According to the latest report by IMARC Group, titled “Wetsuit Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on wetsuit market outlook. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global wetsuit market size reached US$ 1,215 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 1,700 Million by 2027, exhibiting a growth rate (CAGR) of 5.84% during 2022-2027.
Wetsuits are tightly fitted garments worn by surfers, swimmers, divers, canoeists, and other individuals who engage in water sports and related activities. They are made using foamed neoprene bubbles and are available in various styles and sizes. Wetsuits provide thermal insulation, buoyancy, and abrasion resistance. They also assist in retaining the body heat and keeping the wearer warm, thereby reducing the risk of hypothermia underwater. Wetsuits also aid in avoiding ultraviolet exposure and escaping stings from marine organisms.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Global Wetsuit Market Trends:
The increasing popularity of water-based sports activities is one of the key factors driving the wetsuit market. Apart from this, the introduction of novel technologies that create artificial waves and the expanding demand for inland surfing grounds are further stimulating the market growth. Moreover, manufacturers are extensively focusing on creating eco-friendly wetsuits using water-based glue and natural rubber as a substitute for neoprene. This, in turn, is acting as another significant growth-inducing factor. In line with this, the escalating popularity of green wetsuits, which are manufactured using recycled plastics, water bottles, fishing nets, etc., is augmenting the global market. Furthermore, numerous product innovations, such as the development of shark-repellant variants, which camouflage the user to portray them as a threat to the carnivore, are anticipated to fuel the wetsuit market over the forecasted period.
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Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
- O’Neill
- Billabong
- Rip Curl
- Body Glove
- Quiksilver
- Helly Hansen
- Boz Wetsuits
- Arena Italia SPA
- Hurley
- Patagonia
- Hyperflex Wetsuits
- Speedo
- GUL
- Typhoon
- Isurus
Wetsuit Market Segmentation:
Our report has categorized the market based on region, product type, thickness, end-user and application.
Market Breakup by Product Type:
- Hooded Wetsuits
- Full Wetsuits
- Convertible Wetsuits
- Sleeveless Wetsuits
- Shortly/Spring Wetsuits
- Others
Market Breakup by Thickness:
- 1mm-2mm
- 2mm-3mm
- 3mm-4mm
- 4mm-5mm
- 5mm
Market Breakup by End-User:
- Male
- Female
- Kids
Market Breakup by Application:
- Surfing
- Scuba Diving
- Triathlon
- Others
Market Breakup by Distribution Channel:
- Sport Variety Stores
- Third Party Online Channels
- Direct to Customer Channels
- Franchised Stores
- Modern Trade Channels
Market Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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