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The recreational boats market is expected to grow at a CAGR of 7.8% from 2020 to 2027 to reach $54.9 billion by 2027
The growth of this market is mainly attributed to the booming tourism industry, growing economic development, growing participation in boating activities, innovation in boat engines, and increasing disposable income.
These trends and the rising adoption of boating in Asian countries, including China, Japan, and Australia, offer manufacturers with new markets to capture over the forecast timespan. However, cyber-attacks & the intangible threat to the cruise industry, and high capital investment are expected to hinder the growth of this market to some extent.
About 140 million oysters are now living on 43 acres of newly created oyster reefs. Photo: N.C. Coastal Federation
The North Carolina Coastal Federation and partners nearly tripled their goal to restore 50 million oysters in coastal waters.
Through its 50 Million Oyster Initiative to build acres of new oyster reef and support at least 50 million oysters, there are now 140 million oysters on 43 acres of newly created oyster reefs in coastal North Carolina.
Oyster sanctuaries are areas dedicated to oyster repopulation that are open to fishing but not harvest. The adult oysters in the sanctuary will produce spat, or oyster larvae, that drift and attach to other oyster reefs.