01-Feb-2023 | Facts and Factors
According to Facts and Factors, the global surfboard market size was worth around USD 2.65 billion in 2021 and is predicted to grow to around USD 3.8 billion by 2030 with a compound annual growth rate (CAGR) of roughly 7.8% between 2022 and 2030.
The surfboard is used for surfing and is a lightweight, narrow plank that can hold the weight of one of a maximum of 2 individuals on top of it. More than 400,000 surfboards are manufactured every year for professional players and amateur beginners. Surfing is essentially a water sport involving a person standing on a surfboard trying to ride a wave. The chosen type of surfboard is dependent on various factors. Some of them include the expected wave conditions in the ocean, the fitness and surfing style of the person along with years of experience, and the surfer's body dimension.
Browse the full “Surfboard Market Size, Share, Growth Analysis Report By Distribution Channel (Hypermarkets & Supermarkets, Specialty Stores, Online Retail, and Others), By Product (Longboards, Shortboards, and Others), By End-User (Professional and Recreational), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2030" report at https://www.fnfresearch.com/surfboard-market
Earlier surfboards were made from wood which led to an increase in weight but modern-day boards are manufactured from foam reinforced with construction materials like polystyrene and polyurethane. There are different types of boards including short boards but they can be difficult to catch waves due to their short size. The next main category is the longboard which is around 9 feet and 2 inches tall. They are easier to learn and showcase the capability of achieving balance quickly thus allowing stability.
The global surfboard market is projected to grow owing to the increasing investment in the development of new types of surfboards to meet the growing demand from the end-users. The most recent surfboards are extremely lightweight and can be easily managed on difficult waves. They are made from Kevlar composites and carbon fiber, making them the most advanced version of a surfboard. The growing number of surfers may also aid the generation of higher revenue. There were around 3.25 million surfers in 2000 and in 20 years, it has doubled.
As the awareness and training programs for surfing reach new heights, the demand for surfboards is projected to grow alongside. The planks are also being heavily researched to be used for military purposes as they may act beneficial for upgrading national security at the water borders. The recent development of jet-based surfboards by the Chinese government as well as electric surfboards is a prime example of the latest changes in one of the most basic-looking yet effective equipment in modern artillery.
One of the major limitations faced in the global market includes the high cost of surfboards. As they are specially made for water sports only, the equipment is prone to be treated as a rare item. Each surfboard has to be created with utmost precision and many product suppliers also provide the option to customize the surfboards which further adds to the total cost of the object. The epoxy boards can cost anything starting from USD 500 to USD 1000 whereas the soft top boards are known to cost between USD 200 and USD 500
Increasing tourism may provide growth opportunities while the presence of low-quality surfboards is expected to challenge the market expansion
The global surfboard market is segmented based on distribution channel, product, end-user, and region
Based on distribution channel, the global market segments are hypermarkets & supermarkets, specialty stores, online retail, and others. In 2021, the global market witnessed the highest growth in the specialty stores segment. Since surfboards are extremely personal objects as a single board is assigned to an individual surfer, generally, people tend to customize the boards as per their personalities and end-goal which is why specialty stores are the most preferred choice. A custom-made board can cost above USD 600. The most expensive one is the Pete Peterson 1949 California Point Break Board which was sold for USD 32,400 in 2013.
Based on product, the global market divisions are longboards, shortboards, and others. Longboards registered the highest CAGR during the forecast period due to the higher preference for these boards amongst professionals and beginners. They provide extra buoyancy as well as volume and length. Longboards are easy to manage in case of strong waves as they make paddling less strenuous than shortboards that are generally 5 to 6 feet long.
North America is anticipated to lead the global surfboard market growth owing to the presence of some of the main key players in the US along with a high number of surfers which translated to increasing demand for surfboards. The growing innovation alongside research & development of new types of surfboards is further projected to help regional market growth. Asia-Pacific may register a high CAGR due to the growing tourism in Australia where surfing is a major sport. There are more than 2.5 million active surfers in Australia.
As per records, around 2.39% of the adult population in the country are surfers. The increasing interest of people in other countries where access to large water bodies is relatively easy like India may also help the region witness a high growth rate.
Market Size in 2021
USD 2.65 Billion
Projected Market Size in 2030
USD 3.8 Billion
CAGR Growth Rate
Key Market Players
Matt Adams Surfboards, Firewire Surfboards LLC, Hurricane Surf SARL, Mami Wata, Graham Smith Surfboards, Roland Surfboards, and others.
By Distribution Channel, Product, End-User, and Region
Major Regions Covered
North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa
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The global surfboard market has held dominance from Matt Adams Surfboards, Firewire Surfboards LLC, Hurricane Surf SARL, Mami Wata, Graham Smith Surfboards, and Roland Surfboards amongst others.
- In October 2022, The Indonesian Wave Surfing Association (PB PSOI) held a National championship to search for new talents in the surfing sport. The competition was held at Pererenan Beach, Bali.
- In May 2022, Mr. Ramesh Budian was announced as India’s latest national champion post defeating Mr. Ajeesh Ali in a sensational and nail-biting tournament
The global surfboard market is segmented as follows:
By Distribution Channel
- Hypermarkets & Supermarkets
- Specialty Stores
- Online Retail
- North America
- The UK
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
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