The "Global Stand-up Paddleboard Market 2019-2023" report has been added to ResearchAndMarkets.com's offering.
The stand-up paddleboard market will register a CAGR of almost 7% by 2023.
Adventure tourism is a niche growing segment of the tourism industry that focuses on traveling and exploring remote areas or places difficult to access and includes a lot of physical activity. Adventure tourism includes backpacking; climbing; rafting; paddle boarding; mountain biking, and snowboarding.
The use of SUPs is growing in adventure tourism activities; and this is expected to drive market growth during the forecast period. SUPs can be used as a means to cruise in rivers, lakes, and oceans and are finding increasing use in adventure tourism activities. The with the number of guides and agencies offering stand-up paddle boarding adventure packages increasing. the demand for SUPs is also expected to grow during the forecast period.
Adoption of stand-up paddle boarding sports in emerging countries
The stand-up paddle boarding is gaining popularity in emerging countries such as China, India, and Thailand, including other countries across Asia and South America. The adoption of new and novel global trends among younger generations in emerging countries is also growing, and this is enhancing the demand for SUPs and related equipment. Such developments are expected to boost the growth of the global SUP market during the forecast period.
Competition from low-cost vendors
A major factor expected to challenge the overall SUP manufacturing industry is the influx of low-quality SUPs in to the market. The SUP manufacturing industry is saturated with several low-quality manufacturing businesses that primarily compete on product pricing. The easy availability of sub-standard SUP boards in the market has forced major SUP manufacturers to cut down on product pricing to remain competitive, and such a move has eroded their profit margins.
Competitive Landscape
The market appears to be highly fragmented with the presence of several vendors. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market's competitive landscape and offering information on the products offered by companies.
Key Players
Topics Covered
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
PART 03: MARKET LANDSCAPE
PART 04: MARKET SIZING
PART 05: FIVE FORCES ANALYSIS
PART 06: MARKET SEGMENTATION BY PRODUCT
PART 07: CUSTOMER LANDSCAPE
PART 08: MARKET SEGMENTATION BY DISTRIBUTION CHANNEL
PART 09: GEOGRAPHIC LANDSCAPE
PART 10: DRIVERS AND CHALLENGES
PART 11: VENDOR LANDSCAPE
PART 12: VENDOR ANALYSIS
For more information about this report visit https://www.researchandmarkets.com/research/cpvjkv/global_standup?w=4
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