LONDON--(BUSINESS WIRE)--The global swimming gear market is expected to grow at a CAGR of more than 5% during the forecast period, according to Technavio’s latest report.
In this report, Technavio covers the market outlook and growth prospects of the global swimming gear mist market for 2017-2021. The market is segmented on retail format (specialty stores, hypermarkets/supermarket/convenience stores, department stores, and online stores), product (swimwear, swim caps, and swim goggles), and end-user (women, men, and children).
Technavio’s research analysts categorize the global swimming gear market into the following segments by regions:
- Americas
- EMEA
- APAC
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Americas: largest swimming gear market
“The Americas is a key water sports market with sports enthusiasts in various age groups. There is a growing problem of obesity in the region. Consumers are increasingly getting health conscious and adopting sporting activities like swimming, which helps them remain fit and healthy. The interest in sports and existence of water sports infrastructure are the key factors aiding the growth of the market in the region,” says Sharan Raj, a lead analyst at Technavio for research on outdoor gear.
The US has an established water sports infrastructure and active consumer groups. Social media campaigns, sponsorships for swim teams, and celebrity endorsements are the key marketing initiatives taken by the swimming gear vendors in the market.
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Swimming gear market in EMEA
“France, Hungary, Italy, and Germany are the leading contributors to the market in Europe. The growing number of health and fitness-conscious consumers is driving the sales growth of swimwear in this region. New product launches, styles, and fashion trends are key to the growth of the market. Europe is also one of the leading markets for swimsuits and swim caps,” adds Sharan.
Growing economic health in the Middle East and Africa (MEA) has been helping the market grow manifold. Consumers are leaning toward a more health-conscious lifestyle, which has increased the popularity of different sporting activities like swimming, cycling, and running.
Swimming gear market in APAC
APAC is expected to have an accelerated growth during the forecast period and the fastest growth rate among all the regions in the global swimming gear market. Factors such as the rise in young population, increase in disposable income, and growth in awareness of health and fitness benefits associated with swimming are expected to drive the swimming gear in India, Australia, and China.
The major factor driving the sales of swimming gear in this region is the burgeoning middle-income population. Also, the developing regions of India, Sri Lanka, Malaysia, and Pakistan have been displaying an immense affinity toward various leisure activities such as swimming, which has led to the growth of the market in the region.
The top vendors in the global swimming gear market highlighted in the report are:
- Arena
- Aqua Sphere
- DIANA
- Speedo
- La Perla
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