Canoe & Kayak Market Report Overview
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The global canoe & kayak size is expanded rapidly in 2021 and market is expected to generate substantial revenue by 2031, exhibiting a high compound annual growth rate (CAGR) from 2021 to 2031.
The term "canoe" refers to an open vessel in which a person sits or kneels inside. The person can propel the boat through the water with a single-bladed paddle. A kayak is characterized as an encased vessel with the individual that sits inside the vessel with legs broadened utilizing a twofold bladed oar. Despite their constant association, kayaking and canoeing are distinct sports. Paddling a canoe with a single-bladed paddle is called canoeing, and kayaking is when a kayak moves across the water. Canoeing is now performed as part of a sport or as a leisure activity. Canoe camping and racing, which are similar to canoe sprints and canoe marathons, are two examples of recreational activities. The sport of canoeing and kayaking, which are significantly low-impact activities, significantly improves aerobic fitness, strength, and flexibility.
The growing popularity of outdoor activities all over the world is one of the primary drivers of the market for canoes and kayaks. The rise in popularity of indoor adventure sports and recreational activities further affect the market. Additionally, the rise in health-related issues, rise in disposable income, high e-commerce sales channels, and manufacturers' smart strategic marketing efforts all have a positive impact on the canoe & kayak market.
COVID-19 Impact: Pandemic Reduced the Demand for Canoe & Kayak
Global supply chains were disturbed by the Covid-19 pandemic. Manufacturing businesses ceased all operations, and numerous businesses remained closed until government officials issued instructions for reopening. Numerous nations have implemented travel restrictions in an effort to slow the coronavirus's spread, which has had a significant impact on the tourism industry. Multiple warnings to stay home and two-week self-quarantine requirements upon travel arrival or departure reduced tourism demand even more. Manufacturing and processing, as well as import and export, were temporarily prohibited across a variety of industries as a result of lockdown measures. The strict lockdown orders reduced the number of domestic and international tourists, which hampered the demand for canoe & kayak.
Latest Trends
"Creation of Water Sports to Boost Market Growth"
The growth of the market for canoe & kayak is being impacted in large part by the creation of artificial water sports experiences. There is currently an indoor version of every adventure sport that can be performed outdoors. This will probably turn into a significant pattern in the worldwide paddling and kayaking gear market during the estimate time frame. One of the largest man-made lakes in northern Europe, the Kielder Water has become extremely popular with tourists for canoeing and kayaking. Another well-known example is surf parks with artificial wave technology integrated into them. There are currently at least 10-15 of these water surf parks, with more opening in Russia, Spain, and Hawaii in the near future. In addition to making it easier and more convenient for tourists, these man-made attractions also make it possible for a variety of tourism-related businesses, such as hotels and restaurants, to thrive.
Canoe & Kayak Market Segmentation
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- By Type Analysis
According to type, the market can be segmented into canoe, kayak.
- By Application Analysis
Based on service, the market can be divided into offline sales and online sales.
Driving Factors
"Expansion of Tourism Industry to Fuel Market Growth"
Due to rising public awareness of the benefits of sport and the rise in water tourism, canoe and kayak sales are anticipated to rise during the forecast period. Canoes and kayaks are becoming more popular and attracting the interest of sports fans and sightseers in general. As a result, the kayak and kayak-related businesses are constantly expanding. Camps and tourism are promoting adventure sports and other sports to attract tourists.
"Promotion of Water Sports Tournaments to Accelerate Market Demand "
Teenagers and people who are motivated by fun and adventure to play this sport the most. In order to promote this sport, numerous water sports tournaments began each year. The players experience a variety of health benefits, including improved balance, muscle strength, endurance, and so on, which drives up demand. It has been observed in recent times that this market is shifting its target demographic. Grown-ups, senior residents, and ladies are likewise progressively partaking in canoes and kayaks. A lucrative opportunity has emerged for the production of attractive and colourful kayaks, canoes, and even their accessories as a result of women's growing involvement. All these developments will boost canoe & kayak market growth.
Restraining Factors
"High Cost of Canoe & Kayak to Hinder Growth of Market "
A major obstacle hindering the expansion of the market is the high cost of canoes and kayaks, which leads people to prefer renting them. The relatively high cost of canoes and kayaks limits the potential growth of the market, particularly among casual paddlers. As a result, rather than purchasing such outdoor equipment, they prefer renting it. As a result, canoe & kayak sales, particularly those of higher-end models have suffered.
Canoe & Kayak Market Regional Insights
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"Rising Popularity of Water-based Adventure in North America Anticipated to Boost Market Development"
During the forecast period, North America holds the leading position in canoe & kayak market share due to the rising interest in water-based adventure sports and the rising popularity of racing and competition. The market is expected to see an increase in sales of canoes and kayaks as disposable income of people rises and there are more places to go to kayak festivals and artificial water bodies.
Key Industry Players
"Market Expansion Is Being Driven By Key Players' Adoption of Novel Strategies"
Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio.
The top key players in the market are Advanced Elements, Klepper, Aqua Xtreme, AIRE, BIC Sport, Nautiraid, Oru Kayak, Point65 Sweden, ZEBEC, Gumotex, Rotomod, Perception Kayaks, Aquaglide, STAR, ITIWIT, Sea Eagle. The strategies to develop new technologies, capital investment in R&D, improve product quality, acquisitions, mergers, and compete for the market competition help them to perpetuate their position and value in the market. Besides, collaboration with other companies & extensive possession over market shares by the key players stimulates market demand.
List of Market Players Profiled
- Advanced Elements
- Klepper
- Aqua Xtreme
- AIRE
- BIC Sport
- Nautiraid
- Oru Kayak
- Point65 Sweden
- ZEBEC
- Gumotex
- Rotomod
- Perception Kayaks
- Aquaglide
- STAR
- ITIWIT
- Sea Eagle
Report Coverage
This report examines an understanding of the canoe & kayak market’s size, share, and growth rate, segmentation by type, application, key players, and previous and current market scenarios. The report also collects the market’s precise data and forecasts by market experts. Also, it describes the study of this industry’s financial performance, investments, growth, innovation marks, and new product launches by the top companies and offers deep insights into the current market structure, competitive analysis based on key players, key driving forces, and restraints that affect the demand for growth, opportunities, and risks.
Furthermore, the post-COVID-19 pandemic’s effects on international market restrictions and a deep understanding of how the industry will recover, and strategies are also stated in the report. The competitive landscape has also been examined in detail to provide clarification of the competitive landscape.
This report also discloses the research based on methodologies that define price trend analysis of target companies, collection of data, statistics, target competitors, import-export, information, and previous years’ records based on market sales. Moreover, all the significant factors which influence the market such as small or medium business industry, macro-economic indicators, value chain analysis, and demand-side dynamics, with all the major business players have been explained in detail. This analysis is subject to modification if the key players and feasible analysis of market dynamics change.
Frequently Asked Questions
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What is the leading region in canoe & kayak market?
North America is the leading region in canoe & kayak market.
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Which are the driving factors of the canoe & kayak market?
Rising popularity of adventurous sports and expansion of tourism industry are the driving factors of the canoe & kayak market.
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Which are the top companies operating in the canoe & kayak market?
Advanced Elements, Klepper, Aqua Xtreme, AIRE, BIC Sport, Nautiraid, Oru Kayak, Point65 Sweden, ZEBEC, Gumotex, Rotomod, Perception Kayaks, Aquaglide, STAR, ITIWIT, Sea Eagle are the top companies operating in the canoe & kayak market.
