France Stand Up Paddle Board Market is Expected to Grow at a 9% CAGR - States Fact.MR

NEW YORK, Jan. 13, 2022 /PRNewswire/ -- The global stand up paddle board market is expected to reach USD 1.5 billion in 2022 and USD 3.8 billion by 2032, with a CAGR of 9.7% between 2022 and 2032.

SUP boards were in high demand due to an increase in leisure sports activities in various places. As the market matures, a considerable number of young paddlers with a moderate income are entering the market. As a result, there will be more competition in the market, allowing producers to lower the price of SUP boards.

In 2020, the all round SUP board will account for a considerable amount of revenue, with a revenue share of more than 45 percent. Because of the increased consumer demand for all-around SUP, it is regarded the go-to paddle board.

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Sales of recreational water sports equipment are increasing as more people participate in recreational activities. According to the National Marine Manufacturers' Association, more than 180 million people in the United States participated in water sports events in 2019. (NMMA). Another element driving this market is the growing popularity of SUP boards among young people who enjoy adventure and leisure activities.

The solitude and quietness of a surfing trip are described as a source of satisfaction for surfers. Such endorsements from sports professionals provide SUP board manufacturers the boost they need to enhance their sales.

According to the study, stand up paddle boarding accounts for around 10% of all surfing activities undertaken in France. According to the French Surfing Federation, there are a total of 6,80,000 active surfers in France, who participate in all types of surfing.

In comparison to France, the United Kingdom has roughly 500 thousand wave surfers, while Germany has approximately 420 thousand. The global demand for stand up paddle boards is being boosted by the expanding surfing population in Europe.

Over the last half-decade, increased sports penetration has resulted in rising demand for sports equipment. This quality is luring in newcomers to the business, such as customers, suppliers, and distributors.

Key Takeaways:

• Europe is expected to account for nearly 30% of the global SUP board market.
• Japan Stand Up Paddle Board Market to reach a valuation of over USD 200 Million by 2032.
• By board type, inflatable SUP board is projected to grow at a CAGR of more than 9.5%.
• By material type, plastic SUP boards to account for 70% of the revenue share.

Growth Drivers:

• Rising demand for recreational sports activity to drive the SUP board market growth.
• Youngsters showing inclination towards adventure & leisure activities to propel the demand for SUP boards.

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Competitive Landscape

To increase global penetration in profitable areas, the above-mentioned players are employing a mix of inorganic and organic growth strategies, such as the introduction of new products, product modification, and constructive collaboration and partnership with small manufacturers or startups to boost sales, increase profitability, and keep up with current trends in the standup paddle board industry.

• In 2021, Blue Planet Surf announced the takeover of the management of Tropical Rush Store. This development is expected to rise the sales of its SUP board and the demand for the company's standup paddle board rental services.
• In 2019, Funky Sup released a new standup paddle board for youngsters that features 2D and 3D photographs of sea critters.
• In 2021, Dunn-rite Products introduced a new floral inflatable stand up paddle board, with a maximum weight capacity of 435 pounds and a 32-inch wide.

Key Players in the Stand Up Paddle Board Market are

• Ben Buckler Boards
• 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

More Valuable Insights on Stand Up Paddle Board Market

Fact.MR provides an unbiased analysis of stand up paddle board market, presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032. The study divulges compelling insights on the global stand up paddle board market with a detailed segmentation on the basis of:

• By Product Type:
• All-round SUP Board
• Flatwater SUP Board
• Race SUP Board
• Surf SUP Board
• By Length:
• <9 Feet's
• 9 to 12 Feet's
• >12 Feet's
• By Material Type:
• PVC
• Epoxy
• Fibre 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 Sport Outlet
• Retail Sports Outlet
• Modern Trade Channel
• Specialty Stores

Key Questions Covered in Stand Up Paddle Board Market Report

• The report offers insight into stand up paddle board market demand outlook for 2022-2032.
• The market study also highlights projected sales growth for stand up paddle board market between 2022 and 2032.
• Stand up paddle board market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry.
• Stand up paddle board market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others.

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Snowboard Equipment Market Scope - Due to strong demand in the sports industry, the worldwide snowboarding equipment market is likely to grow at a rapid pace. The increasing number of prospective athletes has resulted in a significant demand for snowboarding equipment from producers.

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