Global Surfing Market to Reach $3.1 Billion by 2026

SAN FRANCISCO, March 21, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Surfing - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

FACTS AT A GLANCE

What's New for 2022?

• Global competitiveness and key competitor percentage market shares
• Market presence across multiple geographies - Strong/Active/Niche/Trivial
• Online interactive peer-to-peer collaborative bespoke updates
• Access to our digital archives and MarketGlass Research Platform
• Complimentary updates for one year

Edition: 17; Released: February 2022

Executive Pool: 9303
Companies: 131 - Players covered include AJW Surfboard; AGIT Global North America, Inc.; Tahe Outdoors Ltd; Billabong International Limited; Boardriders, Inc.; Body Glove; BruSurf; CANNIBAL SURFBOARDS; Channel Islands Surfboards; Firewire Surfboards, LLC; Globe International Ltd.; Global Surf Industries; Gul Watersports Ltd; Harbour Surfboards; Hydenshapes; Infinity Surfboards Inc; JS Industries; Keeper Sports Products, LLC; Mt Woodgee Surfboards; Naish International; NSP International; O'Neill; Rip Curl International Pty Ltd.; Rusty Surfboards; Volcom LLC and Others.
Coverage: All major geographies and key segments
Segments: Product Type (Surfing Boards, Apparel & Accessories); Distribution Channel (Offline, Online)
Geographies: World; USA; Japan; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; Rest of Asia-Pacific; Rest of World.

Complimentary Project Preview - This is an ongoing global program. Preview our research program before you make a purchase decision. We are offering a complimentary access to qualified executives driving strategy, business development, sales & marketing, and product management roles at featured companies. Previews provide deep insider access to business trends; competitive brands; domain expert profiles; and market data templates and much more. You may also build your own bespoke report using our MarketGlass™ Platform which offers thousands of data bytes without an obligation to purchase our report. Preview Registry

ABSTRACT-

Global Surfing Market to Reach $3.1 Billion by 2026
Surfing is a surface water sport wherein the participant moves along the face of a breaking ocean wave, also known as the `surf`, with the use of `board` as primary equipment. The primary factor driving growth is the push by surfing equipment makers, marketers and associations to make surfing much more approachable than it was in past years, as seen through the roll out of public surfing facilities and artificial reefs. Increased accessibility and affordability has drawn significant number of surfing participants and attracted wider demographic clusters in the recent years. The sport of surfing has also emerged a fashion and lifestyle trend. The growing focus on wellness and fitness is also leading to increased interest in surfing, as spas and wellness centers promote the sport as a fitness ritual. Surf tourism has contributed significantly to the demand for surfing equipment and apparel over the years. Surfing vacations hold tremendous potential and are likely to be a vital component of the global travel industry in the post COVID-19 period. The inclusion of surfing as a sporting event in the Olympics also has the potential to spur interest in the activity.

Amid the COVID-19 crisis, the global market for Surfing estimated at US$2.8 Billion in the year 2022, is projected to reach a size of US$3.1 Billion by 2026, displaying at a CAGR of 2.6% over the analysis period. Surfing Boards, one of the segments analyzed in the report, is projected to record a 2.5% CAGR to reach a market size of approximately US$2.1 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Surfing Apparel & Accessories segment is projected to spiral at 3% CAGR for the next 7-year period. Of the different types of surfing equipment, surfboards hold the dominant share in the overall market in terms of revenues and are likely to sustain their leading position for many years to come. Growth for the segment is driven by increased availability of a number of boards, suiting specific requirements of surfers. Increased inclination of millennials towards recreational and adventure sports has been a major factor fueling demand for surfboards in the recent years. The new design elements in surfboards, in terms of shape, operations, utility and material are driven by such changing preferences of surfers. Interest in water sports among women also increased, which is another reason behind increased sales of surfboards. Surfing apparel and equipment market benefits from the rising popularity of surfing as a health and fitness activity due to its ability to offer whole-body benefits.

The U.S. Market is Estimated at US$1.2 Billion in 2022, While Asia-Pacific is Forecast to Reach $600.4 Million by 2026
Surfing market in the U.S. is estimated at US$1.2 Billion in the year 2022. Asia-Pacific is forecast to reach a projected market size of US$600.4 Million by the year 2026 trailing a CAGR of 3.1% over the analysis period. Among the other noteworthy geographic markets are Japan, and Europe, each forecast to grow at a CAGR of 1.9%, and 2.4% respectively over the analysis period. The US represents the largest market for surfing equipment owing to the long coastlines. There are now several surf parks established in the US using artificial wave technologies, which is also boosting market growth for surfing equipment in the region. Growth in the Asia-Pacific region is set to be driven by strong demand in countries like New Zealand and Australia. Inclination towards adventure water sports is also growing among youngsters in several other Asian nations including Vietnam, Maldives and Thailand.

By Distribution Channel, Online Segment to Reach $484.1 Million by 2026
The online sales channel has in particular gained prominence amidst the ongoing COVID-19 pandemic, which led to closure of stores for long periods of times. With stores that were open also facing significant supply issues, online platforms emerged as the predominant sales channel. Online distributors offer customizing options. Customers can select their logos, patches, graphics, and technologies. In the global Online Distribution segment USA, Japan, Europe and Asia-Pacific will drive the 3.2% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$376.7 Million will reach a projected size of US$469.7 Million by the close of the analysis period. Asia-Pacific will remain among the fastest growing in this cluster of regional markets and is forecast to reach US$109.7 Million by the year 2026. More

MarketGlass™ Platform
Our MarketGlass™ Platform is a free full-stack knowledge center that is custom configurable to today`s busy business executive`s intelligence needs! This influencer driven interactive research platform is at the core of our primary research engagements and draws from unique perspectives of participating executives worldwide. Features include - enterprise-wide peer-to-peer collaborations; research program previews relevant to your company; 3.4 million domain expert profiles; competitive company profiles; interactive research modules; bespoke report generation; monitor market trends; competitive brands; create & publish blogs & podcasts using our primary and secondary content; track domain events worldwide; and much more. Client companies will have complete insider access to the project data stacks. Currently in use by 67,000+ domain experts worldwide.

Our platform is free for qualified executives and is accessible from our website www.StrategyR.com or via our just released mobile application on iOS or Android

About Global Industry Analysts, Inc. & StrategyR™
Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.

CONTACTS:
Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]

LINKS
Join Our Expert Panel
https://www.strategyr.com/Panelist.asp

Connect With Us on LinkedIn
https://www.linkedin.com/company/global-industry-analysts-inc./

Follow Us on Twitter
https://twitter.com/marketbytes

Journalists & Media
[email protected]

SOURCE Global Industry Analysts, Inc.