SUP Boards Market has been driven by the increase in sports activities. People consider sports to be good for health and have diverse interests which are driving the growth of the market. There is an increase in investment by the government in the production of sports tools which is another factor leading to the growth of the market. This industry is experiencing newcomers and a rise in participation.
There is a need to enlarge the market as it helps people to be confident with water. People enjoy with their friends and family along with gaining experience of new sports. It helps people to be in the fresh air. It helps to make people active and along with this, it brings a number of health benefits to people who play this sport.
SUP Boards Market has a few amazing benefits as a rise in focus on gear leads to a rise in the market. It helps to reduce the level of stress and makes you more comfortable with water. It brings a number of health benefits along with the loss of weight if you play this sport on a regular basis. It helps you become good with balance and helps you get on your feet.
SUP Boards is an offshoot of surfing which was originated in Hawaii. These boards make use of paddles to propel themselves through water and waves.
In 2021, the size of the SUP Boards Market was USD 1.45 Billion whereas it has been predicted that the size of the market of SUP Boards Market by 2031 will be USD 6.08 Billion and the expected Compound Annual Growth Rate (CAGR) is 9.71% in the upcoming years of the forecast period.
There are some limitations for the SUP Boards market such as the price of these boards being high which restricts their purchase. Also, the use of boards by people who lack in skills to use these boards is also hampering the growth of the market. People are unable how to make use of these boards and without having proper knowledge they use them. Also, it seems simple to use but it requires a lot of practice.
The study report gives an analysis with full details of various leading SUP Boards Market vendors, which Airhead Sports Group, c4 Waterman, F- one SUP, Sun Dolphin, NRS, BIC Sport, RED Paddle, Sea Eagle, Laird StandUp, Rave Sports, Tower Paddle Boards, Hobie, Wenonah Canoe, and more. Likewise, the research study of the SUP Boards Market contains details on trends that are upcoming, opportunities, scope, and extortions that will hamper the procedure of the market or firm. This research study is full of data and information in order to give sustenance to firms to misuse and strategize on any upcoming opportunities which are linked to the growth of the market.
SUP Boards Market by Type (Solid SUP Boards Segment)
Based on Type, it has been analyzed that solid SUP Boards hold a major part of the market and it is expected that this segment will grow in the upcoming years in the forecast period. There is a rise in demand for solid SUP Boards as they are extensively used for the purpose of surfing which is becoming a trend these days.
SUP Boards Market by Application (Surf Segment)
Based on the Application, it has been analyzed that the segment of surf holds a major part of the market and it is also expected that it will grow in the upcoming years of the forecast period. This is rising in demand as surfing is becoming a popular sport. It is also expected that racing will also show in a rise in the upcoming years of the forecast period.
SUP Boards Market based on Distribution Channel (Sports Goods Retailers Segment)
Based on the Distribution Channel, it is expected that the segment of sports goods retailers holds a major part of the market and it is also expected to rise in the upcoming years of the forecast period. This segment includes rental stores, sports specialty stores, and vendor-specific showrooms. It allows consumers to select from a number of products which leads to its growth.
SUP Boards Market based on Region
Evaluation has been done and it is stated that the North American region holds the major part of the market and is expected to grow in the upcoming years of the forecast period. This region holds a large part of the market as this area has more participation in activities related to water. Also, North America adopted the SUP Boards at an early stage which helped it to rise. It is also expected that the second region to grow in the upcoming years of the forecast period in Europe.
Covid-19 Impact & Market Status
It has been observed that COVID- 19 had a huge effect on all the markets and it even affected the behavior of the consumer on the basis of the whole world. Likewise, COVID-19 had a negative influence on the SUP Boards market. Due to the lockdown, the level of income of the people was reduced which reduced the demand for SUP Boards. Also, due to the lockdown, there was the closure of activities which led to the demand for these boards. People were willing to save their income and spend less which hampered the growth of the SUP Boards Market.
Latest Innovations in the SUP Boards Market: A Snapshot
- In October 2020, there was an announcement of Chris Johnson as the brand’s executive director of operations by SOL Paddle Boards. The appointment brought the reaffirmation of innovation along with quality and world-class customer service.
- In October 2020, a UK- based company named Bluefin described itself as ‘an ocean-spirited family business which is passionate about building SUP which is premium inflatable, good in quality and have a competitive price.
- The aim of trade research analysis is to provide lessons that are reliable and trustworthy on the SUP Boards Market. Data that is complex has been identified by the research study and it also demonstrates the prevailing and historical state of the industry along with market drifts which are expected and expected size of the market. All the descriptions of the sector have been recognized by the reported study which also includes leaders of the market, investors, customers, and new entrants.
SUP Boards Market Scope
|Revenue forecast in 2031
|USD 6.8 Bn
|CAGR of 9.71 % during 2021-2031
|Type, Application, By End-use, Regions
|North America, Europe, Asia Pacific, South America, Middle East and Africa
|Key Players Profiled
|Airhead Sports Group, c4 Waterman, F- one SUP, Sun Dolphin, NRS, BIC Sport, RED Paddle, Sea Eagle, Laird StandUp, Rave Sports, Tower Paddle Boards, Hobie, Wenonah Canoe, and more.
Key Segments of the SUP Boards Market
By Type Overview, 2021-2031 (USD Billion)
- Less than US$200
- US$200- US$499
- US$500- US$799
- US$800- US$999
- US$1000- US$1500
By Application Overview, 2021-2031 (USD Billion)
- Under 20 years old
- 20- 30 years old
- 30- 40 years old
- 40- 50 years old
- more than 50 years old
By End User Overview, 2021-2031 (USD Billion)
By Regional Overview, 2021-2031 (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
- Middle East and Africa