The Global Market for Surfing is Projected to Reach US$9.5 Billion by 2022

June 01, 2016

Rise of Surfing as a Lifestyle Sport Among all Age Groups Drives the Global Surfing Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Surfing market. The global market for Surfing is projected to reach US$9.5 billion by 2022, driven by the growing interest in surfing both as a leisure and sporting activity, increased accessibility to surfing through surf parks and surf pools and technology innovations focused on developing sophisticated surf-wear and surf-gear.

Surfing is a surface water sport where a participant riding a board (the surfboard) is carried away by a breaking wave. The surfing industry continues to evolve, driven by sustained efforts of surfing equipment makers, marketers and associations to make surfing much more accessible. Increased accessibility and affordability has drawn significant number of surfing participants and has attracted wider demographic clusters in recent years. The market also benefits from the transformation of surfing sport into a fashion trend and the resulting popularity of surf wear and surf-inspired clothing. Changing surfing demographics are set to transform the surf industry and fuel growth in surf-wear and surf-equipment in the coming years. Already an important part of youth culture, surfing over the last few years has been attracting more number of adults, senior citizens and women. The growing participation of women in this traditionally male-dominated sporting activity is especially presenting surf-wear market lucrative opportunities for growth. With surfing included in the 2020 Olympic Games to be held in Japan, aggressive promotional campaigns are being launched by sporting associations as well as equipment manufacturers across the world to widen audience base for the event. The emergence of surf parks and surf pools, both indoor and open-air, with artificial wave technology even in landlocked regions of the world is also expected to enable more people gain access to and experience the thrill of surfing. Surf parks are further expected to complement the efforts aimed at transforming pro-surfing into an arena-based mainstream sport. With surfing poised to become more popular both as a sport and leisure activity, sales of surfing apparel and equipment are expected to grow in the coming years.

With television shows, and movies portraying surfing as a cool hobby, tourism to popular surfing destinations is gaining momentum. As more travelers look to take surfing lessons during vacations, the travel industry is cashing in on this trend by offering exclusive surf vacation packages. Surfing market is also benefiting from the growing focus on wellness and fitness, as spas and wellness centers increasingly promote the sport as a fitness ritual. As warm water surfing in tropical locations turn crowded as a result of mass tourism, there is increasing interest in cold water surfing. The trend is expected to bring conventionally unpopular surfing locations into the spotlight thus expanding the addressable market for surfing equipment and gear. Manufacturers are currently focusing on the development of innovative materials and technical fabrics to design trendy and high-performing surf wear. Surfboard manufacturing is also laden with innovations as manufacturers work to edge out competition by designing high-performance carbon fiber based boards at reasonable prices.

As stated by the new market research report on Surfing, the United States represents the largest market worldwide supported by the long established surfing culture in the region and the resulting large base of surfer population. Australia is poised to grow at the fastest CAGR of 5.5% over the analysis period driven by rising tourism, increased spending on family vacations, several attractive national surfing reserves in the country and the popularity of beach and surf tourism and recreation.

Major players covered in the report include AJW Surfboard, Billabong International Limited, Body Glove International LLC, Channel Islands Surfboards, Firewire Surfboards LLC, Globe International Ltd., Gul Watersports Ltd., Harbour Surfboards, Naish International, Nike Inc., O'Neill, Quiksilver Inc., Rip Curl International Pty Ltd., adidas Group, and Volcom LLC, among others.

The research report titled “Surfing: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies. The report provides market estimates and projections for all major geographic markets such as the US, Europe ((France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Australia and Rest of World. The report analyzes the surfing market by the segments – Apparel and Others.