The global surfing apparel and accessories market size is
expected to reach USD 1.56 billion by 2027, expanding at a CAGR of 5.3% over
the forecast period, according to a new report by Grand View Research, Inc.
Increasing participation of people in water sports, coupled with growing
popularity of surfing as a fitness activity, is a major factor driving the
market.
Surfing has been highly perceived as a game of the
youth and has emerged as an indicator of active and physically exhilarating
sports among young minded people. Enthused by the opportunities existent in
this space, a large number of players have been venturing in the surfing
industry to develop technological advanced equipment and accessories, which
will, in turn, have a positive influence on the surfing apparel market. For
instance, in October 2016, Trinity Board Sport announced the launch of a
surfboard based on parabolic rail system technology. The board offers 20%-30%
more volume than a conventional surfboard, thus offering high degree of
balancing and significant performance advantages.
Based on product, surf apparel held the largest share
of 77.3% in 2019 and is expected to maintain its lead over the forecast period.
Increasing product innovation by leading manufacturers, such as Quiksilver,
Channel Islands Surfboards, and Firewire Surfboards, is fueling the segment
growth. For instance, in July 2019, Billabong, an Australia-based company
announced the launch of a graphene-enhanced surfing apparel named Furnace
Graphene. This product is intelligently designed where graphene wrapped yarns
trap and retain heat more efficiently, thereby offering warmth to the wearer.
North America emerged as the largest regional market
and accounted for a share of 47.3% in 2019. Predominating presence of a
well-established water sports/surfing infrastructure in the region is one of
the key factors driving the market.
Asia Pacific is expected to be the fastest growing
market with a CAGR of 6.0% from 2020 to 2027. International tourist arrivals
and tourist expenditure on water sports have set the tone for surfing sports in
the region. Many prominent beaches in the region such as Kuta beach in
Indonesia, Weligama beach in Sri Lanka, Pansea in Thailand, and Bai Dai beach
in Thailand have been gaining traction among the tourists as a popular
destination for surfing. These practices have increased the visibility and
acceptability of the sport in the region.
For full research report on Surfing Apparel & Accessories Market visit here:
https://www.grandviewresearch.com/industry-analysis/surfing-apparel-accessories-market
Surfing Apparel & Accessories
Market Report Highlights
- By product, surf accessories are expected to expand at the fastest
CAGR of 5.7% from 2020 to 2027. Increasing demand for accessories, such as
wetsuit booties and reef socks, among professional surfing enthusiasts has
been driving the segment
- Online distribution channel is projected to expand at the fastest
CAGR of 5.9% from 2020 to 2027. The online retailers offer a wide range of
surfing apparel and accessories with special pricing and great discounts
seasonally offered, which is a key factor enhancing the segment growth
- Asia Pacific is anticipated to be the fastest growing market with a
CAGR of 6.0% from 2020 to 2027 as a result of changing consumer viewpoint
towards adventure water sports
- Major manufacturers are adopting various methods for developing
eco-friendly outdoor clothing or apparels. For instance, in November 2019,
Finisterre, a U.K.-based company, collaborated with Innovate UK’s
Knowledge Transfer Partnership and the University of Exeter to design
wetsuit techniques that would save close to 380 tons of discarded wetsuits
sent to landfill every year in U.K.
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Surfing Apparel & Accessories
Market Segmentation
Grand View Research has segmented the global surfing
apparel and accessories market on the basis of product, distribution channel,
and region:
Surfing Apparel & Accessories
Product Outlook (Revenue, USD Million, 2016 - 2027)
- Surf Apparel
- Surf Accessories
Surfing Apparel & Accessories
Distribution Channel Outlook (Revenue, USD Million, 2016 - 2027)
- Offline
- Online
Surfing Apparel & Accessories
Regional Outlook (Revenue, USD Million, 2016 - 2027)
- North America
- U.S.
- Europe
- U.K.
- France
- Spain
- Asia Pacific
- Australia
- New Zealand
- Central & South America
- Brazil
- Middle East & Africa
About
Grand View Research
Grand View Research, Inc. is a U.S. based
market research and consulting company, registered in the State of California
and headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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