The swimwear market, valued at $19.8 billion in 2022, is anticipated to surge at a CAGR of 4.5% from 2023 to 2032, reaching a substantial $30.9 billion, according to a report by Allied Market Research. Swimwear serves not only as functional attire for water-related activities but has evolved into a fashion statement.
Women's swimwear, dominating the market, showcases bold colors, asymmetric designs, African and geometric prints, and modern silhouettes. High-end brands are gaining popularity as they offer trendy prints and convenient cuts that enhance the slimming effect, appealing to consumers seeking both style and functionality.
The report highlights the expanding demand for men's swimwear, which has become suitable for sports and casual wear. Notably, vendors are expected to introduce new product lines and innovations to cater to this growing trend and attract new consumers.
Regionally, Asia-Pacific is projected to witness the highest growth rate, registering a CAGR of 5.4% from 2023 to 2032.
