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Wetsuits are garments that are typically worn by divers, swimmers, canoeists and individuals engaging in water sports and activities.
SHERIDAN, WYOMING, UNITED STATES, November 11, 2022 / / -- 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 . 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.
Wetsuit refers to garments worn by swimmers, canoeists, divers, and other individuals who engage in water sports and related activities. They can be of numerous types, such as hooded convertible, sleeveless, spring, etc. These wetsuit variants are made using foamed neoprene bubbles that offer thermal insulation, buoyancy, and abrasion resistance to the user. They assist in retaining the body heat and preventing the condition of hypothermia under water. Wetsuit products even protect against bruises and cuts from rocky reefs and jellyfish stings. Consequently, they find extensive applications in surfing, scuba diving, triathlon, etc.
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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 growing participation in water-based sport activities and the increasing number of inland surfing grounds across countries are primarily driving the wetsuit market. In addition to this, the development of eco-friendly wetsuits, which are designed utilizing natural rubber and water-based glue by leading manufacturers, is also positively influencing the market growth. Apart from this, the inflating investments in research and development (R&D) activities focusing on creating green wetsuits from recycled plastics, water bottles, fishing nets, etc., are acting as significant growth-inducing factors. In line with this, the introduction of innovative shark-repellant wetsuits integrated with a specialized shark attack mitigation system (SAMS) that camouflages the diver employing disruptive coloration and projects him or her as a potential threat to the carnivore is further stimulating the global market. Moreover, the launch of various favorable policies by government bodies aimed at promoting health management through surfing and diving activities is expected to bolster the wetsuit market in the coming years.
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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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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
Elena Anderson
IMARC Services Private Limited
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