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The stand-up paddleboard market size is estimated to grow by USD 184.63 million accelerating at a CAGR of 8.53% between 2022 and 2027. The growth of the market depends on several factors such as the growing adoption of surfing in adventure tourism, the increasing number of surfing contests, and the growing use of SUP for yoga and other leisure activities.
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This stand-up paddleboard market report extensively covers market segmentation by Distribution Channel (sports goods retailers, department stores, and online retailers), Product (inflatables and hardboards), and Geography (North America, Europe, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 - 2021.
The sports goods retailers segment will account for a major share of the market's growth during the market growth. This distribution channel involves companies that deliver their products through sports specialty stores, vendor-specific showrooms, and rental stores. Growing customer inclination toward the touch-and-feel experience in shopping has been driving the growth of sports specialty stores and vendor-specific showrooms.
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The sports goods retailers segment was valued at USD 153.92 million in 2017 and continued to grow until 2021. Another benefit of this segment is that trained staff can help fix queries regarding the usage of a product that some customers may face while deciding on a purchase. This factor differentiates sports goods retailers from online retailers, where buyers must depend on the information provided by the product description or from the department store, whose staff may only know about product basics. Specialized SUP retailers face considerable challenges as sales are seasonal and substantial inventory must be maintained throughout the year, even if sales are restricted. Advanced preference to shop SUP from sports goods retailers will positively influence the growth of the market in focus during the forecast period.
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North America is estimated to contribute 43% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The Stand-up paddleboard (SUP) market in North America has experienced significant expansion, propelled by various factors. These include a growing enthusiasm for recreational sports, an increasing influx of both international and domestic tourists, the rapid expansion of surfing championships and events, and the presence of well-established companies in the industry. The surging popularity of diverse water sports, particularly surfing, is fueling the demand for SUPs in the United States. Furthermore, the rise in inbound tourism is a key driver for surfing, subsequently boosting the demand for SUPs in the country. A growing number of individuals are transitioning from traditional ocean paddling or surfing to engaging in recreational activities such as SUP yoga, exercises, and adventure sports. This evolving trend is expected to generate heightened interest in SUPs throughout the forecast period, thereby contributing to the overall growth of the SUP market in North America.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Aqua Leisure Recreation LLC - The company offers stand-up paddleboard through its subsidiary Airhead Sports Group such as Fiberglass Paddle For Stand Up Paddleboard.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Stand-up Paddleboard Market Scope |
|
Report Coverage |
Details |
Page number |
159 |
Base year |
2022 |
Historic period |
2017 - 2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.53% |
Market growth 2023-2027 |
USD 184.63 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
8.0 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 43% |
Key countries |
US, Canada, Australia, France, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Aqua Leisure Recreation LLC, Boardworks Surf and Sup., C4 Waterman, Cascadia Board Co., Goodhill Co. Ltd., Hobie Cat Co., Imagine Nation Sports LLC, LAIRDSTANDUP, Mistral Red Dot Division B.V., Naish International, Neil Pryde Ltd., RAVE Sports, Red Paddle Co. Ltd., Starboard, SUP ATX LLC, SurfTech LLC, Tahe Outdoors France SASU, Tower, Wenonah Canoe, and NRS Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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