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Philippines Water Sports Gear Market Overview, 2028


The Philippines, with its gorgeous archipelago of over 7,000 islands, has emerged as a lively hub for water sports lovers, supporting the expansion of the water sports gear industry. With crystal-c... もっと見る

 

 

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Bonafide Research & Marketing Pvt. Ltd.
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2023年8月31日 US$1,950
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Summary

The Philippines, with its gorgeous archipelago of over 7,000 islands, has emerged as a lively hub for water sports lovers, supporting the expansion of the water sports gear industry. With crystal-clear waters, rich marine life, and a tropical climate, the country is an ideal playground for a wide range of water-based activities. From snorkeling in azure waters to surfing exhilarating waves, and from scuba diving to kayaking along picturesque coastlines, the Philippines has established itself as a sought-after destination for both local and international water sports enthusiasts. This spike in interest and engagement has resulted in a thriving market for water sports gear, which includes a wide selection of equipment for beginners, amateurs, and pros alike. Surfboards built to withstand Pacific swells, high-quality diving masks for exploring bright coral reefs, kayaks made for navigating quiet lagoons, and cutting-edge snorkeling sets are just a few examples of the gear in demand. Local entrepreneurs and international companies have recognized the country's potential as a significant market and contributed to its expansion by introducing innovative products and technologies. As more Filipinos and visitors seek spectacular aquatic experiences, the Philippines water sports gear market evolves, propelled by the twin engines of rising interest in water-based recreation and innovations in gear design and manufacture. The market is shifting toward the use of modern materials in water sports equipment, such as lightweight yet durable materials in kayaks, enhanced neoprene for wetsuits, and corrosion-resistant components in diving equipment. These advancements improve water sports aficionados' performance, comfort, and safety.

According to the research report "Philippines Water Sports Gear Market Overview, 2028," published by Bonafide Research, the Philippines Water Sports Gear market is expected to reach market size of USD 432.90 Million by 2028. The Philippines is increasingly holding international water sports events and competitions, such as surfing contests, sailing regattas, and diving championships. These events not only advertise the country as a water sports destination but also increase participant demand for high-quality equipment. In addition, the country's status as a water sports paradise has drawn travellers looking for adventure and leisure. This flood of tourists has increased demand for rental gear and equipment, opening up prospects for both local and foreign rental companies. Water sports such as surfing, diving, snorkeling, and kayaking are popular leisure activities in the Philippines due to its lush coastline and abundance of water bodies. The growing popularity of these activities fuels the demand for associated gear and equipment. Furthermore, world-class surfing venues such as Siargao and Baler are well known throughout the Philippines. The country has evolved into a destination for both domestic and international surfers. As a result, demand for surfing equipment, such as surfboards, wetsuits, and accessories, has increased. Sports tourism, particularly water sports events and competitions, has been extensively promoted by the Philippine government and commercial organizations. These events not only improve tourism but also increase demand for water sports equipment. Local artists and small enterprises are increasingly creating personalized water sports gear. Handmade surfboards, accessories, and unique designs that appeal to specific interests and contribute to the "buy local" movement are examples of this.

Based on product type, market is divided into water sports clothes (surfing apparel, swimwear, diving suit, water polo swimsuits and caps), boards (stand-up paddle board, windsurf boards, surfing, bodyboard), sailboat, swim mask & goggles (snorkel, snorkeling masks & diving mask), personal watercraft, life jackets , BCD (buoyancy control device), cylinder & diving propulsion vehicle, swim fins (snorkeling fins & diving fins), decompression chamber, and others (kayak accessories, surfing accessories, diving accessories, balls, goal posts, water shoes, watches, safety helmets). Among them water sports clothes product type dominates the market of Philippines water sports gear market. The Philippines is a tropical country with a year-round warm environment, making it excellent for water sports like swimming, surfing, and diving. As a result, there is a significant demand in the Philippines for water sports clothing. Modern water sports clothing is made with modern materials and technology that provide UV protection, moisture wicking, quick drying, and increased flexibility.

Based on age group market is divided into, adults, kids, and geriatric. Adults age group are the key buyers of water sports gear product in Philippines. Water sports demand a certain level of skill and maturity to be enjoyed safely and successfully. Adults are more likely to participate in hobbies such as surfing, diving, and sailing, which may necessitate a certain level of physical and mental maturity. The Philippines is a renowned tourist destination recognized for its water-related activities. Adults frequently have greater freedom to travel and discover new places, which leads to an increasing interest in water sports and related equipment. Adults may be inspired by their social groups, acquaintances, or colleagues who are also interested in water activities. This peer pressure may drive individuals to purchase equipment to participate in these activities together. Based on distribution channel market is majorly segmented into franchise store, specialty store, online store, supermarket/hypermarket, and others (resort shops, boating and marine supply stores, direct sales, tour operators, etc.). Online store channel is expected to register highest CAGR of the market during the anticipated time frame. E-commerce is becoming more popular in the Philippines. Increased internet penetration, improved digital infrastructure, and changing consumer behavior can all be credited to this expansion. Online, customers can simply compare the costs, features, and reviews of various water sports gear products. This transparency enables buyers to make well-informed choices. The rising use of smartphones allows users to shop for water sports equipment at any time and from any location. Mobile commerce has helped to increase internet sales.

Considered in this report:
• Geography: Philippines
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report:
• Philippines Water Sports Gear market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Product Type:
• Water sports Clothes (Surfing Apparel, Swimwear, Diving Suit, Water Polo Swimsuits and Caps)
• Boards (Stand-up Paddle Board, Windsurf Boards, Surfing, Bodyboard)
• Sailboat
• Swim Mask & Goggles (Snorkel, Snorkeling Masks & Diving Mask)
• Personal Watercraft
• Life Jackets
• BCD (Buoyancy Control Device)
• Cylinder & Diving Propulsion Vehicle
• Swim Fins (Snorkeling Fins & Diving Fins)
• Decompression Chamber
• Others (Kayak Accessories, Surfing Accessories, Diving Accessories, Balls, Goal Posts, Water Shoes, Watches, Safety Helmets)

By Age Group:
• Adults
• Kids
• Geriatric

By Distribution Channel:
• Franchise Store
• Specialty Store
• Online Store
• Supermarket/Hypermarket
• Others (Resort Shops, Boating and Marine Supply Stores, Direct Sales, Tour Operators, etc.)

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources.

Intended audience:
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Water Sports Gear industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.






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Table of Contents

Table of Contents
1. Executive Summary
2. Market Structure
2.1. Market Considerate
2.2. Assumptions
2.3. Limitations
2.4. Abbreviations
2.5. Sources
2.6. Definitions
2.7. Geography
3. Research Methodology
3.1. Secondary Research
3.2. Primary Data Collection
3.3. Market Formation & Validation
3.4. Report Writing, Quality Check & Delivery
4. Philipinnes Macro Economic Indicators
5. Market Dynamics
5.1. Key Findings
5.2. Key Developments - 2021
5.3. Market Drivers & Opportunities
5.4. Market Restraints & Challenges
5.5. Market Trends
5.6. Covid-19 Effect
5.7. Supply chain Analysis
5.8. Policy & Regulatory Framework
5.9. Industry Experts Views
6. Philipinnes Water Sports Gear Market Overview
6.1. Market Size By Value
6.2. Market Size and Forecast By Product Type
6.3. Market Size and Forecast By Age Group
6.4. Market Size and Forecast By Distribution Channel
7. Philipinnes Water Sports Gear Market Segmentations
7.1. Philipinnes Water Sports Gear Market, By Product Type
7.1.1. Philipinnes Water Sports Gear Market Size, By Water Sports Clothes, 2017-2028
7.1.2. Philipinnes Water Sports Gear Market Size, By Boards, 2017-2028
7.1.3. Philipinnes Water Sports Gear Market Size, By Sailboat, 2017-2028
7.1.4. Philipinnes Water Sports Gear Market Size, By Swim Mask & Goggles, 2017-2028
7.1.5. Philipinnes Water Sports Gear Market Size, By Personal Watercraft, 2017-2028
7.1.6. Philipinnes Water Sports Gear Market Size, By Life Jackets, 2017-2028
7.1.7. Philipinnes Water Sports Gear Market Size, By BCD (Buoyancy Control Device), 2017-2028
7.1.8. Philipinnes Water Sports Gear Market Size, By Cylinder & Diving Propulsion Vehicle, 2017-2028
7.1.9. Philipinnes Water Sports Gear Market Size, By Swim Fins, 2017-2028
7.1.10. Philipinnes Water Sports Gear Market Size, By Decompression Chamber, 2017-2028
7.1.11. Philipinnes Water Sports Gear Market Size, By Others, 2017-2028
7.2. Philipinnes Water Sports Gear Market, By Age Group
7.2.1. Philipinnes Water Sports Gear Market Size, By Adults, 2017-2028
7.2.2. Philipinnes Water Sports Gear Market Size, By Kids, 2017-2028
7.2.3. Philipinnes Water Sports Gear Market Size, By Geriatric, 2017-2028
7.3. Philipinnes Water Sports Gear Market, By Distribution Channel
7.3.1. Philipinnes Water Sports Gear Market Size, By Franchise Store, 2017-2028
7.3.2. Philipinnes Water Sports Gear Market Size, By Specialty Store, 2017-2028
7.3.3. Philipinnes Water Sports Gear Market Size, By Online Store, 2017-2028
7.3.4. Philipinnes Water Sports Gear Market Size, By Supermarket/Hypermarket, 2017-2028
7.3.5. Philipinnes Water Sports Gear Market Size, By Others, 2017-2028
8. Philipinnes Water Sports Gear Market Opportunity Assessment
8.1. By Product Type, 2023 to 2028
8.2. By Age Group, 2023 to 2028
8.3. By Distribution Channel, 2023 to 2028
9. Competitive Landscape
9.1. Porter's Five Forces
9.2. Company Profile
9.2.1. Company 1
9.2.1.1. Company Snapshot
9.2.1.2. Company Overview
9.2.1.3. Financial Highlights
9.2.1.4. Geographic Insights
9.2.1.5. Business Segment & Performance
9.2.1.6. Product Portfolio
9.2.1.7. Key Executives
9.2.1.8. Strategic Moves & Developments
9.2.2. Company 2
9.2.3. Company 3
9.2.4. Company 4
9.2.5. Company 5
9.2.6. Company 6
9.2.7. Company 7
9.2.8. Company 8
10. Strategic Recommendations
11. Disclaimer

List of Figures
Figure 1: Philipinnes Water Sports Gear Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 2: Market Attractiveness Index, By Product Type
Figure 3: Market Attractiveness Index, By Age Group
Figure 4: Market Attractiveness Index, By Distribution Channel
Figure 5: Porter's Five Forces of Philipinnes Water Sports Gear Market

List of Table

Table 1 : Influencing Factors for Philipinnes Water Sports Gear Market, 2022
Table 2: Philipinnes Water Sports Gear Market Size and Forecast By Product Type (2017, 2022 & 2028F)
Table 3: Philipinnes Water Sports Gear Market Size and Forecast By Age Group (2017, 2022 & 2028F)
Table 4: Philipinnes Water Sports Gear Market Size and Forecast By Distribution Channel (2017, 2022 & 2028F)
Table 5: Philipinnes Water Sports Gear Market Size of Water Sports Clothes (2017 to 2028) in USD Billion
Table 6: Philipinnes Water Sports Gear Market Size of Boards (2017 to 2028) in USD Billion
Table 7: Philipinnes Water Sports Gear Market Size of Sailboat (2017 to 2028) in USD Billion
Table 8: Philipinnes Water Sports Gear Market Size of Swim Mask & Goggles (2017 to 2028) in USD Billion
Table 9: Philipinnes Water Sports Gear Market Size of Personal Watercraft (2017 to 2028) in USD Billion
Table 10: Philipinnes Water Sports Gear Market Size of Life Jackets (2017 to 2028) in USD Billion
Table 11: Philipinnes Water Sports Gear Market Size of BCD (Buoyancy Control Device) (2017 to 2028) in USD Billion
Table 12: Philipinnes Water Sports Gear Market Size of Cylinder & Diving Propulsion Vehicle (2017 to 2028) in USD Billion
Table 13: Philipinnes Water Sports Gear Market Size of Swim Fins (2017 to 2028) in USD Billion
Table 14: Philipinnes Water Sports Gear Market Size of Decompression Chamber (2017 to 2028) in USD Billion
Table 15: Philipinnes Water Sports Gear Market Size of Others (2017 to 2028) in USD Billion
Table 16: Philipinnes Water Sports Gear Market Size of Adults (2017 to 2028) in USD Billion
Table 17: Philipinnes Water Sports Gear Market Size of Kids (2017 to 2028) in USD Billion
Table 18: Philipinnes Water Sports Gear Market Size of Geriatric (2017 to 2028) in USD Billion
Table 19: Philipinnes Water Sports Gear Market Size of Franchise Store (2017 to 2028) in USD Billion
Table 20: Philipinnes Water Sports Gear Market Size of Specialty Store (2017 to 2028) in USD Billion
Table 21: Philipinnes Water Sports Gear Market Size of Online Store (2017 to 2028) in USD Billion
Table 22: Philipinnes Water Sports Gear Market Size of Supermarket/Hypermarket (2017 to 2028) in USD Billion
Table 23: Philipinnes Water Sports Gear Market Size of Others (2017 to 2028) in USD Billion

 

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