The global canoeing and kayaking equipment market is expected to grow by $105.37 million during the 2021-2025 period, according to new market research by Technavio. This would represent a compound annual growth rate (CAGR) of nearly 2 percent during the forecast period, with North America likely to generate 41 percent of the growth. In 2021, the market is expected to grow by 1.23 percent. By distribution channel, sporting goods retailers constituted the largest segment in 2020, and the market position of this segment is expected to remain unchanged by 2025. The market is being boosted by multiple factors, such as the growing interest in soft adventure sports activities and novel water sporting categories in general, combined with rising awareness of the fitness benefits of canoeing and kayaking. Furthermore, the number of paddle sports contests is increasing, and this is identified as one more factor propelling the market growth. However, the report also suggests that the high prices charged for canoes and kayaks might eventually lead to a preference for rentals.

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