Stand up Paddleboard Market to Witness Significant Growth owing to Increasing Participation in Water Recreational Activities
The stand up paddleboard (SUP) is a large surface typically made from rigid materials such as polypropylene or polyethylene foam and fiberglass that allows users to stand and use a single-bladed paddle to propel through and glide over water. Stand up paddleboards provide a full body workout and are a low impact activity that can be enjoyed in lakes, rivers, and oceans. The boards are easy to transport, stable for beginners to learn, quiet for sneaking up on wildlife, and allow for enjoyment of scenery. SUP is gaining popularity as a recreational sport or an alternative form of exercise owing to effective workout of muscles in the lower body, core, and upper body.
The Global Stand up Paddleboard Market is estimated to be valued at US$ 1.72 Bn in 2024 and is expected to exhibit a CAGR of 10% over the forecast period from 2024 to 2031.
Key Takeaways
Key players operating in The Stand Up Paddleboard Market are C4 Waterman, Boardworks Surf and Sup., Cascadia Board Co., Goodhill Co. Ltd., Hobie Cat Co., Imagine Nation Sports LLC, LAIRDSTANDUP, Mistral Red Dot Division B.V., Naish International and Neil Pryde Ltd. These players are focusing on product innovations and partnerships to strengthen their distribution channels.
The demand for stand up paddleboards is increasing across the world owing to rising health awareness, increasing disposable income, and growing millennial population. Stand up paddleboarding offers low impact exercise and is suitable for all age groups.
Technological advancements are also supporting the market growth. Players are developing inflatable and foldable stand up paddleboards for easy storage and transportation. Materials like carbon and graphene are also being used to manufacture lightweight boards. Portable SUP boards allow flexibility and convenience of use at various water bodies.
Market Trends and Opportunities
Some of the key trends in the stand up paddleboard market include growing participation in outdoor recreational water sports activities and mass popularity of eco-tourism. The rising popularity of yoga and meditation on water is also driving innovations in yoga paddleboards.
Product launches catering to varied experience levels will present significant opportunities. For instance, beginner, amateur and professional boards at varying sizes, weights and features. Development of boards for specific terrains like rivers, lakes and ocean waves will further expand the market scope. Dual purpose boards allowing both SUP paddling and sailing can boost adoption rates. Technology advancements in lightweight, portable and inflatable boards will continue fueling market growth.
Impact of COVID-19 on Stand Up Paddleboard Market Growth
The COVID-19 pandemic has moderately impacted the growth of the global stand up paddleboard market. The manufacturing units and supply chains were disrupted during the lockdowns imposed worldwide. This led to decline in production volumes for a short period. Also, travel restrictions negatively affected the demand from recreational and touring activities segment. However, as people stayed indoors, stand up paddleboarding gained traction as an at-home fitness and recreational activity. This provided support to market growth. With relaxation in lockdowns, production is resuming at full capacity. The manufacturers are focusing on expanding their online distribution network to cater to the rising demand. In future, market players need to develop innovative product offerings considering safety and hygiene standards. Diversifying into SUP yoga and other fitness activities can strengthen their growth prospects in the post COVID period.
North America currently holds the major share of the global market value in terms of SUP boards sold. The region has a well-developed water sports culture and high consumer spending on outdoor recreational activities. In the USA, states like California and Florida are major hubs. Europe is also a concentrated region led by countries like the UK, France and Germany. However, Asia Pacific is accelerating as the fastest growing regional market. Nations like Thailand, Indonesia and India are emerging preferred tourist destinations for water adventures. China too is witnessing increased participation in stand up paddling. With rising incomes and health awareness, the APAC population is expected to drive future demand for SUP boards in this region.
While pre COVID California and Florida in USA were the largest markets by value, Thailand has emerged as the fastest growing geographical region post pandemic. Its advantages like stretched coastline, warm climate all year round and government promotion of water sports are attracting both local and international participants rapidly for stand up paddle activities. Moreover, Thailand has successfully controlled the spread of virus through strict safety protocols. This has boosted tourists' confidence to participate in outdoor pursuits like SUP once travel restrictions eased. Overall, Asia Pacific is projected to outpace other regions over the forecast period in terms of value growth for stand up paddleboards.
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