Global Surfing Market to Reach $3.1 Billion by 2026
The primary factor driving growth is the push by surfing equipment makers, marketers and associations to make surfing much more approachable than it was in past years, as seen through the roll out of public surfing facilities and artificial reefs. Increased accessibility and affordability has drawn significant number of surfing participants and attracted wider demographic clusters in the recent years.
The sport of surfing has also emerged a fashion and lifestyle trend. The growing focus on wellness and fitness is also leading to increased interest in surfing, as spas and wellness centers promote the sport as a fitness ritual. Surf tourism has contributed significantly to the demand for surfing equipment and apparel over the years. Surfing vacations hold tremendous potential and are likely to be a vital component of the global travel industry in the post COVID-19 period. The inclusion of surfing as a sporting event in the Olympics also has the potential to spur interest in the activity.
Amid the COVID-19 crisis, the global market for Surfing estimated at US$2.7 Billion in the year 2020, is projected to reach a size of US$3.1 Billion by 2026, displaying at a CAGR of 2.6% over the analysis period. Surfing Boards, one of the segments analyzed in the report, is projected to record a 2.5% CAGR to reach a market size of approximately US$2.1 Billion by the end of the analysis period.
After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Surfing Apparel & Accessories segment is projected to spiral at 3% CAGR for the next 7-year period. Increased inclination of