French Stand Up Paddleboard Market Expected to Grow at a CAGR of 9%
NEW YORK, January 13, 2022 / PRNewswire / – Global Stand Up Paddle Market Expected to Reach $ 1.5 billion in 2022 and $ 3.8 billion by 2032, with a CAGR of 9.7% between 2022 and 2032.
SUP boards were in high demand due to an increase in recreational sports activities in various places. As the market matures, a considerable number of young paddlers with moderate income enter the market. As a result, there will be more competition in the market, allowing producers to reduce the SUP boards prices.
In 2020, the multi-purpose SUP board will represent a considerable turnover, with a revenue share of over 45%. Due to the growing consumer demand for a versatile SUP, it is considered the paddleboard of choice.
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Sales of recreational water sports equipment are increasing as more and more people participate in recreational activities. According to the National Marine Manufacturers’ Association, more than 180 million people in United States participated in water sports events in 2019. (NMMA). Another driving force behind this market is the growing popularity of SUP boards among young people who enjoy adventure and leisure activities.
The solitude and calm of a surf trip are described as a source of satisfaction for surfers. Approvals like this from sports professionals give SUP board manufacturers the boost they need to increase sales.
According to the study, stand up paddleboarding accounts for around 10% of all surf activities undertaken in France. According to the French Surfing Federation, there are a total of 680,000 active surfers in France, who practice all types of surfing.
Compared to France, the UK has around 500,000 surfers, while Germany has about 420 thousand. Global demand for paddleboards is driven by the increasing population of surfers in Europe.
Over the past half-decade, increased penetration of sport has resulted in an increase demand for sports equipment. This quality attracts newcomers to the business, such as customers, suppliers and distributors.
Key points to remember:
- Europe is expected to represent nearly 30% of the global SUP board market.
- The Japanese Stand Up Paddle Board market will reach a valuation of more than $ 200 million by 2032.
- By type of board, the inflatable SUP board is expected to grow at a CAGR of over 9.5%.
- By type of material, plastic SUP boards account for 70% of the revenue share.
- Growing demand for recreational sport activities to drive the growth of the SUP Board market.
- Young people showing an inclination for adventure and leisure activities to propel the demand for SUP boards.
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To increase global penetration in profitable areas, the players mentioned above employ a mix of inorganic and organic growth strategies, such as new product introduction, product modification, and constructive collaboration and partnership with small manufacturers or startups to drive sales, increase profitability and keep up with current trends in the stand up paddle industry.
- In 2021, Blue Planet Surf announced the takeover of the management of Tropical Rush Store. This development is expected to increase sales of its SUP board and demand for the company’s paddleboard rental services.
- In 2019, Funky Sup released a new stand-up paddle board for kids that features 2D and 3D photographs of sea creatures.
- In 2021, Dunn-rite Products launched a new floral inflatable paddle board, with a maximum weight capacity of 435 pounds and a width of 32 inches.
The key players in the Stand Up Paddle Board market are
- Ben Buckler paintings
- Blue Planet Surfing
- Sup funky
- Dunn-Rite Products
- Hobie Cat Company
- Aquaspro Sports & Leisure Company Limited
- C4 Waterman
- Stand Up Paddle Boards Honu
- Imagine Nation Sports, LLC.
- Gili Sports
- Anhui Light Industries International Co. Ltd
More Valuable Information About Stand Up Stand Up Paddleboard Market
Fact.MR provides an unbiased analysis of the Stand Up Paddleboarding market, presenting historical demand data (2017-2021) and forecast statistics for the period 2022-2032. The study reveals compelling insights into the global stand up paddleboard market with detailed segmentation on the basis of:
- By product type:
- Multipurpose SUP board
- SUP board in calm water
- SUP board
- SUP surf board
- By length:
- 9 to 12 feet
- > 12 feet
- By type of material:
- By type of card:
- SUP surf board
- Inflatable SUP board
- By application:
- Touring / Cruise
- By consumer orientation:
- By sales channel:
- Online sales channel
- Directly to the customer
- Third party online
- Franchised sports store
- Retail sports store
- Modern trade channel
- Specialty stores
Key questions answered in Paddle board Market report
- The report provides an overview of the stand up paddle board market demand outlook for 2022-2032.
- The market research also highlights the expected sales growth for the Stand Up Paddleboard market between 2022 and 2032.
- The Stand Up Paddleboard market research identifies key growth drivers, restraints, and other forces impacting dominant trends and evaluating the current market size and forecast and technological advancement within Of the industry.
- Analysis of the stand up paddle board market share of key companies in the sector and coverage of strategies such as mergers and acquisitions, joint ventures, collaborations or partnerships, etc.
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