Surfing Board Market, By Board Type (Shortboards, Longboards, and Funboards), By Material (Polyurethane, Fiberglass, and EPS/Epoxy), By End-User (Recreational Surfers, Professional Surfers, and Beginner Surfers), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

Published In : Aug 2024

Code : CMI7266

Pages :135

Formats :

Excel and PDF

Industry : Consumer Goods

Market Concentration and Competitive Landscape

Surfing Board Market Concentration By Players

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Growing millennial population

A concerning trend for many consumer industries have been the changing spending behaviors of the huge millennial demographic cohort. Often characterized as frugal, experience-focused digital natives with delayed life milestones, millennials posed challenges to traditional business models. However, the surf industry seems uniquely poised to capture the passions of this generation born 1981-1996 which currently makes up over a quarter of the U.S. population.

Comprising of avid travelers with strong environmental leaning, millennials have displayed a flair for outdoor and eco-friendly brands that cultivate feel-good associations. Surfing naturally fits this values-driven lifestyle followed by many in this generation. Furthermore, growing up on a diet of internet and social media, surf brands today skillfully leverage digital touchpoints and influencer marketing to sharply target millennials. Their messaging focuses on surfing's counterculture heritage, connection with nature and photo-worthy experiences over lavish displays of material acquisition that may not resonate as much.

As they approach their prime spending years, millennials also exhibit high levels of participation in niche sporting activities like surfing. This likely stems from their upbringing during the fitness boom period when individual pursuits became widely accessible through mainstream competitions, reality shows and affordable introductory programmes. Early exposure to water sports may have also seeded a passion for wave-riding as young adults. Currently pursuing educations or starting careers, many millennials are allocating expendable incomes to pursue their active hobbies through equipment purchases, memberships and travel to surf destinations.

Crucially, unlike previous transient surfers, millennials display stronger loyalty to surf lifestyle brands that meet their demands for environmental and social consciousness.

Key Players Insights