Global Stand Up Paddle Board Market 2016-2020

Overview of the global stand up paddle (SUP) board market

Technavio’s market research analyst predicts the global stand up paddle (SUP) board market to grow at a CAGR of over 15% between 2016 and 2020.  The soft adventure sporting goods market, especially SUP board, holds great growth potential across the growth. Such noticeable growth can be attributed to the surging interest of consumers in outdoor recreational activities and the availability of a wide range of SUP boards. Moreover, the tourism industry has also encapsulated water sports among the various activities available for domestic and international tourists, which has led the global market to grow at a fast rate, witnessing considerable demand from the emerging regions. Moreover, the rising interest in SUP boarding has prompted several vendors to introduce new products for better SUP boarding experiences and water sporting activities. They are coming up with of multi-functional or multi-purpose SUP boards, which can be used in different environments. The growing interest in recreational water sports, including SUP boarding, is expected to be a major driver for the global SUP board market during the forecast period.

According to the stand-up paddleboard industry statistics, the Americas dominated the SUP board market and occupied the largest portion in 2015. Much of the region’s growth is due to the presence of a large consumer base along with the strong affinity toward water sporting activities of the people. Among the several paddle sports activities, kayaking and SUP boarding are the most popular activities among people, especially teenagers, in the region. Several initiatives are being taken to establish championships for SUP boarding, which will further augment the growth prospects for the stand paddle board market in the Americas.

Competitive landscape and key vendors

The current competition in the global SUP board market coupled with numerous technological advancements and rapidly changing consumer preferences pose serious challenges for vendors' operations. It is important for the vendors to differentiate their product and service offerings through a clear and unique value proposition To sustain themselves in such as intense competitive scenario.  This market is dominated by the leading international players such as BIC Sport, Naish, Red Paddle, Starboard, and Tower. These vendors offer efficient SUP boards as part of their broad product portfolio.