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A recent report published by Infinium global research on the surfing apparel and accessories market provides an in-depth analysis of segments and sub-segments in the global as well as regional surfing apparel and accessories market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional surfing apparel and accessories market over the short term as well as the long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of the global surfing apparel and accessories market. According to the report, the global surfing apparel and accessories market is projected to grow at a CAGR of 6% over the forecast period of 2022-2028.
The revenue of the surfing apparel and accessories market in 2022 was approximately USD 1 billion which is expected to reach around USD 2 billion by 2028 growing with a CAGR of approx. 6%. Surfing is an adventure sport that is gaining popularity among millennials who are fascinated by adventure sports. In surfing the surfer generally uses a board to ride on the forward section of a moving wave. The wave usually carries the surfer towards the shore. Its Aspirational and leisure activity for those who love wearing outfits that associate themselves with the freedom of enjoying the beach and wave riding. Its popularity has a huge influence on driving the growth of the surfing apparel and accessories market. The love and passion for surfing are growing adventure-related activities. Some of the different types of appeal and accessories are wet shorts, board shorts, pro water surf boots, and surfboards allowing easy mobility for the surfers. also, flip-flops and polarized sunglasses are important.
Due to the coronavirus pandemic, many industries were closed. During the covid-19 pandemic situation, the whole world was compelled to stay at home as there were lockdowns all over the world. One of the worst affected industries was the travel and tourism industry due to resulting travel restrictions and slump in demand among travelers. Additionally, the covid19 had severely affected the surfing apparel and accessories industry as all the beaches were closed which resulted in the declination in sales of the surfing apparel and accessories market. The world of sports, including surfing, entered extreme and uncharted territory, in which all competitions were postponed and many beaches were closed, preventing any kind of surfing activity.
The major factor driving the growth of the global surfing apparel and accessories market is the rising popularity of water and adventure sports across the globe among millennials. The increasing adoption of adventurous sports by the millennials such as surfing because of its several health benefits is also driving the market. Consumers with a lot of disposable income want to acquire things regardless of the price. The features, functionality, and comfortability, on the other hand, are key concerns. These are some of the factors driving the growth of the market. Businesses are implementing strategic marketing programs in order to grow their consumer base and increase sales. Also, the popularity of surf camps and surf schools provides a taste of the surfing lifestyle. This involves social gatherings, which are directly involved in uplifting the surfing apparel and accessories market. The rising number of skin allergies and rashes due to the ordinary wet suits and shorts used for surfing has posed challenges to the surfing apparel and accessories market.
The segmentation of the surfing apparel and accessories market on the basis of regions is North America, Europe, Asia Pacific, Middle East, and Africa. The global surfing apparel and accessories market is dominated by North America. The popularity of water sports in North America is so huge because of its lengthy beaches, making it perfect for surfing, which in turn attracts more customers. The surfing apparel category held a considerable share of the North American regional market and the trend is likely to continue during the forecast period. However, New Zealand and Australia are among the most popular destinations for surfing across the globe. This is projected to attract a large group of consumers to perform surfing, thereby, driving the market for surfing apparel and accessories.
The report on the global surfing apparel and accessories market covers segments such as product type and distribution channel. On the basis of product type, the sub-markets include surf apparel and surf accessories. On the basis of distribution channels, the sub-markets include offline retail and online retail.
The report provides profiles of the companies in the market such as Billabong, Hurley, Inc., O’Neill, RVCA, Volcom, LLC, GLOBE INTERNATIONAL LIMITED, REEF, Roxy, Inc., and Curl. Ltd., and Quiksilver, Inc.
The report provides deep insights into the demand forecasts,
market trends, and micro and macro indicators. In addition, this report
provides insights into the factors driving and restraining this market's growth. Moreover, The IGR-Growth Matrix analysis given in the report
brings an insight into the investment areas that existing or new market players
can consider. The report provides insights into the market using analytical
tools such as Porter's five forces analysis and DRO analysis of the surfing
apparel and accessories market. Moreover, the study highlights current market
trends and provides forecasts for 2022-2028. We also have highlighted future trends
in the market that will affect the demand during the forecast period. Moreover,
the competitive analysis given in each regional market brings an insight into
the market share of the leading players.
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