Global Kayak Market Analysis, Industry Research and Trends for 2017-2026
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Key Projections on Future of Kayak Market for the Forecast Period 2017-2026
1- North America is set to record the fastest kayak sales expansion through 2026, trailed by Asia-Pacific excluding Japan. Revenues from kayak sales in North America will account for bulk share of the market during 2017 to 2026.
2- Revenues from kayak sales in Europe and APEJ are also anticipated to remain significant. In contrast, revenues from kayak sales in Middle-East & Africa and Latin America will continue to be sluggish.
Recreational kayak are expected to remain dominant among products in the global kayak market. Approximately half revenue share of the market is projected to be held by recreational kayak during the forecast period.
3- Touring kayaks are also expected to endure as popular product in the market, with sales poised to exceed revenues worth US$ 160 Mn by 2026-end. Racing kayaks, on the other hand, will continue to remain the least lucrative product in the market.
4- In terms of revenues, sports variety stores are set to spearhead the global kayak market on the basis of sales channels, followed by modern trade channels and third party online channel. Direct to customer online channel will account for the smallest market revenue share during 2017 to 2026.
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Sports variety stores and modern trade channels offer popular brands of kayak, which has made them attractive shopping destinations. These sales channels enable a closer evaluation of the products, meanwhile providing the required intelligence and support to customers. Presence of expert customer service personnel has further propelled popularity of these sales channel in the global kayak market. Sports variety stores and modern trade are set to account for the largest revenue shares of the market during the forecast period.
Pervasiveness in high demand for recreational kayak will remain intact in the upcoming years. Recreational kayak will continue to be sought-after among various products available in the market, as these are suitable for paddlers with all abilities in light of their characteristics such as ease of paddling & comfort, stability, and user-friendly design. Revenues from recreational kayak sales will remain slightly larger than those from touring and racing product segments combined.
The global kayak market is relatively more competitive across established western markets. Prevailing competition along with technological upgrades that have been and are being made in kayaks is likely to have a positive influence on the market expansion. In a bid to acquire a competitive advantage, distinguishing product & service offerings via a unique and clear value proposition has become imperative for prominent players in the global kayak market.
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