With a projected worth of US$ 255 million in 2022, the worldwide bodyboard market is expected to grow at a compound annual growth rate (CAGR) of 6.8% to reach US$ 493.1 million by the end of 2032.
Since building a strong and reputable brand name requires significant financial investment and technological innovation, it is difficult for new competitors to enter the bodyboard industry. To get a sizable market share, a production plant and distribution network must be established with a notably substantial expenditure.
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Because there are many different suppliers and service providers in the bodyboard industry, both producers and customers can choose a provider based on convenience. Manufacturers are concentrating on product price by cutting operational expenses and giving distributors large margins in an effort to get a larger market share.
The global surfing market is being favorably impacted by the growing number of people who like surfing, whether it is through regular strength training memberships or occasional participation in sports.
Key Companies Profiled
- Agit Global
- ALDER SPORTSWEAR LTD
- AZTRON
- Bodyboard HQ
- BZ Pro Board
- Catch Surf USA
- CORE Bodyboards
- ES Water Sports
- Hardy Shapes
- Hubboards
- Manta
- Mike Stewart Inc.
- Morey BodyBoards
- Nomad Bodyboards
- Sniper Bodyboards
- Softech Europe
- South Bay Board Co.
- TANDM SURF
- Tiki Surf
- Vision Softboards
Manufacturers are spending money creating bodyboard material kinds that are efficient. Players in the market including Aztron and Alder Sportswear Ltd. have introduced more recent models with longer lengths and better functionality.
Long-term relationships with sports authorities and cooperative methods for creating newer, environmentally friendly bodyboards are expected to create prospects for market participants to generate income in the future.
Offering Short-Term Clients Rental Services That Increase Profits
Businesses find it challenging to thrive in the fast-paced commercial climate due to market competition. Players in the industry have begun to provide rental services to short-term clients in order to increase revenues and obtain a competitive advantage over other businesses.
Bodyboard manufacturers are going after well-known rental companies that rent out surfing gear and have a loyal customer base in the region in which they operate. This business model is being used by many firms to increase the scope of services they offer internationally.
International Occurrences Like the Olympics and World Surf League Will Increase Notoriety
Market demand will be driven by the government investing more on sports to improve athletes' performance in events like the Olympics and the World Surf League.
Leading economies in the world, Europe and North America, are investing millions of dollars in leisure activities to develop its players in these kinds of skills. Growing adherence to sports has led to an increase in the popularity of the activity and, with it, the need for the gear required for it.
All of this is drawing new players into the bodyboard market, be they distributors, providers, or purchasers.
Increasing Novice Input and Increasing Product Exposure at Trade Exhibitions
The tendency of bodyboards being easily accessible to beginners keeps increasing bodyboard sales, which in turn propels the market's expansion.
Sports organizations are concentrating on setting up trade exhibits to increase the sport's appeal. Explorers or recreational users are the bodyboard market's intended end-user sector. These are consumers that don't mind switching to new brands and items when it's convenient for them.
In order to get a significant market share, prominent industry participants are mostly concentrating on design and comfort because these features are what encourage consumers to remain with a certain brand.
Competitive Landscape
Leading bodyboard manufacturers include: Mike Stewart Inc., Agit Global, Alder Sportswear Ltd., Aztron, Bodyboard HQ, BZ Pro Board, Catch Surf USA, Core Bodyboards, ES Water Sports, Hardy Shapes, Hubboards, Manta, Softech Europe, South Bay Board Co., TANDM SURF, Tiki Surf, and Vision Softboards.
To guarantee customers a comfortable ride over waves, bodyboard businesses should concentrate on developing new products and creative designs. Another popular business strategy is renting out services since they generate a lot of money and need nothing in the way of client acquisition.
Segmentation of Bodyboard Industry Research
- Bodyboard Market by Type :
- Conventional Bodyboards
- 30.1" to 35"
- 35.1" to 40"
- 40.1" to 45"
- Greater Than 45"
- Tandem Bodyboards
- Bodyboard Market by Buyer :
- Recreational/Hobbyists
- Professionals
- Bodyboard Market by Sales Channel :
- Offline Sales Channels
- Modern Trade
- Sports Equipment Stores
- Surfing Equipment Stores
- Water Sports Stores
- Brand Stores
- Online Sales Channels
- Company Websites
- e-Commerce Platforms
- Bodyboard Market by Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia Oceania
- MEA
This expansion is underpinned by advancements in bodyboard technology, rising disposable incomes, and a growing consumer base seeking outdoor and adventure experiences. Manufacturers and stakeholders in the bodyboard industry are presented with significant opportunities to innovate and capture new market segments. As the market evolves, it will be essential for companies to stay attuned to consumer preferences and emerging trends to maintain a competitive edge and drive continued growth.
FAQ:
What is the expected CAGR for the market growth?
Bodyboard sales are expected to increase at a CAGR of 6.8% through 2032
Which type of bodyboard is in highest demand?
Conventional bodyboards are immensely popular due to their enhanced aerodynamic design.
How has the bodyboard market performed in recent years?
Demand for bodyboards increased at 3.5% CAGR during 2017-2021.
