The global touring stand-up paddle (SUP) market is experiencing a significant growth, and is anticipated to grow considerably in the next few years. Touring SUP is a touring stand-up paddle board, generally pointed at the ends specifically designed for more fast-paced and longer flat-water paddles. Surfing is a growing water sport that is gaining popularity across many regions as a recreational activity. Touring SUPs are different from traditional surfing boards, entailing a stream of consistently growing demand. Surfing enthusiasts stand on these stand-up paddle boards and use a paddle to propel themselves through the water, unlike conventional surfing where riders had to wait until a wave comes. Considerable transitions in surfing equipment is expected to foster the market growth during the forecast period.
COVID-19 Scenario Analysis:
Production shutdown scenario
Production and manufacturing operations for touring stand-up paddle boards have been ceased, owing to implications of COVID-19. This declined production rate, which, in turn, hampersthe global revenue for the industry.
Decline in demand
COVID-19 has led to lockdown situations, which prevails across most regions. This, in turn, has prohibited external visits for surfing and similar outdoor recreational activities, which has led to decline in the market growth.
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis
Surfing is observed as the fastest growing water sport from past few years and is significantly driving the global demand for touring SUP. Owing to modifications in design that has led to better applications of the product, touring SUP has become a global hit in the mainstream market. In alignment with constantly changing market dynamics, leading market players are incessantly offering diversification in products as well as channels of distribution to cater to demands of customers and ease supply of products. Rise in disposable income and growth in customer inclination toward board surfing propels growth of the transitional touring SUP market.
The global touring SUP market trends are as follows:
New product launches to flourish the market
Growth in number of surfing activities has brought asurge in demand for touring stand-up paddle boards. Notable differences that makes SUPs a preferable option for customers is its compatibility to surf through water by making way with pointed edges and constant paddles. This brings excitement and a spirit of thrill among surfers that makes it a market highlight.
The leading market players offer different kinds of surfing boards such as solid, hard boards and inflatable SUP boards. Hard boards are made up of fiberglass and wood, which makes it difficult to store them, owing to their rigidity, however, inflatable SUP boards come with foam that provide flexibility of folding and fitting into compact spaces. These distinctive product appeals satisfy diverse customer requirements, and, in turn, boost the growth.
Diversification of distribution channels
Distribution channels play a prominent part in sales and distribution of any product. To make a product available to customers at their convenience, leading market players have been emphasizing on broadening and diversifying their distribution channels.
Touring SUPs are available on offline and online platforms. Offline channels comprise hypermarkets and specialty stores that deal with distribution of sports and related equipment. Online distribution channel cover a reach across masses through digital medium, either by websites or smart phone applications. Hence, broadening of distribution channels assists the global market in growth.
Key Benefits of the Report:
- This study presents the analytical depiction of the global touring SUP industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global touring SUP market share.
- The current market is quantitatively analyzed to highlight the global touring SUP market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global touring SUP market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions Answered in the Touring SUP Market Research Report:
- Who are the leading market players active in the touring SUP market?
- What would be the detailed impact of COVID-19 on the market?
- What current trends would influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the touring SUP market?
- What are the projections for the future that would help in taking further strategic steps?
Touring SUP Market Report Highlights
By Distribution Channel
Key Market Players
un Dolphin, Naish Surfing, F-one SUP, C4 Waterman, Boardworks, Coreban, Clear Blue Hawaii, BIC Sport, Laird StandUp, SlingShot, Tower Paddle Boards, Sea Eagle, Hobie., EXOCETORIGINAL, NRS, Rave Sports Inc., Airhead, RED Paddle, SUP ATX