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Boardsports market to achieve revenue of $19.6 billion by 2017

Industry Sector

Leisure

Published

21 June 2012

Author

Matt Bodimeade

Type of News

Market

The global boardsports market is set to achieve revenue of US $19.6 billion by the year 2017. This market growth is being predominantly driven through an undying interest of hard-core participants, popularity of elite athletes, snowboarding's inclusion in Winter Olympics, and exposure through television coverage.

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.

Participation in boardsports continues to increase each year in the US, swiftly outpacing traditional sports. As extreme sports entrench its way into the youth culture, the impact of these sports on 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, boardsports apparel ranks in equal importance to boardsports equipment.

The US represents the single largest global boardsports market. 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. In a seasonal business such as boardsports, the market for summer boardsports is highly popular and captures the largest chunk of the global market.

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. Boardsports are still considered a promising 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 within the market.

For more information on the boardsports market, see the latest research: Boardsports Market Report

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