Swimwear Segment Occupied More Than Half of the Revenue Share of the Global Swimming Gear Market in 2015 & Will Retain Its Po...
May 30 2016 - 4:20PM
Business Wire
According to the latest market study released by
Technavio, the global swimming gear market is
expected to record over USD 31 billion by 2020, should the market
sustain a CAGR of more than 5% during the forecast period.
This research report titled ‘Global Swimming Gear Market
2016-2020’ provides an in-depth analysis of the market in terms
of revenue and emerging market trends. This market research report
also includes up to date analysis and forecasts for various market
segments and all geographical regions.
Request sample report: http://goo.gl/2CuZEp
Based on product type, the global swimming gear market is
segmented into the following categories:
- Swimwear
- Swim caps
- Swim goggles
- Other swimming gear
Global swimwear market
The swimwear segment accounted for more than half of the revenue
share of the global swimming gear market in 2015 and is likely to
retain its leading position during the forecast period as well. The
segment’s leading position stems from the fact that these products
are expensive and are mandatory for swimming. The segment will also
post the fastest growth rate when compared to the other product
segments over the next four years, driven by new product
launches.
Brijesh Kumar Choubey, a lead analyst at Technavio for research
on outdoor gear, says, “With the growing popularity of
swimming as a sport, as a leisure activity, and as a form of
exercise, the swimwear market will grow significantly in the coming
years. APAC will post a favorable growth rate, owing to the
increasing participation in swimming. Vendors in this market are
also focusing on product innovations and are introducing designs
and styles as per the latest fashion trends.”
Global swim caps market
The swim caps segment was the second-largest segment for the
global swimming gear market in 2015. Since these are essential for
the sport of swimming, this segment will post a fast growth rate
over the next four years. This segment is likely to post the
second-fastest growth rate over the next four years, driven by the
increased number of participants in swimming and high adoption rate
of swim caps. Swim caps are products that protect the user's hair
and ears, as well as increase the speed of a swimmer by reducing
resistance. However, in many developing countries, the adoption
rate of these caps is still low. This is because people do not
perceive them as essential products to be used while swimming,
which is a challenge for the manufacturers operating in such
countries.
Global swim goggles market
Innovation and new product launches in the goggles segment will
aid in its growth during the forecast period. The global swim
goggles market is growing at a slow rate as many people still
prefer swimming without goggles and the adoption of this swimming
gear is still low even in developed countries. The market is driven
by innovation and product launches in this segment. “With
increasing awareness of the harmful effects of chlorine, especially
for the eyes, the adoption rate, as well as the market is expected
to post significant growth over the next four years,” says
Brijesh.
There are different types of swim goggles available in the
market today. Some of them are listed below:
- Leisure swimming or open water
goggles
- Training or competition goggles
- Swedish type goggles
Global other swimming gear market
The other swimming gear segment, which includes accessories,
hydration products, land training equipment, snorkeling equipment,
stopwatches, swim bags, swimming training aids, and swimming body
care products, is growing at a slow rate, owing to the slow
adoption and low replacement rates of these products. The global
other swimming gear market is projected to record USD 900 million
by 2020, growing at a CAGR of 2.35%.
The top vendors highlighted by Technavio’s research analysts in
this report are:
- Arena Italia
- Aqua Sphere
- Rue Royale Diana (Diana Sport)
- Speedo
- La Perla Global Management (La
Perla)
Browse Related Reports:
- Global Diving Suit Market
2016-2020
- Global Surfboard Market 2016-2020
- Global Swimwear Market 2015-2019
Purchase these three reports for the price of one by becoming
a Technavio subscriber. Subscribing to Technavio’s reports allows
you to download any three reports per month for the price of one.
Contact enquiry@technavio.com with your requirements
and a link to our subscription platform.
About Technavio
Technavio is a leading global technology research and
advisory company. The company develops over 2000 pieces of research
every year, covering more than 500 technologies across 80
countries. Technavio has about 300 analysts globally who specialize
in customized consulting and business research assignments across
the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research
techniques to ascertain the size and vendor landscape in a range of
markets. Analysts obtain information using a combination of
bottom-up and top-down approaches, besides using in-house market
modeling tools and proprietary databases. They corroborate this
data with the data obtained from various market participants and
stakeholders across the value chain, including vendors, service
providers, distributors, re-sellers, and end-users.
If you are interested in more information, please contact our
media team at media@technavio.com.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160530005149/en/
Technavio ResearchJesse MaidaMedia & Marketing ExecutiveUS:
+1 630 333 9501UK: +44 208 123 1770www.technavio.com