Global Market for Boardsports is Forecast to Reach US$19 Billion by 2020

Media Coverage Induced Growth in Consumer Base Drives the Global Boardsports Market, According to New Report by Global Industry Analysts, Inc.

GIA announces the release of a comprehensive global report on Boardsports markets. Global market for Boardsports is forecast to reach US$19 billion by 2020, spurred by strong media coverage and the ensuing popularity and adoption of these games by both men and women.

Boardsports is a part of extreme sports which comprise high risk activities involving speed, physical exertion, and use of highly specialized gear. Despite the growing popularity of boardsports, only a few countries such as the United States, Australia, and France, have built a reputation as prime board sports destinations. Following a slump during the 2007-2009 recession period, boardsports are making a strong comeback in sync with the rebound of the global economy. The sport is benefiting from increasing participation of women who represent a lucrative consumer base for sporting equipment, apparel, and accessories. Media coverage is a key factor catalyzing the popularity of boardsports, with manufacturers leveraging print and digital media as well as the bustling e-commerce and social media platforms for building appeal for the sport. Equipment makers are introducing environment-friendly sporting gear with higher content of recycled and renewable materials. Manufacturers are also focusing on the development of innovative materials and electronics to improve overall comfort, safety, and protection offered by boardsports equipment.

To counteract intensifying competition in the market, manufacturers are investing heavily in R&D to develop innovative products and are also expanding advertising budgets to boost brand equity. Board designs continue to evolve in sync with changing consumer interests, while clothing and apparel trends follow convenience and comfort with designers promoting slim/relaxed fits, articulated cuts and light breathable fabrics. Surfing continues to make rapid gains, attracting participants from both genders across all age groups. Given the strong potential for surfing from the tourism sector, efforts are on to popularize the sport in emerging economies in Asia, Central and Eastern Europe, and Africa. Implementation of beach nourishment programs in luxury tourist destinations including in the United States and the Netherlands is expected to positively influence surfboarding.

Wakeboarding represents one of the fastest growing water sports, amassing a large cult of followers spurred by the publicity offered by wide television coverage. The rise in the number of amateur and professional wakeboard events and establishment of clubs to promote the sport are additionally expected to fuel growth in the market. Kiteboarding, skateboarding and windsurfing are regaining popularity largely due to the visual appeal of the sports. Requiring just smooth flat waters and dependable winds, kiteboarding especially is witnessing increasing participation all through the year, largely due to the ease of the sport that appeals to amateurs.

As stated by the new market research report on Boardsports, the United States represents the single largest market worldwide supported by a large enthusiastic base of urban lifestyle surfers and pro surfers with access to major hotspot locations such as the Californian Coast. Asia-Pacific ranks as the fastest growing market with a CAGR of 6.0% over the analysis period supported by the rise of newly emerging base of affluent middle class population with a growing penchant for lifestyle sports.

Major players covered in the report include Aloha Boardsports Inc., Billabong International Limited, Body Glove International LLC, Capita, Forum Boardshop, Globe International Ltd., Gul Watersports Ltd., K2 Snowboarding, Mervin Manufacturing, Meta-Sports CO Ltd., Never Summer Industries, Nike Skateboarding, Nitro USA Inc., North Kiteboarding, Hurley International, O'Neill, Quiksilver Inc., Rip Curl Inc., Salomon Snowboards, Volcom Inc., and The Burton Corporation, among others.

The research report titled “Boardsports: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of trends, drivers, challenges, issues, mergers, acquisitions and other strategic industry activities of leading players worldwide. The report provides market estimates and projections for major geographic markets, including the United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific, and Rest of World. Product segments analyzed in the report include Summer Boardsports and Snowboarding.