United States, Rockville MD, July 21, 2022 (GLOBE NEWSWIRE) -- According to Fact.MR, a market research and competitive intelligence provider, the global pool float market is estimated at US$ 878.9 million in 2022 and is expected to expand at an impressive CAGR of 6.6% during the forecast years of 2022-2032. The market is set to grow rapidly due to remarkable use case and safety provided by pool floats.
Leading manufacturers are adopting the strategy of customization to attract more customers. Top-notch customization as per customer demand, improving consumer comfort, and high functionality are likely to strengthen the segmental revenue of companies. Manufacturers are aiming to make pool floats with sustainable materials to attract environment-conscious customers and diversify their product range. Moreover, monogrammed pool floats are also gaining attraction and providing an emotional quotient to pool floats, which is bringing new opportunities for pool float manufacturers.
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Customization in graphics and shapes is considered a game-changer, as fancy-looking pool floats attract a lot of teenagers. Additionally, the culture of pool parties is growing day by day, which is driving the market for pool floats with advanced beverage floaters and pool games.
Use of pool floats has increased significantly after the initial phases of the COVID pandemic. In 2021, global revenue from the water sports gear market stood at US$ 46.2 billion. Pool floats are a crucial piece of equipment in the water sports industry. As such, growth of the water sports industry is directly proportional to the demand growth for pool floats.
Will Residential Swimming Pools in the U.S. Drive High Demand for Pool Floats?
The United States pool float market is currently estimated at US$ 370.8 million and is expected to reach US$ 740.3 million by 2032.
The United States is a prominent indoor pool activity hub. The country has a large number of residential pools (roughly 97% of North America) and uses the largest number of swimming floats for adults.
The striking development of America's water sports industry presents significant opportunities for market players. Rapid growth of the sporting goods industry is likely to create lucrative opportunities for pool float vendors in the near future.
Moreover, the country is seeing high demand for relaxation pool floats, fun pool floats, tanning pool floats, and party pool floats.
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Key Segments Covered in the Pool Float Industry Survey
- Pool Float Market by Type :
- Pool Lounges
- Pool Tubes
- Pool Mattresses
- Pool Riders
- Other Types
- Pool Lounges
- Pool Float Market by Material :
- Foam Pool Floats
- PVC Pool Floats
- Foam Pool Floats
- Pool Float Market by User Category :
- Pool Float Market by Application :
- Relaxation Pool Floats
- Fun Pool Floats
- Tanning Pool Floats
- Party Pool Floats
- Relaxation Pool Floats
- Pool Float Market by Sales Channel :
- Online Sales
- Company-owned Platforms
- e-Commerce Platforms
- Offline Sales
- Independent Sport Outlets
- Franchised Sport Outlets
- Modern Trade Channel
- Online Sales
Tier-1 manufacturers of pool float products are focusing on acquiring tier-2 and tier-3 manufacturers to enhance their product portfolios and develop a strong distribution network.
- In Dec 2021, Aqua-Leisure Recreation, a pioneer in the development of water sports leisure products acquired the Denver, Colorado-based Airhead Sports Group. With the acquisition of Airhead, a leading brand in the towable water sports and winter recreation products category, Aqua-Leisure has become a leader in the consumer goods industry for aquariums.
- In Feb 2020, beanbag and pool float manufacturer Comfort Research acquired Spin Master's outdoor manufacturing facility in Tarboro, NC, and a specific product line from Spin Master's outdoor portfolio.
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Key players in the Pool Float Market
- Aqua-Leisure Recreation
- Spin Master Ltd.
- Intex Development Co. Ltd
- Swimline Corp.
- Comfort Research LLC
- Joyin Inc.
- Bestway Inflatables & Material Corp.
- Shenzhen Jiaxin Technology Co., Ltd.
- Poolcandy By B & D Group
Key Takeaways from Pool Float Market Study
- The global pool float market is projected to expand at an impressive CAGR of 6.6% and be valued at US$ 1.67 billion by 2032.
- The market witnessed 2.9% CAGR between 2017 and 2021.
- Under type, pool tubes dominate the market and are valued at US$ 261.9 million in 2022.
- North America led the global market with 42% share in 2021.
- Together, North America and Europe account for more than 2/3 of the global market share in 2022.
- Demand for pool floats is expected to increase at CAGRs of 2.9% and 3.5%, respectively, in Europe and South Asia & Oceania.
About the Consumer Goods Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned technology team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million-plus data points, the team has analysed the consumer goods across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services.
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