The men’s swimwear market has often been in the shadow of the far larger women’s swimwear market but new innovations in materials are helping this market get its share in the limelight. A particular trend that is having a substantial impact on the men’s swimwear market in the 21st century is a move towards transitional shorts perfectly suited to both casual wear and swimwear. Key players that specialize in men’s swimwear have expanded their businesses by focusing on new swimwear materials and extending their product line offerings. Companies are trying to cater to the millennial generation that unabashedly likes to flaunt bold colors and unique designs that give the wearer a sense of individuality in the swimwear market.
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Men’s swimwear includes both performance and recreational swimwear. The different types of men’s swimwear available in the men’s swimwear market are jammers, board shorts, swim trunks, swim briefs, tech suits, square leg suits, euro swimwear, lifeguard swimwear, and full-body wetsuits. Transitional shorts that seamlessly transform from casual wear to swimwear are a new addition to this category.
The men’s swimwear market is anticipated to be at a market value of approx. US$ 400 million by the end of the forecast period in 2022.
1) The swim trunks swimwear segment comprises a revenue share of a third of the men’s swimwear market making it vital for key stakeholders to target. Swim trunks are popular across young and old demographics and are largely expected to remain so. The swim trunks segment could be worth almost US$ 122 million by the end of the forecast period. Men’s bikinis on the other hand are an extremely niche segment and have a single digit revenue share in the men’s swimwear market. Companies would require customized strategies to reach their target audience effectively
2) The Leg Skin men’s swimwear follows swim trunks in terms of popularity and Europe accounts for a quarter of the regional contribution. A market opportunity touching US$ 19 million makes it well worth the while of major players in the men’s swimwear market. With respect to the square leg suits segment, both North America and APEJ represent a potential market opportunity as large as Europe
3) Polyester and Nylon are far more popular material types in the men’s swimwear market than cotton as both dry much quicker. The polyester market in Europe alone is predicted to push past US$ 40 million by end 2022. For companies making nylon swimwear APEJ can be the region to focus on
4) Spandex as a material is quite popular in the men’s swimwear market recently and has found its own in both North America and APEJ as both regions are on track to cross a value of US$ 17 million by the end of the forecast period. The CAGR growth rate is slightly higher in the former that companies could take into cognizance while formulating strategies
5) Mid-price swimwear consists of half the men’s swimwear market in terms of pricing and it is not hard to understand why. The mid-price segment strikes the perfect balance between comfort, better material quality, and cost-effectiveness which is why most consumers prefer it. This segment is estimated to be worth approx. US$ 200 million by end 2022, making it large enough for all companies involved in the men’s swimwear market
6) The premium price segment is about a third of the mid-price segment by size and it is not likely to cross it anytime soon. It can be challenging to market premium priced swimwear in Europe especially during these difficult economic times
Speedos and Square Leg Segments are an Equal Opportunity
The speedos and square leg segment have a revenue share of 13% each in the men’s swimwear market by product type. The speedos segment is predicted to grow to a value of over US$ 50 million by the end of the forecast period. Europe alone accounts for roughly a quarter share of the speedos market. On the other hand, the square leg segment is predicted to grow with a comparatively higher CAGR that key stakeholders in the men’s swimwear market would do well to make note of while devising their long-term investment strategies.
Swim Trunks are the Largest Segment in the Men’s Swimwear Market
Swim trunks are almost a third of the men’s swimwear market and are the most popular segment by a considerable margin. Companies would be advised to target either the Europe or APEJ swim trunks market as they are the only two regions poised to push past a value of US$ 30 million by the end of the forecast period. The leg skin segment comprises 1/6th revenue share by product type segment in the men’s swimwear market and companies may wish to attack the North America leg skin market segment as it closely follows both Europe and APEJ.
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Nylon and Polyester Far More Popular than Cotton Swimwear
Nylon and polyester together consist of nearly 2/3rd the men’s swimwear market and these material types outpace cotton swimwear by a massive margin. The polyester men’s swimwear segment is estimated to touch US$ 160 million by end 2022. Key players may want to target Europe as this typically colder continent has a large population that seeks to travel to tropical or coastal regions to escape the bitter winter months.
The Fact.MR report on the men’s swimwear market has profiled some of the prominent companies actively involved in the men’s swimwear market. The companies are Amer Sports Corporation, American Apparel, Arena Italia, Dick’s Sporting Goods, La Perla Group, NoZONE Clothing Limited, Orlebar Brown Limited, Parah S.p.a, Perry Ellis International, Speedo International, and Triumph International.
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