Summary of our market study
The global swimwear market, valued at $21.34 billion in 2020, is projected to grow at a CAGR of 6.25% and reach $32.62 billion by 2027, driven by an increasing population engaging in water activities and demand for sophisticated products. The UK market, forming part of the "Manufacture of other wearing apparel and accessories" subclass, had a turnover of £496.4 million in 2020, capturing almost 3% of the global share. Despite the health crisis leading to a downturn in clothing expenditures by British households and a decrease in swimwear searches and swimming activities in 2020, the market has remained resilient.
The UK imports primarily from China, Bangladesh, and Italy, while its exports mainly go to Germany and Ireland. Production is largely outsourced to Asia due to lower costs. Online sales have surged, especially during the health crisis, though there's been a decline with the reopening of physical stores. Nike and JD Sports are significant players in the sports brand category with turnovers of £27.65 billion and £5.25 billion respectively in 2020, while Amazon and ASOS dominate as digital pure-players, with Amazon generating £22.18 billion in the same year.
Fluctuations and Trends in the UK Swimwear Market Amidst Evolving Consumer Habits
In recent years, the swimwear market in the United Kingdom has been subject to a series of notable trends, fluctuations, and demographic preferences that have shaped the landscape of demand. With an increasing number of the British population taking up swimming, both for leisure and as a sport, the market has seen an overall growth trajectory. This upward trend is partly fueled by rising recreational expenditures and a growing interest in swimming as a hobby. Despite this, there has been a noticeable decrease in swimwear demand due to the impact of the health crisis from 2020 onward, with household spending on clothing dipping by around 5%. The UK swimwear market demonstrates a significant seasonality, with search interest and sales peaking during the summer months of June, July, and August. It also showcases a demographic inclination towards female consumers who report swimming more than twice a week. The market accommodates a myriad of swimming preferences, from outdoor pools to open water, each with its particular choice of swimwear styles. Concerning the supply side, the UK faces a substantial trade deficit in swimwear, importing more than it exports. Key suppliers hail from countries like China, Bangladesh, and Italy, with Germany and Ireland being the prime recipients of British swimwear exports. The domestic landscape is highly fragmented, with production largely outsourced to reap cost benefits and leverage foreign expertise, especially from Asia. The onset of the health crisis has also accelerated the digitalization of the swimwear market.
Online sales, which had been increasing even prior to 2020, saw a significant jump during the first half of the year due to lockdown measures and the temporary closure of physical retail stores. While online sales have since experienced a slight decline with the reopening of stores, the influence of the internet and social media remains a powerful force in shaping consumer behavior and preferences. Price points for swimwear vary widely, depending on the type of product and retail outlet. While specialized swimwear retailers offer bikini tops and bottoms in the range of approximately £30-£70, sports brands and ready-to-wear generalists present more affordable options. Digital platforms also provide a significant variety in swimwear pricing, making it an increasingly popular choice among shoppers. The segmentation of the market shows the plurality of players involved, ranging from sports brands like Nike to digital pure-players such as Amazon and Asos. Each segment contributes to a vibrant and competitive market environment. In summary, while.
Key Players in the Dynamic Swimwear Market Landscape
In the diverse ecosystem of the swimwear market, several major players stand out, each bringing unique offerings and catering to different segments of consumers.
- Sports Brands Making Waves Nike, a global behemoth in the sports apparel industry, is a significant player in the swimwear domain as well. With a strong emphasis on performance and innovation, Nike swimwear is designed to cater to athletes and fitness enthusiasts who demand high-quality, durable swimwear for training and competition. JD Sports is another sports retail giant that offers a wide array of swimwear products, from performance-focused pieces to more fashion-forward beachwear. They cater to a broad customer base with their extensive selection of brands and styles.
- Digital Retailers: The New Tide in Swimwear Shopping Amazon, with its colossal online presence, offers convenience and a vast selection, turning it into a one-stop-shop for swimwear ranging from high-end designer pieces to more budget-friendly options. Their robust platform makes them a formidable force in online retail. Asos is a digital fashion-forward retailer known for its trendy and affordable swimwear selections. They are particularly appealing to the younger demographic that values ease of access, variety, and fast fashion trends.
- Specialists in Elegance and Comfort Calvin Klein stands as a premier name in the realm of swimwear with its luxury and designer lines. The brand is synonymous with timeless style and high-quality materials, resonating with consumers who look for sophistication even when heading to the beach or pool. Etam is recognized for its lingerie and swimwear that blends comfort, elegance, and a touch of French chic. Their collections often reflect the latest fashion trends and cater to women who seek a combination of style and comfort.
- Generalist Brands Catering to All Argos is renowned for its extensive range of products, including a selection of swimwear for men, women, and children. As a generalist retailer, they offer a variety of choices to accommodate the preferences and needs of the entire family. Next Retail also stands out as a multi-faceted retailer that provides a broad assortment of apparel, including swimwear. With a focus on quality and value, they serve a wide customer base looking for fashionable and functional swimwear options.
- Boutique Brands: Exclusive and Unique While not as widely known as their colossal counterparts, boutique swimwear brands like Hunza G, Faithfull The Brand, and Fisch have carved out their niche markets.
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Summary and extracts
1 Market overview
1.1 Definition and scope of the study
The swimwear market can be divided into two broad categories:
- Technical swimwear used by swimmers in the pool or in a sporting context;
- Leisure swimwear, which is a more fashionable type of swimwear used for example at the beach.
In particular, swimwear is made primarily of nylon, polyester and spandex, with polyester being the most common material. Although Covid has had an effect on swimwear purchases, the swimwear market is globally growing and is expected to continue to grow at a rapid pace. Among the key drivers:
- More people are learning to swim;
- Swimming is becoming more popular;
- Spending on recreation is increasing.
The Asia Pacific region, in particular, is expected to grow the fastest due to the increase in swimming activity. The global market is highly fragmented, with no single player holding more than 1.5% of the total market share in 2019. Some of the largest companies include the Pentland Group, Inditex, Calzedonia, and Adidas.
According to edited, the UK market will continue to grow by 2.3% through 2023, driven by increased public interest in sports, both in a leisure and sports context. The rate of people who can swim in the UK is high, but there is a gap in the age distribution, where the ability to swim decreases with age. In other words, swimwear retailers must keep this demographic factor in mind when implementing marketing strategies.
In particular, retailers are stocking stores in 2020 with what they believe will be fashionable in the future, including comfortable swimsuits, wide waist bikinis and animal prints.
1.2 A growing global market
In ****, the global swimwear market was valued at $**.** billion. [***]
The market was projected to grow at a CAGR (***) of *.**% from **** to **** to reach $**.** billion by ****.
Global Swimwear Market Size World, ****-****, $ billion Source: ****
The growth of the global market is mainly driven by the increasing population, the rise of water activities and vacations by the sea or pool, and the upscaling of products to meet the growing demand for increasingly sophisticated items.
1.3 The UK market
According to the Office for National Statistics, the swimwear market is included in the clothing and textile subclass titled "Manufacture of other wearing apparel and accessories" which had a turnover of £***.* million in ****, equivalent to almost *% of the global market.
Assuming that the UK market share in the global market is constant, we can estimate the market development until ****.
UK Swimwear Market United Kingdom, ****-****, USD million Source: ****
1.4 International Trade
The United Kingdom has a significant trade deficit regarding swimwear. Indeed, the volume of imports exceeds exports every year. Both flows were following rather increasing trends until **** with respective growths of **% and **% for imports and exports from **** to ****. However, **** was a turning point with respective drops of **% and **% in volume.
Evolution of UK swimwear exports and imports United Kingdom, ****, £m Source: ****
The majority of swimwear imported into the UK comes from China, Bangladesh or Italy, which account for half of UK imports. Germany and Myanmar follow at similar levels. Major beneficiaries of UK swimwear imports United Kingdom, ****, in percent Source: UN Comtrade In terms of exports, British swimwear goes first to Germany and Ireland, which receive almost **% of British exports, followed by France, Belgium, and Spain. Major beneficiaries of British swimwear exports United Kingdom, ****, in percent Source: ****
2 Analysis of the demand
2.1 Consumer profile
The female segment represents a significant portion of the swimwear market. The following graph shows that women are slightly over-represented among those who say they swim more than twice a week.
Breakdown of UK Fortnightly Swimmers England, ****-**, in percent Source: ****
Favourite places of swimming of the English swimming outdoors England, ****, in millions of people Source: ****
Bikinis alone account for a significant proportion of women's swimwear. However, there are several types of bikini tops and bottoms whose popularity in spring **** among British women is represented in the following charts.
For tops, triangle cuts are the most popular with more than half of the sales. This is followed by bandeau cuts and cropped tops. Bralette tops account for a very small share of bikini top sales.
Bikini top styles in the UK United Kingdom, Spring ****, in percent Source: ****
There are then five different types of bikini bottoms. Full coverage briefs and high-waisted briefs together account for almost **% of sales. Thongs are still more popular than high-cuts and knotted bottoms. Bikini bottom styles in the UK UK, Spring ****, in percent Source: ****
2.2 Significant seasonality of demand
The results shown in the graph below reflect the proportion of searches for a given keyword in a specific region and time period, relative to the region with the highest usage of that keyword (***). Thus, a value of ** means that the keyword was used half as often in the region and time period in question, and a value of * means that there is insufficient data for that keyword.
The seasonality of the swimwear market is thus highlighted and is reflected by an explosion in sales during the months of June, July and August. This graph shows a peak of interest during these months with a strong decrease in the number of searches during the winter period.
Search interest for the term "swimwear" United Kingdom, ****-****, in index *** = maximum Source: ****
2.3 A decrease in demand accentuated by the health crisis
The following graph shows the evolution of British households' spending on clothing from **** to ****. It shows that they are reducing their spending on clothing since **** with a *% decrease from **** to ****.
Evolution of clothing expenditure by British households United Kingdom, ****-****, in millions of pounds Source: ****
The swimwear market has also been slowed down by the health crisis, as shown in the following graph, which represents the interest in the search "swimwear" on Google. The values are between * and ***. While *** represents the moment when the number of searches for this term was the highest, another value represents the interest in this search proportionally to the moment when it reached its maximum.
We can indeed see that swimwear has attracted much less interest in **** than in ****, and especially from March onwards where we start to see a real difference between the two years. Despite a difficult start to ****, interest showed an increase from April onwards compared to ****.
Search interest for the term "swimwear" United Kingdom, ****-****, in index *** = maximum Source: Google Trends This deceleration is also linked to the decrease in the number of British swimmers. Indeed, the following graph estimates the volume of swimmers throughout the years ****-** and ****-**. The decrease ...
3 Market structure
3.1 Globalized production
The diagram below describes the different stages of the ready-to-wear value chain as it applies to the swimwear market. Using raw materials, textile producers manufacture and supply these textiles to swimwear producers. These producers make collections of products that are then distributed through various channels to end users, namely British men and women.
Source: ****
The production of clothing distributed in the UK is mostly subcontracted by market players and concentrated abroad. This relocation is explained by the lower production costs and the specialization that some countries have acquired. **% of clothing sold in Europe is located on the Asian continent, particularly in China, India or Pakistan. [***]
3.2 The distribution of swimwear
In the UK, the main distribution channels for swimwear are:
Sports retailers: Nike, SportsDirect, JD Sports Ready-to-wear retailers with swimwear lines: Specialized swimwear and lingerie brands: Calvin Klein, Etam, Calzedonia, Triumph International Generalist ready-to-wear brands: Argos, Next Retail, H&M, Boden Specialist swimwear brands: Hunza G, Faithfull the brand, Vilebrequin, Fisch Digital pure-players: Amazon, Asos Grocery stores: Sainsbury's, Morrison's
Although data specific to swimwear sales are difficult to access, we can nevertheless extend the swimwear market to the textile and clothing market and observe the distribution by size of wholesale and retail companies. We can see that in both cases, the majority of companies are small, with a very small population of companies with more than ** employees.
Distribution of UK Clothing and Textiles Firms United Kingdom, ****, in percent Source: ****
Trends in weekly clothing spending by UK households United Kingdom, ****-****, in pounds sterling Source: ****
3.3 The digitalization of the market
Like the entire clothing market, online shopping and the overall influence of the Internet is developing rapidly
Indeed, an important specificity of the British consumer compared to its European neighbors is its pronounced taste for online shopping. Thus, British retailers offer delivery of clothing products, which makes it possible to order swimwear online.
The following graph shows the evolution of the proportion of online sales in the overall retail trade in the UK. There has been a steady increase since **** with a sharp rise of **% in the first half of **** corresponding to the start of the health crisis. After a peak in the first half of ****, the share of online sales has been declining, probably due to the progressive reopening of physical stores.
Evolution of the online share of retail sales in the UK United Kingdom, ****-****, in percent Source: Office for National Statistics The weight of the internet in the market is also reflected in the growing influence of social networks, advertising and other specialized media. Players can thus capitalize on the growing influence of digital tools that are proving effective in transmitting a brand image and making it visible to the greatest number of people.
4 Analysis of the offer
4.1 Types of products
Materials, cuts, colors, fabrics and trends are the different parameters and criteria essential to the manufacture of a swimsuit.
Evolving over time, the swimsuit has undergone many changes according to fashion, the evolution of our society and sports performance.
We can distinguish the following different products:
The one-piece swimsuit: More or less indented, crossed straps, adapted to the silhouette for swimming; for a few years, it has imposed itself as a trendy piece to be worn also at the beach in a strapless version or with more fantasies. The two-piece swimsuit: Triangle top, balconette, bandeau or underwired, it can double down as a bra for women along with a panty bottom or a thong. The trikini: A real trend and more suitable for the beach, this one-piece swimsuit is connected by a strip of fabric across the belly. The tankini: This swimsuit is composed of two pieces, the top of which is a tank top that can be slimming and more covering. The wetsuit: This swimsuit is more popular with regular swimmers but has been banned from competitions since ****. It is knee-length or ankle-length. This swimsuit has more elasticity, flexibility and resistance. Jammer: Long compression shorts, similar to cycling or running ...
4.2 Swimsuit prices
The following table gives a range of prices for different types of swimsuits in several retail stores.
Source: ****
6 Positioning of the actors
6.1 Segmentation
- Nike
- Calvin klein
- Etam Lingerie
- Amazon UK
- Asos
- Argos Ltd
- Next Retail
- Hunza G
- Faithfull the Brand
- Fisch
- JD Sport
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