Portland, OR, Nov. 17, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global rash guard market generated $9.1 billion in 2021, and is projected to reach $12.7 billion by 2031, growing at a CAGR of 3.4% from 2022 to 2031. The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $9.1 billion |
| Market Size in 2031 | $12.7 billion |
| CAGR | 3.4% |
| No. of Pages in Report | 372 |
| Segments Covered | Type, application, end-user, price point, distribution channel, and region |
| Drivers | Increase in consumer spending |
| Surge in the number of fitness and sports enthusiasts | |
| Opportunities | Rise in obese population across the globe |
| Improvements in fashion and materials of clothes | |
| Restrains | Extortionate cost |
| Presence of counterfeit activewear |
COVID-19 Scenario:
- The COVID-19 pandemic had a negative impact on the growth of the global rash guard market, owing to the presence of lockdowns in various countries around the world that resulted in large-scale disruption in supply chain and distribution channels.
- The pandemic led to adverse effects on the apparel industry, including manufacturers as well as raw material suppliers. Government instructions to close down manufacturing plants, store closures, event cancellations hampered the market growth.
- In addition, further lockdowns led to manufacturing issues, such as lack of fabric availability and order cancellations.
- On the other hand, brands are strengthening their online presence since there has been a significant shift in consumer purchasing pattern, inclining toward e-commerce retail. Thus, the market is expected to recoup with the growth of the e-commerce platforms and eased lockdowns restrictions.
The report offers detailed segmentation of the global rash guard market based on type, application, end-user, price point, distribution channel, and region. The report provides a comprehensive analysis of every segment and their respective sub-segment with the help of graphical and tabular representation. This analysis can essentially help market players, investors, and new entrants in determining and devising strategies based on fastest growing segments and highest revenue generation that is mentioned in the report.
Based on type, the t-shirt segment held the dominating market share in 2021, holding more than half of the global rash guard market, and is expected to maintain its leadership status during the forecast period. The shirt segment, on the other hand, is expected to cite the fastest CAGR of 3.7% during the forecast period.
Based on application, the swimming segment held the dominating market share in 2021, holding nearly two-fifths of the global rash guard market, and is expected to maintain its leadership status during the forecast period. The surging segment, on the other hand, is expected to cite the fastest CAGR of 4.2% during the forecast period.
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Based on end-user, the men segment held the dominating market share in 2021, holding nearly three-fourths of the global rash guard market, and is expected to maintain its leadership status during the forecast period. The women segment, on the other hand, is expected to cite the fastest CAGR of 4.1% during the forecast period.
Based on region, the market across North America held the dominating market share in 2021, holding more than two-fifths of the global rash guard market, and is expected to maintain its leadership status during the forecast period. The Asia-Pacific region, on the other hand, is expected to cite the fastest CAGR of 3.9% during the forecast period. The report also analyses other regions such as Europe and LAMEA.
The report also analyses key players of the global rash guard market 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, Nike Inc, Puma SE, Ralp Lauren Corporation, Under Armour Inc, Coloumbia Sportswear, Wildcraft, Hennes and Mauritz AB.
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The report analyzes these key players in the global rash guard market. These market players have made effective use of strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their foothold and prowess in the industry. The report is helpful in analyzing recent developments, product portfolio, business performance and operating segments by prominent players in the market.
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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