The Global Surfing Market is Projected to Reach US$10.3 Billion by 2024

Rising Popularity of Surfing as a Recreational and Sporting Activity Drives Growth in 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 Surfing market is projected to reach US$10.3 billion by 2024, driven by the rapidly rising popularity of surfing as recreational and sporting activity across the world. The increased access to surfing through the establishment of artificial wave pools and surf parks is also driving sales of surf wear and equipment.

Surfing is a surface water sport where a participant riding a board (the surfboard) is carried away by a breaking wave. The surfing industry worldwide has made tremendous gains over the past several years, and continues to evolve driven by efforts of surfing equipment makers, marketers and associations to make surfing much more approachable, as seen through the roll out of public surfing facilities and artificial wave pools. The sport of surfing has also emerged a fashion and lifestyle. With television shows, movies and music portraying surfing as a cool hobby, the activity has managed to grab the interest of individuals across all age groups, and also fueled growth in tourism to popular surfing destinations. In addition to surf tourism, the growing focus on wellness and fitness is also leading to increased interest in surfing, as spas and wellness centers promote the sport as a fitness regimen. With interest in surfing rising over the years, the demand for a variety of fashionable and performance-oriented apparel and surf gear continues to grow.

The changing surfing demographics are expected to drive sales of surf wear and surf equipment in the coming years. Increased accessibility and affordability has drawn significant number of surfing participants and attracted wider demographic clusters in the recent years. Besides being an important part of youth culture, surfing over the years has attracted increasing number of adults, senior citizens and women. In particular, the growing participation of women in surfing activity, both as a leisure activity and in competitive events, presents significant opportunity for surf wear and equipment market. Women are taking up surfing and other offshoot activities such as standup paddleboarding (SUP) as fitness and wellness routines, thus presenting surf wear as a lucrative business. The inclusion of surfing in Olympics 2020 to be held in Tokyo presents a huge growth opportunity for surfing as a sport, thus promising growth in sales of surf gear and apparel over the coming years. The increasing number of artificial or manmade surf parks being established across the world also augurs well for surfing industry, including vendors of surfing apparel and equipment.

As stated by the new market research report on Surfing, the United States represents the largest market worldwide. The increasing preference for surfing as a preferred outdoor activity among the younger generation and growing adoption of surfing as part of health and wellness routines are driving demand for surf apparel and equipment. Australia is forecast to register the fastest CAGR of 5.9% over the analysis period. The country’s deeply ingrained surfing culture has over the years played a critical part in promoting the surfing apparel and equipment market. While surfing is popular among Australians, growing number of visitors coming to Australia to take part in surfing activity also presents growth opportunity for the surf products market.

Major players covered in the report include adidas Group, AJW Surfboard, Billabong International Limited, Boardriders Inc., Body Glove, Channel Islands Surfboards, Firewire Surfboards LLC, Globe International Ltd., Gul Watersports Ltd, Harbour Surfboards, Naish International, Nike Inc., O'Neill, Rip Curl International Pty Ltd., 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 Surfing market is also analyzed by the segments – Apparel and Others.

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