Global Life Jacket Market Report and Forecast 2024-2032

Global Life Jacket Market Report and Forecast 2024-2032

Global Life Jacket Market Report and Forecast 2024-2032

Market Outlook

According to the report by Expert Market Research (EMR), 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 EMR 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 by Expert Market Research 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

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.