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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Life Jacket Market Size
The global life jacket market 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.
Life Jacket Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 1.87 billion.
The market is estimated to grow at a CAGR of 5.3% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a value of around USD 2.99 billion by 2032.
The market is being driven by increasing government regulation for ensuring safe passenger travel on ships and boats, and growing awareness among youth about water accidents.
The key trends aiding the market expansion include innovations and new product launches, and growing safety concerns among water sports enthusiasts.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major end uses of life jacket are water sports, and military and safety operations, among others.
The major players in the market are 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., and Aqua-Leisure Recreation, LLC, among others.
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