Rising Surfing Industry to Fuel Surfboard Sales Through 2026

The recently published market study by Fact.MR highlights the current trends that are expected to influence the dynamics of the Surfboard Market in the upcoming years. The report introspects the supply chain, cost structure, and recent developments pertaining to the Surfboard Market in the report and the impact of the COVID-19 on these facets of the market. Further, the micro and macro-economic factors that are likely to impact the growth of the Surfboard Market are thoroughly studied in the presented market study.

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The surfboard market is projected to witness revenue generation of nearly US$ 950 Million, a Y-o-Y growth of over 6.5% in 2018 over 2017, according to Fact.MR valuation. A steady growth of the surfing industry and increasing accessibility of beaches for recreational activities are few of the prominent factors driving the surfboard market revenues.

Fact.MR study opines that sales of shortboards to outsell other surfboard categories. Continued preference for shortboards among surfers reserves the pole position of shortboards in the surfboard market. The status quo is likely to sustain in 2018 and hold nearly one third share of the surfboard market.

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While shortboards are highly preferred owing to their superior performance, Fact.MR study shows that demand for longboards among traditional surfers is here-to-stay. Collectively, shortboards and longboards are expected to hold over half the market share in 2018.

global surfboard market

Sports Variety Stores Spearhead Surfboard Sales, Direct-to-Consumer Online Channels Emerging Rapidly

The study finds that surfers prefer purchasing surfboards from sports variety stores. Along the same lines, Fact.MR analysis reveals that sales through sports variety stores will witness a rise of US$ 22 million in 2018 over 2017. The convenience of choice, greater exposure and brand visibility available in sports variety stores are few of the reasons responsible for the rising sales through this channel.

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Franchised stores will hold nearly 20% share of the surfboard market in 2018, as per Fact.MR valuation, whereas sales through direct-to-consumer online channels will witness rapid growth rate at over 9% in 2018. Changing population demographics of surfers play a significant role in these purchase trends wherein millennials and Gen Z’s preferences are dramatically shifting.

Apart from recreational activities, surfboards are highly used in surfing institutions such as surfing academies, water sports clubs, surfing schools and private clubs. Because of this, institutional sales of surfboards continue to occupy a larger market share in the surfboard market. Fact.MR study estimates that institutional sales of surfboards will continue to capture over half the market share in 2018 and throughout the forecast period.

Although individual buyer contribution continues to dwindle owing to the preference for renting or leasing a surfboard, 2 out of 5 surfboards sold in 2018 will be through individual buyers.

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The Fact.MR report tracks the surfboard market for the period 2017-2026. According to the report, the surfboard market is projected to grow at over 6% CAGR through 2026.

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