Fact.MR’s new analytical report envisages the global market for stand up paddle board to record a notable 11.9% value CAGR between the period of forecast 2018 and 2028.
Rockville, MD, May 18, 2018 (GLOBE NEWSWIRE) — Prospects of stand up paddle (SUP) board market continue to remain bullish, as surging interest in outdoor recreational activities, coupled with wider availability of SUP boards induce momentum, finds a new study. Stand up paddle board sales are also positively influenced by growing popularity of water sports, with Fact.MR’s recent analytical study forecasting an 11.9% value CAGR through 2028.
The surge in SUP boarding’s popularity has encouraged vendors in introducing new stand up paddle boards that impart better experiences. Development of multi-purpose or multi-functional SUP boards, which perform well in different environments, is a key focus area of prominent market vendors. Convergence of key factors such as rising number of stand up paddle rental centers with well-experienced and licensed instructors, and product availability via various networks, has been favoring well for the market’s growth.
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Inflatable SUP Boards Gaining Ground, as Manufacturer Focus Shifts to Material Development
Inflatable stand up paddle boards have become the most popular segment in the SUP industry, with thousands of paddle-boarders preferring inflatable SUPs over their fiberglass counterparts. According to the report, inflatable stand up paddle boards will continue to account for the lion’s share of the market. However, penetration of inflatables varies from country to country. Recent studies state that in Europe alone, Germany depicts robust penetration of inflatable, whereas France, Portugal and the Scandinavian countries demonstrate high solid stand up paddle board sales.
Advanced manufacturing processes employed by leading brands have resulted in the development of relatively lighter inflatable SUP boards that exert comparatively higher level of paddling experience than solid SUP boards, and facilitate storage and transport. Materials have taken a leap ahead in terms of technological understanding, meanwhile aiding construction of stiffer, lighter, and more resilient inflatable stand up paddle boards that offer better & enhanced paddling experience.
A key area of inflate SUP board development has been the material itself, as manufacturers and vendors seek stronger materials with improved performance attributes. Incorporation of such materials help in maintaining the flexibility, and durable properties essential for inflatable SUP boards, thereby boosting their sales.
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Stand Up Paddle Board Market: Preeminence of North America Prevails with Strong Consumer Affinity Toward Water Sporting Activities
North America continues to be the tip of the spear in terms of revenues from stand up paddle board sales. Most of the region’s dominance can be attributed to the wider consumer base coupled with their robust affinity toward various water sporting activities, and stand up paddle boarding is no exception. Among various paddle sports, kayaking and SUP boarding are most popular among water sports enthusiasts in the region, particularly the youth population.
Initiatives taken by global water sports associations, such as International Surfing Association, for establishing SUP boarding championships, such as the National Standup Paddleboarding Championship in North America, have attracted more and more individuals toward participating in the sport. This has and will continue to augur well for sales of SUP boards worldwide.
The report estimates independent sports outlet to endure lucrative distribution channel for stand up paddle boards. These outlets offer wide variety of popular stand up paddle board brands, which has made them attractive destination for SUP boarding enthusiasts.
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