The report titled “Global Surfing Equipment Market Outlook to 2022 – by Equipments (Surf Board and Surf Gear & Accessories), by Region (Americas, Europe, APAC & MEA), by New & Existing Demand and by Distribution Channel” believe that promotion of the equipments through surf training institutions, owing to the sustained product marketing efforts of surfing equipment manufacturers would continue to surge growth in the market.
Rising number of surfing professionals, growing support from the government and tourism boards to market various surfing activities, rise in population of millennial, expansion in marketing activities undertaken by major manufacturers and growing penetration of online retailing in the market have been regarded as the key drivers of growth in the global market during the year 2012-2017.
The market showcased a moderate growth at a CAGR in terms of consumer expenditure. Surfing is a very popular sport with nearly 18 million surfers globally. Participants from all age groups are attracted towards surfing. The market has been experiencing a strong evolution driven by sustained efforts of surfing equipment manufacturers, distributors, public & private associations and surf institutions engaged in making the sport more accessible & popular amongst people. The market growth has largely been supported by the factors such as rising interest of people in the sport as a leisure and sporting activity, easy accessibility to the sport through surf parks and surf pools and technological innovations that are highly focused on developing sophisticated surf-wear and surf-gear. Recently, it has been observed that this market has undergone transformation in target demographic group. More number of adults, senior citizens and women are increasingly participating in the sport. The rising participation from women in the sport has offered a lucrative growth opportunity for the surf wear market. An increase in the number of surfing destinations such as surf parks, surf pools, both indoor and outdoor, with artificial wave technology has made the sport more popular among the people. Between the year 2010 and 2014, the number of Aussies participating in surfing increased from 702,000 to 746,000. During the same period, the number of Aussie women taking part in surfing rose from 218,000 to 258,000, an increase of almost 20%. Moreover, the number of teenage girls aged 14-17 who surf regularly or occasionally grew from 31,000 to 50,000 over that time, while the number of 18-24 year-old women rose from 46,000 to 59,000. The manufacturers of surf wear have highly focused on innovations in materials, fabrics, designs depending on the customer’s choice and are offering high-performance carbon fiber based boards at reasonable prices to the target audience.
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Ankur Gupta, Head Marketing & Communications