Stand up paddle (SUP) boarding industry will continue to march progressively forward, driven by new developments and technologies coming thick and fast.
The Outdoor Industry Association stated that over 3 Mn individuals participated in the sport in North America and Latin America combined.
Stand up paddle board manufacturers are responding accordingly, while the industry rides high on the barreling wave of enthusiasm.
Recent studies have demonstrated that early adopters who purchase high-performance, expensive gear are gradually giving way to popular consumers at low-price point.
As the paddle boarding industry matures, young paddlers with moderate income are foraying the market in large numbers, which in turn will lead the industry to perceive downward pressure regarding price points.
Fact.MR’s new analytical report envisages the global market for stand up paddle board to record a notable 11.9% value CAGR between the period of forecast 2018 and 2028.
Stand Up Paddle Board Manufacturers taking User-Friendly Hands On Approach for Boosting Sales
With rapid progress in stand up paddle board developments, product designers and manufacturers are currently taking a “user-friendly hand-on” approach, in a bid to bring novel products designed specifically for novice end consumers.
This is further expected to facilitate accessibility of consumers to the sport. This is unlike the trend in the past, wherein watersports such as windsurfing illustrated a robust decline on account of product developments focused toward elite users.
Progression of carbon materials with high young’s modulus has been complementing the development of lighter yet stiffer racing stand up paddle boards.
Technology advancement is gaining greater emphasis as the industry matures, and brands are discovering and incorporating stand up paddle board-specific materials, such as the Red Paddle Co.’s MSL technology.
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Tradeshow Endorsements by Sports Associations to Augur Well for SUP Board Sales
According to analysis of the report on the brands operating in the stand up paddle board market, the ongoing trend of high accessibility of boards to entry-level participants, and increased focus on gear will continue to augment the market’s growth.
Increased momentum of high-performance stand up paddle boards with the option of flex, which are becoming a vital part of the equipment, is a key implication of enthusiasts’ focus toward gear.
Leading sports associations are taking efforts toward enhancing the popularity of SUP boarding, by endorsing trade shows.
For example, the SUP Industry Association (SUPIA) in the U.S. endorses two annual shows of Surf Expo in Orlando and the Summer Market of Outdoor Retailer in Salt Lake City.
Additionally, in Europe, Germany’s Paddle Expo has been gaining immense momentum since the recent past, and is currently on the cusp of becoming the leading SUP Tradeshow in the region.
Such endorsements will result in increased participation in the sport, thereby boding well for stand up paddle board sales.
The stand up paddle boarding industry is no more at its infancy stage, as it perceives robust growth benefitting from past watersports industries’ insights regarding imperativeness of foresight.
A lengthy & bright future is associated with the SUP industry, with experience players sharing a common agenda of ensuring every new participant leaves with positive experience.
This will significantly influence participation in the sport, and fuel sales of stand up paddle board in the near future.
Stand Up Paddle Board Market Scope Of The Report
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.
A recently compiled Fact.MR study propounds a ten-year forecast on stand up paddle board market for the period between 2018 and 2028.
This all-inclusive and holistic research examines stand up paddle board market in detail, providing an exhaustive analysis on key factors impacting present as well as future growth of the market.
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.
Competitive Landscape Assessment
This research study profiles business strategies employed by leading participants in the market, and exerts comprehensive insights that enable established and emerging players in devising effective growth strategies.
The chapter on competitive landscape tracking is of paramount importance for the market participants who seek gleaning in-depth insights into current market status quo.
Prominent companies participating in the stand up paddle board market, such as Red Paddle, Tower Paddle Boards, Clear Blue Hawaii, Solstice Sports, and Starboard, have been profiled in the report.
A scrutinized SWOT analysis has also been rendered by the report, which imparts strengths, weaknesses, opportunities, and threats to these market players.
Intelligence apropos of new product developments, impact of regulatory changes, and mergers & acquisition activities of the market players has also been contained for perusal of the report readers.
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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Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
What research methodology is followed by Fact.MR?
Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
What are the sources of secondary research?
Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.
Who are the respondents for primary research?
Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.
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