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Life Jacket Market Report and Forecast 2024-2032

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    Report

  • 155 Pages
  • May 2024
  • Region: Global
  • Expert Market Research
  • ID: 5973912
According to the report, the global life jacket market size reached a value of USD 1.87 billion in 2023. Aided by the increasing focus on safety measures in water-based activities and stringent regulations mandating the use of life jackets, the market is projected to further grow at a CAGR of 5.3% between 2024 and 2032 to reach a value of USD 2.99 billion by 2032.

Life jackets, also known as personal flotation devices (PFDs), are critical safety items designed to provide buoyancy in water, thereby preventing drowning. They are essential for recreational activities such as boating, water sports, and fishing, and are mandatory on commercial vessels. Life jackets are categorised into different types based on their buoyancy, intended use, and the water conditions they are designed for.

As per the life jacket market analysis, there is a growing trend in participation in water-based recreational activities, driven by rising disposable incomes and the expanding global tourism sector. This increase has directly influenced the demand for life jackets, as they are fundamental safety gear for activities like kayaking, canoeing, and sailing.

Governments and maritime organisations worldwide are implementing stringent safety regulations that mandate the use of life jackets on watercraft and during water activities. These regulations are designed to reduce the incidence of water-related fatalities and accidents, significantly propelling life jacket market growth.

Advancements in materials and design have improved the comfort, durability, and effectiveness of life jackets, making them more appealing to consumers. Modern life jackets are lighter, allow more mobility, and come equipped with features such as self-inflation, increased buoyancy, and thermal protection, enhancing the life jacket market expansion. Manufacturers are pushing the boundaries by creating multi-functional life jackets that offer more than just buoyancy. Some of these innovative designs include life jackets with hydration systems, integrated sun protection, or even thermal properties to protect against hypothermia, catering to the diverse needs of water sports enthusiasts.

The integration of wearable technology into life jackets is a growing trend. Features such as GPS tracking, water-activated lights, and distress signals are being incorporated to enhance safety. These technologies can provide precise location tracking in case of emergencies, making rescue operations faster and more efficient. There is an increasing demand for customised and personalised life jackets, especially in the recreational sector. As per the life jacket market outlook, consumers are looking for products that reflect personal style and fit specific needs, which has led to offerings with various colours, patterns, and functionalities tailored to different water activities and body types.

With a growing emphasis on family-oriented water activities, there is a heightened focus on children's safety products, including life jackets. Manufacturers are developing more advanced life jackets for children, featuring brighter colours for visibility, child-friendly designs, and additional safety features such as crotch straps and head support.

North America occupies a significant life jacket market share, attributed to well-established boating and water sports industries, coupled with strict maritime safety laws. The U.S. and Canada are significant contributors to the market's growth in this region. Europe holds a substantial share of the market, with Scandinavia, Germany, and the UK leading due to high safety standards and the popularity of water-related activities. The presence of numerous water bodies and the increasing popularity of marine tourism also contribute to market growth.

Looking forward, the life jacket market is set to expand significantly, driven by rising safety awareness, growing participation in marine and water sports, and stringent safety regulations. The development of more comfortable, technologically advanced life jackets is likely to attract a broader consumer base, further propelling market growth.

Market Segmentation

The market can be divided based on type, material, end use, and region.

Market Breakup by Type

  • Inherent
  • Inflatable

Market Breakup by Material

  • Nylon
  • Polyester
  • Others

Market Breakup by End Use

  • Water Sports
  • Military and Safety Operation
  • Others

Market Breakup by Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Competitive Landscape

The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global life jacket market. Some of the major players explored in the report are as follows:
  • Yamaha Motor Co., Ltd.
  • Johnson Outdoors Inc.
  • Switlik Parachute Company
  • Aqualung Group
  • Dongguan City Bestway Sports Goods Technology Co., Ltd.
  • Stormy Lifejackets Pty Ltd.
  • Kent Water Sports, LLC
  • SeaSafe Systems Ltd.
  • The Coleman Company, Inc.
  • Aqua-Leisure Recreation, LLC
  • Others

Table of Contents

1 Preface2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Life Jacket Market Analysis
8.1 Key Industry Highlights
8.2 Global Life Jacket Historical Market (2018-2023)
8.3 Global Life Jacket Market Forecast (2024-2032)
8.4 Global Life Jacket Market by Type
8.4.1 Inherent
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Inflatable
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.5 Global Life Jacket Market by Material
8.5.1 Nylon
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Polyester
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Others
8.6 Global Life Jacket Market by End Use
8.6.1 Water Sports
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Military and Safety Operation
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Others
8.7 Global Life Jacket Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
9 North America Life Jacket Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Life Jacket Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Life Jacket Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Life Jacket Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Life Jacket Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Yamaha Motor Co., Ltd.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Johnson Outdoors Inc.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Switlik Parachute Company
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Aqualung Group
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Dongguan City Bestway Sports Goods Technology Co., Ltd.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Stormy Lifejackets Pty Ltd.
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Kent Water Sports, LLC
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 SeaSafe Systems Ltd.
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 The Coleman Company, Inc.
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Aqua-Leisure Recreation, LLC
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Life Jacket Market: Key Industry Highlights, 2018 and 2032
2. Global Life Jacket Historical Market: Breakup by Type (USD Billion), 2018-2023
3. Global Life Jacket Market Forecast: Breakup by Type (USD Billion), 2024-2032
4. Global Life Jacket Historical Market: Breakup by Material (USD Billion), 2018-2023
5. Global Life Jacket Market Forecast: Breakup by Material (USD Billion), 2024-2032
6. Global Life Jacket Historical Market: Breakup by End Use (USD Billion), 2018-2023
7. Global Life Jacket Market Forecast: Breakup by End Use (USD Billion), 2024-2032
8. Global Life Jacket Historical Market: Breakup by Region (USD Billion), 2018-2023
9. Global Life Jacket Market Forecast: Breakup by Region (USD Billion), 2024-2032
10. North America Life Jacket Historical Market: Breakup by Country (USD Billion), 2018-2023
11. North America Life Jacket Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Europe Life Jacket Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Europe Life Jacket Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Asia Pacific Life Jacket Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Asia Pacific Life Jacket Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Latin America Life Jacket Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Latin America Life Jacket Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Middle East and Africa Life Jacket Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Middle East and Africa Life Jacket Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Global Life Jacket Market Structure

Companies Mentioned

  • Yamaha Motor Co., Ltd.
  • Johnson Outdoors Inc.
  • Switlik Parachute Company
  • Aqualung Group
  • Dongguan City Bestway Sports Goods Technology Co., Ltd.
  • Stormy Lifejackets Pty Ltd.
  • Kent Water Sports, LLC
  • SeaSafe Systems Ltd.
  • The Coleman Company, Inc.
  • Aqua-Leisure Recreation, LLC

Methodology

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Table Information