Wetsuit Market Size Worth $5.39 Billion By 2032 | CAGR: 8.4%

The global wetsuit market size is expected to reach USD 5.39 billion by 2032, according to a new study by Polaris Market Research. The report “Wetsuit Market Share, Size, Trends, Industry Analysis Report, By Products (Hooded, Full, Convertible, Sleeveless, Shortly/Spring, Others); By Thickness; By Application; By End-Use; By Region; Segment Forecast, 2023 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

A wetsuit is typically made of neoprene, a synthetic rubber material. It is designed to provide thermal insulation and protection to individuals participating in water sports and activities. Wetsuits are commonly used in surfing, diving, snorkeling, paddle boarding, and other water-based sports.

The main purpose of a wetsuit is to keep the wearer warm in cold water environments by trapping a thin layer of water between the skin and the wetsuit material. This layer of water is warmed by the wearer's body heat, creating an insulating barrier that helps to retain warmth. The neoprene material also provides some protection against abrasions and minor impacts.

The market's growth is primarily fueled by the increasing participation in water-based sports and the development of inland surfing facilities. This trend presents significant growth opportunities for the industry, particularly in emerging countries like Japan. In line with this, the Japan Coast Guard launched a dedicated website in August 2021 to enhance safety knowledge for individuals engaging in water sports. It aims to prevent accidents and promote a safer environment. In 2020, out of the 1,172 reported accidents, 419 involved vessels experiencing motor or technical breakdowns. The coast guard believes regular inspections could have prevented many of these incidents.

Additionally, Japan showcased its distinctive water polo style during the Tokyo Olympics. In the men's water polo tournament, the host country adopted a strategy similar to the playing style of big, powerful destroyers. They employed an energetic, pressing defense and relied on something other than a dominant center player. Japan's approach involved constant movement and agility, mirroring worldwide tactics. The team emphasized swimming more than any other competitor, aiming to create disruptions and exhaust their opponents over time.

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In the wake of Japanese athletes' remarkable achievements at the Tokyo Olympics, the Sports Agency of Japan has unveiled plans to build national training centers (NTCs) specifically designed for sport climbing, skateboarding, BMX freestyle park, and surfing. This strategic move aims to capitalize on the increasing popularity of water-based activities in Japan, benefitting the industry.

Regarding market segmentation, the female segment holds the dominant share in the global market. As more women actively participate in water sports, there is a corresponding rise in the demand for wetsuits. This trend is expected to continue, due to a significant increase in the market for plus-size wetsuits to accommodate the growing number of women engaged in water activities.

Wetsuit Market Report Highlights

• In 2022, the full-sleeve segment has accounted for the highest market share. Full-sleeve wetsuits provide greater coverage and protection, and enhanced coverage helps to keep the wearer warmer in colder water temperatures and offers additional insulation against the elements. It provides added flexibility and range of motion, improving performance and comfort during surfing, diving, or swimming activities.
• In 2022, the surfing segment accounted for the largest market share in the wetsuit industry due to surfers' widespread use of wetsuit apparel. Wetsuits are essential for surfers as they provide warmth and protection, enabling them to surf comfortably throughout the year.
• In 2022, North America held the largest revenue share in the wetsuit market. North America has a well-developed and mature market for outdoor and adventure sports. The region has a strong presence of established and reputable wetsuit manufacturers, retailers, and distribution channels. This robust infrastructure facilitates the availability and accessibility of wetsuits to consumers, further driving sales and revenue.
• The global key market players include Some major global players operating worldwide include Pittasoft, Rip Curl, Hyperflex Wetsuits, Helly Hansen, O’Neill, Shieco Group, Isurus, Carapace Wetsuits, Patagonia, Typhoon, Aqua Lung, Quiksilver, Arena Italia SPA, and Glidz Wetsuits, others.

Polaris Market Research has segmented the wetsuit market report based on product, thickness, application, end-use, and region:

Wetsuit, Product Outlook (Revenue - USD Billion, 2019 - 2032)

• Hooded
• Full-sleeve
• Convertible
• Sleeveless
• Shortly/Spring
• Others

Wetsuit, Thickness Outlook (Revenue - USD Billion, 2019 - 2032)

• 1mm-2mm
• 1mm-3mm
• 1mm-4mm
• 1mm-5mm
• > 5mm

Wetsuit, Application (Revenue - USD Billion, 2019 - 2032)

• Surfing
• Scuba Diving
• Triathlon
• Others

Wetsuit, End-Use (Revenue - USD Billion, 2019 - 2032)

• Male
• Female
• Kids

Wetsuit, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia

• Latin America

• Argentina
• Brazil
• Mexico

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa

Wetsuit Market Report Scope