Stand Up Paddle Board Market

Stand Up Paddle Board Market Outlook

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	Ben Buckler Board Blue Planet Surf Funky Sup Dunn-Rite Products Hobie Cat Company Aquaspro Sports & Leisure Company Limited C4 Waterman Honu Stand Up Paddle Boards Imagine Nation Sports, LLC. Gili Sports Anhui Light Industries International Co. Ltd AKSPORT Coreban F-One DWF Sports Co., LTD. Kona Enterprises Inc. Laird Stand Up Simmer Style Cascadia Board Co. Silver Surf Surfboards Starboard SURFTECH, LLC Tahe Outdoors Tahoe SUP Mistral NAISH NRS Ocean Sports Rave Sports Inc. Red Paddle Co. Ride the Tide Sea Eagle Boats, Inc. Tower Paddle Boards LLC Whitehall Reproductions Canada Ltd. Dba WildSup YOB Australia Yolo Board LLC Zeal Surf

Sales Analysis of stand up paddle board (2018-2022) Vs. Market Forecast Outlook (2023-2032)

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.

How's the Demand for Stand-Up Paddle Boards Growing?

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.

Why is International Sports Becoming an Important Pillar for Stand Up Paddle Board Sales?

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.

What are the Challenges Faced by Stand Up Paddle Boarders?

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.

Start-Ups for Stand Up Paddle Board Market

Key start-up players in the stand up paddle board market are SUPjet, Paddle, Sups Life, and Propaddleboadrs.

• SUPjet is a company that develops electric stand-up paddleboards. With a built-in electric drive and propeller, this watercraft can cruise for 1.5 hours at a maximum speed of 5 mph and has a detachable battery pack.
• Paddle offers merchants SaaS-based payment solutions. Customers can pay with multiple payment options on the merchant's website with this checkout service. As well as managing customers and subscriptions, it provides a subscription billing service. In addition to providing recurring payment services, it offers revenue delivery solutions, data compliance solutions, and other services.

Comparative View of Stand Up Paddle Board Markets

Stand Up Paddle Board Market :

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.

Surfboard Market :

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.

Electric Surfboard Market :

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.

Regional Insights

How has France Gained a Central Position in the European SUP Board market?

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.

How has Stand Up Paddle Board fared in the Asia Pacific Region Over the Past Few Years?

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-wise Forecast CAGRs for the Stand Up Paddle Board Industry

Country	CAGR
U.S.	8.9%
Germany	8.4%
France	9.2%
Japan	7%

Category-Wise Insights

How does the demand for all-around SUP boards contribute to the growth of stand-up paddle boards?

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.

What is the reason for the rapid rise of inflatable SUP boards around the world?

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.

How does plastic work as a preferred material to manufacture stand up paddle boards?

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.

Market Competition

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.

• A new website has been launched by Jimmy Styks, under license from Sport Dimension Inc. from Vista Outdoor Inc., that covers the complete 2022 stand-up paddle board, inflatable paddle board, kayak, and water mat range. The new product line and website rollout will also be overseen by newly hired Brand Manager Doug Anderson. Jimmy Styks' new product range was expected to be introduced between March and April 2022, and will be based on the company's core philosophy, "Adventure for All." This includes an expanded range of inflatable stand-up paddleboards, which are available in a variety of sizes and designs for every rider and participant.
• Love the Oceans, one of the world's leading ocean conservation charities, has partnered with the world's leading inflatable paddle board manufacturer, Red Paddle Co. Red Paddle will donate 10% of sales proceeds to Love the Oceans. During the global campaign to come up with a unique design for Ride's award-winning 10'6" paddle board last summer, budding creatives were invited to participate. This competition was a collaboration between Red Paddle Co and Spoonflower, a creative design platform based in the U.S., and their huge artist community. A special repeater pattern was designed by thousands of creatives for the first-ever limited-edition SUP (Stand Up Paddle).

Key Segments Profiled in the Stand Up Paddle Board Industry Survey

• By Product Type :

  • All-round SUP Board
  • Flatwater SUP Board
  • Race SUP Board
  • Surd SUP Board

• By Length :

  • < 9 Feet’s
  • 9 to 12 Feet’s
  • >12 Feet’s

• By Material Type :

  • PVC
  • Epoxy
  • Fiber Glass
  • Plastics

• By Board Type :

  • Surf SUP Board
  • Inflatable SUP Board

• By Application :

  • Surfing
  • Touring/Cruising
  • Racing
  • Fitness

• By Consumer Orientation :

  • Adults
  • Kids

• By Sales Channel :

  • Online Sales Channel
    • Direct to Customer
    • Third Party Online 
  • Franchised Sports Outlet
  • Retail Sports Outlet
  • Modern Trade Channel
  • Specialty Stores

• By Region :

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • MEA