Surfboard Market Analysis, Industry Drivers, Leading Players and Future Trends 2024-2032
According to IMARC Group, the global surfboard market size reached US$ 2.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 4.4 Billion by 2032, exhibiting a growth rate (CAGR) of 4.5% during 2024-2032.
The report has segmented the market by product type (shortboards, longboards, fish boards, gun boards, and others), material type (polyurethane, balsa wood, and others), distribution channel (online, offline), application (recreational, professional), and region.
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Factors Affecting the Growth of the Surfboard Industry:
- Growing Popularity of Surfing as a Sport and Recreational Activity:
The surge in interest in surfing worldwide, both as a competitive sport and a leisure activity, is a major factor driving the surfboard market. With the inclusion of surfing in the Olympics and increased media coverage, the sport has gained global attention, attracting new enthusiasts. Additionally, the appeal of surfing as a fun, adventurous, and health-beneficial activity is drawing more individuals to the sport. This rising popularity has led to an increased demand for surfboards, fueling the market growth. The trend is especially pronounced in coastal regions and is spreading to non-traditional surfing countries, which is further expanding the market.
- Advancements in Surfboard Technology and Materials:
Technological advancements in surfboard manufacturing and materials significantly contribute to the market's growth. Innovations in design and the use of new materials have led to the production of more durable, lightweight, and high-performance surfboards. Materials like epoxy, carbon fiber, and advancements in foam technology offer better buoyancy and maneuverability, appealing to both professional surfers and beginners. These technological improvements not only enhance the surfing experience but also extend the lifespan of surfboards, thus making them a more appealing investment for consumers.
- Increasing Environmental Awareness and Eco-Friendly Surfboards:
The growing environmental consciousness among consumers and manufacturers is influencing the surfboard market. There is a rising demand for eco-friendly surfboards made from sustainable materials, such as recycled plastics, bamboo, and bio-resins. This shift is driven by the surfing community's close connection to the ocean and nature, prompting a preference for products that minimize environmental impact. The development and promotion of sustainable surfboards are not only attracting environmentally conscious consumers but also aligning the industry with global sustainability trends, which is contributing to the market growth.
Surfboard Market Report Segmentation:
Breakup by Product Type:
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Shortboards
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Longboards
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Fish Boards
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Gun Boards
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Others
Longboards dominate the global surfboard market by product type due to their stability and ease of use, making them suitable for both beginners and experienced surfers and popular for leisure surfing.
Breakup by Material Type:
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Polyurethane
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Balsa Wood
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Others
Balsa wood leads the market by material type, favored for its lightweight, buoyancy, and the classic aesthetic appeal it provides to surfboards, appealing to both traditionalists and eco-conscious surfers.
Breakup by Distribution Channel:
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Online
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Offline
Offline channels, including surf shops and sporting goods stores, remain the largest distribution channel, as they offer customers the advantage of physically inspecting and feeling the surfboard before purchase, coupled with expert advice.
Breakup by Application:
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Recreational
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Professional
The recreational segment holds the largest market share by application, as surfing is predominantly pursued as a leisure and recreational activity by most enthusiasts around the world.
Breakup by Region:
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North America (United States, Canada)
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Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
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Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
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Latin America (Brazil, Mexico, Others)
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Middle East and Africa
North America is the largest market for surfboards regionally, due to its long-established surfing culture, numerous popular surfing destinations, and the presence of several leading surfboard manufacturers and surfers.
Competitive Landscape With Key Players:
The competitive landscape of the surfboard market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of These Key Players Include:
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Agit Global Inc.
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Beachbeat Surfboards
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Brusurf LLC
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Channel Islands Surfboards Inc. (The Burton Corporation)
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Global Surf Industries
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Hobie Cat Company Inc.
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Haydenshapes Surfboards
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Infinity Surfboards Incorporated
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Keeper Sports Products LLC
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Rusty Surfboards Inc. (Vegas Enterprises Pty Ltd.)
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Superbrand Surfboards
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Xanadu Surfdesigns
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Global Surfboard Market Trends:
The growing interest in sustainable and eco-friendly surfboards represents one of the key factors driving the growth of the surfboard market across the globe. This is primarily due to rising environmental concerns which are boosting the market growth. Manufacturers are increasingly using materials like recycled foam and bio-resins, appealing to environmentally conscious consumers. Technological advancements are influencing the market, with developments in board design software and manufacturing techniques leading to more advanced and customized surfboards. This includes the use of computer-aided design (CAD) to create precise shapes and hydrodynamic structures.
The market is also driven by the rise in popularity of inflatable surfboards. These boards are valued for their portability and ease of storage, making them a popular choice for casual surfers and travelers. Additionally, the surfboard market is seeing an increased emphasis on aesthetics, with unique designs and artist collaborations becoming selling points.
Key Highlights of the Report:
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Market Performance (2018-2023)
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Market Outlook (2024-2032)
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Market Trends
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Market Drivers and Success Factors
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Impact of COVID-19
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Value Chain Analysis
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Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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