Stand Up Paddle Board Market worth USD 2.99 Bn by 2029: Cognitive Market Research

As per Cognitive Market Research analysis, the stand-up paddle board market size is projected to grow from USD 1.44 Bn in the year 2021 to USD 2.99 Bn by 2029 at a CAGR of 9.63% from 2021-2029.

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Stand-up paddleboarders stand on floating boards in the water and drive themselves through it with a paddle. Stand-up paddle boarders use a paddle to travel through the water while standing up on the board. Risers may conduct a variety of activities on a SUP, including yoga, fishing, racing, and traveling. The different sizes and forms of stand-up paddleboards (SUPs) are made for different types of paddling. A paddler must select the appropriate board for their size and the circumstances they will be paddling in. The rising fishing activities drive the growth of the market. The people with their families and friends gathered along the shore or in fishing boats enjoying freshwater, fly-fishing, and saltwater fishing activities. This drives market growth. However, currently, the world is facing a lack of professionals in this sport, which in turn hampers the growth of the market.

In recent years, many individuals like traveling by boat for recreational purposes. When they go to the beach, they prefer to water paddling, fishing, or surfing. According to the most recent data (2020) from the Outdoor Foundation, a record 37.9 million people participated in paddle sports including kayaking, canoeing, and stand-up paddleboarding during the pandemic. This is expected to provide numerous opportunities for market growth.

Regional Analysis of the Stand-Up Paddle Board Market:
• North America dominates the stand-up paddle board market due to the region's high demand for stand-up paddle boarding. The region has a huge coastline with plenty of opportunities for paddle boarding. The use of paddle boards for recreational and fitness purposes is also on the rise, which has helped the sport become more well-liked. Additionally, the availability of a large number of players drives regional growth.

Top players involved in the Stand-Up Paddle Board Market:
Some of these players include
• Naish International
• EXOCET
• Tahe Outdoors
• C4 Waterman
• Ben Buckler Board
• Blue Planet Surf
• Funky Sup
• Dunn-Rite Products
• Hobie Cat Company
• Rave Sports
• Sun Dolphin Boats
• Coreban
• NRS
• Slingshot Sports
• Red Paddle Co
• Laird Stand Up
• Tower Paddle Boards
• THURSO SURF
• Decathlon
• Sea Eagle Boats, Inc.
• Boardworks Surf & SUP
• Others.

Current Trends of Manufacturers:
• In October 2022, Red Paddle Co. has created its first limited-edition board in collaboration with ocean conservation non-profit Love the Oceans. 10% of the board's sales proceeds will be given to a conservation organization. The award-winning Ride 10'6" paddle board was the subject of a global campaign that encouraged aspiring designers to try their hand at coming up with a distinctive design. The competition challenged a wide range of creatives to create a unique repeating pattern that would be used on the first-ever limited-edition Red Paddle Co SUP (Stand Up Paddle) in collaboration with the US-based creative design platform, Spoonflower, and its enormous artist community.

• In June 2021, the outdoor lifestyle company and world leader in stand up paddle boards, iROCKER, announced a partnership with Life is Good, the brand known for its upbeat attitude and positive gear. Inflatable stand-up paddle boards (SUPs) with two new co-branded designs from Life is Good and iROCKER will be available. These SUPs will include the high-quality construction of iROCKER and the confident, bold art and message of Life is Good. For a brief period of time, the boards will be accessible on both firm websites.

• In January 2018, The companies of The SUP Connectio and West Coast Paddle Sports have merged, bringing together the largest paddleboard rental fleet in San Diego Bay with the largest retailer of paddleboards, outrigger canoe gear, and SUP retail and servicing. The greatest range of water sports equipment in San Diego is now accessible for rentals and retail sales thanks to this exciting combination of services.

Segment Analysis:
• Based On The Construction Methods, the inflatable segment is dominating the stand-up paddle board market and growing at a high CAGR. In recent years, inflatable boards have become more and more popular as their quality has improved.

• Based On The Activity, the windsurfing segment dominates the market by taking high revenue market share. This is attributed owing to the growing number of windsurfing.

• Based On The Sales Channel, the offline sales channel dominates the market. Mostly the manufacturer relies on distributors who reach the customers through retail, wholesale, or direct distribution. The online segment is expected to grow at a high CAGR due to the growing usage of websites, social media communities, and e-commerce local partners.

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Cognitive Market Research has evolved as one leading market research and consulting firm and it provides services across multiple domains. Cognitive Market Research gathers and analyzes data about customers, competitors, distributors, and other market actors and forces operational across the value chain. As a market research company, we follow a complete process of gathering information about the target market and end-use industries to verify the complete journey of the product or service in the global market. It helps our readers understand the demand and viability of their product/service and how it might perform in the real world and help them to build business strategies accordingly.

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