by The surfing board market has witnessed steady growth over the past few decades. Surfing boards are a crucial equipment used in water sports like surfing. Surfing boards are made from versatile materials like polyurethane, wood, foamed polystyrene, etc. and are designed to glide smoothly over water waves providing stability and balance to surfers. Surfing helps in building strength, improves fitness and provides recreational benefits to individuals. The growth in popularity of surfing and relevant water sports like paddle boarding has fueled the demand for high quality and customized surfing boards.
The Global surfing board market is estimated to be valued at US$ 3.17 Bn in 2024 and is expected to exhibit a CAGR of 6.1% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the surfing board market are Kallialay Original Series, Blu Surfboards, Nico Erni, Coral Surfboards, Alai Surfboards, Kove Kraft, ThunderMonkey, NSP, Haydenshapes, Firewire, FCS, Prolite, Yolo Kayaks, Zinka Sunscreen, Showa Denko K.K., BIC Sport, Surftech, and Channel Islands Surfboards. These companies are focusing on bringing innovations and customizable options in materials and designs to attract more customers.
The growing interest of people in healthy lifestyles and water-based activities offer extensive opportunities for Surfing Board Market Demand manufacturers to expand their customer base globally. Additionally, startup companies are introducing affordable and stylish mini-surfboards suitable for beginners and kids to make surfing more approachable.
Surfing board companies are expanding their retail distribution networks across Asia Pacific, European and Latin American regions where beaches suitable for surfing are abundantly available. Advanced cold weather suitable surfing boards are also gaining traction in regions like Australia and parts of North America and Europe where waves can be surfed all year-round.
Market Drivers
The rising participation of people in recreational water sports like surfing owing to growing interest in healthy lifestyles is a key driver for the surfing board market. The popularity of surfing as a competitive sport with addition to Olympics has also propelled the demand. Additionally, the growth of beach and water tourism worldwide along with developing surfing infrastructure is estimated to contribute to the market growth in the forecast period.
PEST Analysis
Political: The surfing board market is impacted by government regulations regarding environmental issues like beach pollution. Regulations like banning certain types of boards or limiting board production can negatively impact market growth.
Economic: Changes in the economic conditions of key regions influence discretionary consumer spending on recreational activities like surfing.An economic downturn could reduce market revenue as consumers cut back on non-essential purchases.
Social: Surfing is a popular sport and lifestyle pursued mainly by the youth.Shifting social trends where surfing gains more mainstream popularity can expand the target consumer base and drive future market opportunities.
Technological: Advancements in materials like fiberglass and foam cores help manufacturers develop stronger,lighter boards.New board designs optimized for different surf conditions and rider skill levels attract more enthusiasts and improve the experience. Computer-aided design software is also used for efficient production.
The geographical regions where the market in terms of value is concentrated are North America and Asia Pacific. North America accounts for the largest revenue share currently owing to high participation in surfing along the Pacific coast of the US and Canada.
The fastest growing regional market for surfing boards is anticipated to be Asia Pacific. Countries like China, Indonesia,Japan and Australia have extensive coastlines conducive to the sport.Rising affluence and exposure to beach culture is propelling market growth in the region. Countries like India and Thailand are also emerging as lucrative surfing destinations.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
About Author - Alice Mutum
Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights. LinkedIn
