Stand-up Paddleboard Market size to grow by USD 108.21 million | Growing adoption of surfing in adventure tourism to drive growth | Technavio

NEW YORK, March 4, 2022 /PRNewswire/ -- According to the research report "Global Stand-up Paddleboard Market by Product, Distribution Channel, and Geography - Forecast and Analysis 2021-2025", the market witnessed a YOY growth of 5.09% in 2021, and the growth will accelerate a CAGR of 6% between 2020 and 2025. The report is segmented by product (inflatables and hardboards), distribution channel (sports goods retailers, department stores, and online retailers), and geography (North America, Europe, APAC, South America, and MEA).

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Vendor Insights 

Global stand-up paddleboard is highly fragmented due to the presence of many global and regional players. Global players are focusing on establishing a strong footprint across geographies by increasing the distribution of their products and introducing high-quality stand-up paddleboards. Similarly, well-established vendors are trying to remain competitive and occupy a major portion of the market by establishing a strong customer base.

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

• Airhead Sports Group
• Boardworks Surf and Sup.
• Cascadia Board Co.
• LAIRDSTANDUP
• Red Paddle Co.
• Starboard
• SUP ATX LLC
• Tahe Outdoors France SASU
• Tower
• Wenonah Canoe

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Geographical Market Analysis 

North America will provide maximum growth opportunities for stand-up paddleboard manufacturers during the forecast period. According to our research report, the region will contribute to 38% of the global market growth and is expected to dominate the market through 2025. Factors such as the growing interest in recreational sports activities, an increasing number of overseas and domestic tourists, rapid growth in surfing championships and events, and the presence of prominent vendors are driving the growth of the stand-up paddleboard market in North America.

The US and Canada are the two major markets for stand-up paddleboards in North America. The growth of inbound tourism in the US is one of the major factors boosting the demand for surfing. Similarly, in Canada surfing has gained significant popularity owing to the increasing tourism in the country.

On the other hand, APAC will emerge as the fastest-growing region for the stand-up paddleboard market. Participation in stand-up paddleboarding is increasing in countries such as China, India, and Indonesia. China is emerging as a major manufacturer of stand-up paddleboards and it also exports them to western countries. Moreover, many beaches across Australia's coastline offer stand-up paddleboarding activities, such as paddling in calm waters, surfboarding, SUP yoga classes, and SUP lessons and exercises. All these factors are increasing the demand for stand-up paddleboards in APAC.

Furthermore, countries such as France, Germany, and Australia are expected to emerge as prominent markets for stand-up paddleboards during the forecast period. 

Know more about this market's geographical distribution along with the detailed analysis of the top regions. https://www.technavio.com/report/stand-up-paddleboard-market-industry-analysis

Key Segment Analysis

The stand-up paddleboard market share growth by the inflatables segment will be significant during the forecast period. Inflatable stand-up paddleboards cost less than hardboard stand-up paddleboards, which is one of the key factors driving the segment's growth. They are highly popular among first-time stand-up paddleboarding participants, beginners, SUP rental stores, and training schools. They are also durable, offer portability, and require less storage space. All these factors are driving the growth of the segment.

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Key Market Drivers & Challenges: 

The stand-up paddleboard market is primarily driven by the growing adoption of surfing in adventure tourism. The demand for adventure activities is gaining popularity with the rapid growth of the millennial population, growing disposable income, and increasing popularity of adventure tourism. To capitalize on this growing consumer interest, most travel agencies across the globe are offering a wide range of adventure activities in their tour packages to attract customers. Stand-up paddleboard is one of the commonly adopted adventure activities owing to the reduced risk of accidents. Therefore, with the growing adoption of surfing in adventure tourism, the demand for stand-up paddleboards is expected to increase during the forecast period.

However, the increasing competition from low-cost vendors will reduce the growth opportunities for vendors. The market is saturated with several low-quality manufacturing companies that primarily compete on product pricing. These companies provide products at extremely competitive rates to attract more customers. But most of these products fail to meet industry standards in terms of materials used and process quality. The influx of such products will have a negative impact on the growth of the market.

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Table of Contents:

1. Executive Summary                           

2. Market Landscape                             

                2.1 Market ecosystem             

                                Exhibit 01:  Parent market

                2.2 Market Characteristics      

                                Exhibit 02:  Market Characteristics

                2.3 Value chain analysis           

                                Exhibit 03:  Leisure Products

                                2.3.1 Inputs 

                                2.3.2 Inbound logistics

                                2.3.3 Operations

                                2.3.4 Outbound logistics

                                2.3.5 Marketing and sales 

                                2.3.6 Service 

                                Support activities 

                                Innovations 

3. Market Sizing                       

                3.1 Market definition

                                Exhibit 04:  Offerings of vendors included in the market definition

                3.2 Market segment analysis 

                                Exhibit 05:  Market segments

                3.3 Market size 2020 

                3.4 Market outlook: Forecast for 2020 - 2025 

                                Exhibit 06:  Global - Market size and forecast 2020 - 2025 ($ million)

                                Exhibit 07:  Global market: Year-over-year growth 2020 - 2025 (%)

4. Five Forces Analysis                          

                4.1 Five Forces Summary        

                                Exhibit 08: Five forces analysis 2020 & 2025

                4.2 Bargaining power of buyers           

                4.3 Bargaining power of suppliers       

                4.4 Threat of new entrants    

                4.5 Threat of substitutes         

                4.6 Threat of rivalry   

                4.7 Market condition

                                Market condition - Five forces 2020

5. Market Segmentation by Product               

                The segments covered in this chapter are: 

• Inflatables 
• Hardboards 

The two segments have been ranked based on their market size in 2020. The inflatables segment constituted the largest segment in 2020, while the smallest segment was hardboards.

                5.1 Market segments

                                Exhibit 15: Product - Market share 2020-2025 (%)

                5.2 Comparison by Product    

                                Exhibit 16: Comparison by Product

                5.3 Inflatables - Market size and forecast 2020-2025   

                                Exhibit 17: Inflatables - Market size and forecast 2020-2025 ($ million)

                                Exhibit 18: Inflatables - Year-over-year growth 2020-2025 (%)

                5.4 Hardboards - Market size and forecast 2020-2025 

                                Exhibit 19: Hardboards - Market size and forecast 2020-2025 ($ million)

                                Exhibit 20: Hardboards - Year-over-year growth 2020-2025 (%)

                5.5 Market opportunity by Product    

                                Exhibit 21: Market opportunity by Product

6. Market Segmentation by Distribution channel                     

                The segments covered in this chapter are: 

• Sports goods retailers 
• Department stores 
• Online retailers

The segments that will exhibit a growth rate faster than that of the overall market have been termed as fast-growing segments, and those that will lag behind the overall market have been termed as slow-growing segments. In a zero-growth environment, the segments with the least reduction in market size will be classified as fast-growing segments. 

                6.1 Market segments

                                Exhibit 22: Distribution channel - Market share 2020-2025 (%)

                6.2 Comparison by Distribution channel           

                                Exhibit 23: Comparison by Distribution channel

                6.3 Sports goods retailers - Market size and forecast 2020-2025             

                                Exhibit 24: Sports goods retailers - Market size and forecast 2020-2025 ($ million)

                                Exhibit 25: Sports goods retailers - Year-over-year growth 2020-2025 (%)

                6.4 Department stores - Market size and forecast 2020-2025  

                                Exhibit 26: Department stores - Market size and forecast 2020-2025 ($ million)

                                Exhibit 27: Department stores - Year-over-year growth 2020-2025 (%)

                6.5 Online retailers - Market size and forecast 2020-2025          

                                Exhibit 28: Online retailers - Market size and forecast 2020-2025 ($ million)

                                Exhibit 29: Online retailers - Year-over-year growth 2020-2025 (%)

                6.6 Market opportunity by Distribution channel            

                                Exhibit 30: Market opportunity by Distribution channel

7. Customer landscape                         

Technavio's customer landscape matrix comparing Drivers or price sensitivity, Adoption lifecycle, importance in customer price basket, Adoption rate and Key purchase criteria

                                Exhibit 31: Customer landscape

8. Geographic Landscape                     

                The regions covered in the report are: 

• North America 
• Europe 
• APAC
• South America 
• MEA

North America was the largest region of the market in 2020 and would continue to be the largest segment of the market in 2025. It would grow at a compounded annual growth rate of around 5% between 2020 and 2025, which is slower than the overall market

                8.1 Geographic segmentation

                                Exhibit 32: Market share by geography 2020-2025 (%)

                8.2 Geographic comparison   

                                Exhibit 33: Geographic comparison

                8.3 North America - Market size and forecast 2020-2025          

                                Exhibit 34: North America - Market size and forecast 2020-2025 ($ million)

                                Exhibit 35: North America - Year-over-year growth 2020-2025 (%)

                8.4 Europe - Market size and forecast 2020-2025          

                                Exhibit 36: Europe - Market size and forecast 2020-2025 ($ million)

                                Exhibit 37: Europe - Year-over-year growth 2020-2025 (%)

                8.5 APAC - Market size and forecast 2020-2025             

                                Exhibit 38: APAC - Market size and forecast 2020-2025 ($ million)

                                Exhibit 39: APAC - Year-over-year growth 2020-2025 (%)

                8.6 South America - Market size and forecast 2020-2025           

                                Exhibit 40: South America - Market size and forecast 2020-2025 ($ million)

                                Exhibit 41: South America - Year-over-year growth 2020-2025 (%)

                8.7 MEA - Market size and forecast 2020-2025              

                                Exhibit 42: MEA - Market size and forecast 2020-2025 ($ million)

                                Exhibit 43: MEA - Year-over-year growth 2020-2025 (%)

                8.8 Key leading countries        

                                Exhibit 44: Key leading countries

                8.9 Market opportunity by geography

                                Exhibit 45: Market opportunity by geography ($ million)

9. Drivers, Challenges, and Trends                   

                9.1 Market drivers     

                                9.1.1 Growing adoption of surfing in adventure tourism

                                9.1.2 Increasing number of surfing contests 

                                9.1.3 Growing use of SUP for yoga and other leisure activities

                9.2 Market challenges              

                                9.2.1 Competition from low-cost vendors 

                                9.2.2 Rising fatalities during paddleboarding

                                9.2.3 High costs coupled with increasing preference for rental SUPs 

                                Exhibit 46: Impact of drivers and challenges

                9.3 Market trends      

                                9.3.1 Innovations in SUPs 

                                9.3.2 Rising demand for distribution through online channels and retailers

9.3.3 Improvements in weather training and technology to encourage adoption of paddle sports 

10. Vendor Landscape                           

                10.1 Competitive scenario      

                10.2 Vendor landscape            

                                Exhibit 47: Vendor landscape

                10.3 Landscape disruption      

The potential for the disruption of the market landscape was moderate in 2020, and its threat is expected to remain unchanged by 2025. 

                                Exhibit 48: Landscape disruption

                10.4 Industry risks      

                                Exhibit 49: Industry risks

11. Vendor Analysis               

                11.1 Vendors covered              

                                Exhibit 50: Vendors covered

                11.2 Market positioning of vendors    

                                Exhibit 51: Market positioning of vendors

                11.3 Airhead Sports Group     

                                Exhibit 52:  Airhead Sports Group - Overview

                                Exhibit 53:  Airhead Sports Group - Product and service

                                Exhibit 54:  Airhead Sports Group - Key offerings

                11.4 Boardworks Surf and Sup.             

                                Exhibit 55:  Boardworks Surf and Sup. - Overview

                                Exhibit 56:  Boardworks Surf and Sup. - Product and service

                                Exhibit 57:  Boardworks Surf and Sup. - Key offerings

                11.5 Cascadia Board Co.          

                                Exhibit 58:  Cascadia Board Co. - Overview

                                Exhibit 59:  Cascadia Board Co. - Product and service

                                Exhibit 60:  Cascadia Board Co. - Key offerings

                11.6 LAIRDSTANDUP

                                Exhibit 61:  LAIRDSTANDUP - Overview

                                Exhibit 62:  LAIRDSTANDUP - Product and service

                                Exhibit 63:  LAIRDSTANDUP - Key offerings

                11.7 Red Paddle Co.  

                                Exhibit 64:  Red Paddle Co. - OverviewP - Overview

                                Exhibit 65:  Red Paddle Co. - Product and service

                                Exhibit 66:  Red Paddle Co. - Key offerings

                11.8 Starboard            

                                Exhibit 67:  Starboard - Overview

                                Exhibit 68:  Starboard - Product and service

                                Exhibit 69:  Starboard - Key offerings

                11.9 SUP ATX LLC        

                                Exhibit 70:  SUP ATX LLC - Overview

                                Exhibit 71:  SUP ATX LLC - Product and service

                                Exhibit 72:  SUP ATX LLC - Key offerings

                11.10 Tahe Outdoors France SASU      

                                Exhibit 73:  Tahe Outdoors France SASU - Overview

                                Exhibit 74:  Tahe Outdoors France SASU - Product and service

                                Exhibit 75:  Tahe Outdoors France SASU - Key offerings

                11.11 Tower

                                Exhibit 76:  Tower - Overview

                                Exhibit 77:  Tower - Product and service

                                Exhibit 78:  Tower - Key offerings

                11.12 Wenonah Canoe            

                                Exhibit 79:  Wenonah Canoe - Overview

                                Exhibit 80:  Wenonah Canoe - Product and service

                                Exhibit 81:  Wenonah Canoe - Key offerings

12. Appendix                            

                12.1 Scope of the report         

                                12.1.1 Market definition

                                12.1.2 Objectives

                                12.1.3 Notes and caveats

                12.2 Currency conversion rates for US$            

                                Exhibit 82: Currency conversion rates for US$

                12.3 Research Methodology 

                                Exhibit 83: Research Methodology

                                Exhibit 84: Validation techniques employed for market sizing

                                Exhibit 85: Information sources

                12.4 List of abbreviations        

                                Exhibit 86: List of abbreviations

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