The global Sailing Jackets Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.
Market Overview:
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.
Key Players:
- Canadian Tire Corporation, Limited (Helly Hansen)
- Henri-Lloyd International Ltd.
- Gill Marine
- Marinepool
- Sail Racing International
- Decathlon S.A.
- SLAM
- Burke Marine
- Magic Marine
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Growth Drivers:
According to the release of the Outdoor Industry Association, recreationists are concerned about the sustainability of sailing jackets purchased by them. The manufacturers are focusing on the producing sustainable and eco-friendly jackets in conjunction with various environment and animal welfare standards. Such jackets are popular in the U.S as they have longer shelf-life. European and North American manufacturers are following the Responsible Down Standard (RDS) certification aiming at protecting the use of animal feathers and other parts use for jackets production. Further, key players are using innovative technologies to manufacture sustainable and environment-friendly jackets. This factor, in turn, is expected to positively affect the market growth.
Application Outlook:
- Men
- Women
- Kids
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.
Distribution Channel Outlook:
- Offline
- Online
Offline channel dominated the sailing jacket market with a revenue share of 79% in 2018. Consumers prefer to shop from specialty and sports retail outlets as they can avail good offers from these shops. Also, these stores offer easy accessibility and availability of wide varieties of products.
The online channel is projected to grow at a CAGR of 8.6% over the estimated period. penetration of the internet and increasing smartphone users are some of the supporting factors for the growth of the online channel. The convenience of shopping with easy payment options is project to drive the acceptance of online distribution channel. Further, working class population are the leading consumers owing to easy accessibility of products amid hectic work schedules. Leading players are using their own online channels to serve the customers better by personalizing their purchase experience.
Regional Outlook:
North America dominated the market with a share accounting to 40% in the year 2018. Recreational yachting is gaining significant popularity in the U.S. owing to increasing participation in various marine sports. The favorable government regulations in the region boosted the growth of yachting and surged the demand for yachting apparel and equipment. Also, the operation of many water sports associations has proliferated the sales of sailing jackets in the regional market.
Asia Pacific is projected to ascend at a CAGR of more than 8% over the estimated period. The region witnessed growing participation in various sailing events and the introduction of various sailing training programs. Nations such as China, South Korea and Thailand are the growing regional markets for this product. Further, the growing number of sailing events is projected to accelerate the growth of the regional market.
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