PUBLISHER: Allied Market Research | PRODUCT CODE: 1179659
PUBLISHER: Allied Market Research | PRODUCT CODE: 1179659
The global rash guard market was valued at $9,138.5 million in 2021, and is projected to reach $12,736.0 million by 2031, registering a CAGR of 3.4%. Europe is estimated to reach $2,993.0 million by 2031, at a significant CAGR of 3.3%. Rash guard is the activewear product engaged in sports and fitness activities. It helps to enhance the performance of athletes, owing to its various advantages, such as enhanced grip, wicking function, and bistretchable characteristics. Extensive and unique advantages offered by activewear such as breathability, quick drying, static resistance, thermal resistance, and chemical resistance majorly drive the growth of the global rash guard market. In addition, rise in health-consciousness among consumers and increase in sports & fitness enthusiasm among customers boost the demand for activewear products. Moreover, rise in participation of consumers in sports activities fuels the sales of rash guard, which positively impacts the market growth. For instance, increase in participation of customers for fitness is leading to surge in sales of activewear shorts & t-shirts. Moreover, holistic approach of customers towards athleisure wear is positively impacting the overall market growth.
Furthermore, increase in fitness and sports consciousness among young generation and upsurge in disposable income are some of the notable factors that support the market growth. However, volatile cost of raw materials and high cost of designing result in excessive cost of the final product, thereby declining sales of activewear among price-sensitive consumers.
Likewise, availability of counterfeit brands causes inconvenience and safety issues for customers, which adversely impact the market growth. On the contrary, growth in number of promotional activities is anticipated to create product and brand awareness, which accelerates the market growth. In addition, initiatives by various organizations such as rise in number of activewear-related campaigns and programs are presumed to expand the consumer base. Moreover, development of green textile and its use in formulation of activewear is expected to attract green consumers, which is anticipated to provide lucrative opportunities for the market expansion.
The rash guard market is segmented on the basis of type, application, end user, price point, distribution channel, and region. By type, the market is classified into t-shirt, shirts, and shorts. On the basis of application, it is bifurcated into swimming, running, diving, and surfing. According to end user, it is segregated into men and women. By price point, the market is segmented into mass and premium. By distribution channel, the market is segmented into online and offline channel. Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, Belgium, Netherland, Russia, and rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea, Thailand, Indonesia, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, UAE, South Africa, Saudi Arabia, Chile, and rest of LAMEA).
The key players profiled in this report include:, TYR sport Inc., O' Neill, Roxy, Quicksilver, Sportstar athletics, Gap Inc., Dick's sporting good Inc., Skechers U.S.A Inc., Cranbarry Inc., Adidas AG, Asos PLC, H&M, Nike Inc., Puma SE, Ralp lauren corporation, Under armour Inc., Coloumbia sportswear, and wildcraft.
Key Benefits For Stakeholders
By Type
By Application
By End User
By Price Point
By Distribution Channel
By Region