Growing Interest in Adventure Sports Continues to Drive Boardsports Market Gains, According to New Report by Global Industry Analysts, Inc.

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GIA announces the release of a comprehensive global report on Boardsports market. The world market for boardsports is poised to reach US$19.6 Billion by the year 2017. Growth in the market is primarily driven by undying interest of hard-core participants, popularity of elite athletes, snowboarding’s inclusion in Winter Olympics, and pervasive exposure to ESPN’s X-Games. In the future, increasing number of participants, rising percentage of women enthusiasts and popularity of the sports in developing countries worldwide will further push the boundary for robust growth.

Boardsports: A Global Strategic Business Report

Follow us on LinkedIn –Boardsports are still a fairly new segment of the sporting goods industry and flaunts a broad customer base encompassing young adults as well as mature, grown-up individuals. Although boardsports can be played worldwide, few countries have built reputation as prime boardsports destinations. Popular among them are United States, Canada, France, United Kingdom, Norway, Switzerland, Australia, and New Zealand. The multi-billion dollar boardsport industry dramatically differs across the globe with shifting regional dynamics throwing up a rich mixture of challenges and opportunities to market participants. Boardsport is still considered a nascent industry with lucrative potential for future growth, given the levels of economic growth and tourism development. Asia including Korea, China and India, Central and Western European nations, and South Africa hold the key to future growth. World over, the popularity of boardsports has soared, supported by strong economy, rising consumer wealth, and wide TV coverage. The push is from equipment makers, marketers and associations to make boardsports much more approachable and appealing than it was in years past. Increased accessibility and affordability has drawn significant number of boardsports participants and has attracted wider demographic clusters beyond just the upper echelon. Participation of women and individuals in the middle-income group has risen significantly over the years and represents a key opportunity for growth in the future. Popularity of professional surfers and charismatic amateurs are also in part responsible for the incremental growth in the boardsports market.

Participation in boardsports continues to increase each year in the US, swiftly outpacing traditional sports. With their incredible acceptance of extreme sports, Generation Y has carved a niche for themselves in the world of extreme sports. As extreme sports entrench its way into the youth culture, the impact of these sports on Gen Y’s fashion, and entertainment preferences is more prominent than ever. Increasing purchasing power of the younger generations led to sales growth in skateboards, surfboard, snowboards and related apparel categories. Given the broad demographic profile of the participants, boardsport apparel ranks in equal importance to boardsports equipment. Widely perceived as a sport of the high society, boardsport has emerged as an indicator of the active lifestyles led by the upper crest of the population. Enthused by the opportunities existent in this space, leading sportswear makers are emphasizing on the concept of sport-specific apparel that appear both dynamic and fashionable to its consumers. Changing perceptions among consumers have created importance for fabrics made from lightweight, technical fabrics such as polyester or nylon, which keep the wearer dry. Technology is a key factor driving growth in the sportswear industry. Unrestricted movement, moisture management and body temperature regulation are the basic features governing sales in the sportswear segment.

Of late, women have emerged as a vital segment of the boardsport population contributing to the market’s overall growth. While women less frequently indulge in boardsports than average male boarders, they however spend almost the same amount of money on boardsports apparel, equipment, and accessories, and if encouraged to take up the sport have the potential to spend more. The importance of women boarders can be put into perspective by the fact that driven by their sheer buying power, women have emerged as key decision makers in the purchase of sports apparel. Manufacturers are therefore attempting to unlock the potential offered by this key consumer group by offering products promoted and designed to suit a women taste.

The United States represents the single largest market worldwide , as stated by the new market research report on Boardsports. Once considered a leisure activity of risk-seeking adults, extreme sports such as in-line skating, snowboarding, surfing, skateboarding, motocross, rock climbing, kayaking, and paintball are attracting even the thrill-seeking younger generation. Participation in boardsports continues to increase each year in the US, swiftly outpacing traditional sports. In a seasonal business such as boardsports, the market for summer boardsports is highly popular and captures the largest chunk of the global market. Summer boardsports apparel and accessories such as sunglasses, t-shirts and boardshorts are generally in high demand and display strong performance during the first half of the year.

Major players in the global marketplace include Aloha Boardsports Inc, Billabong International Limited, Body Glove International LLC, Globe International Ltd, Gul Surf Co, Meta-Sports CO Ltd, Nike Skateboarding, Hurley International, O'Neill, Quiksilver Inc, Rip Curl Inc, Salomon Snowboarding, SKF Bearings, Volcom Inc, The Burton Corporation, among others.

The research report titled “Boardsports: A Global Strategic Business Report” announced by Global Industry Analysts, Inc., provides a comprehensive review of market trends, issues, drivers, company profiles, mergers, acquisitions and other strategic industry activities. The report provides sales estimates and projections (in US$ Millions) for the years 2009 through 2017 for geographic markets including, US, Canada, Japan, Europe, Asia-Pacific and Rest of World. Key product segments analyzed include Summer Boardsports and Snowboarding. The study also provides historic data for an insight into market evolution over the period 2003 through 2008.

For more details about this comprehensive market research report, please visit –
http://www.strategyr.com/Boardsports_Market_Report.asp

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.

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Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
Email: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/

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