Adventure Sports and Water Sports Market - Forecast(2024 - 2030)

The fast-paced and hectic lifestyle of people around the world has compelled individuals to seek out new ways to de-stress and relax. The rising need to de-stress and break away from regular, mundane activities has resulted in an increasing number of people participating in outdoor sports and recreational activities. This will, in turn, bolster the growth of the adventure sports and water sports market in the coming years. The Global Adventure Sports and Water Sports Market has been tracked by IndustryARC since 2016 till date 2019 based on various parameters includes revenue generation by various channels including Ticketing, Corporate Events, Ride Ticketing, Food and Beverage, Merchandise/Retail, Resort, Parking Facilities, Guided Tours, Coaching/Training and Others.

With the growing interest and participation in water sporting activities, several novel water sporting categories are being introduced in recent times. Among these novel water sports, jet-powered hoverboards, flyboarding and inflatable catapults are garnering interest. Other such activities include aquatic hover boards and Water Jetpacks. Adventure sports such as micro flight flying, flying foxes and heli skiing are also witnessing increased demand particularly in Europe and U.S. Blob jumping and sub-wing are the two other novel categories of adventure sport, which are gaining popularity. The advent of such novel adventure and water sporting categories is likely to create new avenues of growth and rise of new competitors offering these novel activities. 

Artificial water bodies for kayaking and rafting are gaining popularity among water sports enthusiasts. The U.S. National Whitewater Center situated in Charlotte, North Carolina, US, has the largest artificial river in the world, which is suitable for rafters and kayakers. The Kielder Water and Forest Park in Northeast England is one of the largest man-made lakes in the region, which has become extremely popular among tourists for canoeing and water-skiing. Another well-known example is that of surf parks integrated with artificial wave technology. Such artificial, man-made attractions provide consumers with a convenient and easier option which averts the hassle of travelling long distances or waiting for the right season to indulge in a sport. 

The increasing number of innovative water sports equipment launches is an emerging trend that is expected to significantly contribute to the market's growth during the forecast period. Competitors are focusing on the introduction of innovative product offerings with respect to design, color, shape, and weight, to meet the needs of individual consumers. With the transition from beginners to seasoned recreational adventure and water sports enthusiasts, the demand for water sports equipment that is required for underwater observation increases. Many water sports equipment manufacturers are, therefore, launching new lightweight and more advanced equipment to cater to the changing consumer preferences. Moreover, consumers prefer to purchase equipment with new and improved features that is well suited to their specific needs. Such initiatives and changes are likely to enhance the growth of the global water sports gear and equipment market during the forecast period. This is leading to highly technological advanced adventure and water sports activities being offered by companies. However this has also led to rise in price as the cost of this equipment can be significant. Despite this price rise, the market for adventure and water sports will continue to grow during the forecast period driven by increased demand in Middle East and Asia.