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Surfing Apparel & Accessories Market Size Worth $1.56 Billion By 2027: Grand View Research, Inc

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Surfing Apparel & Accessories Market Size Worth $1.56 Billion By 2027: Grand View Research, Inc

July 15
23:53 2020
Surfing Apparel & Accessories Market Size Worth $1.56 Billion By 2027: Grand View Research, Inc

Grand View Research, Inc. – Market Research And Consulting.
According to report published by Grand View Research, the global surfing apparel and accessories market size was valued at USD 1.04 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 5.3% from 2020 to 2027.

The global Surfing Apparel And Accessories Market size is expected to reach USD 1.56 billion by 2027, expanding at a CAGR of 5.3% over the forecast period, according to a new report by Grand View Research, Inc. Increasing participation of people in water sports, coupled with growing popularity of surfing as a fitness activity, is a major factor driving the market.

Surfing has been highly perceived as a game of the youth and has emerged as an indicator of active and physically exhilarating sports among young minded people. Enthused by the opportunities existent in this space, a large number of players have been venturing in the surfing industry to develop technological advanced equipment and accessories, which will, in turn, have a positive influence on the surfing apparel market. For instance, in October 2016, Trinity Board Sport announced the launch of a surfboard based on parabolic rail system technology. The board offers 20%-30% more volume than a conventional surfboard, thus offering high degree of balancing and significant performance advantages.

Based on product, surf apparel held the largest share of 77.3% in 2019 and is expected to maintain its lead over the forecast period. Increasing product innovation by leading manufacturers, such as Quiksilver, Channel Islands Surfboards, and Firewire Surfboards, is fueling the segment growth. For instance, in July 2019, Billabong, an Australia-based company announced the launch of a graphene-enhanced surfing apparel named Furnace Graphene. This product is intelligently designed where graphene wrapped yarns trap and retain heat more efficiently, thereby offering warmth to the wearer.

North America emerged as the largest regional market and accounted for a share of 47.3% in 2019. Predominating presence of a well-established water sports/surfing infrastructure in the region is one of the key factors driving the market.

Asia Pacific is expected to be the fastest growing market with a CAGR of 6.0% from 2020 to 2027. International tourist arrivals and tourist expenditure on water sports have set the tone for surfing sports in the region. Many prominent beaches in the region such as Kuta beach in Indonesia, Weligama beach in Sri Lanka, Pansea in Thailand, and Bai Dai beach in Thailand have been gaining traction among the tourists as a popular destination for surfing. These practices have increased the visibility and acceptability of the sport in the region.

Surfing Apparel & Accessories Market

Request a Sample Copy of the Global Surfing Apparel & Accessories Market Research Report @ https://www.grandviewresearch.com/industry-analysis/surfing-apparel-accessories-market/request/rs1

Surfing Apparel & Accessories Market Report Highlights

  • By product, surf accessories are expected to expand at the fastest CAGR of 5.7% from 2020 to 2027. Increasing demand for accessories, such as wetsuit booties and reef socks, among professional surfing enthusiasts has been driving the segment
  • Online distribution channel is projected to expand at the fastest CAGR of 5.9% from 2020 to 2027. The online retailers offer a wide range of surfing apparel and accessories with special pricing and great discounts seasonally offered, which is a key factor enhancing the segment growth
  • Asia Pacific is anticipated to be the fastest growing market with a CAGR of 6.0% from 2020 to 2027 as a result of changing consumer viewpoint towards adventure water sports
  • Major manufacturers are adopting various methods for developing eco-friendly outdoor clothing or apparels. For instance, in November 2019, Finisterre, a U.K.-based company, collaborated with Innovate UK’s Knowledge Transfer Partnership and the University of Exeter to design wetsuit techniques that would save close to 380 tons of discarded wetsuits sent to landfill every year in U.K.

surfing apparel and accessories market

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Surfing Apparel & Accessories Market Segmentation

Grand View Research has segmented the global surfing apparel and accessories market on the basis of product, distribution channel, and region:

Surfing Apparel & Accessories Product Outlook (Revenue, USD Million, 2016 – 2027)

  • Surf Apparel
  • Surf Accessories

Surfing Apparel & Accessories Distribution Channel Outlook (Revenue, USD Million, 2016 – 2027)

  • Offline
  • Online

Surfing Apparel & Accessories Regional Outlook (Revenue, USD Million, 2016 – 2027)

  • North America
    • U.S.
  • Europe
    • U.K.
    • France
    • Spain
  • Asia Pacific
    • Australia
    • New Zealand
  • Central & South America
    • Brazil
  • Middle East & Africa

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About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

Media Contact
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
Email: Send Email
Phone: 1-415-349-0058, Toll Free: 1-888-202-9519
Address:201, Spear Street, 1100
City: San Francisco
State: California
Country: United States
Website: https://www.grandviewresearch.com/industry-analysis/surfing-apparel-accessories-market