Global Life Jacket Market Segmentation By Product ( Inherently Buoyant, Inflatable, Hybrid), the United States accounted for roughly 19% share of the worldwide Life Jacket Market.
Industry: Consumer Goods
Published Date: January-2023
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Number of Pages: 300
Report ID: PMRREP33289
The global life jacket market is projected to expand at 5.9% CAGR and reach a valuation of US$ 2.86 billion by the end of 2033, up from its market size of US$ 1.52 billion in 2022.
One of the earliest and most fundamental pieces of water safety gear is the life jacket, often known as a personal flotation device (PFD). Stiff cork vests from the 1800s to synthetic foam cells in the 1900s span several centuries. There is a lot more to a life jacket than most people think, especially with today's rapidly developing technology for inflatable and hybrid variants.
Most people undoubtedly think of the typical orange foam life jacket they used to wear as children or maybe even still have hanging in their garage. In some circumstances, that is still a viable option but there are so many more excellent models available that are well worth looking into.
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Life Jacket Market Size (2022A) |
US$ 1.52 Billion |
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Estimated Market Value (2023E) |
US$ 1.61 Billion |
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Projected Sales of Life Jackets (2033F) |
US$ 2.86 Billion |
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Value CAGR (2023 to 2033) |
5.9% |
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Collective Value Share: Top 3 Countries (2022) |
25% |
Given that drowning is a common cause of boating fatalities, the target product is anticipated to exhibit significant demand growth during the projected period. The future growth trajectory of life jacket sales will be substantially impacted by the expansion of water sports infrastructure in industrialized regions such as North America. In addition, the market for life jackets will be further driven by expanding government measures to boost the tourism industry.
Over the coming years, the market for life vests is anticipated to expand steadily. The tight legal frameworks and rules regulating the required use of personal floatation devices around the world are expected to increase the demand for life vests. Demand for protective gear has increased with the tourism industry developing extensive protocols to ensure the smooth functioning of all types of tourism activities.
As a result, the population's demand for life jackets has increased dramatically, spurring a market expansion at a compound annual growth rate of 5% from 2017 to 2022. The market is forecasted to expand at 5.9% CAGR through 2033.
As more people across the world look forward to experiencing both hard and soft water-based activities and experiences such as kayaking, river rafting, canoeing, water-skiing, scuba diving, etc., there is increasing demand for water adventure tourism. All of these activities involve danger, necessitating appropriate safety equipment such as life jackets, which are also mandated by a majority of regulatory bodies around the world.
One of the main elements driving the expansion of water adventure activities is the rising need for individualized and authentic travel experiences as a result of expanding urbanization, affordable air tickets, higher disposable incomes, and growing social media influence. Additionally, many travel agencies are building user-friendly websites that are simple to use on smartphones, which also helps in the expansion of the global market for life jackets.
The population's increased involvement in aquatic recreational activities has contributed to the steadily rising use of life jackets. However, regular use and mistreatment of life jackets causes the material to deteriorate, which eventually results in a loss of their ability to sustain buoyancy in water. Because of the inability of the life jacket to correctly inflate, the existence of leaks and punctures, material degradation, etc., routine maintenance and inspection of life jackets will prevent any endanger to life.
Lack of regular maintenance and inspections of life jackets might result in several drowning cases caused by the malfunctioning of life jackets, which, in turn, can affect end users' willingness to purchase such items. The target market can be hampered to some extent during the forecast period as a result of this factor.
How is the United States Life Jacket Market Faring?
Using flotation devices is subject to several federal regulations enforced by the U.S. Coast Guard. Every individual on board a recreational boat must have their own wearable personal floating device. Any boat 16 feet or longer must have one throwable personal floating device such as a cushion or a ring, while kayaks and canoes are exempt from this requirement. These tools should be easily available, which means that they shouldn't be tethered to a boat or hidden in inaccessible parts of the trunk.
Many states have legislation governing the usage of life jackets in addition to these federal regulations, especially for youngsters and for activities such as water skiing. However, it is not required by law for anyone to wear a life jacket. In 2022, the United States accounted for roughly 19% share of the worldwide market.
Will Steady Rise in Water Sports Activities Aid Market Expansion in India?
More and more people are loving being in, on, or near water as a result of the remarkable growth in water sports activities and staycations. India has experienced a major surge in water sports. The water sports area in Nehru Park Srinagar is stocked with the latest equipment, including wakeboards, inflatable kayaks, stand-up paddleboards, and all the necessary apparel and accessories.
Goa is one of the top beach destinations in India and has some of the most exciting water activities available, including parasailing, sunset cruises, snorkelling, scuba diving, kayaking, windsurfing, water skiing, and more. There is something for everyone in Goa, from extremely rapid water activities such as jet skiing and windsurfing to slower ones such as scuba diving.
As a result, the market for life jackets is being supported by the increase in water sports and activities while also contributing to the market's expansion. All in all, the life jacket market in India is anticipated to grow at a CAGR of around 6.1% over the next ten years.
Why is Spain a Prominent market for Life Jacket Manufacturers?
Spain, one of the most popular coastal tourism destinations in Europe, is becoming more and more popular for recreational boating. The significant increase in the number of Europeans enjoying different water sports such as kayaking, rafting, etc., is driving the need for life jackets and sustaining the upward trend in life jacket sales. As a result, the life jacket market in the country is expected to evolve at a CAGR of 5.5% through 2033.
There are many water parks in Spain that require the usage of life jackets. Demand is also positively being impacted by the growth of micro firms and small- and medium-sized businesses in the life jacket space. It is anticipated that the demand for life jackets will rise significantly in the nation as a result of competitive strategies employed by key businesses.
Which Type of Life Jacket is Most Popular?
Under product type, the market for life jackets that are inherently buoyant contributed the most in 2022, with a market share of around 38%. Jackets that are inherently buoyant can be used without any special instructions, which makes them popular as they are simple to use.
Additionally, these life jackets are widely used in a variety of settings, including aircraft, construction sites, and for fire safety. They have great demand in the market and are anticipated to increase at a tremendous rate during the projection period because of their affordable pricing factor as well.
Why are Nylon Life Jackets Most Widely Used?
The nylon life jackets segment is estimated to grow at a CAGR of 6.1% throughout the forecast period. The simple technology of nylon life jackets contributes to increased buoyancy and flotation, which has increased end users' demand for nylon life jackets around the world. Additionally, the market for life jackets is anticipated to rise due to nylon life jackets, which are the safest and most cost-effective solution for individuals boarding both commercial and recreational vessels.
Nylon life jackets are the buyer's first option due to qualities such as elasticity and durability. Such characteristics not only increase demand for these variants but also give the consumer comfort.
To expand their market reach, leading companies are investing in portfolio development, R&D, and strategic alliances. Other growth strategies that are being employed by top firms to drive their market presence are partnerships and collaborations, agreements, expansions, acquisitions & mergers, and new product launches.
For Instance:
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Details |
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Forecast Period |
2023 to 2033 |
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Historical Data Available for |
2017 to 2022 |
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Market Analysis |
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Key Regions Covered |
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Key Countries Covered |
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Key Market Segments Covered |
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Key Companies Profiled |
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Customization & Pricing |
Available upon Request |
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The global life jacket is valued at US$ 1.61 billion in 2023.
Between 2017 and 2022, global sales of life jackets increased at 5% CAGR.
Europe leads the global market and accounted for a leading market share in 2022.
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, Survitec Group Limited, Bernhardt Apparatebau GmbH, H3O Water Sports, Marine Safety Supplies Ltd. Newell Brands Inc., and SeaSafe Systems Ltd. Are key manufacturers of life jackets.
The global market for life jackets is forecasted to expand at 5.9% CAGR through 2033.
