Global Life Jacket Market Report and Forecast 2024-2032

Global Life Jacket Market Outlook

The global life jacket market size was approximately USD 1.87 billion in 2023. The market is assessed to grow at a CAGR of 5.3% between 2024 and 2032, reaching a value of USD 2.99 billion by 2032.

Key Trends in the Market

A life jacket is a garment which provides protection from drowning by keeping the mouth and nostrils of a person above water. It is generally yellow or orange in colour which makes spotting it in water easy. It is made up of lightweight materials like nylon and polyester, hence it weighs much less than the average weight density of human beings.

• Growing concerns regarding water injury and accidents are positively influencing the life jacket market growth. Life jackets are available in diverse sizes at affordable prices, can prevent accidental drownings, and provide extra comfort and mobility in water.

• One of the crucial life jacket market trends is the growing popularity of water sports such as paddleboarding, swimming, and kayaking, among others. Water sports are widely preferred as fun as well as stress-relieving activities among all age groups and are known to improve physical and emotional well-being.

• The introduction of stringent government regulations to ensure the safety of marine transportation and water sports is positively impacting the demand for life jackets. Moreover, the life jacket market demand is being aided by the growing popularity of beach tourism and cruising for rejuvenation and recreational activities. Life jackets play an essential role in ensuring the safety of passengers and tourists and lowering the risk of injuries.

Market Analysis

Based on type, the market is segmented into inherent and inflatable. On the basis of material, the market can be divided into nylon, and polyester, among others.

The life jacket market segmentation, based on end-use, includes water sports, and military and safety operation, among others. The major regional markets for life jackets include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global life jacket market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• 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

Market Share by End- Use

As per the global life jacket market analysis, the demand for life jackets is anticipated to substantially increase in the water sports sector in the coming years. This can be attributed to growing interest in travel  post-pandemic and the introduction of strict regulations by governments to prevent water accidents. Water sports include a wide range of activities like swimming, surfing, canoeing, and river rafting, among others, that benefit both physical and mental health, hence aiding the segment’s growth.

Meanwhile, the demand for defence life jackets is likely to witness a significant rise in the coming years amid the development of lightweight and technologically advanced jackets with features like GPS and in-built radios. Increasing defence budgets and rising attempts by governments to safeguard their skilled navy personnel are also expected to propel the segment’s growth in upcoming years.

Market Share by Region

North America is represent a significant portion of the life jacket market, supported by the huge popularity of water sports in both Canada and the USA. The defence sector in the US also uses special life jackets equipped with GPS and small communication systems that can help in safeguarding and tracking military personnel and assets.

Moreover, the livelihoods of many Canadians working in the fisheries, aquaculture, and energy production industries are dependent on the  Pacific, the Arctic, and the Atlantic Oceans, which drives up the demand for life jackets in the country.

Competitive Landscape

Yamaha Motor Co., Ltd. was founded in  1955 and is headquartered in Shizuoka, Japan. It operates in a wide range of sectors, including marine products, robotics, and financial services, among others. Its core area of expertise includes powertrain technology that originates from motorcycle development and the classic/hull technology that complements the performance of vehicles. It has a global presence spanning across 200 countries and its aim is to create products which surpass customer expectations.

Johnson Outdoors Inc. was founded in 1970 and is headquartered in Wisconsin, United States. It is a family of core brands   like Minn Kota, Humminbird, and Cannon Downriggers that build products by using emerging technologies. It operates in 24 countries across the world and has made many innovative vehicle products, like pedal-powered watercraft that does not  require paddling by humans.

Switlik Parachute Company was founded in 1920 in the United States. It manufactures a wide variety of products, including life vests, anti-gravity suits, and face shields, among others. It has a global presence and a client base within the municipal police, fire, and search and rescue sectors.

Other life jacket market players include 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., and Aqua-Leisure Recreation, LLC, among others.

Key Highlights of the Report

Life Jacket Market Report Snapshots

Life Jacket Market Size

Life Jacket Market Share

Life Jacket Market Analysis

Life Jacket Companies