Valued to be $28.1 Billion by 2026, Board Sports Slated for Robust Growth Worldwide

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Feb 18, 2022, 10:55 ET

SAN FRANCISCO, Feb. 18, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Board Sports - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

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Edition: 16; Released: February 2022
Executive Pool: 3517
Companies: 248 - Players covered include adidas AG; Aloha Boardsports, Inc.; Billabong International Limited; Boardriders Inc.; Body Glove International, LLC; Burton Snowboards; Capita; Globe International Ltd.; Gul Watersports Ltd.; Hurley International; K2 Snowboarding; Mervin Manufacturing; Meta-Sports CO Ltd.; Never Summer Industries; Nike Skateboarding; Nitro USA, Inc.; O`Neill, Inc.; Rip Curl, Inc.; Volcom, Inc. and Others.
Coverage: All major geographies and key segments
Segments: Segment (Summer Boardsports, Snowboarding)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.

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ABSTRACT-

Global Board Sports Market to Reach US$28.1 Billion by the Year 2026

Usually referred to activities/games that inherently involve the use of 'board' as primary equipment, board sports are amongst the most sought after by 'adrenaline junkies', a group of people who normally crave for adventures, thrills, speed, and stunts. Some of the most popular board sports followed globally include surfing, windsurfing, wakeboarding, bodyboarding, skateboarding, kiteboarding, and skimboarding, all of which are played during summer time. Meanwhile, snowboarding, a typical winter sport, represents an important board sports market. Weather conditions and length of the season drive the global board sports market. As a result, summer products example, sunglasses, t-shirts and boardshorts are sold mainly in the first half of the year while winter products such as pants, sweaters, long sleeve shirts, jackets, fleece, goggles and outerwear are mostly sold in the second half of the year. Sales of surfing gear are hugely dependent on discretionary consumer spends, economic conditions, surfing participation, new product introductions, and latest fashion trends. With more consumers accepting cheaper Asian products, pressure on manufacturers to modify their product portfolio and prices will continue to intensify. A noteworthy trend in the market for surfboards is the increasing popularity of adaptive surfing creating more demand for the boards. Surf boards market also benefits from the rising popularity of surfing as a health and fitness activity due to its ability to offer whole-body benefits.

Amid the COVID-19 crisis, the global market for Board Sports estimated at US$23.1 Billion in the year 2022, is projected to reach a revised size of US$28.1 Billion by 2026, growing at a CAGR of 5.5% over the analysis period. Summer Boardsports, one of the segments analyzed in the report, is projected to grow at a 5.9% CAGR to reach US$26.9 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 Snowboarding segment is readjusted to a revised 1.4% CAGR for the next 7-year period. This segment currently accounts for a 9.5% share of the global Board Sports market. Snowboarding is gaining impetus from the expansion of the overall snowsports. The sport is now being considered a part of the overall outdoors experience, and not just solely a mountain sport. Therefore, some board sports companies are offering products such as backpacks, sleeping bags, and clothing, among others, in line with the trend.

The U.S. Market is Estimated at $11.5 Billion in 2022, While China is Forecast to Reach $1.5 Billion by 2026
The Board Sports market in the U.S. is estimated at US$11.5 Billion in the year 2022. The country currently accounts for a 49.7% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$1.5 Billion in the year 2026 trailing a CAGR of 6.2% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.3% and 5.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.9% CAGR while Rest of European market (as defined in the study) will reach US$1.4 Billion by the end of the analysis period. Despite the growing popularity of board sports, only a few countries have built a reputation as prime board sports destination. Considered a sport of adventures, thrills, speeds and stunts, board sports enjoys a cult following in Australia, US, and Europe. The US is the largest market for board sports, largely owing to a mushrooming population of urban lifestyle surfers, in addition to passionate and experienced surfers who often consider surfing a veritable way of life. Surfing represents one of the largest and the most profitable sporting markets in Australia. Surfing is considered a national sport, with more than 1 in every 10 Australians engaged in the water sport. Over 20 national surfing events are conducted every year, which attract over 2000 participants.
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