The Global Stand Up Peddle Boards Market was valued at USD 289.7 Million in 2019 and is projected to reach USD 421.3 Million by 2027, expanding at a CAGR of 5.1% during the forecast period. The demand for SUP boards is growing as many countries are raising awareness regarding the personal health by taking initiatives such as encouraging people for activities like SUP Yoga. Moreover, players operating in SUP boards market are focusing on finding new materials and components for SUP boards to make them more environment friendly and sustainable products.
The use of stand up peddling board has increased with the rising awareness about personal health and the need for exercise. The number of people choosing watersports as an exercise is growing. Increasing number of people undertaking watersports has significantly fueled the demand for SUP boards. In the last decade, stand up Peddle boards are becoming a lifestyle statement in the areas of recreational and leisure activities. Moreover, growth in adventure tourism activities around the globe is fueling the stand-up peddling boards market. Stand up paddleboard are used to cruise in rivers, lakes, and oceans. Furthermore, SUPs are widely used for adventure tourism activities. Increasing demand of SUPs for surfing, racing, and for recreational use is expected to propel the market. Furthermore, SUP manufacturers are introducing premium and purpose-oriented SUPs. This is helping manufacturers widen their product portfolio. Premium products made using novel materials are expected to attract buyers. Innovative technologies such as action cameras, GPS units, and other smart gears are being added to the new SUP boards.
Governments around the globe are raising awareness about the environment by taking initiatives to reduce contaminations of water bodies caused by paints and materials used in SUP boards. These factors are driving people to adopt eco-friendly SUP boards. Governments of many countries are encouraging the use of eco-friendly SUPs, which in turn, is expected to fuel the demand for eco-friendly SUP boards during the forecast period.
On the basis of regions, the global stand up paddle board market is classified as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA). Europe is expected to dominate the global stand up paddle board market during the forecast period, owing to high adoption of stand up paddle board in this region.
North America is expected to hold considerable share of the market. The presence of key manufactures of stand-up paddle board in the region and growing number of water sports events and participants in the region are the prime factor propelling the market in the region during the forecast period. The market in Europe is estimated to expand at a substantial CAGR during the forecast period due to increasing accessibility and availability of stand-up paddle board in the region.
- Key players in the market include BOARDWORKS SURF & SUP, BOT. LLC, COREBAN, Hala Gear, Hobie Cat Company, iRocker SUP, Jobe Sports International, Kahuna Paddleboards Inc., RAVE Sports, Red Paddle Co Limited, Sea Eagle Boats, Inc., Slingshot Sports, LLC, Sun Dolphin Boats, SUP ATX LLC. These players are considered as key manufacturers of the market based on their different varieties of product availability, regional presence, better supply chain management system, and the increasing demand for the products.
- The players are adopting key strategies such as product development, geographical expansion, mergers and acquisition and many other strategies to increase their demand for SUP boards.
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