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Inflatable Stand-Up Paddle Board (SUP) May be Replaced Because of Short Service Life，while its Use in Yoga will Bring New Opportunities for the Industry

  • PostDate：2021-12-13

Paddle boarding originated in Hawaii and the United States. In recent years, it has become popular and fastest-growing water leisure sport in the world. This sport is performed mostly by stand-up paddle boards, which are called Stand Up Paddle, SUP for short. The paddle board has a wide and thick surface, which provides more buoyancy and makes itself easier to balance. There is also an extra paddle in the player\'s hand that can be paddled on different surfaces. Not only does this sport allow people to have a sunbathe and enjoy nature, but it works almost every muscle in the body and improves balance. There are two main types of stand-up paddle boards: inflatable and rigid. Inflatable SUPs have become increasingly popular in recent years for their small storage space and ease of transportation. 

Inflatable stand-up paddle boards come in the following common sizes: less than 8 ft., 8-10 ft., 10-12 ft., 12-14 ft., and larger than 14 ft. The medium size, 10-12 ft, is the most popular and most widely used. In 2020, 10-12 ft inflatable SUP accounted for 36.60% of the market, ranking first among the five categories. 

According to different application groups, paddle boarding can be divided into two groups, namely professional athletes and amateurs. Amateurs have a relatively large market share. In 2020, amateurs who do the paddle boarding sport accounted for 72.96% of the market, while professional athletes only accounted for 27.04%. Due to the growing interest in outdoor recreation and a growing focus on exciting and challenging sports, paddle boarding will be increasingly used by amateurs and its market share is expected to continue to grow throughout the forecasted years.

Global Inflatable Stand-Up Paddle Board (SUP) Industry Market Status and Prospect Forecast

According to our research, the global inflatable stand-up paddle board industry was valued at $253.87 million in 2015 and grew to $286.19 million in 2019. In 2020, due to the impact of the pandemic, the global market value of the industry decreased from 2019 to $279.7 million.  Based on this, we calculate a series of functions for the data of the past five years and derive them with scientific models. Finally, we predict that the global inflatable stand-up paddle board market will be worth $334.16 million by 2026. The projected CAGR during 2020 to 2026 is 3.01%. 

North America is the largest market by revenue. The market share in 2015 and 2020 was 38.66% and 37.79%, respectively. In 2020, Europe ranked second with the market share of 33.24%. Data show that from 2015 to 2020, the market share of North America and Europe in the global industry fluctuated from rise to decline. In addition, the study found that the market share of Asia-Pacific in the global inflatable SUP industry has been increasing year by year. It rose from 18.21% in 2015 to 19.14% in 2018, and it had risen to 19.87 by 2020. The Asia-Pacific region is a relatively densely populated region, and with the growing population, continued economic development and technological innovation in the region, downstream demand will continue to increase, driving the growth of the inflatable stand-up paddle board market.

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Inflatable SUP companies are mainly from the United States, and the industry concentration rate is very low. The top 3 companies by revenue are Starboard, SUP ATX, and Red Paddle Co. In 2020, their market shares were 4.96%, 4.37% and 3.96%, respectively. The combined market share of the top six companies in 2020 was only 20.36%. 

Development Opportunities and Challenges of Global Inflatable Stand-UP Paddle Board (SUP) Industry 

In recent years, paddle boarding has become a popular water sport and the fastest-growing leisure sport in the world. The growing interest in outdoor leisure activities and the growing participation in paddle boarding will also stimulate demand for inflatable stand-up paddle boards. Inflatable SUP is easy to transport, portable, and takes up little space, these are all the selling points of the product. Consumers do not need an SUV or a van to place it, because after deflation, it can be perfectly rolled into a backpack. But rigid paddle boards are more durable, they have a longer service life and are less likely to break than inflatable paddles. If the inflatable SUP is placed for a long time, the glue will be aging, there will be glue opening, air leakage, wear and tear when playing. Rigid paddle boards are also more flexible, easier to slide, and easier to catch waves if used for surfing. As a result, inflatable SUP is still under threat from alternatives. 

However, in the modern society where people pay more and more attention to leisure, sports and fitness activities, the new term Paddle-board Yoga gradually comes into our sight, and more and more inflatable SUP is used for leisure activities such as yoga, which will become one of the market trends. Because inflatable stand-up paddle boards can come in any shape, they can expand, they can be carried in a backpack, and they have supporting material inside. Inflatable SUP is also softer than regular plastic and wood. It is becoming more and more popular. Market participants are gradually transitioning from standard, full-function inflatable sups to high-quality, special-purpose products such as SUPs for yoga, fishing, or daily exercise. Enterprises should adjust and change in time, improve their own advantages and competitiveness, seize the opportunity as soon as possible.

View the full TOC at: https://www.globalmarketmonitor.com/reports/762561-inflatable-stand-up-paddle-board-market-report.html

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