Convergence of Lifestyle Sports Culture & Tourism Development Drives the Global Market for Board Sports

Emergence of sporty lifestyles as vital for health and well-being coupled with the intersection of sports and tourism and the resulting increase in skiing, surfing, and snowboarding vacations are poised to drive the global Board Sports market to exceed US$21 billion by 2024.

Historically regarded as a game of youth, mostly indulged by juniors in the age group of 6-16 years, board sports now enjoy a broad customer base, encompassing young adults as well as mature, grown-up individuals, largely owing to a rise in consumer spending, improving global economic conditions, rising focus on leading active and healthy lifestyle, growing popularity of elite athletes, and undying interest of hard-core participants. Snowboarding's inclusion into the Winter Olympics clearly illustrates the rising popularity of boardsports. The board sports market 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 board sports, with manufacturers leveraging print and digital media as well as the bustling e-commerce and social media platforms for building appeal for the sport.

Steady growth is projected for the market in the coming years driven by continued efforts by manufacturers on the development of innovative materials and electronics to improve overall comfort, safety, and protection offered by boardsports equipment, apparel, and accessories. 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. Snowboard gear today are equipped with a wide range of features like Bluetooth earphones, remote controlled GoPro cameras, smartwool, ultra-waterproofing, thermo-protection, rubberisation, and laminates, among others. Launch of environment-friendly sporting gear with higher content of recycled and renewable materials also augurs well for the market. Other factors benefiting market prospects in the near term include ongoing efforts to popularize surfing in emerging economies in Asia, Central and Eastern Europe, and Africa; beach nourishment programs in luxury tourist destinations in the United States and the Netherlands; and rise in the number of amateur and professional wakeboard events and establishment of clubs to promote the sport. Requiring just smooth flat waters and dependable winds, kiteboarding is also expected to witness increasing participation in the coming years, largely due to the ease of the sport that appeals to amateurs.

As stated by the new market research report on Board Sports, the United States and Europe represent the largest regional markets worldwide. Growth in these markets is supported by a large enthusiastic base of urban lifestyle surfers and pro surfers with access to major hotspot locations; steadily rising demand for premium board sports equipment, apparel, and accessories; increasing consumer participation in recreational sports and fitness activities such as surfing, skiing, and snowboarding, and growing prominence of specialty stores. Asia-Pacific ranks as the fastest growing market with a CAGR of 5.3% 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 in the market include adidas AG, Aloha Boardsports, Inc., Boardriders Inc., Billabong International Limited, Body Glove International, LLC, Burton Snowboards, Capita, Flow Sports, Inc., Forum Boardshop, Globe International Ltd., Gul Watersports Ltd., Hurley International, K2 Snowboarding, Mervin Manufacturing, Meta-Sports CO Ltd., Never Summer Industries, Nike Skateboarding, Nitro USA, Inc., North Kiteboarding, O'Neill, Rip Curl, Inc., Salomon Snowboards, and Volcom, Inc., among others.

The research report titled “Board Sports: 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.

For enquiries e-mail us at rsd@strategyr.com or info411@strategyr.com.

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