Stand-Up Paddle Board Market Size, Share, Growth and Industry Analysis by Type (Solid SUP Boards, And, Inflatable SUP Boards) By Application (For Surf, For All Round, For Flatwater or Touring, For Racing, And, Others), Regional Forecast To 2031

Updated On: 22 April 2024

Stand-Up Paddle Board Market REPORT OVERVIEW

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The global stand-up paddle board market size expanded rapidly in 2021. As per our research the market is expected to generate substantial revenue by 2031, exhibiting a high CAGR during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

A stand-up paddle board is usually used by surfers to perform paddle boarding which is a type of water sport. It is very similar to surfing, and it originated in Hawaii. Paddle boarders stand up on the paddle board, which floats on water. There will be a paddle which the riders use to propel themselves through water.

Post pandemic, there has been a rise in the number of people going on vacations. This has increased the demand for water sports and adventure activities all over the world. This can be identified as the latest trend in the market.

In the past few decades, water sports like surfing, paddle boarding, rowing, and kayaking have gained importance. International sport tournaments are being organized. Safety measures are getting implemented in water sports. All of these factors have resulted in the increase in stand-up paddle board market growth.

COVID-19 impact: Reduction in Water Sports and Activities During Pandemic decreased Market Growth

The pandemic of COVID-19 created a lot of disruptions in the functioning of several sectors. This happened due to the unfavorable conditions that were created by the rapidly spreading coronavirus. In order, to protect people from the deadly virus government authorities made lockdowns compulsory.

Apart from this, people who were tested positive for COVID-19, and those who showed the symptoms of coronavirus had to quarantine themselves in order to avoid any contact with others. All of these factors decreased the demand for outdoor sports activities, especially water sports. Therefore, the stand-up paddle board market share witnessed a decline during this period.

LATEST TRENDS

"Increase in Number of Vacations Taken Up by People Post COVID-19 to Increase Market Growth"

After the pandemic was over, and the restrictions imposed were removed the number of people going on vacations increased drastically. This had a positive influence on the stand-up paddle board market share. With an increase in vacation activities, the number of people participating in water activities also increased.

Stand-up paddle boarding is considered as a soft adventure sport. Demand for soft adventure sports increased drastically. There are different types of paddle boards available in the market suitable for different people. These boards are classified on the basis of material, strength, price, length, application, and mainly the weight of the user.

Stand-Up Paddle Board Market SEGMENTATION

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• By Type:

The market can be divided on the basis of type into the following segments:

Solid SUP boards, and, inflatable SUP boards. The solid SUP boards segment is anticipated to dominate the market during the forecast period.

• By Application:

Classification based on application into the following segment:

For surf, for all round, for flatwater or touring, for racing, and, others. The for-surf segment is predicted to dominate the market during the research period.

DRIVING FACTORS

"Growing Awareness and Recognition for Water Sports in International Events to Accelerate Market Growth"

Water sports were not recognized in international forums or sports activities up until recently. However, with gradual gain in its popularity paddle boarding is gaining recognition internationally. People are becoming aware of sports activities like surfing, and paddle boarding with growing penetration of internet, and mobile phones.

Water sports are getting included in international sports events providing adventure lovers a great opportunity to indulge themselves in them. One example of such water sport is rowing. Rowing was introduced in the year 1864. Only after a decade it was recognized and tournaments were organized for rowing. Similarly soft adventure sports like stand-up board paddling are also getting included in most of the adventure activities that are being held internationally. With more number of tournaments being conducted the demand for stand-up paddle board is increasing.   

"Increasing Safety of Participating in Water Adventures to Propel Market Growth "

Water sports and adventure games are always considered too risky and dangerous.  This restrained many people in participating in such activities. However, with many developments in the market. These sport adventures have become safer and less intimidating. Introduction of life jackets and other safety techniques have increased the participation of people in water adventures.

Rising number of resorts, and vacation destinations are also creating lucrative growth opportunities for stand-up paddle board market. Most of the places now give their customers the chance to participate in water sports like rowing, surfing, kayaking, and even paddle boarding. This has increased the sales of paddle boards. All of these factors are propelling the stand-up paddle board market share.

RESTRAINING FACTOR

"Scarcity of Trained Professionals to Decrease Market Growth"

Even though many techniques have been introduced to make water sports less risky, it is highly important to make sure that certain precautionary measures are taken to avoid any kind of disasters. Therefore, trained and skilled professionals are highly important to administer people while trying such sports.

Professions not only administer the person taking up the sports, they also ensure their security. However, scarcity of such trained and professional people can become a barrier for market growth.  Life-risk sports cannot be performed without the assistance of trained professionals. This can deteriorate market share.

Stand-Up Paddle Board Market Regional Insights

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"North America to Dominate Market Share in Upcoming Years"

North America can be identified as the largest market share holder of the stand-up paddle board sector. Increasing interest of people to take part in water sports has increased the demand for paddle boards.

International sports activities and tournaments are conducted in very frequently in many countries of this region. The number of people taking up adventure sports as their profession has also increased. All of these factors have played an important role in increasing the demand for stand-up paddle boards.

Key Industry Players

"Leading Players adopt Acquisition Strategies to Stay Competitive "

Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market.

List of Market Players Profiled

• SUP ATX (U.S.)
• Naish Surfing (Hawaii)
• BIC Sport (France)
• BoardworksC4 Waterman (Hawaii)
• Tower Paddle Boards (U.S.)
• Sun Dolphin (U.S.)
• Rave Sports Inc (U.S.)
• RED Paddle (Canada)
• EXOCET- ORIGINAL (France)
• Coreban (Australia)
• NRS (Moscow)
• Clear Blue Hawaii (Hawaii)
• SlingShot (U.S.)
• Hobie. (U.S.)
• Laird StandUp (U.S.)
• Sea Eagle (U.S.)
• Airhead (India)

Report Coverage

The report provides an insight into the industry from both the demand and supply sides. Further, it also gives information on the impact of COVID-19 on the market, the driving and the restraining factors along with the regional insights. Market dynamic forces during the forecast period have also been discussed for the better understanding of the market situations.