Is Surfing Worth $5.3 Billion? Experts Predict Market Explosion.

Surfing is set for a boom, according to the pencil-pushers, calculator-clackers, and market-watchers. That’s due to a massive, multi-billion-dollar explosion in growth of the industry – apparel, gear, gadgetry, etc. – in the coming decade. We’re talkin’ from $4.1B in 2023, to $5.3B by the year 2032.

Per a new study: “The Surfing Apparel and Accessories Market size was valued at USD 4.1 USD Billion in 2023 and is projected to reach USD 5.5 USD Billion by 2032, exhibiting a CAGR of 8.2 % during the forecast period. The surfing apparel and accessories market is a dynamic sector driven by the growing popularity of surfing worldwide. This market includes a variety of products such as wetsuits, board shorts, rash guards, surfboards, and accessories like leashes and fins.”

That’s a massive jump in valuation. Especially since the heyday of surf brands seems to have came and went, or in other words, folks in Nebraska aren’t buying Quik or Bong as they once did.

But according to this study, it’s those legacy brands that will fuel the incoming fire.

“Major players in this report include,” the study notes, “Quiksilver, Hurley, Billabong International, Volcom, Roxy, Rip Curl, RVCA, and Reef Sports are the prominent players functioning the market.”

So, why the massive growth? Well, they point to a few factors. First, there’s the increase of quality: “durability, flexibility, UV protection, and water resistance, enhanced by advanced materials and technology”; then, there’s surfing’s cool factor, which, according to the study, is back on the rise: “The market's impact includes boosting coastal economies, fostering a unique subculture, and promoting an active lifestyle.”

From an insider’s perspective, the surf industry has been going through change, recently, with the “major players” mentioned above stepping aside as surfer-owned businesses have become all the rage. John John Florence (Florence), Dane Reynolds (Former/Chapter 11), Kolohe Andino (2% and the forthcoming Steko) come to mind. But perhaps there’s bigger forces at play – after all, you don’t have to be a market analyst to know that surfing’s profile is on the rise thanks to an explosion of new surfers from the pandemic, the rise of wave pools, and the Paris 2024 Olympics.

Surfing’s back, baby.