Is Surfing Worth $5.5 Billions – Growing 25% in 8 Years?
Can SUP – Wing – and Foil benefit from this growth?
The global surfing apparel and accessories market was valued at approximately USD 4.1 billion in 2023 and is anticipated to reach USD 5.5 billion by 2032, demonstrating a robust compound annual growth rate (CAGR) of 8.2% during the forecast period. This significant growth is attributed to the rising popularity of surfing as both a recreational activity and a competitive sport, coupled with increasing urbanization, which has boosted demand for surfing-related products worldwide.
The market includes a wide range of products such as wetsuits, board shorts, rash guards, surfboards, and accessories like leashes, fins, and surfboard bags. Leading industry players contributing to the market’s expansion include renowned brands like Quiksilver, Hurley, Billabong International, Volcom, Roxy, Ripcurl, RVCA, and Reef Sports. These companies are leveraging their market presence and innovation to capture a larger share of the growing customer base.
A noteworthy trend shaping the market is the emphasis on eco-friendly and sustainable practices. Many manufacturers are investing in research and development to produce products using environmentally sustainable materials such as recycled fabrics and biodegradable components. This aligns with the increasing consumer preference for products that have minimal environmental impact.
Despite the positive outlook, the market faces challenges, including competition from substitute products and alternative water sports gear. Additionally, fluctuating raw material prices and production costs could potentially impact profit margins for manufacturers. However, the growing appeal of surfing as a lifestyle and adventure sport continues to propel market expansion, particularly in emerging markets where the sport is gaining traction.
Source: openPR
Can SUP and Foil benefit from this?
At Stand Up Magazin, we wonder if this positive trend will extend to surf-related disciplines like Stand Up Paddling (SUP) and foilsports. These sports share the cultural “coolness” of surfing but provide a more accessible entry point for participants, especially those living far from the ocean.
SUP, in particular, has long thrived on its appeal as a surf-inspired activity that’s easy to learn and accessible to a wide audience. From its early days, its primary allure was the sensation of gliding over water—a taste of the surfing lifestyle—available even on inland lakes and rivers. As such, it became a sport for enthusiasts who could not directly access ocean waves but wanted to experience the spirit of surfing.
If surfing’s surge in popularity drives broader interest in water sports, it’s reasonable to predict increased sales of SUP and foil-related products in the coming years. SUP, Wingfoiling, and Pumpfoiling have already gained traction as viable alternatives for landlocked athletes, enabling them to participate in the water sports lifestyle with less geographical limitation.
⬅️ Carsten Kurmis SUP Surf Munich
This trend could be bolstered by the innovative push in sustainable materials and eco-friendly practices observed in the surfing market. As manufacturers of surfing products invest in greener technologies, it stands to reason that SUP and foil manufacturers will follow suit, enhancing their appeal to environmentally conscious consumers.
In the next 8 years, this “halo effect” of surfing’s rising profile could significantly impact the sales and visibility of SUP and foilsports. Both sports cater to individuals drawn to surfing’s image and lifestyle but seeking activities that align better with their geographic realities. By riding this wave of enthusiasm, SUP and foilsports could continue to solidify their positions as integral parts of the broader surf-inspired sports category, tapping into new markets and fostering growth worldwide.