Global surfing industry is expected to reach $ 4.8 billion in value
Global surfing industry is expected to reach $ 4.8 billion in value

Global surfing industry is expected to reach $ 4.8 billion in value

Photo: Unsplash / JP Valery

Surfing is experiencing a bit of a boom these days. If the endless complaints in the comment sections that crowds suddenly rumbled along with the onset of the COVID-19 pandemic are any indication, there are several who do. No matter the fact that the global population itself is squeezing eight billion as we speak, more people surfing could have nothing to do with the logical, inevitable fact that more people also exist. More than any other time in history, in fact. Look it up.

If we push the whip aside, there are a handful of things that are changing in the world that are bringing growth to surfing as an industry. Your local designer probably has evidence that these order cards started running out somewhere around June 2020 and never really slowed down, which is really more likely a sign that those of us who were already surfing have just started dropping a stimulus check here and a stimulus check there on custom boards … worth about $ 3.3 billion dollars in 2027. Yes, with a b.

According to ReportLinker, a market research tool used to give investors insight, surfboards will represent just over $ 3 billion in the global market within the next few years. And the surf industry as a whole will move towards $ 5 billion by 2027. That’s massive compared to snowboarding equipment $ 300 million global market forecast by the end of this year. It edges out skateboarding $ 2.4 billion by 2025 by a healthy margin.

Of course, these things are all relative. Surfing’s 4% compound annual growth rate during the 2022-2207 reporting period is not that impressive. That is not bad. But it’s not “Oh my God, all surfing now and every lineup on the planet is crammed “good. It’s still a slow and steady growth rate. The NFL’s Denver Broncos have just gone on sale and slammed a $ 5 billion price tag on their awful uniforms, annoying fanbase and an overrated new quarterback. The Cosmopolitan of Las Vegas, a single hotel with two towers on The Strip, has just sold for $ 5.65 billion, Elon Musk offered $ 44 billion to buy Twitter, if Twitter is worth 10 times more than all surfing, I’m guessing it really is relative.

But if we still want to blame it all on COVID, then compare the industry bottom line with a single company like Peloton, for example. The company expects to report slightly less than three-quarters of a billion in income in a single quarter. And this is terrible news for the Peloton and its shareholders, to be clear, after its market value soared during lockdowns and “crashes to the ground” with a market value of almost $ 5 billion now.

So what is it that drives the constant growth of surfing, at least financially, now that travel is back in the picture, people have come back to the office, and whole days to spend in the water are fewer and longer in between?

“The primary factor driving growth is push from surfing equipment manufacturers, marketers and associations to make surfing much more accessible than it has been in recent years, seen through the rollout of public surfing facilities and artificial reefs.” the report says points out that things like “increased focus on wellness and fitness” among other vague explanations of where the money actually comes from and where it is headed.

Personally, I think at least half of the booty comes from the airline’s baggage fees.

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