USD 1.35 billion
Report ID: SQSG30L2019 | Region: Global | Published Date: November, 2022 | Pages: 157
Global Stand-Up Paddle Board Market was valued at USD 1.35
billion in 2021 and it is expected to reach at USD 2.61 billion by 2028, at a
CAGR of 9.7% over the forecast period (2022-2028).
The stand-up paddleboard market is growing rapidly, with new companies entering the market every day. SUP is an incredibly versatile sport that can be enjoyed by people of all ages and fitness levels. It's a great way to get exercise and explore the water, and it's also widely adopted by people who want to avoid traditional Olympic swimming styles. Some of the biggest benefits of SUPing include the fact that it's relatively easy to learn, it's safe for beginners, and it has a low impact on the environment. Plus, consumers are opting for SUP as an easy way to stay connected with nature while enjoying some peaceful relaxation time.
Global Market Size
USD 1.35 billion
Largest Segment
Offline
Fastest Growth
Offline
Growth Rate
9.7% CAGR
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Global Stand-Up Paddle Board Market is segmented by Product Type, material, board type, length, application, End-users, and Sales Channel. By product type, the market is segmented into all-round, flatwater, race, and surf SUP board. By material, the market categorized into PVC, epoxy, fiberglass, and plastics. By board type, the market is segmented into Solid and inflatable SUP board. By sales channel, the stand-up paddle board market is segmented into offline and online stores.
Analysis by Board Type
By board type, inflatable sup boards are dominating the global stand-up paddle board market. Inflatable stand-up paddle boards (SUPs) have become extremely popular among consumers in recent years. There are many reasons for this, but the two main ones are that they are much more affordable than traditional SUPs and they are much easier to transport and store.
Traditional SUPs are made of hard materials like fiberglass or carbon fiber, which makes them very durable but also very expensive. Inflatable SUPs, on the other hand, are made of softer materials like PVC or nylon, which makes them much more affordable. And because they can be deflated and rolled up, they are much easier to transport and store.
Inflatable SUPs also have some advantages over traditional SUPs when it comes to performance. They tend to be more stable because of their lower center of gravity, and they track better in the water thanks to their longer length and wider width.
Analysis by Sales Channel
By Sales Channel, offline stores are dominating the stand-up paddle board market. There are a few reasons for this. First, buying a stand-up paddle board from an offline store allows the consumer to see and feel the product before making a purchase. This is important because a stand-up paddle board is a significant investment, and the last thing anyone wants to do is buy something online sight unseen only to have it arrive and not meet their expectations. Second, buying from an offline store gives the consumer the opportunity to speak with an expert about stand-up paddle boards - something that can be very helpful for someone who is new to the sport or considering making a purchase for the first time. Finally, in many cases, buying from an offline store will be cheaper than buying from an online retailer, especially if the Offline retailer offers discounts or promotions.
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There are a number of reasons why North America is the largest stand-up paddle board market. For one, the region has a large coastline that offers ample opportunities for paddle boarding. Additionally, there is a growing trend of people using paddle boards for fitness and recreation, which has helped to increase the popularity of the sport.
In addition to having a large coastline, North America also has many lakes and rivers that are ideal for paddle boarding. This means that there are plenty of locations where people can try out the sport and find somewhere that they enjoy paddling. Additionally, the weather in North America is generally conducive to paddle boarding, with warm summers and relatively calm waters making it possible to paddle board year-round in many parts of the region.
All of these factors have combined to make North America the largest stand-up paddle board market in the world. With so many opportunities to try out the sport and plenty of locations to enjoy it, it is no surprise that paddlers from all over the world are flocking to North America.
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Driver
There are a few key factors that have driven the recent growth in popularity of stand-up paddle boarding (SUP).
Restraint
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In the wake of millennials moving into larger apartments, and wanting to get active, there has been a boom in the stand-up paddle board market. Manufacturers are vying for this growing market by coming up with new and innovative designs. Some of the most popular brands include OBX, Volvoo, Aqua Boardz, and Stand-Up Paddleboards.
Now that there is a wider variety of brands available, it is hard for consumers to decide which one to buy. In line with this, manufacturers are trying to compete in the market by offering different types of boards and accessories. Some companies are focusing on making the board more versatile so that it can be used for different activities such as surfing, SUPing, and kayaking. Others are emphasizing the fun factor by creating unique designs and colors. Still others in the stand-up paddle board market are promoting their boards as environmentally friendly thanks to their minimal impact on marine life.
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SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
Global stand-up paddle board market is a rapidly growing market with immense potential. According to the Outdoor Industry Association, sales of stand-up paddle boards grew by over 20% from 2014 to 2020, and continue to grow at a similar rate. This growth is being driven by the increasing popularity of the sport, as well as the wide range of benefits that it offers.
There are a number of different types of paddle boards available on the market, which cater to different styles of paddling and different levels of experience. Inflatable paddle boards are becoming increasingly popular due to their portability and ease-of-use, while racing boards and surfboards are also popular among those looking for more performance-oriented designs.
Report Metric | Details |
---|---|
Market size value in 2021 | USD 1.35 billion |
Market size value in 2028 | USD 2.61 billion |
Growth Rate | 9.7% |
Base year | 2021 |
Forecast period | 2022-2028 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Stand-up Paddle Board Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Stand-up Paddle Board Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Stand-up Paddle Board Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Stand-up Paddle Board Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Product ID: SQSG30L2019