of swimming gear market vendors

Related Reports:

• Swimwear Market by Application, Distribution Channel, and Geography – Forecast and Analysis 2022-2026
• In-The-Water Sports Equipment Market by Product, Distribution Channel, Type, and Geography – Forecast and Analysis 2022-2026

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