Men Swimwear Market

The article discusses the projected decrease in men swimwear market volume and value over the next eight years. It explores trends in consumption, production, imports, and exports of men's swimwear globally. Key findings include the highest consuming countries, production rates, import prices, export destinations, and price trends. Overall, the data indicates a shift in the market dynamics for men's swimwear, with notable fluctuations in consumption and production patterns.

Market Forecast

The men swimwear market is expected to start a downward consumption trend over the next eight years. The performance of the market is forecast to decrease slightly, with an anticipated CAGR of -0.2% for the eight-year period from 2022 to 2030, which is projected to depress the market volume to 332M units by the end of 2030.

In value terms, the market is forecast to contract with an anticipated CAGR of +2.2% for the period from 2022 to 2030, which is projected to bring the market value to $2.9B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Men’s Swimwear (Excluding Of Knitted Or Crocheted Textiles)

After two years of decline, consumption of men’s swimwear (excluding of knitted or crocheted textiles) increased by 14% to 337M units in 2022. Over the period under review, the total consumption indicated temperate growth from 2012 to 2022: its volume increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, global consumption hit record highs at 350M units in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

The global men swimwear market value totaled $2.5B in 2022, increasing by 10% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, the total consumption indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the global market attained the peak level at $2.6B in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were the United States (62M units), China (39M units) and India (21M units), with a combined 36% share of global consumption. Japan, Mexico, the UK, Brazil, Pakistan, France, Italy, Spain, Germany and Nigeria lagged somewhat behind, together accounting for a further 23%.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by Nigeria (with a CAGR of +10.3%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($289M), China ($180M) and Japan ($162M) were the countries with the highest levels of market value in 2022, together accounting for 26% of the global market. India, Brazil, France, Germany, the UK, Mexico, Italy, Pakistan, Spain and Nigeria lagged somewhat behind, together comprising a further 25%.

In terms of the main consuming countries, Nigeria, with a CAGR of +10.0%, saw the highest rates of growth with regard to market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of men swimwear per capita consumption in 2022 were the United States (184 units per 1000 persons), Spain (141 units per 1000 persons) and the UK (122 units per 1000 persons).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by Spain (with a CAGR of +8.9%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Men’s Swimwear (Excluding Of Knitted Or Crocheted Textiles)

In 2022, the amount of men’s swimwear (excluding of knitted or crocheted textiles) produced worldwide reached 310M units, almost unchanged from 2021. In general, the total production indicated a tangible expansion from 2012 to 2022: its volume increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +1.7% against 2020 indices. The pace of growth appeared the most rapid in 2018 with an increase of 46% against the previous year. Global production peaked at 346M units in 2019; however, from 2020 to 2022, production remained at a lower figure.

In value terms, men swimwear production amounted to $2.4B in 2022 estimated in export price. Overall, the total production indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -10.0% against 2019 indices. The growth pace was the most rapid in 2018 with an increase of 35%. Global production peaked at $2.6B in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Production By Country

China (79M units) remains the largest men swimwear producing country worldwide, accounting for 25% of total volume. Moreover, men swimwear production in China exceeded the figures recorded by the second-largest producer, Bangladesh (31M units), threefold. The third position in this ranking was taken by India (21M units), with a 6.7% share.

In China, men swimwear production increased at an average annual rate of +2.5% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: Bangladesh (+4.9% per year) and India (+0.1% per year).

Imports

World Imports of Men’s Swimwear (Excluding Of Knitted Or Crocheted Textiles)

In 2022, the amount of men’s swimwear (excluding of knitted or crocheted textiles) imported worldwide surged to 164M units, increasing by 47% compared with the year before. Overall, imports posted resilient growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, men swimwear imports skyrocketed to $944M in 2022. Over the period under review, total imports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +8.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +55.5% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports By Country

The United States was the main importing country with an import of about 64M units, which recorded 39% of total imports. Italy (10M units) took the second position in the ranking, followed by the UK (8.7M units) and the Netherlands (7.8M units). All these countries together held approx. 16% share of total imports. Spain (7.2M units), Mexico (6.2M units), Germany (6M units), France (5.9M units), Australia (4.9M units), Canada (3.7M units), Chile (3.1M units), Poland (3M units) and Argentina (2.6M units) followed a long way behind the leaders.

Imports into the United States increased at an average annual rate of +12.7% from 2012 to 2022. At the same time, the Netherlands (+21.6%), Australia (+20.3%), Poland (+18.2%), Argentina (+18.1%), Germany (+14.5%), France (+11.4%), Mexico (+11.2%), Spain (+9.7%), Chile (+4.5%), the UK (+3.5%), Canada (+1.9%) and Italy (+1.5%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing importer imported in the world, with a CAGR of +21.6% from 2012-2022. From 2012 to 2022, the share of the United States, the Netherlands and Australia increased by +11, +3.2 and +1.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($293M) constitutes the largest market for imported men’s swimwear (excluding of knitted or crocheted textiles) worldwide, comprising 31% of global imports. The second position in the ranking was held by Italy ($67M), with a 7.1% share of global imports. It was followed by the UK, with a 5.6% share.

In the United States, men swimwear imports increased at an average annual rate of +11.6% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Italy (+3.7% per year) and the UK (+3.7% per year).

Import Prices By Country

In 2022, the average men swimwear import price amounted to $5.8 per unit, waning by -6.7% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 8.9%. Global import price peaked at $6.6 per unit in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Germany ($8.8 per unit), while Argentina ($3.2 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+3.9%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Men’s Swimwear (Excluding Of Knitted Or Crocheted Textiles)

In 2022, approx. 137M units of men’s swimwear (excluding of knitted or crocheted textiles) were exported worldwide; surging by 13% against the previous year's figure. Over the period under review, exports continue to indicate a strong increase. The pace of growth was the most pronounced in 2018 when exports increased by 52% against the previous year. Over the period under review, the global exports reached the peak figure in 2022 and are likely to see gradual growth in the immediate term.

In value terms, men swimwear exports skyrocketed to $882M in 2022. Overall, exports showed resilient growth. The pace of growth appeared the most rapid in 2021 with an increase of 26%. Over the period under review, the global exports attained the maximum in 2022 and are likely to see gradual growth in the immediate term.

Exports By Country

In 2022, China (40M units), distantly followed by Bangladesh (26M units), Vietnam (12M units), Indonesia (7.8M units) and Myanmar (6.5M units) were the largest exporters of men’s swimwear (excluding of knitted or crocheted textiles), together mixing up 67% of total exports. The following exporters - Cambodia (4.8M units), Turkey (4.5M units), the Netherlands (3.9M units), Italy (3.5M units), Germany (3.2M units) and Sri Lanka (2.3M units) - together made up 16% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Myanmar (with a CAGR of +73.3%), while the other global leaders experienced more modest paces of growth.

In value terms, the largest men swimwear supplying countries worldwide were China ($146M), Bangladesh ($91M) and Italy ($86M), together accounting for 37% of global exports. Vietnam, the Netherlands, Indonesia, Cambodia, Germany, Turkey, Myanmar and Sri Lanka lagged somewhat behind, together accounting for a further 38%.

Myanmar, with a CAGR of +49.7%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2022, the average men swimwear export price amounted to $6.4 per unit, rising by 4.5% against the previous year. Overall, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of 16%. As a result, the export price attained the peak level of $7.6 per unit. From 2016 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Italy ($25 per unit), while Bangladesh ($3.6 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+8.3%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform