Kayak Market

Kayak Market Snapshot (2023-2033)

The global kayak market is expected to be worth US$ 177.2 Million in fiscal year 2023, up from US$ 171 Million in fiscal year 2022. From 2023 to 2033, the market is expected to grow at a 3.5% CAGR, reaching a value of US$ 250.5 Million by the end of 2033.

Rapid urbanization is fueling the rise of the kayak sector. A kayak is a tiny, thin watercraft that is often powered by a double-bladed paddle. The word kayak is derived from the Greenlandic term qajaq. The classic kayak features a covered deck along with one or more cockpits, each seat for one paddler. To propel the ship across the water, the individual can utilize a single-bladed paddle. Thus, a kayak is an enclosed watercraft with a person sitting inside with legs extended and wielding a double-bladed paddle.

One of the primary factors driving the expansion of the kayak market is the increase in the number of outdoor activities throughout the world. The increased popularity of kayaking among the general public as a result of improved strength, cardiovascular fitness, and flexibility drives market expansion.

The rise in leisure activities and the popularity of indoor adventure sports also have an impact on the industry. Furthermore, an increase in the frequency of health-related illnesses, an increase in disposable income, increased e-commerce sales channels, and clever strategic marketing actions by manufacturers all benefit the canoe and kayak industry. Furthermore, rising consumer awareness and new product launches create profitable prospects for market participants from 2023 to 2033.

On the other hand, the expensive cost of the kayak is projected to stymie market expansion. Nevertheless, with the increasing sales of the kayaks for increasing sports activities across the globe, the kayak market is expected to have a high level of competition during the forecast period.

Attributes	Details
Anticipated Base Year Value (2022)	US$ 171 Million
Expected Market Value (2023)	US$ 177.2 Million
Projected Forecast Value (2033)	US$ 250.5 Million
Global Growth Rate (2023-2033)	3.5%
CAGR of North America (2023)	3.1%
CAGR of APAC (2023-2033)	3.8%
Prominent Players in The Global Market	Advanced Elements AIRE Aqua Xtreme Clear Blue Hawaii Klepper Faltbootwerft MOOVING SARL BIC Sport Long Haul Kayaks Nautiraid ORU KAYAK TRAK Kayaks Folding Kayaks UK KL Outdoor LLC Johnson Outdoors Inc. Feelfree US, LLC Jackson Kayak, Inc. Confluence Outdoor, LLC

2018-2022 Kayak Market Demand Analysis Vs. Forecast 2023-2033

The global kayak market grew at a CAGR of 2.1% from 2018 to 2022, as per Fact.MR, a provider of market research and competitive intelligence. During the anticipated period, there has been some significant developments among the design and utility of the kayaks, which has propelled the demand for the kayaks.

Kayak design is highly important to the functions that they provide. For example, a leisure kayak is simple for novices since it is small in weight and maneuverable. It should be emphasized that, despite its low weight, it is strong enough to survive any weather conditions. Kayaks often have two cockpits for two persons, as recreation is commonly done in company and is therefore safer. The ocean kayaks or tour kayaks are created with a longer travel in mind and hence have additional storage space because they contain a compartment for storage as well.

These kayaks can carry enough provisions to last at least a day or two. They are made to be comparatively robust and can endure both violent waters as well as tougher conditions. Such benefits are expected to boost the demand of kayak globally during the forecast period.

Prominent Growth Drivers Influencing Kayak Market

Increasing number of water bodies to boost the water kayaking sports

Forest conservation organizations and government agencies are working to enhance natural water bodies such as streams and lakes for water leisure sports, which is positively affecting the kayak market. The utilization of natural water bodies for water leisure sports draws a significant number of people of all ages to participate in these activities. Kayaking along with rafting are two most common water leisure sports for those looking for adventure and thrills.

Moreover, with more people getting into physical activities post the pandemic scenario, has urged people to move towards water sports like canoeing and kayaking. Such factors have boosted the Kayak growth prospects in various developing as well as underdeveloped nations.

Kayaking has a wide range of benefits to boost a physical health

Kayaking, in addition to providing thrills and adventure, helps to enhance coordination and balance as well as endurance and strength training. Swinging the paddle enhances muscular strength, notably in the arms, back, shoulders, and chest.

Increased torso as well as leg strength, as powering a kayak is mostly accomplished by turning the torso and delivering pressure with your legs. Since paddling is a low-impact sport, the risk of joint as well as tissue wear and strain is reduced. Such advantages are enticing people to try kayaking, and some even travel significant distances to do so.

Kayaking also provides the pleasure of being near to nature for fresh air and quiet. The kayak market is being influenced positively by the collaborative advantages of kayaking.

What Could Possibly Hinder Kayak Market Demand?

High costs, speed and less storage factors will hinder the market growth

The kayaks have a limited amount of room. They are meant for a few hours of kayaking and hence have less storage capacity. This might not be the best option for carrying a large amount of stuff. On the other hand, the expensive cost of the kayak is projected to stymie market expansion.

Speed might often be frustrating. Wider kayaks provide better stability. However, this comes at the sacrifice of quickness. Wider boats, as opposed to narrower ones, have higher resistance on the water. Customers should not expect their leisure kayak to move as smoothly as a touring kayak. These variables may impede kayak sales throughout the predicted period.

Category-wise Insights

Which trade channel segment is expected to gain traction during 2023-2033?

The sports variety stores segment will gain the dominant market share

In 2023, the sports variety stores category is anticipated to dominate with a 54% revenue share. This is because they sell recognised brands of kayak, making them appealing shopping places.

These sales channels allow for a more in-depth review of the items while also giving consumers the necessary intelligence and assistance. The presence of knowledgeable customer service representatives has increased the appeal of these sales channels in the worldwide kayak industry. These factors are anticipated to increase the revenue share of the kayaks globally.

What would be the outlook of the product type segments?

The recreational kayaks will become more significant

The recreational kayaks segment will be the fastest growing segment during the forecast period with a 3.6% CAGR. In the year 2023, this segment is predicted to acquire almost 37% of the market share.

Recreational kayaks will continue to be popular among the numerous goods on the market since they are suited for paddlers of all levels due to features such as ease of paddling and comfort, stability, and user-friendly design. Sales of leisure kayaks will continue to be somewhat higher than sales of touring and racing kayaks combined.

These kayaks are appropriate for beginners. The added breadth makes them more sturdy, and the simplicity of access will appeal to many newcomers. The length is likewise not excessive, making the yaks maneuverable. They are less costly. Recreational boats do not have fancy features and are not composed of pricey materials. They are inexpensive to the majority of people. It's another feature that makes them excellent entry-level vessels. Such factors will propel the demand for the recreational kayaks from 2023-2033.

Region-wise Analysis

What is the outlook of the North American kayak market?

Government initiatives and love for sports activity in the region will propel the sales

North America is predicted to expand with a revenue share of more than 47% in 2023 and is the fastest-growing market for kayak, with a 3.1% CAGR from 2023 to 2033.

The kayak industry is benefiting from tremendous popularity in water leisure sports due to a desire for thrills and adventure. Furthermore, state and national kayaking events conducted by government entities and athletic leagues are boosting the region's kayak sector.

Governments in the region are encouraging adventure tourism by hosting competitions in order to increase the appeal of such activities. The Pan Am Competitions, for example, are important kayaking championships conducted in the region each year. As a result, North America will continue to be the dominant market for kayaks, both in terms of revenue and market share.

What can be expected from the APAC market for  kayak?

Higher number of water bodies with increasing disposable income will propel the demand

With a 31% revenue share in 2023, Asia Pacific is anticipated to gain a prominent position in the global market for kayak. The region is expected to grow with a 3.8% CAGR during the forecast period owing to the presence of a high number of natural water bodies, as well as people's desire for adventure activities, is a major element driving the kayak market in the region.

The kayak market in Asia Pacific is expected to expand rapidly in the future years. Economic expansion in the region's emerging countries, which leads to more spending on pricey adventures, is bolstering the region's kayak industry. Individuals' substantial spare money to spend on leisure activities is another aspect driving the region's kayak market.

Start-up Scenario

Companies are more concerned with increasing kayak production capacity to meet increased demand from end-use sectors. These companies are always doing R&D activities in order to give a diverse range of high-quality product lines.

• Oru Kayak thinks that interacting with nature is a fundamental human desire. They are inspired by a wide range of experiences, most notably Greenland kayaking and Japanese origami. During their journey, they have received several honors, including Gearjunkie, ISPO product of the year, and many others.
• Rack Attack's Kayak executives purchased the company from the original author in 2017 and now have over a million satisfied customers. They also have 23 delivery sites around North America, so their online consumers get free shipment to their home in less time.

Competitive Landscape

Some of the prominent players in the global kayak market are: Advanced Elements, AIRE, Aqua Xtreme, Clear Blue Hawaii, Klepper Faltbootwerft, MOOVING SARL, BIC Sport, Long Haul Kayaks, Nautiraid, ORU KAYAK, TRAK Kayaks

Folding Kayaks UK, KL Outdoor LLC, Johnson Outdoors Inc., Feelfree US, LLC, Jackson Kayak, Inc. and Confluence Outdoor, LLC.

Some of the prominent developments of the key players of the market are:

• In September 2019, TRAK Kayaks unveiled the TRAK 2.0 kayak "BLACKBLUE" product portfolio for the year 2020, which featured an ultimate touring kayak, floating bags, all-carbon paddles, backpacks, as well as other kayak gear.
• The AdvancedFrame® Convertible, a fifteen-foot kayak capable of being paddled single or tandem, is Advanced Elements' flagship kayak. With an open deck layout, customers can easily enter and depart the boat, or you may use the optional single or the double decks to quickly change the AdvancedFrame® Convertible from that of an open deck toward a closed deck kayak. The robust bow as well as stern rib-frame architecture of this kayak is combined with the option of tandem or single seating positions and replaceable decks.

Key Segments Covered In The Kayak Market Report

• Kayak Market By Product Type

  • Recreational
  • Touring
  • Racing

• Kayak Market By Sales Channel

  • Sports Variety Stores
  • Third Party Online Channel
  • Direct-To-Customer Online Channel
  • Modern Trade Channels

• Kayak Market By Buyer Type

  • Individual
  • Institutional
  • Promotional

• Kayak Market By Region

  • North America
  • Latin America
  • Europe
  • Japan
  • APEJ
  • Middle East & Africa (MEA)