United States, Rockville MD, July 25, 2022 (GLOBE NEWSWIRE) -- As per a newly released report on global bodyboards market by Fact.MR, is projected to be valued at US$ 255 million in 2022 and expand at a CAGR of 6.8% over the forecast period of 2022-2032.
High market growth is attributed to factors such as renowned organizations such as the International Surfing Association (ISA) promoting aqua sports on a global level, increasing number of adaptive surfing events and tournaments, and promotion of various bodyboard types through prominent sports magazines.
The expanding travel industry around the world is expected to push interest for water sports across regions such as Europe and North America. Rise in mechanical executions such as product enhancement in terms of material makes bodyboards lightweight and improves the overall aerodynamics of the product.
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Market players are concentrating more on product design and material, which allows surfers to enjoy better grip over these boards. Companies are investing in research and development to enhance the aerodynamics of bodyboards, and this can only be achieved through advanced manufacturing techniques (CAD/CAM). Rental services also play a vital role in expanding market foothold in this dynamic space of the water sports industry.
Why are Sales of Bodyboards High in the U.S.?
International travel plays a vital role in the United States' economy. In 2019, international tourists spent around US$ 233.5 billion and contributed approximately US$ 640 million a day to the economy of the United States.
People usually visit coastal areas to explore recreational activities, and bodyboard surfing is one of them. Bodyboards are usually preferred due to their compactness and portability, which occupy less space as compared to surfboards.
U.S. brands need to invest or explore not just divesting non-core assets but also investing in higher returns and value-added opportunities. Technology progress and consumer preference may shape how the bodyboard market grows over the forecasted period. However, manufacturers opting for a new business model to diversify their product portfolios and maintain a competitive edge.
The United States bodyboard market is anticipated to expand rapidly at a CAGR of 7.7% and reach US$ 177.4 million by 2032.
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Key Segments Covered in the Bodyboard Industry Survey
Prime manufacturers are concentrating on sustainable foam technology that increases the density and rigidity of bodyboards as well as makes them more efficient in terms of performance.
Size and material are other prominent elements that manufacturers should look out for; PE (polyethylene) is the most common core that is extensively used while manufacturing bodyboards, especially in the cooler waters of Europe and North America. Even though polyethylene is heavier than polypropylene, it has additional flex, which offers supplementary control.
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Key players in the Bodyboard Market
Key Takeaways from Bodyboard Market Study
About the Sports Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned sports team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million-plus data points, the team has analysed the sports industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services.
Explore Fact.MR's Coverage on the Sports Domain-
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