Women's Swimwear Market is Estimated to Witness High Growth Owing to Opportunity in Plus Size Swimwear

Women's Swimwear Market



The women's swimwear market has witnessed significant growth in the past few years owing to availability of various trendy designs, new fabrics, sizes and prints in swimwear. Increasing participation of women in water sports, swimming and beach activities has increased the demand for stylish, comfortable and trendy swimsuits. Women's swimwear is now available in wide range of sizes from XS to XXXL to cater to different body types.

The global women's swimwear market is estimated to be valued at US$ 9058.77 Mn in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity:
The opportunity in plus size swimwear is expected to drive the growth of the women's swimwear market over the forecast period. According to research, around 60% of women wear size 14 or above. However, finding stylish swimwear in plus sizes has been a challenge. Most brands only offer limited styles and designs in larger sizes. Therefore, increasing availability of fashionable and trendy swimwear designs for plus size women presents a major opportunity for manufacturers. Focus on developing innovative fabrics, patterns, fits and cuts catering to unique needs of plus size customers can help capture this untapped market segment. Innovation in size-inclusive swimwear will empower all body types to freely enjoy beaches and pools, thereby driving the demand in coming years.

Porter's Analysis
Threat of new entrants: Low due to significant capital investment required for mass production and marketing. Brand establishment also poses a challenge.
Bargaining power of buyers: High due to availability of several options and brand variety. Buyers can choose from private labels and high-end designer wear.
Bargaining power of suppliers: Moderate as key raw materials like lycra, nylon, and spandex have few dominant suppliers globally.
Threat of new substitutes: Low as swimwear has few substitutes for its intended use.
Competitive rivalry: Intense as market is dominated by global fashion houses and private labels vying for market share. Frequent product launches and endorsement deals intensify competition.

SWOT Analysis
Strengths: Strong brand loyalty, rising living standards boost discretionary spending, ability to command premium pricing.
Weaknesses: High R&D and marketing costs, vulnerability to fashion trends, price wars during seasonal sales.
Opportunities: Growing interest in water sports opens up new segments, expansion into emerging markets like Asia Pacific and Latin America.
Threats: Price sensitivity in developing nations, competition from fast fashion retailers, threat from online private labels.

Key Takeaways
Global Women's Swimwear Market Demand is expected to witness high growth during the forecast period of 2023-2030. North America dominates currently due to hot weather climate and popularity of beach vacations. The region is anticipated to grow at a CAGR of around 6% during the forecast period. Asia Pacific is expected to grow the fastest at approximately 7% CAGR driven by increasing middle class and rising number of women participating in water sports and beach activities.

Key players operating in the women's swimwear market are LVMH Moët Hennessy Louis Vuitton, Marysia LLC, Chanel Group, Missoni SpA, Swimwear Anywhere Inc., La Jolla Group, LA Perla, TJ Swim, Pentland Group PLC, Adidas AG, Wacoal Holdings Corporation, and Puma Inc. Global fashion houses are focusing on premiumization through launch of exclusive collections and collaborations with influencers. Players are investing significantly in marketing through celebrity endorsements and social media campaigns to increase brand visibility. Competitive pricing also remains a key focus area. E-commerce sales are expected to rise considerably during the forecast period.

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