Global Stand Up Paddle Board Market Analysis & Development Forecast Reveals Growth at 11.9% CAGR during 2018 and 2028

Posted on 2018-07-09 by Mark Hub in Sports // 0 Comments

rockville, US, 2018-Jul-09 — /EPR Network/ — Prospects of stand up paddle (SUP) board market continue to remain bullish, as surging interest in outdoor recreational activities, coupled with wider availability of SUP boards induce momentum, finds a new study. Stand up paddle board sales are also positively influenced by growing popularity of water sports, with Fact.MR’s recent analytical study forecasting an 11.9% value CAGR through 2028.

With the trend of making stand up paddle (SUP) boards lighter by incorporating high-performance materials with better durability, resilience, and flexibility attributes, demand for SUP boards will continue to rise. Consumer attention is gradually shifting more toward their gear, such as high-performance paddles with the choice of flex that has become a vital part of the SUP equipment. The SUP industry’s higher emphasis on foresight implies a promising future for stand up paddle boards’ sales, with skilled professionals ensuring positive experience for new participants in the sport.

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The surge in SUP boarding’s popularity has encouraged vendors in introducing new stand up paddle boards that impart better experiences. Development of multi-purpose or multi-functional SUP boards, which perform well in different environments, is a key focus area of prominent market vendors. Convergence of key factors such as rising number of stand up paddle rental centers with well-experienced and licensed instructors, and product availability via various networks, has been favoring well for the market’s growth.

Stand Up Paddle Board: Taxonomy

This report imparts quantitative & qualitative analysis on the stand up paddle board market, providing a complete view on current and future market prospects. Value forecast rendered in the report is in terms of US$ Bn. Qualitative analysis offered elucidates industry-specific, microeconomic, and macroeconomic factors affecting the market expansion. The report covers complete insights on key growth determinants, deterrents, opportunities and threats that will potentially influence the market in the forthcoming years.

Segmentation-wise analysis & insights on Stand up paddle board market has been offered that enables readers to gain accurate and transparent insights. The report has branched the stand up paddle board market in terms of product type, length, material type, sales channel, end-user, application, nature type, and region.

Inflatable SUP Boards Gaining Ground, as Manufacturer Focus Shifts to Material Development

Inflatable stand up paddle boards have become the most popular segment in the SUP industry, with thousands of paddle-boarders preferring inflatable SUPs over their fiberglass counterparts. According to the report, inflatable stand up paddle boards will continue to account for the lion’s share of the market. However, penetration of inflatables varies from country to country. Recent studies state that in Europe alone, Germany depicts robust penetration of inflatable, whereas France, Portugal and the Scandinavian countries demonstrate high solid stand up paddle board sales.

Advanced manufacturing processes employed by leading brands have resulted in the development of relatively lighter inflatable SUP boards that exert comparatively higher level of paddling experience than solid SUP boards, and facilitate storage and transport. Materials have taken a leap ahead in terms of technological understanding, meanwhile aiding construction of stiffer, lighter, and more resilient inflatable stand up paddle boards that offer better & enhanced paddling experience.

A key area of inflate SUP board development has been the material itself, as manufacturers and vendors seek stronger materials with improved performance attributes. Incorporation of such materials help in maintaining the flexibility, and durable properties essential for inflatable SUP boards, thereby boosting their sales.

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Stand Up Paddle Board Market: Preeminence of North America Prevails with Strong Consumer Affinity Toward Water Sporting Activities

North America continues to be the tip of the spear in terms of revenues from stand up paddle board sales. Most of the region’s dominance can be attributed to the wider consumer base coupled with their robust affinity toward various water sporting activities, and stand up paddle boarding is no exception. Among various paddle sports, kayaking and SUP boarding are most popular among water sports enthusiasts in the region, particularly the youth population.

Initiatives taken by global water sports associations, such as International Surfing Association, for establishing SUP boarding championships, such as the National Standup Paddleboarding Championship in North America, have attracted more and more individuals toward participating in the sport. This has and will continue to augur well for sales of SUP boards worldwide.

The report estimates independent sports outlet to endure lucrative distribution channel for stand up paddle boards. These outlets offer wide variety of popular stand up paddle board brands, which has made them attractive destination for SUP boarding enthusiasts.

Research Methodology

A tested & proven research approach is employed by analysts at Fact.MR for evaluating key industry dynamics and offering precise and authentic market intelligence. A blend of primary & secondary research has been implemented for offering estimates and forecasts on the stand up paddle board market. Secondary research forms initial phase of our research, wherein the analysts conduct extensive information mining by referring to up-to-date and verified data resources that include technical journals, regulatory and government published material, and independent studies, which forms the basis of the market estimates.

All the market estimates and forecast offered are further verified via an exhaustive primary research, wherein interviews are conducted with leading market participants, and industry experts. These comprehensive primary interviews aid in validating the information procured and gain significant industry insights, estimations and key developments.

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About Fact.MR
Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized Sports Market Research Reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that’s why we publish multi-industry global, regional, and country-specific research reports.

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