The global rash guard market revenue was around US$ 9.4 billion in 2022 and is estimated to reach US$ 12.7 billion by 2031, growing at a compound annual growth rate (CAGR) of 3.4% during the forecast period from 2023 to 2031.
A rash guard is an athletic shirt made of nylon or polyester and nylon. The rash guard products shield the wearer against rashes caused by sunburn from extended exposure to the sun or by abrasion.
Factors Influencing Market Growth
- The rise in the adoption of athleisure wear as work or streetwear pushes the growth of the overall rash guard market.
- Customization options and fashionable designs in athleisure activewear supplement the growth of the rash guard market.
- An inflated cost of designing and the volatile cost of raw materials led to the high cost of the final product which hinders the sales of the product among price-sensitive customers and limits the growth of the rash guard market.
- The representation of products by well-known celebrities and athletes is expected to provide lucrative opportunities for the rash guard market growth.
Impact of COVID-19
The COVID-19 pandemic had an unavoidable effect on the clothing industry, including manufacturers and raw material suppliers. Government instructions to close down manufacturing factories, event cancellations, store closures, and further lockdowns, led to manufacturing issues, like order cancellations and lack of fabric availability which led to the downfall in the rush guard market.
Regional Analysis
In 2022, North America was the prominent region in the rash guard market in terms of revenue because of the largest obese population and the highest consumer spending on activewear products.
Asia-Pacific is expected to rise in the rash guard market, owing to the rise in average caloric intake per individual among middle-class and high-income households, which leads to higher obesity rates among individuals.
Leading Companies
The leading prominent companies profiled in the global rash guard market are:
- 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
- H&M
- Nike Inc.
- Puma SE
- Ralph Lauren Corporation
- Under Armour Inc.
- Coloumbia Sportswear
- Wildcraft
- Other prominent key players
Segmentation Outline
The global rash guard market segmentation focuses on Type, Application, End User, Price Point, Distribution Channel, and Region.
Segmentation based on Type
- T-Shirt
- Shirt
- Shorts
Segmentation based on Application
- Swimming
- Running
- Diving
- Surfing
Segmentation based on End User
- Men
- Women
Segmentation based on Price Point
- Mass
- Premium
Segmentation based on Distribution Channel
- Online
- Offline
Segmentation based on Region
- North America
- The U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Netherlands
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Singapore
- Rest Of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa