Global Water Sports Accessories Market

The global water sports accessories market is estimated to reach USD 72.2 billion by 2030, with a CAGR of 4.7% during the forecast period of 2022-2030, and it was valued at USD 47.2 billion in 2022. These water sports accessories are used to play water sports activities and protect while completing any watersport activities. These gears include wetsuits, drysuits, safety helmets, swim watches, wrist dive computers, swim masks & goggles, and others. These accessories are used in water sports such as rafting, swimming, water surfers, snorkeling, free diving, scuba diving, and other water sports.

What are Water Sports Accessories?

Water sports accessories are tools and clothing worn during water sports activities. The water sports equipment protects such activities. These accessories are utilized in water sports such as rafting, swimming, snorkeling, freediving, diving, etc. The water sports industry is concentrated on equipment combined with automated technology. Therefore, water sports gear manufacturers are launching innovative equipment incorporating new features to stay competitive. Hence, these elements contribute to the development of the Water Sports Equipment market in terms of sales value.

Growth Drivers

Increase in the Recreational Sports

The rise in the number of recreational sports, such as water sports, across the globe is the prominent factor driving the growth of the water sports accessories market. Customers’ interest in outdoor and water sports relaxation activities and the rise in the adoption of outdoor sports such as mountaineering, surfing, snowboarding, and trekking among consumers accelerate the market growth. The presence of many outdoor sports lovers and water sporting places and growth in awareness concerning the importance of healthy habits further influence the market. Additionally, disposable income, urbanization, changing lifestyles, and emerging innovations positively affect the surface water sports equipment market—furthermore, technological advancements to improve the product structure expand promising opportunities to the market players.

Opportunities

Raising Health Conscious among Population and Affordable Price Worldwide to Boost Market

The escalating advancement of the health-conscious population surging the number of water sports activities in various countries worldwide has helped intensify the need for the product. For example, according to the International Health, water & Sports Club Association data 2018, the United States had 1150 water sports that witnessed more than 6 billion visits. In addition, the rising popularity of fitness apps in technological devices has led people to take up fitness and water sports activities to enhance the opportunities in the water sports accessories market. Affordable creations by smaller companies will be a major motivation for the water sports accessories market. These will allow the market to penetrate deeper into the water sports industry. Such actions by smaller and new companies will increase the market for water sports accessories.

Restraints

The Increasing Number of Counterfeit Products and the High Cost of Equipment May Hamper the Water Sports Accessories Market Growth.

The increasing growth of imitation products in sports footwear, clothing, glasses, and other countries worldwide is restraining the market growth. The high cost of some equipment and accessories and the possibility of injuries during adventurous water activities are expected to harm market growth during the forecast period. For example, the Organization for Economic Co-operation and Development data in March 2019 states that trade in imitation goods, including water sportswear, stands at 3.3 percent of world trade.

Pre Covid-19 Impact on Global Water Sports Accessories

Before the COVID-19 outbreak, Water sports accessories such as safety helmets, life jackets, buoyancy control devices (BCD), dive computers, and others saved participants from getting damaged, driving the market growth. Moreover, expanding the number of water sports enthusiasts further fuels the market’s growth. Furthermore, various endeavors are taken by the governments of various countries to promote watersports, water sports accessories, and water tourism in their respective countries, also driving the market’s growth before the pandemic.

COVID-19 Impact on Global Water Sports Accessories

During the COVID-19 period, the outbreak of the Coronavirus has negatively affected the industry across the globe as lockdowns and regulations made on the number of customer store occupancy have resulted in the closure of sales channels and recreational centers, a ban on travel and others. The market will likely take some time to reflect its normal stage—reduction of sales. The delay in the shipment of goods due to certain preventive measures also decreases sales in the water sports accessories market.

Post Covid-19 Impact on Global Water Sports Accessories

After the Covid-19 period, people were more concerned about health. An active lifestyle coupled with growing examples of people choosing outdoor activities such as adventure, water sports, and outings to unwind or break the monotony of their daily lives boosts their growth in the water sports accessories market. Furthermore, initiatives by various governments to promote sports, health, and fitness have led to an increased consciousness about water sports and sports-related products, which in turn drives the market’s growth. However, an increase in the bias of kids in indoor leisure activities and the rise in the COVID-19 situation, terrorism, and political influence on sports events are expected to restrain the water sports accessories market growth.

By Product Segmental Analysis

Based on product segmental analysis, the market is segmented into Foot Straps, Leashes, Harnesses, Traction Pads, and others. Water sports accessories fulfill different functions and protect the body during underwater activities. Drysuits have the highest share in the water sports accessories market. The drysuit keeps the body warm, excludes water, and offers protection against UV exposure, stings from aquatic organisms, and abrasion. This has caused demand for this segment in the water sports gear market.

By Distribution channel segmental analysis

The market is segmented online and offline based on distribution channel segmental analysis. The offline segment is classified into sporting goods retailers, hypermarkets, and supermarkets. The online market is predicted to dominate the distribution channel during the forecasted period as the online platforms offer discounts, return policies, delivery options, and various payment options such as online banking, cash on delivery, etc. These factors are expected to make the online distribution channel more attractive during the forecast period.

By Buyer Segmental Analysis

The market is segmented into surfboards and individuals based on buyer segmental analysis. Surfboard dominates the water sports accessories market. A surfboard is a little plank used in surfing. Surfboards are fairly light but strong enough to support someone standing on them while riding an ocean wave.

By Regional Segmental Analysis

Based on the regional segmental analysis, the market is segmented into North America, Europe, Asia-Pacific, South America, and The Middle East & Africa. North America is expected to maintain a substantial share during the forecasted period due to the increased availability of a wide range of water sporting equipment and increasing e-commerce businesses. The Asia Pacific is expected to be the fastest-growing region during the forecast period. It is due to rapid growth in the young population and the rising popularity of water sports such as water polo, surfing, swimming, snorkeling, and scuba diving and the health benefits of these sports, all of which are expected to contribute to the market growth over the period.

Competitors Analysis

The companies include Speedo International Limited, Arena S.p.A, Apollo Sports USA Inc., Mikasa, Billabong International Limited, KAP & International, Inc., Baden Sports, Inc., Nike Inc., Adidas, AG, Cressi and other prominent players in the global water sports accessories market. Key Stakeholders

• Market research and consulting firms
• Water Sports Accessories Associates
• Local Governments
• Regulatory bodies
• Water Sports Accessories Market
• Suppliers
• Service Providers

Recent Developments

• In December 2015– Arena sponsored many swimming events to gain visibility and reach a larger audience. Some championships and occasions organized by the company are the LEN European Short Course Swimming Championships had in Israel.
• In 2021– Mikasa Finances top water polo players, including Tony Azevedo – a four-time Olympian. Moreover, it sponsors top water polo tournaments, leagues, and associations like Ligue Européenne de Natation, Federation International de Natation, California Interscholastic Federation Southern Section, and Olympic Games.
• In 2015-Adidas focused on developing innovative products to meet the needs of professionals and everyday athletes and consumers. The company paid USD 154 million for its R&D actions. It was also successful in commercializing its creations, which helped its operations.

Scope of the Report

Report Attribute	Details
Market Size Value in 2021	USD 47.2 Billion
The revenue forecast in 2028	USD 62.2 Billion
Growth Rate	CAGR of 4.2 % from 2022 to 2028.
Historical data	2017 – 2020
Forecast period	2022 – 2028
Region covered	North America, Europe, Asia-Pacific, South America, and Middle East & Africa
Key companies Profiled	The Companies include Speedo International Limited, Arena S.p.A, Apollo Sports USA Inc., Mikasa, Billabong International Limited, KAP & International, Inc., Baden Sports, Inc., Nike Inc., Adidas, AG and Cressi are the key players.

Market Modelling

By Product

• Foot straps
• Leashes
• Harnesses
• Traction Pads
• Others

By Distribution Channel

• Online
• Offline

By Buyer Type

• Surfboards
• Individuals

By Region

• North America
• Europe
• Asia-Pacific
• South America
• The Middle East & Africa

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