WILMINGTON, Del., May 2, 2024 /PRNewswire/ — The rising demand from the fashion industry and the growing awareness of environmental impact are projected to drive the global sustainable swimwear market’s growth during the forecast period. The North America region is predicted to witness prominent growth by 2032.
Allied Market Research has recently published a report, titled, “Sustainable Swimwear Market Size, Share, Competitive Landscape and Trend Analysis Report by Material Type, By End User, By Application, By Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2023-2032.” According to the report, the global sustainable swimwear market size was valued at $7.8 billion in 2022, and is projected to reach $16.2 billion by 2032, growing at a CAGR of 7.7% from 2023 to 2032.
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Prime Determinants of Growth
The growing awareness of environmental impact, rising demand from the fashion industry, and the regulations & policies promoting sustainability are the factors expected to drive the growth of the global sustainable swimwear market in the forecast period from 2023 to 2032. However, the high costs and supply chain complexities may restrict market growth in the coming future. On the contrary, advancements in swimwear technology and the rising demand for eco-friendly products are expected to offer remunerative opportunities for the expansion of the sustainable swimwear market during the forecast period.
Report Coverage & Details:
|
Report Coverage |
Details |
|
Forecast Period |
2023–2032 |
|
Base Year |
2022 |
|
Market Size in 2022 |
$7.8 billion |
|
Market Size in 2032 |
$16.2 billion |
|
CAGR |
7.7 % |
|
No. of Pages in Report |
320 |
|
Segments covered |
Material Type, Application, Distribution Channel, End User, and Region |
|
Drivers |
Increasing awareness of environmental impact Regulations and policies promoting sustainability Growing demand from the fashion industry |
|
Opportunities |
Technological advancements in eco-friendly fabrics Growing demand for eco-friendly products |
|
Restraints |
Higher costs compared to conventional options |
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Material Type: Repreve Sub-segment to be the Most Dominant During the Forecast Period
The repreve sub-segment accounted for the largest global sustainable swimwear market share of 48.4% in 2022 and is expected to hold major share and rise at the highest CAGR of 8.1% during the forecast period. This significant growth is mainly due to increasing consumer preference for sustainability prompting the demand for eco-friendly alternatives like repreve, which utilizes recycled materials, resonating with environmentally conscious consumers. In addition, repreve’s performance attributes, including water-repellency, strength, resilience, stretchiness, and lightweight properties, cater to the demands of activewear, appealing to athletes and fitness enthusiasts seeking both sustainability and functionality in their clothing.
Application: Leisure Sub-segment to Flourish Immensely During the Forecast Period
The leisure sub-segment held the largest market share of 61.3% in 2022 and is predicted to grow at the highest CAGR of 8.0% during the forecast period. This growth is majorly owing to the popularity of sustainable swimwear for leisure activities due to its comfort, durability, and style, essential for extended wear during beach outings, pool parties, and water sports. Its versatility and performance make it suitable for various leisure activities, offering comfort, support, and freedom of movement, whether lounging, playing sports, or exploring aquatic environments.
Distribution Channel: Offline Sub-segment to Hold Major Market Share by 2032
The offline sub-segment accounted for the largest global sustainable swimwear market share of 58.7% in 2022 and is expected to hold major share by 2032. This significant growth is mainly because retail giants like REI and Nordstrom stock sustainable swimwear brands in their physical stores, offering customers the opportunity for hands-on experience, ensuring proper fit and quality. Besides, specialty stores provide a curated selection of sustainable swimwear options in dedicated environments, fostering community engagement and education around eco-friendly fashion practices, driving consumer interest and adoption of sustainable swimwear.
End User: Women Sub-segment to Witness Robust Growth During the Forecast Period
The women sub-segment held the largest market share of 65.5% in 2022 and is predicted to continue to hold major share and rise at the highest CAGR of 7.9% during the forecast period. Women tend to purchase swimwear more frequently due to fashion trends, body image, and social expectations. With a wide range of options catering to diverse preferences and body shapes, women can express individuality and feel confident. Additionally, the creative variety in women’s swimwear styles, from bikinis to swim dresses, offers further choices for personal style and modesty, contributing to its popularity.
Region: North America Market to Hold Major Share by 2032
The North America sustainable swimwear market accounted for the largest share of 31.7% in 2022 and is predicted to continue to dominate in terms of market share by 2032. This growth is mainly owing to the growing awareness and demand for eco-friendly fashion among consumers, fueled by increasing environmental consciousness. Additionally, North America boasts a vibrant fashion industry fostering innovation, promoting sustainable swimwear brands like Summersalt and Outerknown. These brands prioritize sustainability, utilizing recycled materials and responsible production methods, appealing to eco-conscious consumers in the region.
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Leading Players in the Sustainable Swimwear Market:
SUMMERSALT
Youswim Limited
Vitamin A
REY SWIMWEAR
TomboyX
Reformation
Andie Swim
Boden US
Patagonia, Inc.
Londre Bodywear
The report provides a detailed analysis of the key players of the global sustainable swimwear market. These players are employing various strategies including launching new products, entering collaborations, expanding operations, forming joint ventures, and signing agreements, all aimed at boosting their market share and securing their competitive position across different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Country wise Reports We Have in this Industry:
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