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The mens swimwear market size is forecast to increase by USD 1.78 billion at a CAGR of 7.82% between 2023 and 2028. The market is experiencing significant expansion, driven by various influential factors. One key factor is the expanding consumer base among men, who are increasingly preferring long-sleeve swimsuits for sun protection. Another significant contributor is the proliferation of swimming pools, which has increased accessibility to swimming activities for a larger population. Furthermore, the participation of the elderly and physically disabled population in swimming activities has surged, fueled by health benefits and adaptive design innovations in swimwear. These trends collectively underscore the market's robust growth trajectory.
It also includes an in-depth analysis of market trends and analysis, market growth analysis, and challenges. Furthermore, the report includes historic market data from 2018 - 2022.
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Innovations in intelligent vending machines revolutionize the dispensing unit experience, offering convenience with cashless systems and telemetry systems for real-time monitoring. Incorporating voice recognition and digital signage, these machines enhance customer engagement, while integration with ERP systems streamlines operations. The market caters to varied preferences, including options for frozen items and instant food items, with smart vending machines accepting mobile payments and tokens. Equipped with touchscreen controls and sensory features like video, audio, and even scents, vending machines find placement in public places, catering to the fast-paced life of consumers. Collaboration with component manufacturers ensures quality in food vending machines, shaping the market's trajectory to meet evolving consumer demands. Our researchers analyzed the market research and growth data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The increasing demand for long-sleeve swimsuits among men is the key factor driving the growth of the market. Swimming is a popular activity in summer. However, significant changes in climatic conditions have led to an increased health impact of UV rays on the human body, especially during swimming or post-swimming in open areas such as swimming pools and beaches.
The harmful impact of UV rays can lead to skin tanning, rashes, sunburns, heat rashes, wrinkles/ageing, and, in extreme cases, skin cancer. Hence, swimmers are becoming more conscious about their skin health and looking for men's swimwear that can cover up a major portion of their bodies. Swimmers, after swimming, use coverups for their lower body and long-sleeve swimsuits for their upper body. Companies have introduced products to fulfill the growing demand for long-sleeve swimwear. Such factors are driving the growth of the global men's swimsuits market during the forecast period.
The growth of online and omnichannel retail is the primary trend in the global market. E-retailing is the fastest-growing sector in the market. E-retailing is gaining popularity because of its time-saving and cost-effective process of purchasing products. Online shopping through smart devices has gained popularity over the years because of the high penetration of Internet services, improved economy, and the upgrading of purchase and delivery options with the emergence of e-commerce.
Omnichannel retailing has also gained significance as an effective alternative to engage consumers both online and offline, which has spurred Companies such as Speedo to increase their presence on multiple channels. Speedo leverages the use of retailers such as Walmart and DICK'S Sporting Goods, its website, and third-party channels such as Amazon and Alibaba to sell its products. Such factors are expected to fuel the growth of the market trends during the forecast period.
The limited access and availability of swimming pools in areas with water scarcity is a major challenge to the market. Water levels have decreased significantly in many countries. A water crisis occurs when the water demand exceeds the supply or due to excessive wastage of water. The increasing water pollution levels, climate change, geographical differences, varying consumption patterns among the population, and urbanization also lead to a crisis of consumable water. Several countries are approaching Day Zero when they will face a severe water crisis.
Water pollution, resulting from the contamination of available water, reduces the amount of water available for personal consumption. The growing water crisis in several countries is restricting the construction of swimming pools as they require regular maintenance and filtration of water and replacement with a large amount of water. This increases water bills and, in turn, the membership fees of commercial swimming pools. It also hampers the construction of swimming pools in homes. The water crisis hampers participation in swimming activities, thereby hampering growth in demand. Thus, declining consumable water across the world would affect the growth of the market.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and forecasting strategies.
Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
American Eagle Outfitters Inc - The company offers men's swimwear such as AE 5.5 striped swim trunk, AE 5.5 geo swim trunk, AE 5.5 dip dye swim trunk, etc.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
By Material
Based on material, the market is segmented into polyester, spandex, nylon, and others. The market share growth by the polyester segment will be significant during the forecast period. Polyester is a good material for swim trunks because it's soft, sturdy, and wrinkle-resistant. It dries quickly and retains its shape even after repeated exposure to chlorine and UV rays. Such factors will increase segment growth during the forecast period.
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The polyester segment was valued at USD 1.02 billion in 2018. Many polyester swim trunks offer UPF 50 for covered areas. That also promotes superior airflow and circulation for constant comfort when you aren't in the water. The lining even helps your skin. More than just preventing contact with the fabric, it also safeguards you from developing rashes when exposed to moist materials.
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North America is estimated to contribute 28% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The US is the key market in North America, accounting for the highest regional and global share in 2022. Important parameters contributing to the market in the US are the launch of innovative products, access to digital platforms (Internet and smart devices), boosting online retail, growth in the number of swimming pools, increased participation and enrollment in swimming sports and activities, and expanding prospective end-user base. Though the saturating economy of the US is expected to hamper the growth of the market during the forecast period, the launch of an increasing demand for innovative swimwear, such as smart swimwear and swimwear made of eco-friendly fabric, will drive the market in North America.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
Swimwear Market: Swimwear Market Analysis Europe,North America,APAC,South America,Middle East and Africa - US,Germany,France,UK,Brazil - Size and Forecast
Swimming Gear Market: Swimming Gear Market Analysis North America, Europe, APAC, South America, Middle East and Africa - US, Canada, China, UK, Germany - Size and Forecast
Diving Suit Market: Diving Suit Market Analysis North America, Europe, APAC, South America, Middle East and Africa - US, China, Australia, UK, Germany - Size and Forecast
The market witnesses a blend of traditional and modern vending concepts, incorporating traditional vending machines alongside intelligent vending machines equipped with advanced features. With the rise of cashless payments and contactless mobile payments, vending machines integrate Internet of Things and connected device technologies for seamless transactions. Features like face recognition and near-field communication enhance user experience, while providing nutrition information and product warnings ensures consumer safety. Interactive elements such as interactive touchscreen, HD displays, and interactive promotions attract consumers, leveraging cloud technology for operational efficiency. Despite challenges such as product unavailability and maintenance costs, the market adapts with dynamic route optimization and logistics efficiencies, catering to diverse consumer preferences, from junk food to healthy products. As consumer behavior evolves, strategic decisions guided by technical innovations drive the market towards sustainable growth. The intelligent vending machine accepts both cash and coins, equipped with sensors to detect transactions and emit a pleasant scent to enhance the user experience.
Market Scope |
|
Report Coverage |
Details |
Page number |
174 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.82% |
Market growth 2024-2028 |
USD 1.78 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
7.1 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 28% |
Key countries |
US, China, UK, Germany, and Japan |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Adidas AG, American Eagle Outfitters Inc, Arena Spa, Chanel Ltd., Decathlon SA, DICKS Sporting Goods Inc., Frescobol Carioca, Hennes and Mauritz AB, Hermes International SA, Jack and Jones, Love Brand and Co., LVMH Moet Hennessy Louis Vuitton SE, Nike Inc., Pentland Brands Ltd., Perry Ellis International Inc., PUMA SE, PVH Corp., Thornico AS, Urban Outfitters Inc., and Vilebrequin |
Market dynamics |
Parent market analysis, Market Forecast, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Material
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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