Touring SUP Market Report, Global Industry Analysis, Market Size, Share, Growth Trends, Regional Outlook, Competitive Strategies and Segment Forecasts 2024 - 2030

  • Published Date: Jan, 2024
  • Report ID: CR0192551
  • Format: Electronic (PDF)
  • Number of Pages: 203
  • Author(s): Joshi, Madhavi

Report Overview

The Touring SUP Market size was estimated at USD 850 million in 2023 and is projected to reach USD 2.2 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 14.00% during the forecast period (2024-2030).

Touring SUP Market

(Market Size)
$850 million
$2.2 billion
2023
2030
Source: Citius Research
Study Period 2018 - 2030
Base Year For Estimation 2023
Forecast Data Period 2024 - 2030
CAGR (2024-2030) 14.00%
2023 Market Size USD 850 million
2030 Market Size USD 2.2 billion
Key Players BOTE, Red Paddle Co, Starboard, Naish, SIC Maui

Market Summary

The touring stand-up paddleboard (SUP) market represents a specialized segment within the broader watersports and consumer goods industry, catering to enthusiasts seeking performance-oriented boards for longer excursions and fitness activities. These boards are characterized by their elongated, narrow design and displacement hulls, which are engineered for enhanced glide, tracking, and speed over flat water and mild conditions compared to all-around or inflatable SUPs. The market is driven by a growing consumer base that values outdoor recreation, wellness, and low-impact fitness activities, leading to sustained demand for high-quality, specialized equipment. Key manufacturers are continuously innovating in materials, such as advanced composites and drop-stitch technologies for inflatable models, to reduce weight and improve portability without sacrificing rigidity or performance. Distribution channels are diverse, encompassing specialty watersports retailers, online direct-to-consumer platforms, and large sporting goods stores, providing various access points for consumers. The market is also influenced by trends in eco-tourism and a general societal shift towards experiences and active lifestyles, positioning touring SUPs as a product aligned with modern consumer values.

Key Highlights

A primary highlight of the touring SUP market is the significant technological advancement in inflatable board construction. Modern drop-stitch cores and reinforced PVC layers have enabled inflatable touring SUPs to rival the performance of traditional rigid epoxy boards, offering a compelling combination of performance and convenience for storage and transport. This has dramatically expanded the addressable market beyond owners with ample storage space or roof racks. Another key highlight is the market's fragmentation, featuring a mix of large, established sporting goods brands and numerous smaller, specialized manufacturers focused exclusively on paddle sports. This creates a competitive landscape where brand reputation, product quality, and direct consumer engagement are critical for success. Furthermore, the integration of accessories as a standard offering is a notable trend; high-end touring SUP packages often include premium carbon fiber paddles, high-capacity pumps, travel bags, and leash systems, enhancing the overall value proposition and user experience. The emphasis on sustainability is also growing, with several leading companies exploring the use of recycled materials and more environmentally friendly production processes to appeal to the eco-conscious segment of their customer base.

Drivers, Opportunities & Restraints

The growth of the touring SUP market is propelled by several key drivers. The sustained promotion of health and wellness activities continues to draw participants to low-impact sports like paddleboarding. The versatility of touring SUPs, suitable for fitness, exploration, and even fishing with modifications, broadens their appeal. The expansion of digital marketing and social media influence, where users share experiences and destinations, serves as powerful free advertising, inspiring new entrants to the sport. A significant opportunity lies in technological innovation, particularly in making high-performance boards more accessible and affordable without compromising quality. There is also a substantial opportunity in emerging markets where participation in watersports is growing alongside rising disposable incomes. However, the market faces notable restraints. The industry is susceptible to seasonal demand fluctuations in many regions, which can challenge inventory management and cash flow for manufacturers and retailers. Economic downturns and inflation can impact discretionary spending on recreational equipment. Furthermore, market growth can be constrained by a lack of accessible waterways and concerns over water quality and safety in certain areas, which may deter potential new users from investing in the sport.

Concentration Insights

The touring SUP market exhibits a moderately concentrated competitive landscape in terms of brand recognition and market share, though it is supported by a long tail of smaller niche players. Concentration is most evident among a handful of leading brands that have achieved widespread distribution and strong consumer trust. Prominent companies such as Starboard, Naish, and SIC Maui are often cited as innovators and performance leaders, particularly in the rigid board segment. Simultaneously, brands like Red Paddle Co. and iROCKER have established formidable positions in the high-performance inflatable touring category. These key players compete on brand heritage, technological patents, professional athlete endorsements, and global supply chain efficiency. Despite this concentration, the barrier to entry for new brands, especially those utilizing direct-to-consumer online models, remains relatively low. This has led to a proliferation of brands competing on price, design aesthetics, and bundle packages, ensuring a dynamic and competitive environment that benefits consumers with choice and innovation.

Type Insights

The touring SUP market is fundamentally segmented by construction type: rigid (hard) boards and inflatable (iSUP) boards. Rigid touring SUPs are typically constructed using epoxy resin and fiberglass or carbon fiber over an expanded polystyrene (EPS) foam core, or through thermoformed processes using ABS plastic. These boards are renowned for offering the ultimate in performance, providing superior glide, speed, and responsiveness, making them the preferred choice for serious enthusiasts and racers. Their primary drawback is the requirement for significant storage space and a vehicle roof rack for transport. In contrast, inflatable touring SUPs are constructed from drop-stitch fabric cores encased in layers of durable PVC. Technological advancements have dramatically closed the performance gap with rigid boards. The defining advantage of inflatable models is their portability; they can be deflated, rolled into a backpack-sized bundle, and easily stored in a car trunk or closet. This convenience has made inflatable touring SUPs the dominant growth category, attracting a wider audience who prioritize ease of transport and storage without completely sacrificing on-water performance.

Application Insights

Touring SUPs are primarily applied in two main contexts: recreational touring and fitness or racing. Recreational touring encompasses day trips, wildlife viewing, and exploring calm coastal waters, lakes, and slow-moving rivers. Users in this segment prioritize stability, comfort for longer durations, and sufficient cargo capacity for gear, food, and water, often utilizing bungee cord systems on the deck. Fitness and racing applications represent a more performance-oriented segment. This includes dedicated paddleboard fitness workouts, long-distance endurance paddling, and entry-level to professional racing. Users here seek boards with optimized hull designs for efficient tracking and speed, minimal rocker for straight-line performance, and lightweight construction to reduce fatigue. Boards for this application are typically narrower and less stable to maximize glide. A growing sub-application is touring SUP fishing, where users customize their boards with aftermarket accessories like rod holders, bait wells, and anchor systems, demonstrating the platform's adaptability to various outdoor pursuits.

Regional Insights

Demand for touring SUPs demonstrates distinct regional characteristics influenced by geography, climate, and culture. North America represents a leading market, driven by extensive coastlines, numerous inland lakes, and a strong culture of outdoor recreation. The United States, in particular, has a high concentration of manufacturers, retailers, and participants. Europe is another significant market, with countries like the United Kingdom, France, Germany, and Spain showing strong adoption. The diverse waterways, from the Mediterranean Sea to inland lakes and rivers, support a variety of touring activities. The Asia-Pacific region is identified as a high-growth area, with markets in Australia and New Zealand being well-established due to their coastal lifestyles. Meanwhile, emerging economies in Southeast Asia are experiencing rapid growth as disposable incomes rise and participation in watersports increases. Regional preferences also vary; for instance, inflatable SUPs see higher penetration in regions where apartment living is common and storage space is limited, while regions with dedicated waterfront communities may show a stronger preference for high-performance rigid boards.

Company Insights

The competitive environment in the touring SUP market includes a diverse array of companies ranging from specialized paddle sports brands to larger diversified sporting goods corporations. Leading specialized players often set the benchmark for innovation and performance. Companies such as Starboard, based in Thailand, are frequently recognized for their extensive research and development, sustainability initiatives, and dominance in the racing segment. Naish and SIC Maui, with their roots in windsurfing and deep ocean paddling, bring strong brand heritage and performance credibility to the market. In the inflatable sector, Red Paddle Co. from the UK is a key innovator, often credited with pushing the technological boundaries of what inflatable boards can achieve. iROCKER and Blackfin Model SUP have built significant market share through aggressive direct-to-consumer online marketing and comprehensive package deals. Beyond these specialists, larger entities like Johnson Outdoors, which owns the Old Town brand, and PLACE, which owns BIC Sport, leverage their extensive manufacturing and distribution networks to compete across multiple price points and categories, bringing scale and retail presence to the market.

Recent Developments

The touring SUP market has witnessed several pivotal recent developments focused on product innovation and strategic branding. A major trend is the continued refinement of inflatable technology, with leading brands launching new models featuring updated hull shapes, stiffer construction, and integrated mounting points for accessories like action cameras and fishing rod holders. There is a pronounced industry-wide push towards sustainability, with companies increasingly incorporating recycled materials into board construction, using recyclable packaging, and obtaining third-party environmental certifications to appeal to a conscious consumer base. Another significant development is the expansion of product ecosystems. Brands are not only selling boards but also cultivating loyalty through proprietary apps for fitness tracking, community engagement platforms, and expanded lines of branded apparel and accessories. Furthermore, strategic collaborations between SUP brands and well-known designers or professional athletes are becoming more common, creating limited-edition models that generate media buzz and drive brand prestige. The direct-to-consumer sales model continues to gain traction, allowing brands to control messaging, gather customer data, and improve margins.

Report Segmentation

This comprehensive market research report on the global touring SUP market provides a detailed analysis structured across multiple dimensions to offer actionable intelligence. The report is segmented by type to deliver insights into the distinct dynamics, growth patterns, and consumer preferences surrounding rigid epoxy boards and inflatable SUPs. It is further segmented by application, analyzing the specific demand drivers, product requirements, and usage trends within the recreational touring and fitness/racing sectors. A crucial component of the report is its regional segmentation, which provides a granular view of market size, growth potential, competitive landscapes, and distribution channel effectiveness across key geographies including North America, Europe, Asia-Pacific, and the Rest of the World. This multi-faceted segmentation allows stakeholders to identify not only the overall market trajectory but also to pinpoint high-growth niches, understand regional peculiarities, and tailor business strategies for specific product types and consumer applications, thereby maximizing strategic planning and resource allocation.

FAQs

What is the difference between a touring SUP and a regular SUP? Touring SUPs are designed specifically for efficiency and speed in straight lines on flat water. They are longer, narrower, and often feature a pointed nose (displacement hull) to cut through water, whereas regular all-around SUPs are wider and shorter for better stability and maneuverability, making them more versatile for casual use and waves.

Are inflatable touring SUPs any good? Modern inflatable touring SUPs have advanced significantly and are considered very capable. High-quality models from reputable brands offer excellent rigidity, tracking, and speed, closely rivaling the performance of hard boards. Their main advantage is unparalleled portability and ease of storage.

What length is best for a touring SUP? The ideal length for a touring SUP typically ranges from 12 to 14 feet. Longer boards within this range generally provide better glide and tracking efficiency, making them suitable for longer distances and racing, while slightly shorter models in the 12'6" range offer a blend of performance and slightly improved maneuverability.

Can you use a touring SUP in the ocean? Yes, touring SUPs can be used in the ocean, particularly for flatwater coastal touring on calm days. Their design excels in these conditions. However, they are not intended for surfing waves or handling very rough, choppy water as well as specialized surf SUPs or more stable all-around models.

What accessories are needed for a touring SUP? Essential accessories include a high-quality paddle, a personal flotation device (PFD), a leash for safety, and a pump for inflatable models. For touring specifically, a dry bag for storing supplies, a hydration pack, and navigation tools like a waterproof phone case or GPS are highly recommended for longer excursions.

How do you choose a touring SUP? Choosing a touring SUP involves considering your primary use (recreation vs. racing), skill level, storage and transport needs (inflatable vs. rigid), and budget. Key factors to evaluate include the board's length and width, weight capacity, construction quality, and the reputation of the manufacturer for customer support and warranties.

Citius Research has developed a research report titled “Touring SUP Market Report - Global Industry Analysis, Size, Share, Growth Trends, Regional Outlook, Competitive Strategies and Segment Forecasts 2024 - 2030” delivering key insights regarding business intelligence and providing concrete business strategies to clients in the form of a detailed syndicated report. The report details out the factors such as business environment, industry trend, growth opportunities, competition, pricing, global and regional market analysis, and other market related factors.

Details included in the report for the years 2024 through 2030

• Touring SUP Market Potential
• Segment-wise breakup
• Compounded annual growth rate (CAGR) for the next 6 years
• Key customers and their preferences
• Market share of major players and their competitive strength
• Existing competition in the market
• Price trend analysis
• Key trend analysis
• Market entry strategies
• Market opportunity insights

The report focuses on the drivers, restraints, opportunities, and challenges in the market based on various factors geographically. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report. The Touring SUP Market report is segmented on the basis of various market segments and their analysis, both in terms of value and volume, for each region for the period under consideration.

Touring SUP Market Segmentation

Market Segmentation

Regions Covered

• North America
• Latin America
• Europe
• MENA
• Asia Pacific
• Sub-Saharan Africa and
• Australasia

Touring SUP Market Analysis

The report covers below mentioned analysis, but is not limited to:

• Overview of Touring SUP Market
• Research Methodology
• Executive Summary
• Market Dynamics of Touring SUP Market
  • Driving Factors
  • Restraints
  • Opportunities
• Global Market Status and Forecast by Segment A
• Global Market Status and Forecast by Segment B
• Global Market Status and Forecast by Segment C
• Global Market Status and Forecast by Regions
• Upstream and Downstream Market Analysis of Touring SUP Market
• Cost and Gross Margin Analysis of Touring SUP Market
• Touring SUP Market Report - Global Industry Analysis, Size, Share, Growth Trends, Regional Outlook, Competitive Strategies and Segment Forecasts 2024 - 2030
  • Competition Landscape
  • Market Share of Major Players
• Key Recommendations

The “Touring SUP Market Report - Global Industry Analysis, Size, Share, Growth Trends, Regional Outlook, Competitive Strategies and Segment Forecasts 2024 - 2030” report helps the clients to take business decisions and to understand strategies of major players in the industry. The report delivers the market driven results supported by a mix of primary and secondary research. The report provides the results triangulated through authentic sources and upon conducting thorough primary interviews with the industry experts. The report includes the results on the areas where the client can focus and create point of parity and develop a competitive edge, based on real-time data results.

Touring SUP Market Key Stakeholders

Below are the key stakeholders for the Touring SUP Market:

• Manufacturers
• Distributors/Traders/Wholesalers
• Material/Component Manufacturers
• Industry Associations
• Downstream vendors

Touring SUP Market Report Scope

Report AttributeDetails
Base year2023
Historical data2018 – 2023
Forecast2024 - 2030
CAGR2024 - 2030
Quantitative UnitsValue (USD Million)
Report coverageRevenue Forecast, Competitive Landscape, Growth Factors, Trends and Strategies. Customized report options available on request
Segments coveredProduct type, technology, application, geography
Regions coveredNorth America, Latin America, Europe, MENA, Asia Pacific, Sub-Saharan Africa and Australasia
Countries coveredUS, UK, China, Japan, Germany, India, France, Brazil, Italy, Canada, Russia, South Korea, Australia, Spain, Mexico and others
Customization scopeAvailable on request
PricingVarious purchase options available as per your research needs. Discounts available on request

COVID-19 Impact Analysis

Like most other markets, the outbreak of COVID-19 had an unfavorable impact on the Touring SUP Market worldwide. This report discusses in detail the disruptions experienced by the market, the impact on flow of raw materials, manufacturing operations, production trends, consumer demand and the projected future of this market post pandemic.

The report has helped our clients:

• To describe and forecast the Touring SUP Market size, on the basis of various segmentations and geography, in terms of value and volume
• To measure the changing needs of customers/industries
• To provide detailed information regarding the drivers, restraints, opportunities, and challenges influencing the growth of the market
• To gain competitive intelligence and uncover new opportunities
• To analyse opportunities in the market for stakeholders by identifying high-growth segments in Touring SUP Market
• To strategically profile key players and provide details of the current competitive landscape
• To analyse strategic approaches adopted by players in the market, such as product launches and developments, acquisitions, collaborations, contracts, expansions, and partnerships

Report Customization

Citius Research provides free customization of reports as per your need. This report can be personalized to meet your requirements. Get in touch with our sales team, who will guarantee you to get a report that suits your necessities.

Customize This Report

Frequently Asked Questions

The Global Touring SUP Market size was valued at $XX billion in 2023 and is anticipated to reach $XX billion by 2030 growing at a CAGR of XX%
The global Touring SUP Market is expected to grow at a CAGR of XX% from 2023 to 2030.
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Table of Contents

Chapter 1. Introduction
  1.1. Market Scope
  1.2. Key Segmentations
  1.3. Research Objective
Chapter 2. Research Methodology & Assumptions
Chapter 3. Executive Summary
Chapter 4. Market Background
  4.1. Dynamics
    4.1.1. Drivers
    4.1.2. Restraints
    4.1.3. Opportunity
    4.1.4. Challenges
  4.2. Key Trends in the Impacting the Market
    4.2.1. Demand & Supply
  4.3. Industry SWOT Analysis
  4.4. Porter’s Five Forces Analysis
  4.5. Value and Supply Chain Analysis
  4.6. Macro-Economic Factors
  4.7. COVID-19 Impact Analysis
    4.7.1. Global and Regional Assessment
  4.8. Profit Margin Analysis
  4.9. Trade Analysis
    4.9.1. Importing Countries
    4.9.2. Exporting Countries
  4.10. Market Entry Strategies
  4.11. Market Assessment (US$ Mn and Units)
Chapter 5. Global Touring SUP Market Size (US$ Mn and Units), Forecast and Trend Analysis, By Segment A
  5.1. By Segment A, 2024 - 2030
    5.1.1. Sub-Segment A
    5.1.2. Sub-Segment B
  5.2. Opportunity Analysis
Chapter 6. Global Touring SUP Market Size (US$ Mn and Units), Forecast and Trend Analysis, By Segment B
  6.1. By Segment B, 2024 - 2030
    6.1.1. Sub-Segment A
    6.1.2. Sub-Segment B
  6.2. Opportunity Analysis
Chapter 7. Global Touring SUP Market Size (US$ Mn and Units), Forecast and Trend Analysis, By Segment C
  7.1. By Segment C, 2024 - 2030
    7.1.1. Sub-Segment A
    7.1.2. Sub-Segment B
  7.2. Opportunity Analysis
Chapter 8. Global Touring SUP Market Size (US$ Mn and Units), Forecast and Trend Analysis, By Region
  8.1. By Region, 2024 - 2030
    8.1.1. North America
    8.1.2. Latin America
    8.1.3. Europe
    8.1.4. MENA
    8.1.5. Asia Pacific
    8.1.6. Sub-Saharan Africa
    8.1.7. Australasia
  8.2. Opportunity Analysis
Chapter 9. North America Touring SUP Market Forecast and Trend Analysis
  9.1. Regional Overview
  9.2. Pricing Analysis
  9.3. Key Trends in the Region
    9.3.1. Supply and Demand
  9.4. Demographic Structure
  9.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    9.5.1. Sub-Segment A
    9.5.2. Sub-Segment B
  9.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    9.6.1. Sub-Segment A
    9.6.2. Sub-Segment B
  9.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    9.7.1. Sub-Segment A
    9.7.2. Sub-Segment B
  9.8. By Country, 2024 - 2030, (US$ Mn and Units)
    9.8.1. U.S.
    9.8.2. Canada
    9.8.3. Rest of North America
  9.9. Opportunity Analysis
Chapter 10. Latin America Touring SUP Market Forecast and Trend Analysis
  10.1. Regional Overview
  10.2. Pricing Analysis
  10.3. Key Trends in the Region
    10.3.1. Supply and Demand
  10.4. Demographic Structure
  10.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    10.5.1. Sub-Segment A
    10.5.2. Sub-Segment B
  10.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    10.6.1. Sub-Segment A
    10.6.2. Sub-Segment B
  10.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    10.7.1. Sub-Segment A
    10.7.2. Sub-Segment B
  10.8. By Country, 2024 - 2030, (US$ Mn and Units)
    10.8.1. Brazil
    10.8.2. Argentina
    10.8.3. Rest of Latin America
  10.9. Opportunity Analysis
Chapter 11. Europe Touring SUP Market Forecast and Trend Analysis
  11.1. Regional Overview
  11.2. Pricing Analysis
  11.3. Key Trends in the Region
    11.3.1. Supply and Demand
  11.4. Demographic Structure
  11.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    11.5.1. Sub-Segment A
    11.5.2. Sub-Segment B
  11.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    11.6.1. Sub-Segment A
    11.6.2. Sub-Segment B
  11.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    11.7.1. Sub-Segment A
    11.7.2. Sub-Segment B
  11.8. By Country, 2024 - 2030, (US$ Mn and Units)
    11.8.1. UK
    11.8.2. Germany
    11.8.3. France
    11.8.4. Spain
    11.8.5. Rest of Europe
  11.9. Opportunity Analysis
Chapter 12. MENA Touring SUP Market Forecast and Trend Analysis
  12.1. Regional Overview
  12.2. Pricing Analysis
  12.3. Key Trends in the Region
    12.3.1. Supply and Demand
  12.4. Demographic Structure
  12.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    12.5.1. Sub-Segment A
    12.5.2. Sub-Segment B
  12.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    12.6.1. Sub-Segment A
    12.6.2. Sub-Segment B
  12.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    12.7.1. Sub-Segment A
    12.7.2. Sub-Segment B
  12.8. By Country, 2024 - 2030, (US$ Mn and Units)
    12.8.1. Egypt
    12.8.2. Algeria
    12.8.3. GCC
    12.8.4. Rest of MENA
  12.9. Opportunity Analysis
Chapter 13. Asia Pacific Touring SUP Market Forecast and Trend Analysis
  13.1. Regional Overview
  13.2. Pricing Analysis
  13.3. Key Trends in the Region
    13.3.1. Supply and Demand
  13.4. Demographic Structure
  13.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    13.5.1. Sub-Segment A
    13.5.2. Sub-Segment B
  13.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    13.6.1. Sub-Segment A
    13.6.2. Sub-Segment B
  13.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    13.7.1. Sub-Segment A
    13.7.2. Sub-Segment B
  13.8. By Country, 2024 - 2030, (US$ Mn and Units)
    13.8.1. India
    13.8.2. China
    13.8.3. Japan
    13.8.4. ASEAN
    13.8.5. Rest of Asia Pacific
  13.9. Opportunity Analysis
Chapter 14. Sub-Saharan Africa Touring SUP Market Forecast and Trend Analysis
  14.1. Regional Overview
  14.2. Pricing Analysis
  14.3. Key Trends in the Region
    14.3.1. Supply and Demand
  14.4. Demographic Structure
  14.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    14.5.1. Sub-Segment A
    14.5.2. Sub-Segment B
  14.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    14.6.1. Sub-Segment A
    14.6.2. Sub-Segment B
  14.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    14.7.1. Sub-Segment A
    14.7.2. Sub-Segment B
  14.8. By Country, 2024 - 2030, (US$ Mn and Units)
    14.8.1. Ethiopia
    14.8.2. Nigeria
    14.8.3. Rest of Sub-Saharan Africa
  14.9. Opportunity Analysis
Chapter 15. Australasia Touring SUP Market Forecast and Trend Analysis
  15.1. Regional Overview
  15.2. Pricing Analysis
  15.3. Key Trends in the Region
    15.3.1. Supply and Demand
  15.4. Demographic Structure
  15.5. By Segment A , 2024 - 2030, (US$ Mn and Units)
    15.5.1. Sub-Segment A
    15.5.2. Sub-Segment B
  15.6. By Segment B, 2024 - 2030, (US$ Mn and Units)
    15.6.1. Sub-Segment A
    15.6.2. Sub-Segment B
  15.7. By Segment C, 2024 - 2030, (US$ Mn and Units)
    15.7.1. Sub-Segment A
    15.7.2. Sub-Segment B
  15.8. By Country, 2024 - 2030, (US$ Mn and Units)
    15.8.1. Australia
    15.8.2. New Zealand
    15.8.3. Rest of Australasia
  15.9. Opportunity Analysis
Chapter 16. Competition Analysis
  16.1. Competitive Benchmarking
    16.1.1. Top Player’s Market Share
    16.1.2. Price and Product Comparison
  16.2. Company Profiles
    16.2.1. Company A
      16.2.1.1. Company Overview
      16.2.1.2. Segmental Revenue
      16.2.1.3. Product Portfolio
      16.2.1.4. Key Developments
      16.2.1.5. Strategic Outlook
    16.2.2. Company B
      16.2.2.1. Company Overview
      16.2.2.2. Segmental Revenue
      16.2.2.3. Product Portfolio
      16.2.2.4. Key Developments
      16.2.2.5. Strategic Outlook
    16.2.3. Company C
      16.2.3.1. Company Overview
      16.2.3.2. Segmental Revenue
      16.2.3.3. Product Portfolio
      16.2.3.4. Key Developments
      16.2.3.5. Strategic Outlook
    16.2.4. Company D
      16.2.4.1. Company Overview
      16.2.4.2. Segmental Revenue
      16.2.4.3. Product Portfolio
      16.2.4.4. Key Developments
      16.2.4.5. Strategic Outlook
    16.2.5. Company E
      16.2.5.1. Company Overview
      16.2.5.2. Segmental Revenue
      16.2.5.3. Product Portfolio
      16.2.5.4. Key Developments
      16.2.5.5. Strategic Outlook
    16.2.6. Company F
      16.2.6.1. Company Overview
      16.2.6.2. Segmental Revenue
      16.2.6.3. Product Portfolio
      16.2.6.4. Key Developments
      16.2.6.5. Strategic Outlook
    16.2.7. Company G
      16.2.7.1. Company Overview
      16.2.7.2. Segmental Revenue
      16.2.7.3. Product Portfolio
      16.2.7.4. Key Developments
      16.2.7.5. Strategic Outlook
    16.2.8. Company H
      16.2.8.1. Company Overview
      16.2.8.2. Segmental Revenue
      16.2.8.3. Product Portfolio
      16.2.8.4. Key Developments
      16.2.8.5. Strategic Outlook
    16.2.9. Company I
      16.2.9.1. Company Overview
      16.2.9.2. Segmental Revenue
      16.2.9.3. Product Portfolio
      16.2.9.4. Key Developments
      16.2.9.5. Strategic Outlook
    16.2.10. Company J
      16.2.10.1. Company Overview
      16.2.10.2. Segmental Revenue
      16.2.10.3. Product Portfolio
      16.2.10.4. Key Developments
      16.2.10.5. Strategic Outlook
Chapter 17. Go-To-Market Strategy

Research Methodology

We follow a robust research methodology to analyze the market in order to provide our clients with qualitative and quantitative analysis which has a very low or negligible deviance. Extensive secondary research supported by primary data collection methods help us to thoroughly understand and gauge the market. We incorporate both top-down and bottom-up approach for estimating the market. The below mentioned methods are then adopted to triangulate and validate the market.

Secondary data collection and interpretation

Secondary research includes sources such as published books, articles in journals, news media and published businesses, government and international body publications, and associations. Sources also include paid databases such as Hoovers, Thomson Reuters, Passport and others. Data derived through secondary sources is further validated through primary sources. The secondary sources also include major manufacturers mapped on the basis of revenues, product portfolios, and sales channels.

Primary data collection

Primary data collection methods include conducting interviews with industry experts and various stakeholders across the supply chain, such as raw material suppliers, manufacturers, product distributors and customers. The interviews are either telephonic or face-to-face, or even a combination of both. Prevailing trends in the industry are gathered by conducting surveys. Primary interviews also help us to understand the market drivers, restraints and opportunities, along with the challenges in the market. This method helps us in validating the data gathered through secondary sources, further triangulating the data and developing it through our statistical tools. We generally conduct interviews with -

  • CEOs, Directors, and VPs
  • Sales and Marketing Managers
  • Plant Heads and Manufacturing Department Heads
  • Product Specialists

Supply Side and Demand Side Data Collection

Supply side analysis is based on the data collected from the manufacturers and the product providers in terms of their segmental revenues. Secondary sources for this type of analysis include company annual reports and publications, associations and organisations, government publications and others.

Demand side analysis is based upon the consumer insights who are the end users of the particular product in question. They could be an individual user or an organisation. Such data is gathered through consumer surveys and focused group interviews.

Market Engineering

As a primary step, in order to develop the market numbers we follow a vigorous methodology that includes studying the parent market of the niche product and understanding the industry trends, acceptance among customers of the product, challenges, future growth, and others, followed by further breaking down the market under consideration into various segments and sub-markets. Additionally, in order to cross-validate the market, we also determine the top players in the market, along with their segmental revenues for the said market. Our secondary sources help us to validate the market share of the top players. Using both the qualitative and quantitative analysis of all the possible factors helps us determine the market numbers which are inclined towards accuracy.

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