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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AI-powered analysis. Explore trends, segmentation, and growth
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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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dynamics
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: media@technavio.com
Website: www.technavio.com/
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