Considering the rising importance of player safety in sporting events, particularly in watersports, the demand for protection gear such as life jackets is gaining momentum. Over the years, life jackets have emerged to become a prerequisite in majority of watersport categories such as kayaking or river rafting. A recently-published report by Fact.MR reveals that the global life jackets market will soar at a moderately steady pace, reaching a value of more than US$ 2,500 Mn by the end of forecast period, 2017-2022.

Developed regions such as Europe and North America have witnessed a considerable rise in terms of participation in watersports, over the past few years. Core boating activities such as kayaking or rafting are gaining popularity, and with that, propelling the need for effective and basic protective gear such as life jackets. As majority of watersports professionals fall under the younger demographics, higher tendency of accidental tripping and falling overboard has necessitated the use of life jackets. Although, manufacturers of life jackets are struggling to balance their annual net gains due to seasonal participation in watersports industry. Moreover, activities such as sailboat racing, yacht cruising, canoeing and motor boating are gaining commercialization due to involvement of owners of private water bodies. Overall, increasing popularity of a majority of watersport events is likely to translate impressive revenues in the global market for life jackets.

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End-use Tussle – Watersports vs Paddle Sports

Key findings from the market study reveal that a majority of life jackets in the world are used in watersports. However, against the popular belief, the end-use of life jackets is not limited to watersports. According to the report, global sales of life jackets across watersports end-users will be witnessing a robust growth at 5.5% CAGR through 2022. While the use of life jackets in commercial vessels, day sailing, fishing, and offshore sailing is also gaining traction, the market is expected to witness impressive growth in the end-use of life jackets across paddle sports. Although, this segment is expected to witness less than 10% share in the global life jacket market, paddle sports as an end-use of life jackets will create a global incremental opportunity of over US$ 38 Mn between 2017 and 2022.

Competition Tracking

The report has also profiled leading manufacturers of life jackets in the global market, which include Jarden Corp, Stormy Lifejackets Pty Ltd., Mustang Survival Corp., Johnson Outdoors Inc., Kent Sporting Goods Company, Inc., Hansen Protection AS, Safety and Survival Systems International Ltd., Viking Life-Saving Equipment A/S, and Survitec Group Limited

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