Global Surfing Market to Reach US$3.9 Billion by the Year 2027
Amid the COVID-19 crisis, the global market for Surfing estimated at US$3.1 Billion in the year 2020, is projected to reach a revised size of US$3.9 Billion by 2027, growing at a CAGR of 3.1% over the period 2020-2027.Surfing Boards, one of the segments analyzed in the report, is projected to grow at a 3% CAGR to reach US$2.6 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Apparel & Accessories segment is readjusted to a revised 3.3% CAGR for the next 7-year period. This segment currently accounts for a 33.4% share of the global Surfing market.
The U.S. Accounts for Over 29.4% of Global Market Size in 2020, While China is Forecast to Grow at a 3% CAGR for the Period of 2020-2027
The Surfing market in the U.S. is estimated at US$916.5 Million in the year 2020. The country currently accounts for a 29.39% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$689.7 Million in the year 2027 trailing a CAGR of 3% through 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.8% and 2.6% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.2% CAGR while Rest of European market (as defined in the study) will reach US$689.7 Million by the year 2027.We bring years of research experience to this 16th edition of our report. The 226-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.
-Competitors identified in this market include, among others,
- adidas AG
- AJW Surfboard
- Billabong International Limited
- Boardriders Inc.
- Body Glove
- Channel Islands Surfboards
- Globe International Ltd.
- Gul Watersports Ltd
- Harbour Surfboards
- Naish International
- Nike Inc.
- O`Neill, Inc.
- Rip Curl International Pty Ltd.
- Volcom LLC