The global sailing jackets market size is projected to touch USD 188.1 million by the end of 2025, according to a new report released by Million Insights. It is estimated to grow at a CAGR of 6.7% from 2019 to 2025. The market growth is attributed to growing youth participation in cruising sailing, and boating events. Further, significant growth is witnessed in powerboat sales which is anticipated to supplement the product demand.
The men segment dominated the market with over 60% market share in 2018. Millennials are the leading customers in various recreational water activities in this segment resulting in the growing demand for the jacket. The women segment is anticipated to grow significantly over the forecast period. The market growth is anticipated to be supplemented by growing women’s involvement in sailing events.
North America dominated the global market accounting for over 40% of the market share in 2018. The U.S. accounted for the majority of share in North America as it has high number of participants for sailing activities. Asia Pacific is projected to grow significantly from 2019 to 2025. The growth is predicted to be accelerated by growing water sports in nations such as Australia, South Korea and China.
Key players in the sailing jacket market include Burke Marine, Marinepool, Canadian Tire Corporation, Zhik Australia, Limited (Helly Hansen), Sail Racing International, Magic Marine, Decathlon S.A., Henri-Lloyd International Ltd., Gill Marine, and SLAM. Consumer preference for sustainable products is encouraging manufacturers to produce eco-friendly jackets. PFC free jackets are gaining momentum in the market. Key players are also focusing on M&A to strengthen their market dominance.
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Further key findings from the report suggest:
• North America led the market with over 40% of market share in 2018. The growth is attributed to growing investment on water sports by the millennial population in the U.S.
• Asia Pacific regional market is projected to ascend with a CAGR of 8.9% over the forecast period.
• Men application segment led the market with a 60% market share in 2018
• Online channel is projected to grow at a CAGR of 8.6% over the forecast period.
Million Insights has segmented the global sailing jackets market on the basis of application, distribution channel, and region:
Sailing Jackets Application Outlook (Revenue, USD Million, 2015 - 2025)
Sailing Jackets Distribution Channel Outlook (Revenue, USD Million, 2015 – 2025)
Sailing Jackets Regional Outlook (Revenue, USD Million, 2015 - 2025)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa (MEA)
• South Africa