July 21, 2022 11:30 ET | Source: FACT.MR FACT.MR

United States, Rockville MD, July 21, 2022 (GLOBE NEWSWIRE) -- According to Fact.MR, a market research and competitive intelligence provider, the global pool float market is estimated at US$ 878.9 million in 2022 and is expected to expand at an impressive CAGR of 6.6% during the forecast years of 2022-2032. The market is set to grow rapidly due to remarkable use case and safety provided by pool floats.

Leading manufacturers are adopting the strategy of customization to attract more customers. Top-notch customization as per customer demand, improving consumer comfort, and high functionality are likely to strengthen the segmental revenue of companies. Manufacturers are aiming to make pool floats with sustainable materials to attract environment-conscious customers and diversify their product range. Moreover, monogrammed pool floats are also gaining attraction and providing an emotional quotient to pool floats, which is bringing new opportunities for pool float manufacturers.

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Customization in graphics and shapes is considered a game-changer, as fancy-looking pool floats attract a lot of teenagers. Additionally, the culture of pool parties is growing day by day, which is driving the market for pool floats with advanced beverage floaters and pool games.

Use of pool floats has increased significantly after the initial phases of the COVID pandemic. In 2021, global revenue from the water sports gear market stood at US$ 46.2 billion. Pool floats are a crucial piece of equipment in the water sports industry. As such, growth of the water sports industry is directly proportional to the demand growth for pool floats.

Will Residential Swimming Pools in the U.S. Drive High Demand for Pool Floats?

The United States pool float market is currently estimated at US$ 370.8 million and is expected to reach US$ 740.3 million by 2032.

The United States is a prominent indoor pool activity hub. The country has a large number of residential pools (roughly 97% of North America) and uses the largest number of swimming floats for adults.

The striking development of America's water sports industry presents significant opportunities for market players. Rapid growth of the sporting goods industry is likely to create lucrative opportunities for pool float vendors in the near future.

Moreover, the country is seeing high demand for relaxation pool floats, fun pool floats, tanning pool floats, and party pool floats.

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Key Segments Covered in the Pool Float Industry Survey

Tier-1 manufacturers of pool float products are focusing on acquiring tier-2 and tier-3 manufacturers to enhance their product portfolios and develop a strong distribution network.

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Key players in the Pool Float Market

Key Takeaways from Pool Float Market Study

About the Consumer Goods Division at Fact.MR

Expert analysis, actionable insights, and strategic recommendations of the highly seasoned technology team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million-plus data points, the team has analysed the consumer goods across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services.

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