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Japan life jacket market is projected to record a revenue of US$ 184.5 Mn by the end of the year 2027, with a CAGR of 5.9% during the forecast period of 2022 to 2027. The market is anticipated to record a growth of more than 1,500 thousand units during the forecast period.
Recording an opportunity of US$ 53.4 Mn during 2022-2027, the growth of the life jacket market in Japan is supported by the rising number of drowning incidences. According to the World Health Organization, drowning is 3rd leading cause of unintentional injury death worldwide, accounting for 7% of all injury-related deaths. In the year 2019, an estimated 236,000 people died from drowning, making drowning a major public health problem worldwide, injuries accounted for almost 8% of total global mortality. Thus, the rising number of drowning cases in the country boost the demand for life jackets, which is driving the overall market growth during the forecast period.
The report of the Japan life jacket market provides an in-depth study of the market, covering market growth factors and the challenges faced by the industry, including covid-19 impact. The research report gives a detailed and broad study of Japan life jacket market across 11 chapters, totaling 139 pages, with 28 extensive data tables, and 31 figures.
The report on the Japan life jacket market provides a compendious study of the market growth elements and the opportunities. Due to the increasing popularity of water sports, the region is witnessing immense growth opportunities for the life jacket industry. Japan being an island nation with high rainfall and an ideal destination for all kinds of water sports such as scuba diving, snorkeling, surfing, and many other water sports, this popularity in water sports is creating lucrative growth opportunities for the market.
The report shows a detailed interpretation based on the following segments – Type, Technology, Size, Material, Application, and Distribution Channel. As per the research analysis, in 2021, the sports stores segment contributed the major share of 34% in Japan life jackets market and is expected to reach US$ 65.7 million by the end of the year 2027, by exhibiting a CAGR of 6.6% during the forecast period. In terms, of volume, the market is anticipated to grow at a CAGR of 4.4% during 2022-2027.
Report Summary – Japan Life Jacket Market
The research report provides readers with a thorough analysis of Japan life jacket industry covering competitors’ mapping and benchmarking, growing trends in the life jacket marketplace, giving a 360-degree view of the regional market.
The research report also provides detailed product price analysis, comparing various types of materials used in the manufacturing of life jackets. As per the report, plastics hold a major position in a high price ratio when compared with other materials such as foam and nylon. Along with this, the report provides a time-series analysis comparing revenue and volume in different time periods during 2017-2027.
Further, the Japan life jacket market report shows the covid – 19 impacts on the market growth trend and how the market is recovering from the pandemic during the study period.
COVID – 19 Impact on Japan Life Jacket Market
The outbreak of the COVID-19 pandemic unfavorably affected the life jacket market in Japan, the Japan Life Jacket market has been disrupted by the closure of non-essential enterprises. During the Pandemic, social distancing norms were issued by the central government, which imposed strict norms to maintain the usage and storage of life jackets. As per the research, the life jacket association has issued guidelines regarding cleaning and storing Personal Floating Device (PFD). Overall analysis shows that the life jacket market witnessed a decline of approximately 2.2% in 2020, post the wave of covid – 19 and it's pandemic.
Market Key Players in Japan Life Jacket Market
Japan life jacket market report provides a detailed analysis of various companies, covering their business overview, product list, strategic analysis, key officials, recent developments, and company financials.
Major key players in the Japan life jacket market are Takashina Life Preservers Co., Ltd., Mitsui O.S.K. Lines, Ltd., Fujikura Composites Inc., K.K. Igarashi, Tailwalk, Fuji Trading Co. Ltd., Kobe Tonghin Pte Ltd., International Safety Products, VIKING Life-Saving Equipment A/S, and The Coleman Company among others.
According to the research study, the Japan life jacket market is observed to have a competitive nature and is projected to shift towards fragmented nature during the future period. Companies such as Fujikura Composites Inc., Survitec Group, Tailwalk, Mitsui O.S.K. Lines. Ltd., Nippon Tansan Gas Co., Ltd., Maritime Progress Ltd., K.K. Igarashi holds a cumulative ratio of 56.4% and the rest of the market is captured by other small players.
Japan Life Jacket Market – Segmentation Overview
As per the analysis, the life jackets market is categorized into two major types – The inherent type and the Inflatable type. As per the research report, the inherent-type life jackets segment accounted for the highest market share of 64.6% in 2020. The inherent-type life jackets market was valued at US$ 79.8 million in 2020, which is further expected to reach US$ 114.8 million by 2027 and projecting growth at a CAGR of 5.3% during the forecast period. The major reason for dominance is that the inherent life jackets are designed with solid material, such as foam, that enables an individual to float on the water and due to its cost-effectiveness, the demand for inherent life jackets are considerably high across several uses, such as day sailing, paddle sports, search & rescue, and others.
Japan life jacket market report segmented on the basis of the following:
By Material Type
By Distribution Channel
|Market Size Value in 2021||US$ 131.1 Mn|
|Expected Revenue in 2027||US$ 184.5 Mn|
|Unit||Value (USD Mn)|
|Segments covered||By Type, By Technology, By Size, By Material Type, By Application, By Distribution Channel|
|Key Companies||Takashina Life Preservers Co., Ltd., Mitsui O.S.K. Lines, Ltd., and other prominent players.|
|Customization Scope||Get your customized report as per your preference. Ask for customization|
Types of material used in life jackets are foam, nylon, and plastic.
Rising drownings cases in Japan leads to increase in demand for life jackets and innovations in life jackets in the country.
In 2021, size of the Japan Life Jacket Market was US$ 131.1 Mn.
Fujikura Composites Inc., Survitec Group, Tailwalk, Mitsui O.S.K. Lines. Ltd., Nippon Tansan Gas Co., Ltd., and Maritime Progress Ltd. among others are some major key players in the Japan life jacket market.
Japan life jacket market is segmented on the basis of type, technology, material type, size, and distribution channel.
The distribution channel are Hypermarket/ Supermarket, Departmental Stores, Online Retail and Sport Stores.
In 2021, life jackets are majorly used during fishing, and the segment holds highest share of 21.4%.
Inherent Jackets and Inflatable Jackets are two different types of life jackets available in Japan.
In Adults category, medium sized life jackets are majorly demanded, while in kids category, youth sized life jackets are highly in demand.
Japan Life Jacket market witnessed a decline of approx. -2.2% in 2020, post the outbreak of COVID-19 pandemic.
The regular maintenance of life jackets and inflatable canisters to avoid failure during accidents is one of the major restraints of the market.