LONDON--(BUSINESS WIRE)--The men's swimwear market is expected to grow by USD 1.46 billion during 2020-2024, according to the latest market research report by Technavio. Request a free sample report
Factors such as rising construction activities, growing interest in swimming, and increasing awareness about the benefits of swimming have increased the number of swimming pools across the world. This has resulted in a rise in the number of participants and enrollments in swimming activities in public and private swimming pools. In addition, commercial swimming clubs and pools are offering exclusive monthly and annual packages to attract customers. During 2012-2018, the number of swimming club members in the US grew at a CAGR of 13.27%. Therefore, the rise in the number of swimming pools and the increased participation in swimming is expected to fuel the growth of the global men’s swimwear market.
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As per Technavio, the strong influence of celebrity endorsements on purchase decisions will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Men's Swimwear Market: Strong Influence of Celebrity Endorsements on Purchase Decisions
Celebrity endorsement has evolved as one of the most effective marketing strategies in enhancing brand image and increasing sales. Hence, vendors often sign long-term endorsement agreements with high profile celebrities to enhance the brand value of their products. For instance, Canadian singer Justin Bieber endorses products of Calvin Klein brand by PVH. Such marketing initiatives are boosting the sales of men’s swimwear, which is fueling the growth of the global men’s swimwear market.
“Increasing participation in swimming activities by elderly and physically disabled and the introduction of smart connected swimwear will further boost market growth during the forecast period”, says a senior analyst at Technavio.
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Men's Swimwear Market: Segmentation Analysis
This market research report segments the men's swimwear market by distribution channel (specialty stores, department stores, online retail, and others) and geography (APAC, Europe, MEA, North America, and South America).
The North American region led the men's swimwear market in 2019, followed by Europe, APAC, South America, and MEA respectively. During the forecast period, the North American region is expected to register the highest incremental growth due to factors such as increased demand for men’s swimwear in the US.
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Some of the key topics covered in the report include:
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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