The analysts forecast global swimming gear market to grow at a CAGR of 5.33% during the period 2016-2020. The report covers the present scenario and the growth prospects of the global swimming gear market for 2016-2020 To calculate the market size, we have taken into consideration the sales revenue of different types of swimming gear.
The following companies are the key players in the global swimming gear market: Arena Italia, Aqua Sphere, Rue Royale Diana (Diana Sport), Speedo, and La Perla Global Management. Other Prominent Vendors in the market are: Acacia, American Apparel, B. Swim, Billabong, Body Glove International, L*Space, Nozone Clothing, O'Neill Inc., Parah, Perry Ellis International, Quicksilver, Seafolly, and Swimwear Anywhere.
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According to the swimming gear market report a key growth driver is the introduction of specialized products. Specialized products that provide better protection and enhanced comfort while swimming, including UV protection, thermal swimwear, and more lightweight performance swimwear, are in high demand. We expect such innovative product launches to aid in the market growth considerably during the forecast period.
The global swimming gear market analyst said a key trend which is boosting market growth is the rising demand for modest swimwear. Modest swimwear conceals major parts of the body without causing any hindrances to the swimmer while swimming. The growth in the demand for modest swimwear can be attributed to a number of factors, including health concerns, safety issues, religious beliefs, or even individual choices. Modest swimwear was introduced by Lori Coulter through tunics and tops made up of Lycra and other materials that were suitable for chlorine and salt water. These were mostly made as cover-ups for swimmers for when they came out of the water. Although modest swimwear was initially used as cover-ups, consumers started using them as swimwear.
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Global Swimming Gear Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Swimming gear consists of swimwear, swim caps, swim goggles, training equipment like floating devices, and hydration products. Of these, the swimwear segment held the largest share of the market in 2015, and we expect this segment to post the fastest growth rate among all of the other product segments over the next five years. This is because of factors like the growing popularity of swimming as a sport, as a leisure activity, and as a form of exercise. The demand for swim caps will also increase at a steady rate over the next five years. However, the growth of the swim goggles segment will likely be curtailed due to low adoption rates of these products.
Further, the report states that one challenge that could hamper market growth is sociocultural restrictions in swimwear.
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