The global men’s swimwear market size is expected to reach USD 6.29 billion by 2025 registering a CAGR of 6.4%, according to a new report by Grand View Research, Inc. Major factor contributing to the market growth includes product innovation as a result of rising demand for fashionable sports apparels. For instance, in 2017, McCartney formed a partnership with ISA Spa to increase the portfolio of their men’s swimwear collection and related products, such as boxers, beach bags, briefs, t-shirts, and towels.
Polyester-based swimwear apparels have the highest demand as they possess excellent strength and UV resistant properties. Furthermore, these products have excellent durability as well as quick drying characteristics. Increasing consumer awareness about advanced fabrics is expected to boost the demand for such products, thereby augmenting market growth. Online distribution channel is expected to be the fastest-growing segment channel over the forecast period.
Rising penetration of e-commerce websites, such as Myntra and Amazon, which offer a wide range of products at discounted prices and Cash-On-Delivery (COD) services is expected to have a positive impact on the segment growth. Asia Pacific led the global market in 2018 and is projected to expand at the highest CAGR from 2019 to 2025. Changing consumer behavior and growing disposable income levels in developing countries, such as China and India, are the key factors driving the regional market.
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Further key findings from the study suggest:
- Polyester fabric segment accounted for the largest revenue share of the global market in 2018 due to high product demand
- The segment is projected to expand further at the fastest CAGR and maintain its leading position throughout the forecast years
- Asia Pacific was the dominant regional men’s swimwear market in 2018 and is estimated to witness the fastest CAGR from 2019 to 2025
- Key industry participants include Calvin Klein, Jack WillsMale-HQ, Mr Porter, Helly Hansen, Topman, Everlane, MR.G’S Designs, Marcuse, and Faherty Brand
- Companies are focusing on new product development to estimate the existing and future demand patterns
- For instance, in May 2019, France-based DEBAYN launched swim shorts with classic fit and adjustable side fasteners. The product comprises 4-way stretch polyamide fabrics, which provides optimum comfort in water sports and sailing.