NEW YORK, July 1, 2024 /PRNewswire/ — The global surfboard market size is estimated to grow by USD 4.80 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 9.2% during the forecast period. This growth is being driven by a number of factors, including:
- The rising popularity of surfing as a recreational activity
- The development of new and innovative surfboard designs
- The increasing availability of educational surfing courses
The surfboard market is also being driven by the growing trend of eco-friendly and sustainable products. Consumers are increasingly looking for surfboards made from recycled materials or with production methods that have a lower environmental impact.
Research report provides comprehensive data on impact of trend. For more details- Download a Sample Report
However, the surfboard market also faces some challenges. The increasing adoption of do-it-yourself (DIY) surfboards is posing a challenge to traditional surfboard manufacturers. Additionally, bodysurfing and stand-up paddleboarding (SUP) are growing trends that could cannibalize sales of surfboards.
Despite these challenges, the surfboard market is expected to continue to grow in the coming years. The increasing popularity of surfing and the development of new and innovative surfboard designs are expected to drive market growth.
Learn and explore more about Technavio’s in-depth research reports
Catamaran Market: The catamaran market is experiencing robust growth, driven by increasing demand for luxury and recreational boating worldwide. With innovations in design and technology, catamarans offer superior stability and spaciousness, appealing to both leisure seekers and commercial operators alike.
Football Market: The football market continues to thrive with passionate global fan engagement and lucrative commercial opportunities. From major leagues to grassroots initiatives, the sport’s popularity fuels sponsorship deals, media rights sales, and merchandise sales, making it a cornerstone of the global sports industry’s economic ecosystem.
SOURCE Technavio
