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Bodyboard Market

Bodyboard Market

Bodyboard Market Analysis, By Type (Conventional, Tandem Bodyboards), By Buyer (Recreational/Hobbyists, Professionals), By Sales Channel (Offline Sales, Online Sales), By Region - Global Market Insights 2022 to 2032

Bodyboard Market
FACT778MR
  • Jul-2022
  • List of Tables : 56
  • List of Figures : 199
  • 170 Pages
  • Sports

Bodyboard Market Outlook (2022-2032)

The global bodyboard market is set to enjoy a valuation of US$ 255 million in 2022 and expand at a CAGR of 6.8% to reach US$ 493.1 million by the end of 2032.

It is challenging for new players to enter the bodyboard market as it takes a substantial amount of technological innovation and cost to set up a strong and reliable brand name. A significantly large investment is required to establish a production facility and distribution network to gain a sizeable market share.

The bodyboard market is highly fragmented in terms of suppliers and service providers, allowing manufacturers as well as consumers to switch to a provider as per their convenience. To capture a higher market share, manufacturers are focusing on product pricing by lowering operating costs and providing extensive margins to distributors.

Report Attributes

Details

Bodyboard Market Size (2021A)

US$ 240 Million

Estimated Market Value (2022E)

US$ 255 Million

Forecasted Market Value (2032F)

US$ 493.1 Million

Global Market Growth Rate (2022-2032)

6.8% CAGR

North America Market Share (2021)

~38%

North America Market Growth Rate (2022-2032)

~7.5% CAGR

U.S. Market Growth Rate (2022-2032)

~7.7% CAGR

Market Share of Top 5 Companies

~22.4%

Key Companies Profiled

  • Agit Global
  • ALDER SPORTSWEAR LTD
  • AZTRON
  • Bodyboard HQ
  • BZ Pro Board
  • Catch Surf USA
  • CORE Bodyboards
  • ES Water Sports
  • Hardy Shapes
  • Hubboards
  • Manta
  • Mike Stewart Inc.
  • Morey BodyBoards
  • Nomad Bodyboards
  • Sniper Bodyboards
  • Softech Europe
  • South Bay Board Co.
  • TANDM SURF
  • Tiki Surf
  • Vision Softboards

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Sales Analysis of Bodyboards (2017-2021) Vs. Market Outlook (2022-2032)

An increasing number of surfing enthusiasts across the world, either through participatory sports from time to time or sports memberships for regular strength training, is driving the market for bodyboards positively.

Manufacturers are investing in developing efficient bodyboard material types. Market players such as Alder Sportswear Ltd and Aztron have launched newer products with improved lengths and high product performance.

It is anticipated that long-term relations with sports authorities and collaborative approaches for developing newer environment-friendly bodyboards could open up revenue-generating opportunities for market players in the future.

  • Short Term (2022 Q2 to 2025): Collaborate with sports and surfing equipment stores to establish a brand name in the market.
  • Medium Term (2025-2028): North America and Europe anticipated to witness high bodyboard demand due to increasing recreational users and rising tourism.
  • Long Term (2028-2032): Prominent manufacturers to concentrate on strategic partnerships with rental service providers and signing high-profiled sports players.

Over the 2017-2021 period, global bodyboard sales increased at a CAGR of 3.5%. As per findings by Fact.MR, a market research and competitive intelligence provider, the market is projected to surge ahead at 6.8% CAGR between 2022 and 2032.

Bodyboard market forecast by Fact.MR

Market share analysis of bodyboards based on type and region is provided in a nutshell in the above image. Under the type segment, conventional bodyboards dominate with 57.7% market share in 2022.

What’s Driving Increased Demand for Bodyboards?

“Rental Services Offered to Short-Term Customers Generating Higher Profits”

Competition in the market makes it hard for businesses to survive in the dynamic environment. To gain a competitive edge over other companies, market players have started offering rental services to short-term customers to generate higher profits.

Bodyboard manufacturers are targeting prominent rental service providers that deal in surfing equipment and have a deep-rooted client base in the area where they operate. Several companies are opting for this business model to expand their service offerings across countries.

“International Events Such as Olympics & World Surf League to Result in More Popularity”

Increasing government spending on sports to boost their performance in competitions such as the Olympics and the World Surf League will drive market demand.

World-leading economies in North America and Europe are spending millions of dollars on recreational events to train their players in such activities. Increasing sports penetration has resulted in the growing popularity of the sport, and consequently higher demand for the equipment needed in the same.

All of this is attracting newcomers to the industry, whether it is buyers, suppliers, or distributors of bodyboards.

“Increasing Entry of Novices and Rising Product Exposure through Trade Shows”

The trend of easy accessibility of bodyboards to participants at the novice level continues to augment the sales of bodyboards, consequently furthering the growth of the market.

Sports associations are focusing on organizing trade shows to enhance the popularity of the sport. The target end-user segment of the bodyboard market is recreational users or explorers. These are customers who are open to adopting new products and brands without much hassle.

Since the attribute of the product makes customers stick to a particular brand, key market players are majorly focusing on design and comfort to capture a substantial market share.

An Adaptive Approach to Modern-day Research Needs

Country-Wise Analysis

Why are Sales of Bodyboards High in the U.S.?

International travel plays a vital role in the United States’ economy. In 2019, international tourists spent around US$ 233.5 billion and contributed approximately US$ 640 million a day to the economy of the United States.

People usually visit coastal areas to explore recreational activities, and bodyboard surfing is one of them. Bodyboards are usually preferred due to their compactness and portability, which occupy less space as compared to surfboards.

U.S. brands need to invest or explore not just divesting non-core assets but also investing in higher returns and value-added opportunities. Technology progress and consumer preference may shape how the bodyboard market grows over the forecasted period. However, manufacturers opting for a new business model to diversify their product portfolios and maintain a competitive edge.

The United States bodyboard market is anticipated to expand rapidly at a CAGR of 7.7% and reach US$ 177.4 million by 2032.

How is the Italy Market Benefitting Bodyboard Manufacturers?

Rising participation in water sports in Italy has led to immense opportunities for bodyboard suppliers. An upsurge in consumer spending on popular recreational sports is indirectly influencing the bodyboard market.

Major market players are adopting several tactics to expand their client base and market share, including improved build quality of boards, enhanced stability, and development of new materials. Some of them are collaborating with players to sponsor their products and advertise them in events to increase the reach of the products across other countries.

Bodyboard companies are focusing on diversification in product offerings with a blend of high product performance and durability.

The Italy bodyboard market is expected to expand at a CAGR of 8.4% and reach a market valuation of US$ 36.3 million by the end of 2032.

Category-Wise Analysis

Why Should Bodyboard Suppliers Target Recreational Users?

Demand for bodyboards from recreational users is anticipated to increase at 7.3% CAGR during the assessment period.

Bodyboarding is considered a recreational activity, hence, the pricing of these boards needs to be affordable for all customers. Features such as customizing the size, design, and adding photos will further increase the demand for the product. Bodyboards that are longer, sleeker, and more efficient are easy to handle in higher waves.

Overall, recreational users are anticipated to remain the prime growth generators in the bodyboard market during the forecast period. The segment is predicted to reach US$ 331.0 million by 2032.

Is Online Sales of Bodyboards the Way Ahead?

Creating a website is less expensive than opening a physical store, and companies can reach more clients online across the world by partnering with e-Commerce websites that have huge client bases across countries.

Online sales channels currently account for 58.1% market share and are estimated to generate US$ 148.3 million in value in 2022. In addition, the e-Commerce websites sub-segment is expected to create an absolute dollar opportunity of US$ 160.1 million by the end of the assessment period.

Furthermore, inventory holding cost is reduced on an online platform and later that amount can be used for the research & development of new materials and technology.

Competitive Landscape

Prominent bodyboard manufacturers are Agit Global, Alder Sportswear Ltd, Aztron, Bodyboard HQ, BZ Pro Board, Catch Surf USA, Core Bodyboards, ES Water Sports, Hardy Shapes, Hubboards, Manta, Mike Stewart Inc., Morey Bodyboards, Nomad Bodyboards, Sniper Bodyboards, Softech Europe, South Bay Board Co., TANDM SURF, Tiki Surf, and Vision Softboards.

Bodyboard brands should focus on new product development and innovative designs to provide a smooth ride over waves. Rental services is another trending business model due to the high generation of revenue and low customer acquisition cost.

Fact.MR has provided detailed information about the price points of key manufacturers of bodyboards positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.

Segmentation of Bodyboard Industry Research

  • Bodyboard Market by Type :

    • Conventional Bodyboards
      • 30.1" to 35"
      • 35.1" to 40"
      • 40.1" to 45"
      • Greater Than 45"
    • Tandem Bodyboards
  • Bodyboard Market by Buyer :

    • Recreational/Hobbyists
    • Professionals
  • Bodyboard Market by Sales Channel :

    • Offline Sales Channels
      • Modern Trade
      • Sports Equipment Stores
      • Surfing Equipment Stores
      • Water Sports Stores
      • Brand Stores
    • Online Sales Channels
      • Company Websites
      • e-Commerce Platforms
  • Bodyboard Market by Region :

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

- FAQs -

The global bodyboard market is currently valued at US$ 255 million.
Bodyboard sales are expected to increase at a CAGR of 6.8% through 2032.
Conventional bodyboards are immensely popular due to their enhanced aerodynamic design.
Demand for bodyboards increased at 3.5% CAGR during 2017-2021.

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