Wetsuit Market Size, Share & Trends Analysis Report By Product (Wind Sports, Surfing, Scuba Diving, Triathlon), By Region (North America, Europe, Asia Pacific, Latin America, MEA), And Segment Forecasts, 2023 - 2030

Wetsuit Market Size, Share & Trends Analysis Report By Product (Wind Sports, Surfing, Scuba Diving, Triathlon), By Region (North America, Europe, Asia Pacific, Latin America, MEA), And Segment Forecasts, 2023 - 2030

Wetsuit Market Growth & Trends

The global wetsuit market size is expected to reach USD 2.13 billion by 2030, registering a CAGR of 5.8%, according to a new study by Grand View Research Inc. Wetsuit refers to a garment typically prepared from foamed neoprene, which is worn by sailors, divers, surfers, and other individuals engaged in water sports, providing buoyancy, abrasion resistance, and thermal insulation. Various applications of wetsuits include water sports activities such as whitewater rafting, surfing, sailing, diving, and sea rescue operations.

The growth prospects for this market are bullish due to increase in water sports and recreational activities such as surfing, diving, and water skiing. Developing economies have been experiencing a rise in life expectancy. People with better standards of living are more prone to stay active longer and invest in premium quality sports goods.

The rise in the number of women participating actively in water sports has led to a significant increase in the wetsuits demand across the globe. The number of female surf participants across coastal regions has increased considerably over the past few years. Rise in e-commerce, growing demand for women wetsuits, and increased disposable income are projected to drive wetsuits market over the forecast period.

However, increased adoption of dry suits over wet suits owing to benefits such as warmth, safety, added weight, cost of ownership, and versatility in application is presumed to challenge the industry growth.

Wetsuit Market Report Highlights

• The surfing wetsuit segment accounted for the largest revenue share of 38.3% in 2022. Wetsuit apparel improves the experience for seasonal surfers and makes the sport more convenient for the global population.
• The wind sports segment is expected to grow at the fastest CAGR of 7.7% during the forecast period. Wind sports encompass a range of activities, such as windsurfing, kiteboarding, and sailing, which rely on wetsuits for protection and enhanced performance.
• Asia Pacific is expected to grow at the fastest CAGR of 9.0% during the forecast period. The growth of wetsuit apparel can be attributed to a growing inclination towards water and wind-based sports activities and associated events.

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