Wetsuits Market Size, Share, Growth & Industry Trends [2031]

Segments - Wetsuits Market by Products (Surfing, Wind Sports, Scuba Diving, and Triathlon) and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031

Author : Debadatta Patel

Fact-checked by : PARTHA PAUL

Editor : Shruti Bhat

Report Description

The global wetsuits market size was valued at USD 1.29 billion in 2022 and is expected to surpass USD 2.12 billion by 2031, expanding at a CAGR of 5.7% during the forecast period, 2023–2031. The growth of the market is attributed to the increasing international events of water sports and high spending on recreational or outdoor sports activities.

A wetsuit is a type of special suit primarily designed for the use of explorers in deep sea. The suits are very thin layer of garment worn by divers, surfers, and swimmers, who spend more time in cold water. Although the suits are mostly designed as streamer that covers the whole body, some suits are available as spring suit that covers just some parts of the body.

Additional items such as jackets, hoods, and vests can be tailored to the suit to provide more comfort and for extra protection. One key feature of the suit is that it retains body heat during the swimming or diving in deep sea, which easily avoid the chance for hypothermia, a health condition of dangerously low body temperature. Neoprene, a type of rubber, is the key material used for manufacturing wetsuits, which allow to trap body heat even the swimmers are going deeper in the ocean.

The outbreak of COVID-19 pandemic had adversely affected the market due to movement restriction and sudden closure of beaches or recreational activities, imposed by emergency lockdown across countries. Moreover, many of the international water sport events had been postponed in a view to curb the virus spread.

Since the COVID-19 cases are rapidly subsiding across the globe, governments started allowing to open beaches and sea for recreational activities with certain limitation. This provides a key opportunity for the market to return back to its normal operation.

Market Trends, Drivers, Restraints, and Opportunities

Increasing awareness regarding the health benefits of outdoor sport activities and surge in sport tourism present key factors driving the market.
Favorable governments’ initiatives for encouraging water sports such as scuba diving and surfing sports to boost the income of the inhabitants near sea or beaches are anticipated to drive the market during the forecast period.
Rising demand for deep sea exploration and increasing number of people who love to explore aquatic life as shown in Geographic Channels are another key drivers of the market.
Limited use of the products as the diving and swimming require certain skill and good health condition acts as a major challenge that can restrain the market growth.
Rapid introduction of suits to ensure better experience for seasonal swimmers and surfers are creating immense growth opportunities of the market.

Scope of Wetsuits Market Report

The report on the global wetsuits market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes	Details
Report Title	Wetsuits Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Base Year	2022
Historic Data	2016–2021
Forecast Period	2023–2031
Segmentation	Products (Surfing, Wind Sports, Scuba Diving, and Triathlon)
Regional Scope	Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Report Coverage	Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report	Rip Curl; Shieco Group; O’Neill; Carapace Wetsuits; Quiksilver Inc.; Arena Italia SPA; Billabong; Pittasoft, Body Glove; Glidz Wetsuits; Glidz Wetsuits; and Aqua Lung

Wetsuits Market Segment Insights

Surfing segment is expected to grow at a rapid pace

Based on products, the global wetsuits market is divided into surfing, wind sports, scuba diving, and triathlon. The surfing segment is expected to grow at a rapid pace during the forecast period owing to wide popularity of surfing among several young adults and increasing several sports events based on surfing globally.

However, the wind sports segment is anticipated to hold a key share of the market in the coming years due to the acceleration of innovative wind sports models and introduction of safety gears for the use in wave parks and artificial waves.

North America to constitute a key market share

In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to constitute a key share of the market during the projected period owing to numerous events of water sports and wide establishment of novel technology for wave parks in the region.

Outdoor sport activities especially water sports are very popular in the US and various water sport events are organized in the country annually. However, the market of Asia Pacific is anticipated to register a high CAGR during the forecast period owing to increasing participations in surfing and other recreational activities such as scuba diving in countries of sea connected in the region such as Australia and Indonesia.

Segments

The global wetsuits market has been segmented on the basis of

Products

Wind Sports
Surfing
Scuba Diving
Triathlon

Regions

Asia Pacific
North America
Latin America
Europe
Middle East & Africa

Key Players

Rip Curl
Shieco Group
O’Neill
Carapace Wetsuits
Quiksilver Inc.
Arena Italia SPA
Billabong
Pittasoft
Body Glove
Glidz Wetsuits
Glidz Wetsuits
Aqua Lung

Competitive Landscape

Key players competing in the global wetsuits market are Rip Curl; Shieco Group; O’Neill; Carapace Wetsuits; Quiksilver Inc.; Arena Italia SPA; Billabong; Pittasoft, Body Glove; Glidz Wetsuits; Glidz Wetsuits; and Aqua Lung. Some of these players have adopted several strategies to link with giant e-commerce and retailers such as Amazon.com and eBay to expand their geographical reach and expand their consumer base worldwide.

Wetsuits Market Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Wetsuits Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Wetsuits Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Wetsuits Market - Supply Chain
  4.5. Global Wetsuits Market Forecast
     4.5.1. Wetsuits Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Wetsuits Market Size (000â€™ Units) and Y-o-Y Growth
     4.5.3. Wetsuits Market Absolute $ Opportunity
5. Global Wetsuits Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Wetsuits Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Wetsuits Demand Share Forecast, 2019-2026
6. North America Wetsuits Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Wetsuits Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Wetsuits Demand Share Forecast, 2019-2026
7. Latin America Wetsuits Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Wetsuits Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Wetsuits Demand Share Forecast, 2019-2026
8. Europe Wetsuits Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Wetsuits Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Wetsuits Demand Share Forecast, 2019-2026
9. Asia Pacific Wetsuits Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Wetsuits Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Wetsuits Demand Share Forecast, 2019-2026
10. Middle East & Africa Wetsuits Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Wetsuits Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Wetsuits Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Wetsuits Market: Market Share Analysis
  11.2. Wetsuits Distributors and Customers
  11.3. Wetsuits Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. Rip Curl
     11.4.2. Shieco Group
     11.4.3. O’Neill
     11.4.4. Carapace Wetsuits
     11.4.5. Quiksilver Inc.
     11.4.6. Arena Italia SPA
     11.4.7. Billabong
     11.4.8. Pittasoft
     11.4.9. Body Glove
     11.4.10. Glidz Wetsuits
     11.4.11. Glidz Wetsuits
     11.4.12. Aqua Lung