The extensive growth can be attributed to the rapidly enhancing tourism industry accelerating the demand for stand-up paddle boards. Constant developments to cater to the needs of consumers redesigning the product is driving the growth of the stand-up paddle boards market.
Increasing indulgence of consumers in adventurous activities are the primary drivers as paddle boards are used in activities associated with cruising in lakes, rivers, and oceans. Hence the global stand-up paddle board market revenue is anticipated to experience significant growth with an estimated market size of 112 million by 2028 registering a modest CAGR valuation of 8% through the estimated projected timeframe, 2021-2028
In addition, advancing research focused on developing technologically equipped product is expected to fuel the growth of the stand-up paddle boards market. Vulnerabilities in supply chain operations more specifically in the initial phase of the COVID-19 outbreak has constricted free-flowing growth. However, the threat has been temporary as a massive paradigm shift in the distribution networks on the back of e-commerce has paved novel growth opportunities. These opportunities are rife and are expected to expedite future trade in the global stand-up paddle board market.
Stand-up paddle boards are equipment used in stand-up paddle boarding or SUP which is a water sports, spun off from surfing. The paddle boards used in the water sport are a combination of kayaking and surfing with wider, light weight, longer, and more buoyant characteristics. SUP is a relatively modern water sport that originated in Hawaii. SUP has become a lifestyle for many Hawaiians, attracting tourists for the water sports.
Stand-up paddle board activities are growing highly popular among young tourists worldwide. Enthusiasts and experts believing in stand-up boards (SUP) community are expanding user experience and are trying to involve more people to experience the idea of walking on water. SUP has extended its community through travel groups, online pages, blogs, and training activities that involve tourists in fun paddle boarding activities. Global stand-up paddle board market players consist of large-scale manufacturers along with new market entrants with business in infancy stage applying new strategies and approaches to scale-up the business. With rapidly evolving competitive landscape, surge in new entrants coupled with constant product upgradation initiatives have directed market consolidation in recent times.
The major players of the global stand-up paddle boards market are Laird Stand-up, Sun Dolphin Boats, Sea Eagle Boats, Red Paddle, Clear Hawaii Corp, Northwest River Supplies, Slingshot Sports, F-ONE, Coreban, LLC, Rave Sports, EXOCET- ORIGINAL, C4 Waterman, BIC Sport Stand-up Paddle, Boardworks Surf & SUP, and Tower Paddle Boards. The stand-up paddle board market consists of large-scale and well-established players along with local players. The previously recognised market players are placed alongside the local market participants.
Stand Up Paddle Boards Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 112 million|
|Growth Rate||CAGR of 8% during 2021-2028|
|Segment Covered||Type,Length, End-User, Application, Distribution, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||Laird Stand-up, Sun Dolphin Boats, Sea Eagle Boats, Red Paddle, Clear Hawaii Corp, Northwest River Supplies, Slingshot Sports, F-ONE, Coreban, LLC, Rave Sports, EXOCET- ORIGINAL, C4 Waterman, BIC Sport Stand-up Paddle, Boardworks Surf & SUP and Tower Paddle Boards.|
Key Segments of the Global Stand-up Paddle Boards Market
Type Overview, 2021-2028 (USD Million)
- Solid SUP Boards
- Inflatable SUP Boards
Length Overview, 2021-2028 (USD Million)
- Less Than 10 Feet
- 10 Feet-11 Feet
- More Than 11 Feet
End-User Overview, 2021-2028 (USD Million)
Application Overview, 2021-2028 (USD Million)
- Flat-Water or Touring
Distribution Overview, 2021-2028 (USD Million)
- Specialty Stores
- Retail Stores
Regional Overview, 2021-2028 (USD Million)
- Rest of Europe
- Rest of Asia-Pacific
- Rest of Latin America
Middle East & Africa
Reasons for the study
- Primary goal of the study is to provide a holistic and exhaustive research representing the global stand-up paddle board market outlook. The report is aimed at helping readers upgrade their strategies against competitors.
- Ensure competitive edge is maintained amidst the reshaping global market driven by the initiatives of key market players.
What does the report include?
- The study on the global stand-up paddle board market encompasses industry valuation along with qualitative components including the market drivers, restrains, and opportunities
- The report covers a thorough assessment of the competitive environment determining the significant role of historic and young players along with specific strategic initiatives enhancing product portfolio
- The study also provides a detailed market segmentation based on factors such as type, length, end-user, application and distribution for which qualitative and quantitative analysis is conducted
- The study also covers a similar analysis of the key market geographies
- Accurate estimations of market sizes and forecasts for the mentioned market segments is provided
Who should buy this report?
- The report on global stand-up paddle board market is informative and has higher relevance to the market participants including vendors, distributors, manufacturers along with other intermediaries
- Business explorers and investors seeking insights of the future opportunistic landscape of the global stand-up paddle board market
- Consumers as well as marketers looking for latest industry updates and insights on product specifications and trends associated with the current stand-up paddle board market
Increasing product development initiatives and innovations in stand-up paddle boards is one of the major driving factors boosting the growth of global stand-up paddle board market. In addition, rising demand experienced by online channels as well as retailers coupled with improvements in the water sport management is further accelerating the adoption of paddle board sports which is expected to cause massive rise in demand over the forecast period. Paddle-boarding being a water sports variety is heavily dependent on weather conditions and climatic conditions for conducting activities. With advancing technologies that are elevating the efficiency of weather training, the sport is expected to grow in terms of popularity, traction as well as activity. Stand-up paddle board market is also heavily driven by the extensive use of SUP by pilates and yoga experts. SUP is anticipated to expand its territorial limits thereby fuelling the demand for stand-up paddle boards market throughout the forecast years. With adventure tourism gaining substantial attention by the resumed tourism sector worldwide after COVID-19, water sports are estimated to start conducting tourist training activities on a large-scale. Research in the fields of product development is also a major factor providing lucrative growth for the global stand-up paddle board market with advancing concepts over making the product highly sustainable.
In terms of type, the market is dissected into inflatable SUPs and solid SUP boards. With advantages such as better durability, lighter weight built, portability, injury prevention and versatility, the inflatable SUP board segment accounted for majority market share in 2021 and is expected to experience accelerated demand for their use in leisure activities. The rising adoption of solid SUP boards in surfing and racing requiring technical characteristics is anticipated to grow over the forecast period.
Length Type Segment
Based on length, the market provides boards less than 10 feet, ranging from 10 to 11 feet and more than 11 feet. Based on the type of activity, condition of weather and nature of the water body, a particular length of paddle board is chosen. The demand for longer paddle boards is estimated to grow substantially with adventure tourism water sports and contests that require faster speed, thus triggering greater demands and revenue maximization in more than 11 feet length segment of stand-up paddle board industry. Recreational activities are considered to drive the demand for shorter paddle boards that are easy to manoeuvre.
In terms of end-user, the market is categorised into three consumer types including men, women, and kids. With rapidly evolving adventure tourism young adults are increasingly involved in local sports driving the SUP market. The rising preference by women and men to go on a vacation escaping the hectic lifestyle is also expected to accelerate the end-user involvement in driving the demand
In terms of application, the market provides four major segments including, racing, flat-water or touring, surfing, all-round and others. Surfing has largely dominated the market segment with extensive use of SUP. With growing adoption of paddle boards in leisure activities, flat water and touring segment is also expected to grow over the forecast period. Racing is one of the major contributors to the increasing SUP demand as contests lead to the search for best products.
Distribution channel segment
Based on the distribution channel, the market is classified into online and offline channels, the later includes supermarkets or hypermarkets, retail stores and specialty stores. Expanding eCommerce is expected to propel the online sales of SUP whereas the offline channels will hold a significant share as tourists often tend to purchase equipment locally. Supermarket and hypermarkets are considered to increase the sales by displaying multiple choices for enthusiasts.
North America dominates the stand-up paddle board market with the roots of the water sport in the region. The region has substantial scope for enhancing the demand and adoption of SUP owing to the strong prevalence of paddle-boarding contests and increasing number of enthusiasts. Stand-up paddle board market is also gaining immense popularity in the regions of Asia Pacific across countries such as India, Thailand, and China with flourishing adventure tourism.
Younger generation is growing more aware of the global trends driving the demand for SUPs across these regions. Asia Pacific is estimated to grow exponentially with extensive stand-up paddle board demand over the forecasted period. Europe has a diverse tourism culture with large manufacturers indulging in expanding the portfolio of sports equipment boosting the market growth.