With Rising Surfing in Adventure Tourism, Stand-Up Paddleboard Market To Grow By $253.4 Mn From 2024-2028
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. The 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, The 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, that appeal 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.
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.
Research Analysis
Stand-up paddleboarding (SUP) is a popular water sports 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, flat water, and surf SUP boards made of materials like epoxy, fiberglass, or inflatable. SUP offers numerous benefits such as full-body workouts, 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. This 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 a 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.
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide 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.
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