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NEW YORK, Sept. 20, 2024 /PRNewswire/ -- Report on how AI is driving market transformation- The global stand-up paddleboard market
size is estimated to grow by USD 253.4 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 10.44% during the forecast period. Growing adoption of surfing in adventure tourism
is driving market growth,
with a trend towards
innovations in SUPs. However,
competition from low-cost vendors poses a challenge. Key market players include 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., NRS Inc., RAVE Sports, Red Paddle Co. Ltd., Starboard, SUP ATX LLC, SurfTech LLC, Tahe Outdoors France SASU, Tower, and Wenonah Canoe.
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Technavio has announced its latest market research report titled Global stand-up paddleboard market 2024-2028
Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View the snapshot of this report
| Stand-Up Paddleboard Market Scope |
| Report Coverage |
Details |
| Base year |
2023 |
| Historic period |
2018 - 2022 |
| Forecast period |
2024-2028 |
| Growth momentum & CAGR |
Accelerate at a CAGR of 10.44% |
| Market growth 2024-2028 |
USD 253.4 million |
| Market structure |
Fragmented |
| YoY growth 2022-2023 (%) |
8.65 |
| Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
| Performing market contribution |
North America at 41% |
| Key countries |
US, France, Canada, and Germany |
| 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., NRS Inc., RAVE Sports, Red Paddle Co. Ltd., Starboard, SUP ATX LLC, SurfTech LLC, Tahe Outdoors France SASU, Tower, and Wenonah Canoe |
Market Driver
The Stand-Up Paddleboard market is experiencing a shift towards premium, purpose-oriented boards. Major players, such as Aqua Leisure, are introducing innovative technologies and materials in their new product ranges. These include attachment fixtures for action cameras, GPS units, and other gear. Some manufacturers are also developing inflatable boards with hardboard characteristics, like BIC Sport's TOUGH-TEC process, which molds polyethylene skin over an EPS core. This results in lightweight and durable boards, appealing to SUP schools and first-time buyers. The global market is expected to grow during the forecast period due to the increasing demand for advanced and long-lasting stand-up paddleboards.
The Stand-Up Paddleboard (SUP) market is experiencing significant growth in the soft adventure sports sector. SUP is a fun and accessible water sport activity that involves using a board and a paddle to move across the water. The market includes various product types such as all-round and flatwater boards, as well as surf SUP boards. The SUP board comes in different lengths, weights, and prices, catering to various consumer needs. Beginners can opt for heavier, wider boards, while professionals prefer lighter, narrower ones. The paddles are adjustable to fit different arm lengths. The SUP market is seeing adoption by a wide range of ages and fitness levels, making it a popular choice for fitness training and relaxation time. The sport offers numerous benefits, including full-body workout, improved balance, and connection with nature. The market includes various board types, such as touring, racing, yoga, and surfing boards. SUP is also gaining popularity as an alternative to extreme sports like skiing, kayaking, rafting, and rowing. Despite the risks involved in water sports, the market is expected to continue growing due to its unique appeal and the increasing trend towards active lifestyle. The sales channel includes both online and offline retailers, with PVC boards being a popular choice due to their durability and affordability. Overall, the SUP market is an exciting and dynamic industry that offers endless opportunities for adventure and fun.
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Market Challenges
The Stand-Up
Paddleboard (SUP) market is currently facing a challenge from an influx of low-quality SUPs. These manufacturers, predominantly based in the industry, compete primarily on price, offering sub-standard products that do not meet industry standards. This trend has forced major SUP manufacturers, such as LAIRDSTANDUP in San Diego, to reconsider their product lines and focus on rigid and soft-top SUPs. To remain competitive, industry leaders plan to invest in product branding, innovative designs, and novel materials like carbon and polycarbonates. However, the availability of low-cost SUPs will continue to impact emerging markets like India, China, and Thailand, where pricing is a significant purchasing factor.
The Stand-Up
Paddleboard (SUP) market is experiencing dynamic growth due to its popularity as a user-friendly, enjoyable, and relaxing water sport. Challenges for new buyers include selecting a stable board with good center of gravity for easy learning. Deflated and rolled-up SUPs offer convenience for transport and storage. Performance-wise, SUPs help users track better and connect with the water, making it an excellent investment for fitness amateurs and experienced paddlers alike. Offline retailers offer discounts and promotions to attract buyers, but entry costs can be a barrier to entry for some. Key market trends include the growing popularity of inflatable SUPs, which offer ease of transport and storage. Locations to paddle, such as lakes and rivers, add to the sport's appeal. With its fitness benefits, core workout, and balance training, SUP is an enjoyable and effective workout for all skill levels. The SUP market's future looks bright, with its newness and user-friendliness continuing to drive its popularity.
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Segment Overview
This stand-up paddleboard market report extensively covers market segmentation by
Distribution Channel
1.1 Sports goods retailers
1.2 Department stores
1.3 Online retailers
Product
2.1 Inflatables
2.2 Hardboards
Geography
3.1 North America
3.2 Europe
3.3 APAC
3.4 South America
3.5 Middle East and Africa
1.1 Sports goods retailers-
The Stand-Up Paddleboard market distribution channel includes vendors selling their products through sports specialty stores, vendor-specific showrooms, and rental stores. This segment's growth is driven by customers' preference for a tactile shopping experience. Sports specialty stores and vendor-showrooms offer several benefits, such as convenient vendor contact, extensive product selection, better product assortment, extended trial periods, and expert product knowledge. For instance, Decathlon, a leading sports goods retailer, stocks over 70 sports, including SUP. Trained store staff plays a crucial role in educating customers, addressing product usage queries, and converting potential buyers. Despite challenges like seasonal sales and inventory maintenance, the preference for purchasing SUP from sports goods retailers will positively impact the market's growth during the forecast period.
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Research Analysis
Stand-Up Paddleboarding (SUP) is a popular water sport activity that involves balancing on a board while using a paddle to propel oneself through the water. The board, typically ranging from 9 to 14 feet in length and priced between USD500 to USD2000, comes in various types including all-round, flatwater, and surf SUP boards made of materials like epoxy, fiberglass, or inflatable. SUP offers numerous benefits such as full-body workout, improved fitness levels, relaxation time, and even yoga practice on the board. It caters to various adventure seekers, from beginners to extreme sports enthusiasts, and can be used for recreational activities like touring or racing. Offline stores are a common place to purchase SUP equipment, ensuring proper fitting and expert advice. Always remember, like all water sports, SUP involves certain life risks, so proper training and adherence to safety guidelines are essential.
Market Research Overview
The Stand-Up Paddleboard (SUP) market is witnessing significant growth as more consumers embrace this fun and versatile water sport. SUP, a unique blend of soft adventure sports and fitness, involves balancing on a board while using a paddle to propel oneself through the water. SUP boards come in various lengths, weights, and prices, catering to different consumer preferences and skill levels. The product type includes all-round, flatwater, surf SUP boards, made from materials like PVC, epoxy, fiberglass, and inflatable. SUP can be used for various activities such as yoga, racing, touring, surfing, skiing, kayaking, rafting, and even extreme sports. SUP offers numerous benefits, including full-body workout, improved core strength, and a chance to connect with nature for relaxation and adventure. The market dynamics include the popularity of SUP among fitness amateurs, its ease of learning, and the growing preference for inflatable and affordable options. Offline and online sales channels offer discounts and promotions to attract consumers, making this investment a worthwhile experience.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
Distribution Channel
Sports Goods Retailers
Department Stores
Online Retailers
Product
Geography
North America
Europe
APAC
South America
Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email:
[email protected]
Website:
SOURCE Technavio
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