According to a report,“Sailing Jackets Market Size, Share & Trends Analysis Report By Application (Men, Women, Kids), By Distribution Channel (Offline, Online), By Region, And Segment Forecasts, 2019 – 2025”, published by Grand View Research, Inc., The global sailing jackets market size is expected to reach USD 188.1 million by 2025, It is anticipated to register a CAGR of 6.7% over the forecast period. The rise in marine sports events coupled with increased participation in sailing, cruising, and boating activities is projected to drive the product demand. Furthermore, rapid growth of the powerboat industry is expected to accelerate market growth.
The men application segment held the leading market share of around 60% in 2018. Increased participation of millennial men in watersports is expected to fuel the demand for sailing jackets in this segment. On the other hand, the women application segment is projected to witness the fastest CAGR in the upcoming years. Increasing number of women participation in sailing sport is expected to fuel the demand for sailing jackets.
North America led the global sailing jackets market with a revenue share of more than 40% in 2018. U.S. dominates the market due to the presence of a large number of sailors. Asia Pacific, on the other hand, is anticipated to register the fastest CAGR over the forecast period. Rise in water sport activities in China, Australia, and South Korea is expected to boost the regional market growth.
Key competitors of this industry include Canadian Tire Corporation, Limited (Helly Hansen), Henri-Lloyd International Ltd., Gill Marine, Marinepool, Sail Racing International, Decathlon S.A., SLAM, Burke Marine, Magic Marine, and Zhik Australia. Manufacturers of sailing jackets emphasize on environment-friendly products due to the rising consumer awareness. Over the past few years, Perfluorocarbons (PFC) free products have been gaining significant popularity among consumers. Leading companies have been strengthening their market position by engaging in strategic M&A activities. In May 2018, Canadian Tire Corporation, Limited acquired Helly Hansen to strengthen its position in the sportswear industry.
Key Takeaways from the report:
North America held the largest market share of more than 40% in 2018. Increased spending on recreational activities by millennials in the U.S. is expected to drive the growth
Asia Pacific sailing jackets market is projected to expand at the fastest CAGR of 8.9% from 2019 to 2025
Men segment held the largest market share of around 60% in 2018
Online distribution channel is expected expand at the fastest CAGR of 8.6% from 2019 to 2025
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In 2018, North America held the leading market share of more than 40%. Recreational yachting is one of the most popular leisure activities in U.S. Rising participation in marine sports activities has strengthened the industry in this region. Furthermore, the lenient regulations have fueled the adoption of yachting as a sport. As a result, the demand for yachting equipment and clothing including jackets has witnessed significant growth. In addition, the presence of a large number of water sports associations has prompted the consumption of sailing jackets in this region.
Europe held a significantly high share of the market in 2018. Croatia, Italy, Greece, Turkey, France, Spain are the most popular yachting destinations in Europe.
Asia Pacific is expected to expand at the fastest CAGR of more than 8% from 2019 to 2025. China, Australia, Vietnam, Thailand, and South Korea are the prominent regional markets for sailing jackets. Growing number of marine sports activities and availability of affordable training programs are expected to accelerate the regional market growth.
Sailing Jackets Market Share Insights
Key sailing jackets manufacturers operating in the market include Canadian Tire Corporation, Limited (Helly Hansen), Gill Marine, Henri-Lloyd International Ltd., Marinepool, Sail Racing International, SLAM, Decathlon S.A., Burke Marine, Zhik Australia, and Magic Marine. Over the past few years, major players have been engaging in mergers and acquisitions to expand their businesses. For instance, in October 2017, Helly Hansen acquired Musto, a U.K. based outdoor clothing manufacturer. Musto is the official supplier of the British Equestrian Federation and the British National Sailing Team. This acquisition has strengthened Helly Hansen’s position in the global market.
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