As we know and love to see, the swimwear industry has been on an extremely impressive upward climb in the past few years. As of June 21st, researchers have predicted that the swimwear industry will hit a booming $30.9 billion at 4.5 % CAGR by 2032. According to experts, this immense growth within the industry has product innovation, growth in interest in swimming and other water activities as an intense form of a workout, and finally the increase in demand for luxury swimwear in the women’s industry.

As we sit at a market size of $19.8 million in 2022, within just 10 years the size of the market is expected to increase by at least $10 million. Not only are there drives to further grow the industry, but there are also many opportunities for innovation within the industry. Market analysts state that there is immense room for growth within men’s swimwear, an incorporation of new and innovative fabrics such as neoprene within swimwear fabrics, and the opportunity to expand the market of multi-function swimwear, creating versatility in both swimwear, resort wear, and beachwear.

Written by Bryn Hager