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The portable kayaks market size is estimated to grow at a CAGR of 1.66% between 2023 and 2028. The market size is forecast to increase by USD 10.24 million. The growth of the market depends on several factors such as the growing preference for recreational kayaking, the increasing number of paddle sports contests, and the rising interest in soft adventure sports activities.
This portable kayaks market report extensively covers market segmentation by product (inflatable kayaks and folding kayaks), distribution channel (sports goods retailers, department stores/hypermarkets and supermarkets, online retail, and others), 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 2018-2022.
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Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Growing preference for recreational kayaking is the key factor driving market growth. Adventure tourism contains a wide range of sports activities, such as kayaking, rafting, and trekking. Countries such as Australia, South Africa, Brazil, the US, and Mexico are suitable kayak surfing destinations. Participants choose to kayak, as it allows them to exercise outdoors while socializing with friends and family.
Furthermore, established players present a wide range of portable kayaks. For example, Advanced Elements Inc. (Advanced Elements), BIC Sport, and Oru Kayak are some of the prominent players that offer a variety of portable kayaks for touring, recreational, and racing purposes. Such increased portable kayak offerings for racing and recreational activities will drive the growth of the global portable kayaks market during the forecast period.
Rising demand for distribution through online channels and retailers is the primary trend shaping market growth. Boosting online marketing activities offers buyers comfortable access to products. E-commerce platforms, such as Alibaba, Amazon, and IndiaMart, sell kayaks and canoes and their accessories. Discounts and offers on canoes and kayaks provided by online retailers attract consumers to buy products in bulk. This is expected to increase the online purchases of canoes and kayaks by consumers.
In addition, many sporting goods retailers sell their canoes and kayaks online. Moreover, the ease of purchasing products and the reduced chances of buying defective goods are boosting the online sales of kayaking equipment. Such factors are expected to drive the growth of the global portable kayaks market in the forecast period.
High costs of kayaks lead to a higher preference for rentals is a challenge that affects market growth. Kayaks are fairly high priced, and this associated price with kayaking tends to restrict the potential market growth, especially among people engaging in kayaking casually. The average cost of quality kayaks can be more than USD 1,500. Moreover, casual stand-up kayaking enthusiasts tend to rent kayaks instead of buying them, which further hinders their growth.
Furthermore, rental services are usually cost-effective for buyers, as they pay for kayaks on an hourly basis. This is more economical than buying portable kayaks and their accessories. This is expected to limit the volume of sales of new portable kayaks, which will impede the growth of the global portable kayaks market to a certain extent in the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Portable Kayaks Market Customer Landscape
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.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 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.
The inflatable kayaks segment is estimated to witness significant growth during the forecast period. There are no rigid components to the inflatable kayaks, and their weight is often reduced. They're smaller than a folding kayak so they can be folded. Inflatable kayaks, on the other hand, can be set up far more rapidly compared to folding kayaks.
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The inflatable kayaks segment was the largest segment and was valued at USD 101.13 million in 2018. Moreover, a few inflatable kayaks also include the feature of intercommunicating valves, which help reduce the effect of any puncture. Therefore, the several benefits associated with inflatable kayaks are anticipated to drive the growth of the global portable kayaks market in this segment 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 growing interest in recreational sports activities, the rising number of overseas and domestic tourists, quick growth in kayak surfing championships and events, and the presence of prominent market players are the key factors driving the growth of the portable kayaks market in North America. Furthermore, an increasing number of people are switching to recreational activities, such as kayaking exercises and adventure sports activities, from using portable kayaks for ocean paddling. This trend is anticipated to drive the growth of the market during the forecast period.
The outbreak of COVID-19 in 2020 had a negative impact on the portable kayaks market growth in North America. However, in 2021, the initiation of large-scale vaccination drives?lifted the lockdown and travel restrictions, which led to the resumption of outdoor recreational activities like kayaking. Hence, such factors are expected to drive the market during the forecast period.
The portable kayaks market report forecasts market growth by revenue at global, regional & country levels and analyzes the latest trends and growth opportunities from 2018 to 2028.
Portable Kayaks Market Scope |
|
Report Coverage |
Details |
Page number |
159 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 1.66% |
Market growth 2024-2028 |
USD 10.24 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
1.18 |
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, Italy, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
AIRE Inc., Aqua Marina, Aqua Xtreme, BIG Adventures LLC, Gumotex Group, Hangzhou Kudo Outdoors Inc., HYSIDE Inflatables, Klepper Lifestyle GmbH, Long Haul Folding Kayaks, NAUTIRAID, Nova Craft Canoe, Oru Kayak Inc., Pelican International Inc., Point 65 Sweden AB, Sea Eagle Boats Inc., Tahe Kayaks OU, TRAK Outdoors Ltd., WAKA KAYAKS, WATER SPORT EQUIPMENT GROUP, and Perception Kayaks |
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, and Market condition analysis for the 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. |
We can help! Our analysts can customize this market research report to meet your requirements.
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