At 6.8% CAGR, Asia Pacific Boat Sails Market is Projected to be Worth US$ 265.48 Million by 2031, says Business Market Insights

According to Business Market Insights research, the Asia Pacific boat sails market was valued at US$ 156.95 million in 2023 and is expected to reach US$ 265.48 million by 2031, registering a CAGR of 6.8% from 2023 to 2031. Growing marine tourism and growing demand for sustainable sailing materials are among the critical factors attributed to driving the Asia Pacific boat sails market growth.

The growing shift toward marine tourism, such as sailing, power boating, and yachting, has significantly boosted the global boat sails market in recent years. The rapid growth of adventure travel, along with the rise in popularity of cruise expeditions, has further fueled the demand for boat sails. Countries with coastlines, which serve as prime tourist destinations, are seeing significant interest in marine tourism. They are also popular venues for luxury events and corporate meetings, often involving the rental of luxury yachts, furthering the need for advanced boat sails. Many marine tourists prefer active experiences like sailing in either formal sailing holidays or private boat charters. Sailing tourism has started gaining popularity because people engage in more hands-on outdoor activities. Tourists who visit for sailing experiences often require specialized sails, a lot more so in high-end and adventure tourism, which increases the demand for high-performance and custom sails. According to Ocean Panel, in a business-as-usual scenario, coastal and marine tourism is anticipated to represent the largest ocean economy sector by 2030. As marine tourism grows, there is a higher demand for boats, yachts, and sailing vessels. Since most of these boats rely on sails for propulsion, an increase in boat ownership and chartering naturally leads to greater demand for new sails or replacement sails. Thus, the rise in marine tourism drives the demand for boat sails.

On the contrary, high initial and ownership costs of boats hamper the growth of the Asia Pacific boat sails market.

By type, the Asia Pacific boat sails market is bifurcated into mainsail & headsail and downwind & lightwind sails. The mainsail & headsail held 57.1% share of Asia Pacific boat sails market share in 2023, amassing US$ 89.69 million. It is projected to garner US$ 153.23 million by 2031 to register 6.9% CAGR during 2023–2031.

By application, the Asia Pacific boat sails market is bifurcated into cruising and racing. The cruising held 60.1% share of Asia Pacific boat sails market share in 2023, amassing US$ 94.27 million. It is projected to garner US$ 161.30 million by 2031 to register 6.9% CAGR during 2023–2031.

Based on country, the Asia Pacific boat sails market is categorized into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 35.4% share of Asia Pacific boat sails market in 2023. It was assessed at US$ 55.58 million in 2023 and is likely to hit US$ 93.24 million by 2031, registering a CAGR of 6.7% during 2023–2031.

Key players operating in the boat sails market are North Sails GmbH; Doyle Sails International Ltd; Elvstrom Sails AS; Ullman Sails International Inc; Quantum Sails Design Group LLC; Wilfer Sails Technology (Heyuan) Co Ltd; OneSails International; Hyde Sails Ltd; Rolly Tasker Sails (Thailand) Co. Ltd.; and CHEONG LEE SAILMAKERS LTD, among others.

• In 2024: North Sails Apparel entered a partnership as an official clothing supplier to the Royal Ocean Racing Club.

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