Global Skateboard Market Overview, 2023-28

Skateboarding is a recreational activity and a sport that involves riding and performing tricks on a skateboard, a specially designed board with four wheels. It has gained immense popularity since its inception in the late 1940s and early 1950s.Skateboarding is one of the most popular extreme sports on the planet, with active participants in almost every country. The surf-and-skate industry is a multibillion-dollar business that involves hundreds of global, continental, and national brands and companies. in the first year of the new millennium, snowboarding and skateboarding were the two fastest-growing sports in the world. Skateboarding has 85 million participants worldwide Skateboarding is really a U.S. sport, but skateboard culture is exploding worldwide. More than half of all U.S. skaters live in California, and more than 75% are under 18. With these numbers, it is the 6th most popular sport globally. Based on 2002 data, there were 12.5 million skateboarders. And that’s roughly 0.2% of the recorded population that year. Moving forward 15 years later, in 2017, skateboarders were 85 million worldwide.

According to the report titled, “Global Skateboard Market Overview, 2023-28”, published by Bonafide research, the market was valued at USD 4312.87 Million in 2022 and it is anticipated to grow with a CAGR of 5.32% from 2023 to 2028. the United States will be the largest country market, accounting for a larger market share of global revenue. The market is anticipated to add USD 156.83 Million by the end of 2028. Japan Skateboard Market is anticipated to add USD 76.85 Million. Canada Skateboard Market t is anticipated to add USD 20.45. Mexico market is anticipated to add USD 33.28 Million. Australia market is anticipated to add USD 20.40 Million. UK skateboard market is anticipated to add USD 46.44 Million. France Skateboard market is anticipated to add USD 27.88 Million. Skateboarding has gained popularity across different generations and has attracted numerous celebrities who enjoy the sport. Jack Black, Lil’ Wayne, Justin Bieber, James Hetfield, Pharell Williams, Jason Lee, Ben Harper, Matthew McConaughey. Compared against the 7.5 billion population that year, the sport’s representation went up to 1.1%.?Per estimates and records, we have approximately 23,000 skate parks worldwide. With the increased popularity of skateboarding and the improvement of the sport since its creation, it’s no argument that it can exceed its growth rate yearly. In 2022, the United States will the largest country market, accounting for a larger market share of global revenue. The increasing popularity of skateboarding, as well as its wide availability in the region, is the key dynamic factor. Furthermore, the United States is the world's largest producer of skateboards.

Skateboarding is often celebrated through various events, initiatives, and communities that promote the sport and its culture. June 21st is recognized as Go Skateboarding Day (GSD). It's an annual celebration of skateboarding where skaters from all over the world come together to enjoy and promote the sport. GSD events typically include skate sessions, contests, demos, and community gatherings. Skateboarding Competitions, Skatepark Openings, Skateboarding Festivals, Skateboarding Day Camps and Clinics, Skateboarding Film Premieres, Skateboarding Community Events. By embracing these celebrations and initiatives, the skateboarding community promotes inclusivity, encourages new participants, and highlights the positive impact skateboarding can have on individuals and communities.

The younger generation's growing interest in sports will increase market demand for products. The growing popularity of skating as a sport in many nations is boosting product demand. Along with being enjoyable, it also helps the body stay flexible and in good physical form. Additionally, the trend towards fitness has led to a surge in outdoor sporting events, which will help drive the market during the projection period. In addition, social media has developed into a key source for kids who are drawn to these sports. A variety of skateboards are finding new markets thanks in large part to the growing popularity of innovative sports among younger generations like Generation Z.?According to the State of Skate, Generation Z is found unfaithful towards any brand or any sport. Therefore, companies strive for greater strategic efforts in order to maintain their interest in the activity.