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Wetsuit Market By Based on Product Type (Full Suits, Spring Suits, Tops, Bottoms, Rash guards); Based on Thickness (1 mm – 2 mm, 2 mm – 3 mm, 3 mm – 4 mm, 4 mm – 5 mm, Greater than 5 mm); Based on Sales Channel (Sports Variety Stores, Third Party Online Channel, Direct-to-Customer Channel, Franchised Stores, Modern Trade Channels, Sports Retail Chains, Sports Variety Stores); Based on Demographics (Men, Women, Kids); By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Market Analysis, Trends, Opportunity and Forecast, 2022-2032

Global Wetsuit Market Insights

The global wetsuit market size was valued at around USD 1.9 billion in 2022 and is projected to grow at a compound annual rate of growth (CAGR) of around 7.4% from 2022 to 2032.The market size is projected to succeed in USD 3.9 billion by 2032.

KD Market Insights added a title on “Wetsuit Market – 2023-2032” to its collection of industry research reports that offers extensive and highly detailed current and future market trends in the global and regional/market. The report includes market size, Y-O-Y growth analysis and structure of the overall industry based on a unique combination of industry research, fieldwork, market sizing analysis, and our in-house expertise.

The market research report demonstrates market dynamics which includes growth drivers, restraining factors and opportunities and trends spearheading current nature and future status of this market. Our general approach is to target several individuals with specific questions that we believed would satisfy our research objective. Further, to speed up the data collection process, we employed an online survey, delivered via email. The research team analyzed the results to identify potential opportunities and risks for the market.

In addition, the report offers recent industry activities and value chain analysis for the Wetsuit Market. Moreover, Porter’s Five Forces analysis demonstrates the five forces which include buyers bargaining power, suppliers bargaining power, the threat of new entrants, the threat of substitutes, and degree of competition in Wetsuit Market. Along with figures and tables, a market attractiveness and BPS analysis has been provided for every segment in the report.

Global Wetsuit Market Size & Forecast

The global wetsuit market was valued at USD 1.9 billion in 2022 and is expected to grow at a CAGR of 7.4% during the forecast period 2023-2032. The report analyses the market by geographies i.e. North America, Europe, Asia Pacific, Latin America & Middle East & Africa. Further, the geographies are fragmented into the country and regional groupings:

- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia and Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Taiwan, Australia, New Zealand and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, Argentina and Rest of Latin America)
- Middle East & Africa (GCC, North Africa, South Africa and Rest of Middle East & Africa)

Global Wetsuit Market Growth Drivers

Water sports fans may stay safe and comfortable while participating in their favourite activities in the water thanks to the expanding wetsuit market. Due to a number of growth-related factors, the wetsuit market is anticipated to expand significantly globally. Here are some of the main factors fueling the wetsuit market's expansion:

Growing Popularity of Water Sports: Swimming, surfing, and scuba diving have all seen increases in popularity in recent years. Wetsuits are now in greater demand as a result of this, as they offer the protection and insulation required for these activities.

An increase in spending on leisure activities, such as water sports, is a result of rising disposable income levels around the world. As more individuals engage in these sports, this has led to an increase in demand for wetsuits.

Wetsuit producers are constantly working to improve the comfort, flexibility, and robustness of wetsuits by creating new technologies and materials. Wetsuit demand has surged as a result of people looking for the newest and best products.

Growth of E-Commerce: Online wetsuit purchases have become simpler for customers as a result of e-commerce's expansion. Wetsuit purchases may now be made more easily by customers from the comfort of their homes thanks to online shops' ability to provide a larger selection of goods at affordable costs.

Environmental Concerns Are Being More Noticed: Customers are growing more ecologically aware and looking for sustainable items. Manufacturers of wetsuits are responding to this trend by creating eco-friendly wetsuits made of recycled materials, which are becoming more and more well-liked by customers.

Global Wetsuit Market Segmentation

The research offers a comprehensive analysis of global Wetsuit market with respect to following sub-markets:

Based on Product Type

- Full Suits
- Spring Suits
- Tops
- Bottoms
- Rash guards

Based on Thickness

- 1 mm – 2 mm
- 2 mm – 3 mm
- 3 mm – 4 mm
- 4 mm – 5 mm
- Greater than 5 mm

Based on Sales Channel

- Sports Variety Stores
- Third Party Online Channel
- Direct-to-Customer Channel
- Franchised Stores
- Modern Trade Channels
- Sports Retail Chains
- Sports Variety Stores

Based on Demographics

- Men
- Women
- Kids

Global Wetsuit Market: Competitive Landscape

The report also highlights the competitive landscape of the global Wetsuit market, market share and positioning of all the major players in the industry. The competitive landscape analysis provides detailed strategic analysis of the company’s business and performance such as company overview, financial information, revenue breakup by segment and by geography, SWOT Analysis, key facts, business strategy, key product offerings, marketing and distribution strategies, new product development, recent news (acquisition, expansion, technology development, research & development and other market activities).

The report includes profiles of leading companies in the global Wetsuit market. Some of the key players profiled include:

- Speedo International Ltd
- TYR Sports Inc
- Johnson Outdoors
- Billabong
- O’Neil, Inc
- Rip Curl
- Quicksilver Inc
- Arena Italia SPA
- C-Skins Wetsuits Ltd
- Other Major & Niche Key Players

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Booklet
  • Publication date: 8th January 2024
  • Base year: 2022
  • Forecast year: 2023-2033
  • Format: PDF, PPT,Word,Excel
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Frequently Asked Questions(FAQ)

A wetsuit is a garment designed to be worn by people engaged in water sports, such as surfing, diving, and swimming. It is made of neoprene material that provides insulation and buoyancy to the wearer.

The global wetsuit market was valued at USD 2.3 billion in 2021 and is expected to grow at a CAGR of 6.7% during the forecast period 2023-2032.

The key factors driving the growth of the wetsuit market include the increasing popularity of water sports, advancements in wetsuit technology, rising disposable income levels, and the growth of e-commerce.

The different types of wetsuits available in the market include full suits, shorty suits, spring suits, and rash guards. Full suits cover the entire body, while shorty suits and spring suits cover only the torso and arms. Rash guards provide sun protection and are worn underneath wetsuits.

The Asia Pacific region holds the largest market share in the wetsuit market due to the growing popularity of water sports in countries such as Australia and New Zealand.

The major players in the wetsuit market include O'Neill, Quiksilver, Rip Curl, Billabong, Patagonia, Xcel Brands, Body Glove International, and Huub Design.

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