Stand Up Paddle Board Market
Stand Up Paddle Board Market Trend, Opportunity, and Forecast Analysis, 2024-2032
Stand Up Paddle Board Market is segmented by Product, Material, Board Type, Sales Channel and by Region. KDMI analyst foresees market revenue to cross USD 3.19 Billion by 2032 by growing with a CAGR of 10.2% during 2024-2032.
Stand Up Paddle Board Market Highlights
The global stand up paddle board market is expected to cross a value of USD 3.19 billion by the end of 2032. The market was valued at USD 1.92 billion in 2023 and is expected to expand at a CAGR of 10.2% between 2024-2032.
- Over the mid-term, the rising demand for outdoor recreational activity product is the primary factor anticipated to drive the global stand up paddle board market.
- The high cost of the product is a major factor to challenge the market growth.
- The North America stand up paddle board market is projected to dominate the global market.
Stand Up Paddle Board Market: Report Scope |
|
|
Base Year |
2023 |
|
Base Year Market Size |
USD 1.92 Billion |
|
Forecast Year |
2024-2032 |
|
Forecast Year Market Size |
USD 3.19 Billion |
|
CAGR Value |
10.2% |
|
Stand Up Paddle Board Market Key Trends/Major Growth Drivers |
|
|
Restraint Factors |
|
|
Stand Up Paddle Board Market Segmentation |
|
|
Stand Up Paddle Board Market Key Players |
Naish International, Red Paddle Co, BIC Sport, Starboard, Mistral, SIC Maui, JP Australia, Imagine Surf Fanatic, RRD Roberto Ricci Designs, NSP, Aqua Marina Slingshot Sports, F-one, Sunova, Body Glove, Jobe Sports, and others. |
Stand Up Paddle Board Market Outlook
A watercraft that resembles a surfboard, but is designed for standing and paddling is known as a stand up paddle (SUP) board. These boards allow the riser to stand upright on the board and paddle to propel oneself through the water.
According to our experts at KD Market Insights, one of the most important factors associated with the growth of the global stand up paddle board market is the rising demand for outdoor recreational activity product. Our researchers have found that the participation rate in outdoor recreation activities have grown to about 41% globally in 2023, up from around 22% in 2018. Especially, post the COVID-19 pandemic, consumers around the globe are increasingly seeking ways to stay active, enjoy nature, and explore waterways, lakes, rivers, and coastal areas, which is expected to drive the demand for stand up paddle (SUP) boards. Naish International, Red Paddle Co, BIC Sport are some of the significant parties in the global market for stand up paddle board.
Get More Insights on This Report - Request Free Sample PDF
Stand Up Paddle Board Market Drivers – Analyst’s Observation
According to the analysts at KD Market Insights, some key growth drivers for the global stand up paddle board market are:
- Rise in Focus of Individuals on Health and Fitness: Owing to the growing concern for chronic diseases worldwide, individuals around the globe are increasingly focusing on keeping themselves fit and healthy. According to the statistics by the World Health Organization (WHO), noncommunicable diseases (NCDs) are known to kill 41 million people every year. As any sort of outdoor recreational activities offers a full-body workout that promotes balance, strength, and cardiovascular fitness, hence, individuals are increasingly opting for outdoor recreational activities, such as paddle boarding. Additionally, individuals are also looking out for activities that combines exercise with leisure and relaxation, which is also expected to promote the adoption of SUP boards in the coming years.
- Increasing Interests for Easy Watersport Activities: As compared to other type of water sports, stand up paddle boarding is relatively easy to learn. The simplicity of the sport, such as minimal equipment requirements, and shallow learning curve makes it attractable and accessible to beginners and newcomers who otherwise would had been hesitant to conventional water sports, such as kayaking or surfing.
Which Probable Factors Could Hamper the Growing Stand Up Paddle Board Market Trend?
As per our KD Market Insights analysis, some of the challenges expected to limit the global market growth of stand up paddle board are:
- Concern for Seasonal Demand of SUP Boards: Paddleboarding is a seasonal game and often peaks during the warmer months as people gets themselves engaged to water-based activities. This significantly hampers the sales during the off-peak seasons, where businesses face challenges in managing their inventory levels and cash flow, thereby restricting the market growth.
- High Cost of the Product: The overall cost of stand up paddle boards are usually very high as the consumer has to purchase the entire kit, which includes paddleboards, paddles, and accessories, such as leashes, life jackets, and roof racks. This raises the overall cost of ownership amongst the consumers, which is expected to limit the demand for the product.
How is the Global Stand Up Paddle Board Market Segmented?
Our experts at KD Market Insights have segmented the global stand up paddle board market as:
|
By Product |
|
|
By Material |
|
|
By Board Type |
|
|
By Sales Channel |
|
|
By Region |
|
What are the Probable Factors Influencing the North America Stand Up Paddle Board Market Forecast?
The North America stand up paddle board market is majorly driven by the growing awareness for promoting SUP boards as a water sport activity by means of events, competitions, and festivals, along with the increasing proliferation of SUP boards rental and tour operations across the region. In the recent years, rental shops, beach resorts, water sports centers, and outdoor adventure companies are increasingly offering SUP board rentals, lessons, guided tours, and group excursions to make it more attracting to new participants. Besides this, the manufacturers of paddleboards in the region are continuously working upon innovating and improving board designs, materials and technologies to enhance the performance, durability, and user experience, making these products more appealing to a wider range of consumers. Such factors are therefore expected to drive the growth of the market in the coming years in North America.
As per our analysts at KD Market Insights, the following five players lead the North America stand up paddle board market growth:
- Boardworks
- Yolo Board
- BOTE
- Tower Paddle Boards
- ISLE Surf & SUP
|
Key Countries to Watch for in North America Stand Up Paddle Board Market |
Key Insights |
|
United States Stand Up Paddle Board Market to Register the Largest Regional Market Share in 2032 |
USD 0.89 Billion |
|
Canada Stand Up Paddle Board Market to Grow with the Highest CAGR During 2024-2032 |
10.6% |
Which Key Players Top the Global Stand Up Paddle Board Market Share?
As per our analysts at KD Market Insights, the competitive landscape of global stand up paddle board market facilitates our readers in identifying their closest competitors. The manufacturers who are associated with stand up paddle board market are raising their focus on expanding their presence, as well as their market share. The market has also been witnessing an upward movement in the number of collaborations between research institutions and key players, aimed at introducing advanced technologies and innovation of new products. Here is a list of the key players who top the global stand up paddle board market share:
- Naish International
- Red Paddle Co
- BIC Sport
- Starboard
- Mistral
- SIC Maui
- JP Australia
- Imagine Surf
- Fanatic
- RRD Roberto Ricci Designs
- NSP
- Aqua Marina
- Slingshot Sports
- F-one
- Sunova
- Body Glove
- Jobe Sports
- Oxbow
- Aztron
- GONGSUP
What are the Recent Developments Observed in the Stand Up Paddle Board Market?
Over the years, the experts at KD Market Insights have been observing the recent developments associated with global stand up paddle board market trends. Our expert’s market forecast analysis has recorded the market players adopting plentiful of key strategies including new product launches, mergers & acquisitions, and collaborations.
For instance, Blue Planet Surf stated that they have acquired Tropical Rush Store. This expansion would help improve the sales of SUP boards and promote better demand for its rental services.
Further, Funky Sup shared that they have introduced a new SUP board designed especially for kids with a picture of sea animals in 2D and 3D.
Make This Report Your Own
Take Advantage of Intelligence Tailored to your Business Objective
Get a Customized Version
- Publication date: 7th April 2024
- Base year: 2022
- Forecast year: 2023-2033
- Format: PDF, PPT,Word,Excel
- Quick Contact -
- ISO Certified Logo -
Frequently Asked Questions(FAQ)
Stand Up Paddle Board Market
-: Our Clients :-
