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I AgreeAnalysis of Stand Up Paddle Board market covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
The global stand up paddle board market will gain a market value of US$ 1.65 Billion in 2023 and is expected to accumulate a market value of US$ 4.3 Billion by registering a CAGR of 10.05% in the forecast period 2023-2033.
Global population growth, water activities, rapid growth of water sports, and increasing disposable income levels are all contributing factors to the growth of the stand up paddle board market.
According to the forecast, North America is poised to create US$ 960 Million in revenue during the forecast period. Recent surveys conducted by the Outdoor Industry Association report over 3 million standup paddle boarders attend events worldwide. Due to an increase in recreational sports activities in various regions, SUP boards have become more in demand.
Various organizations are actively promoting eco-friendly materials to be used in the manufacture of these products, which is one of the most promising initiatives in this area. For instance, SUPRA has helped promote eco-friendly water sports and provided SUP guidance during Kerala Backwaters Challenge.
In addition to professional kayaking and canoeing instruction, there will also be surfing and sailing instruction. Taking place every four years, the challenge will take place on January 14 and 15, 2023. After analysing Kerala's water bodies for unsurveyed submerged poles, paddle boarders will explore other venues after exploring the backwaters of Cherai and Eroor.
Report Attributes |
Details |
Anticipated Base Year Value (2022) |
US$ 1.5 Billion |
Expected Market Value (2023) |
US$ 1.65 Billion |
Projected Forecast Value (2033) |
US$ 4.3 Billion |
Global Growth Rate (2023-2033) |
10.05% CAGR |
Expected Market Share of North America Market (2023) |
11.2% |
Top 5 Companies Market Share |
15% |
Major Service Providers |
|
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According the latest report by Fact.MR, standup paddle boards are set to create US$ 2.2 Billion in absolute opportunity during the forecast period. In order to revamp the landscape of the SUP board market to cater to the growing demands of paddlers around the world, the water sports equipment suppliers are implementing aggressive growth tactics.
Among the prominent regions contributing to the growth of the market are the United States, Germany, France, the United Kingdom, and Spain.
Increasing sales of light weight products made of plastics also boost the potential of this market. Moreover, there is a growing trend of paddle board yoga that is expected to contribute to the expansion of this industry during the forecast period.
It has become evident that the demand for SUP products is increasing at a global level due to the increasing number of enthusiasts participating in this sport at the international level along with the presence of numerous organizations that organize sports events at different levels across various fields of interest.
Over the forecast period of 2022-32, franchised sports outlets are expected to expand 2.6x under the sales channel. Thus, the market for stand up paddle board is expected to register a CAGR of 10.05% in the forecast period 2023-2032.
A growing number of participants at recreational activities increases the sale of water sports goods. A growing trend among youths who enjoy adventures and leisure activities is another driving factor for the SUP board market.
The solitude and quietness of a surfing expedition is of great appeal to surf enthusiasts. Professional endorsements such as these provide SUP board manufacturers with the necessary boost to increase their sales. Stand-up paddle boards are currently becoming more popular in the market as a result of a growing global tourism industry.
To make the product lighter and better, manufacturers continue to develop and innovate the product in order to make it lighter and more efficient in the market. During the forecast period, manufacturers are expected to utilize innovative technologies and novel materials to improve the quality and performance of paddleboards. All these factors are expected to grow the market demand.
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Increasing government funding and participation in sports competitions is expected to drive SUP board sales to new heights over the next few years. Sports professionals offer free training sessions to the populations of countries in North America and Europe that spend millions of dollars each year on such organizations.
During the past half-decade, sports penetration has increased to the point where higher demand has resulted in a rise in sports equipment sales in the market. As a result, buyers, suppliers, and distributors are attracting newcomers to the industry.
With the increasing popularity of professional water sports, there is a growing need for coaches and scouts that provide personalized service. Accordingly, the market for stand up paddle board equipment across the globe is expected to grow due to the above reasons.
Costs Associated with Surfing may inhibit the Growth of the Market
Inflatable boards market growth is expected to suffer from the rigid nature of inflatable products. This industry is expected to face hurdles due to the high cost of materials and the high cost for surfing. Furthermore, there is a risk of the market growth being impeded by the competition from low-cost vendors.
Key start-up players in the stand up paddle board market are SUPjet, Paddle, Sups Life, and Propaddleboadrs.
Attributes |
Stand Up Paddle Board Market |
CAGR (2023-2032) |
10.05% |
Market Value (2032) |
US$ 4.3 Billion |
Growth Factor |
As one of the best recreational activities that boost an individual's health, stand up paddle boarding is considered a healthy activity, hence market is expected to grow in the coming years. |
Opportunity |
With a growing number of recreational activities, stand up paddle boards are gaining popularity and expected to provide lucrative opportunities in the coming years. |
Attributes |
Surfboard Market |
CAGR (2023-2032) |
7.2% |
Market Value (2032) |
US$ 10.4 Billion |
Growth Factor |
Rising interest of urbanites in adventure sports and the expansion of the worldwide tourism industry that includes adventurous activities such as surfing, kayaking, scuba diving, jet skiing, parasailing, bungee jumping, etc. |
Opportunity |
As adaptive surfing becomes increasingly popular among disabled people, manufacturers in the market have lucrative opportunities. |
Attributes |
Electric Surfboard Market |
CAGR (2023-2032) |
7.3% |
Market Value (2032) |
US$ 173.4 Billion |
Growth Factor |
As technology advances and carbon nano-fiber material is implemented during surfboard fabrication, several benefits can be achieved. |
Opportunity |
The growing popularity of water sports will generate plenty of opportunities for manufacturers in various regions due to the growing per capita income and increasing spending on surfing hobbies. |
According to market research, Europe will account for 36% of the global SUP board market share in 2023. The presence of hotspot surfing sites in France has contributed to the dominance of the European stand up board market share. According to Fact.MR projection, the France market will reach US$ 210 Million by 2023, increasing at a CAGR of 9% over the forecast period.
A study conducted by the French Surf Association found that a total of 10% of all surfing activities are conducted in the country involving stand up paddle boarding. Based on data obtained from the French Surfing Federation, it has been estimated that there are currently 6,80,000 surfers actively engaged in all types of surfing in France, as indicated by the federation.
In comparison to France, the United Kingdom has about 500 thousand wave surfers, while Germany has approximately 420 thousand of surfing population. Stand-up paddle boards are in high demand on a global level as a consequence of the growing surfing population in the European region.
Japan has been ranked as one of the top countries surrounded by water over the past decade. A lot of the growth in the market for stand up paddle boards has been credited to the natural tides, which are playing a significant role in boosting consumer adoption of the product and increasing its success in the market. By the end of the forecast period, the Japan market is expected to reach a value of about US$ 200 Million.
Furthermore, stand up paddle board market growth will be driven by the growing importance of fitness awareness and the demand for fun activities. For instance, SUP provides some unique opportunities to view cherry blossoms along the Ooka River in Yokohama from above the water. Taking a sakura cruise is not a new thing, but what makes SUP different is that you can participate in a sakura cruise while standing on a surfboard, which makes it stand out even more.
Country | CAGR |
U.S. |
8.9% |
Germany |
8.4% |
France |
9.2% |
Japan |
7% |
On the basis of products, the global industry has been segmented into all-round SUP board, Flatware SUP Board, Race SUP Board, Surf SUP Board. Approximately 49% of revenue in 2022 will come from the market for all-round SUP boards. A high demand for all-round SUPs has led to the board becoming one of the must-have paddle boards for consumers in today's market.
SUP boards for all round use are expected to see an increase in demand in the market as the popularity of these boards grows in terms of their length, width, thickness, and outline shape. As a result of its versatility and affordability, all round stand up paddle boards are expected to grow in demand.
Convenience and Comfort Increasing Demand from Inflatable SUP Boards Sector
On the basis of board type, the global industry has been further categorized into surf SUP board, and inflatable SUP board. With the development of inflatable paddle boards, stand up paddle boards have developed a huge advantage over hard boards since they are safer for use in large waves.
Over the forecast period, inflatable SUP boards are projected to grow at a CAGR of over 9.5% over the segment board type by the end of the forecast period. A user-friendly transportation system, reduced storage space requirements, and a long shelf life are driving sales of this product.
Hard boards are prone to dings and holes that require expensive repairs, but inflatables are resistant to these flaws. Thus, inflatable boards have become increasingly popular on rivers, where rocks can play an important role, as well as why SUP schools are increasingly using inflatable fleets to prevent boards from being damaged by careless handling by students and renters.
Low Cost Plastics are anticipated to be the Most Preferred Material for SUP Boards
Plastic is a significant raw material used in stand up paddle board manufacturing. At the end of the assessment period, it is anticipated that plastic will capture around 70% of the revenue shares. The increasing popularity of storage compartments in these paddleboards has led to an increase in demand for plastic paddleboards.
As a result of their strength, durability, and endurance, SUP boards made of plastic have a long lifespan, are easy to handle, and are sturdy. Due to its low cost, plastic material has attracted manufacturers to this material and therefore increased demand for stand-up paddle boards. By doing this, it ensures that all consumers can afford to buy the product that they wish to purchase. Aside from that, SUPs made from plastic can also be customized and fitted with accessories as needed, such as fishing rod holders and backrests, according to individual needs.
By collaborating strategically, manufacturers can increase production and meet consumer demand, increasing revenue and market share. It is becoming increasingly common for manufacturers to incorporate eco-friendly materials into their products to develop more reliable, versatile products and provide better insulation.
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As of 2022, the stand-up paddle board market was worth US$ 1.5 Billion
Fact.MR foresees stand up paddle board demand to reach US$ 1.65 Billion in 2023.
From 2023-2033, Fact.MR expects to stand up paddle board revenue to flourish at a 10.05% CAGR
In 2033, stand up paddle board market worth is poised to reach US$ 4.3 Billion
With more than 11.2% of the overall revenue going to North America, the region will dominate the global industry in 2023.
Asia Pacific is expected to possess a 21% market share for stand up paddle board in 2023.
Ben Buckler Board, Blue Planet Surf, Funky Sup, Dunn-Rite Products, and Hobie Cat Company.
The fitness segment is expected to possess a 27% market share for stand up paddle board market.
The retail sports outlet distribution channel segment is expected to possess a 35% market share for the stand-up paddle board market.