Market Research Report
Surfing Equipment Market Size, Share & Trends Analysis Report By Product (Apparel & Accessories, Surfing Boards), By Distribution Channel (Online, Offline), By Region (APAC, North America), And Segment Forecasts, 2021 - 2028
|Surfing Equipment Market Size, Share & Trends Analysis Report By Product (Apparel & Accessories, Surfing Boards), By Distribution Channel (Online, Offline), By Region (APAC, North America), And Segment Forecasts, 2021 - 2028|
Published: September 6, 2021
Grand View Research, Inc.
Content info: 84 Pages
Delivery time: 2-10 business days
Surfing Equipment Market Growth & Trends
The global surfing equipment market size is anticipated to reach USD 5.47 billion by 2028, registering a CAGR of 4.4% over the forecast period, according to a new report by Grand View Research, Inc. The primary factor driving the market growth is the push by surfing equipment manufacturers, marketers, and associations to make surfing much more approachable than it has been in previous years. In addition, increased interest in surfing due to the growing focus of consumers on wellness and fitness will support the market growth. Over the years, surf tourism has had a considerable impact on the demand for surfing equipment and apparel.
In recent years, increased accessibility and affordability have attracted a large number of surfers from many demographic groups. Due to the use of wave pools for training, surfing has become more accessible to people who do not live near a beach. Surfers who can access these pools can train regardless of the weather and at any time of the day. Thus, an increasing number of wave pools has increased the demand for surfing equipment.
People are spending an increasing amount of money on surfing as the sport's culture grows. Surfers in the United States spend more than USD 3 billion on local surfing trips each year, according to Surf Park Central. The average surfer in the United States owns four different surfboards and spends 2.5 hours surfing per local season.
Surfing Equipment Market Report Highlights
The surfing boards segment accounted for the largest revenue share of more than 68% in 2020 and is projected to expand further at a steady CAGR over the forecast period
In recent years, surfing equipment has undergone different technological advancements, which will drive the product demand
For example, shark repellents have been introduced to the list of crucial equipment used by surfers
Surfers also like to completely cover their bodies to protect themselves from the sun, which will drive the demand for apparel and accessories
The online distribution channel segment accounted for the second-largest revenue share in 2020 and is estimated to ascend at the fastest CAGR of more than 5% over the forecast period
North America was the largest regional market in 2020; however, Asia Pacific will register the fastest CAGR from 2021 to 2028