Developed regions such as Europe and North America have witnessed a considerable rise in terms of participation in watersports, over the past few years.
Core boating activities such as kayaking or rafting are gaining popularity, and with that, propelling the need for effective and basic protective gear such as life jackets.
As majority of watersports professionals fall under the younger demographics, higher tendency of accidental tripping and falling overboard has necessitated the use of life jackets.
Although, manufacturers of life jackets are struggling to balance their annual net gains due to seasonal participation in watersports industry.
Moreover, activities such as sailboat racing, yacht cruising, canoeing and motor boating are gaining commercialization due to involvement of owners of private water bodies.
Overall, increasing popularity of a majority of watersport events is likely to translate impressive revenues in the global market for life jackets.
Being a sleeveless, inflatable and buoyant vest that keeps the wearer afloat in water, a life jacket is personal flotation device that is the single-most important piece of protective gear used in watersports and other aquatic activities.
Life jackets are worn over the upper body, and are designed to hold up the torso of the wearer above water, eliminating the risk of drowning.
According to Fact.MR, the global market for life jackets will soar at a moderate CAGR, raking revenues worth over US$ 2,500 Mn by the end of 2022. Demand for life jackets is expected to witness promising growth on the account of rising use in nautical tourism.
End-use Tussle – Watersports vs Paddle Sports
Key findings from the market study reveal that a majority of life jackets in the world are used in watersports. However, against the popular belief, the end-use of life jackets is not limited to watersports.
According to the report, global sales of life jackets across watersports end-users will be witnessing a robust growth at 5.5% CAGR through 2022.
While the use of life jackets in commercial vessels, day sailing, fishing, and offshore sailing is also gaining traction, the market is expected to witness impressive growth in the end-use of life jackets across paddle sports.
Although, this segment is expected to witness less than 10% share in the global life jacket market, paddle sports as an end-use of life jackets will create a global incremental opportunity of over US$ 38 Mn between 2017 and 2022.
Know More Details About the Report
The report has also profiled leading manufacturers of life jackets in the global market, which include
- Jarden Corp
- Stormy Lifejackets Pty Ltd.
- Mustang Survival Corp.
- Johnson Outdoors Inc.
- Kent Sporting Goods Company Inc.
- Hansen Protection AS
- Safety and Survival Systems International Ltd.
- Viking Life-Saving Equipment A/S
- Survitec Group Limited
(Additional information, including cross-sectional data and country-wise analysis & forecast is available in the report)
Coast guard authorities across all oceanic fronts in the world restrict the boarding of recreational vessels (boats) or participating into watersports activities in the absence of proper-sized life jackets, which are in good and serviceable conditions.
Similar to how skydivers wear parachutes, football players have their helmets and professional car racers have to put their seat belts on, life jackets will continue to remain a prerequisite for partaking in many watersports events such as rafting, windsurfing or kayaking.
The report, compiled by Fact.MR, provides in-depth analysis of the global life jacket market for the forecast period 2017-2022, and offers key insights about future market direction.
The scope of Fact.MR’s report is to analyze the global life jacket market for the forecast period 2017-2022 and provide readers an unbiased and accurate analysis.
Life jacket manufacturers, stakeholders, and suppliers in the global sporting goods & accessories industry can benefit from the analysis offered in this report. This report offers a comprehensive analysis, which can be of interest to leading trade magazines and sports journals.
The report commences with a brief information of the global life jacket market. This executive summary sets the tone for the rest of the report, providing users the scope of the report.
The executive summary includes important facts and statistics on the global life jacket market.
The next section offers an overview of the life jacket market. This comprises an introduction to the market, along with a standard definition of the product – life jacket. In this section, market value and year-over-year growth is offered to the readers.
Year-over-year growth provides readers with a broader view of growth patterns over the forecast period.
The report’s succeeding section focuses on drivers, restraints and key trends from macroeconomic, demand, and supply perspectives. Impact analysis of weighted average model-based growth drivers is contained in the report for better provision of decision-making insights to clients.
In order to offer readers with up-to-date information about the latest advancements in the global life jacket market, the report provides updates about market opportunities, which can benefit leading manufacturers of life jacket.
With continuous evolution of the sporting goods & accessories industry, keeping a record of latest developments and trends is fundamental for life jacket manufacturers to formulate key business strategies. Detailed insights about raw material sourcing, supply chain, pricing analysis, list of distributors, and cost structure are provided in this section.
The global market for life jackets has a wide scope, considering which the Fact.MR report offers a segment-wise forecast & analysis. Product type, material type, end-user, distribution channel, and region are the key segments employed in analysis of the global life jacket market.
This segmental analysis also includes a comprehensive cross-sectional assessment and country-wise forecast, provided across multiple parameters.
The report’s last section comprises of the global life jacket market competitive landscape, to provide readers with the dashboard view of company analysis and market players. This competitive intelligence is based on the providers’ categories across value chain, and their presence in the global life jacket market.
Fact.MR is committed to offer unbiased and independent market research solutions to its clients. Each market report of Fact.MR is compiled after months of exhaustive research.
We bank on a mix of tried-and-tested and innovative research methodologies to offer the most comprehensive and accurate information. Our main sources of research include,
- Primary research
- Secondary research
- Trade research
- Focused interviews
- Social media analysis
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