A report published by The Outdoor Foundation, 2015, provided the statistics on paddlesports. The report detailed out the number of participants for Paddling (paddlesports) in total and various paddle sports such as Stand up boarding, Kayaking, Canoeing, and Rafting for the year 2010 to 2014. Participation rate for each of the paddlesports is also available. In the absence of any other publicly accessible recent sources, we have used the above-mentioned report in our research. No data was available to express or triangulate the TAM for paddlesports (in total or any of the paddle boarding approaches) in terms of money ($US). However, we have provided TAM in terms of the number participants for paddlesports in total and some of the paddlesports separately; TAM for paddlesports and stand up boarding was triangulated for 2018. Key points of our research are mentioned below:
Below we have provided a deep dive into our methodology and findings.
METHODOLOGY
While searching through market research reports, research reports related to the paddlesports, relevant media articles, and others, we found no pre-compiled statistics to fully answer this question regarding the TAM for paddle boarding in the US. No publicly available source such as Standup Paddle Boarding Guide, A report from The Outdoor Foundation, American Canoe, BusinessWire, Outdoor Industry Association, and others revealed the TAM for paddle boarding in the US in terms of $US. However, these sources provided the number of participants for paddlesports, Standup Paddle Boarding, Kayaking, Canoeing, and Rafting for ther 2010 to 2014. So, we decided to use these numbers to define TAM in terms of the number of participants for each of the above listed paddlesports. We also triangulated figures for the number of participants for Standup Paddle Boarding (one of the paddle boarding approaches) for 2018. We also noted that these sources used the terms paddlesports and some times paddle boarding. Most of the sources detailed out the information regarding Standup Paddle Boarding and not paddle boarding as a whole. It may be due to the the reason that Standup Paddle Boarding is the fastest growing sport.
HELPFUL FINDINGS
As published by the BusinessWire, 2016, global market for Stand up paddle board was $4.956 billion in 2015 and it is expected to reach $9.990 billion by 2020.
And, in 2010, the number of participants in Stand up paddle boarding in the Americas was about one million. This number has reached approximately three million in 2014; growing with a CAGR of 31.61%.