PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1621698
PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1621698
Racket Sports Products Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2024 - 2032
The Global Racket Sports Products Market was valued at USD 4.5 billion in 2023 and is projected to grow at a CAGR of 6% from 2024 to 2032. The increasing focus on health and fitness has been a key driver of this growth, with more people engaging in racket sports like tennis, badminton, and squash. These sports provide an enjoyable way to stay active, which has fueled demand for equipment in this sector. As individuals prioritize fitness and well-being, racket sports have become a popular choice for physical activity. This rising participation has significantly boosted the demand for products such as rackets, balls, and accessories.
The market is segmented based on product type, with the balls segment dominating in 2023. This segment generated USD 1.7 billion in revenue and is expected to grow at a CAGR of 6.2% during the forecast period. The frequent need to replace balls due to wear and tear ensures a steady sales cycle, unlike rackets, which have a longer lifespan. In terms of distribution channels, the market is divided into offline and online. The offline segment led the market in 2023, holding a 77.3% share.
This dominance is expected to continue, with a CAGR of 6.1% projected from 2024 to 2032. Consumers often prefer in-person purchases of racket sports equipment, as it allows them to assess the quality and feel of items like rackets and apparel before buying. North America held a significant market share in 2023, generating USD 1.3 billion in revenue. The region is anticipated to grow at a CAGR of 6.3% over the forecast period. This growth is driven by major sporting events, strong youth participation in sports, and increased investments in sports infrastructure.
| Market Scope | |
|---|---|
| Start Year | 2023 |
| Forecast Year | 2024-2032 |
| Start Value | $4.5 Billion |
| Forecast Value | $7.6 Billion |
| CAGR | 6% |
Additionally, North America's established retail networks and the impact of celebrity endorsements play a crucial role in boosting equipment sales
Table of Contents
Chapter 1 Methodology & Scope
- 1.1 Market scope & definition
- 1.2 Base estimates & calculations
- 1.3 Forecast parameters
- 1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
- 1.4.2.1 Paid sources
- 1.4.2.2 Public sources
Chapter 2 Executive Summary
- 2.1 Industry 360° synopsis, 2021 - 2032
Chapter 3 Industry Insights
- 3.1 Industry ecosystem analysis
- 3.1.1 Factors affecting the value chain
- 3.1.2 Profit margin analysis
- 3.1.3 Disruptions
- 3.1.4 Future outlook
- 3.1.5 Manufacturers
- 3.1.6 Distributors
- 3.2 Impact forces
- 3.2.1 Growth drivers
- 3.2.1.1 Increasing popularity of racket sports
- 3.2.1.2 Increasing health and fitness awareness
- 3.2.1.3 Brand collaborations and sponsorships
- 3.2.1.4 Events and tournaments
- 3.2.2 Industry pitfalls & challenges
- 3.2.2.1 High competition
- 3.2.2.2 Presence of counterfeit products
- 3.2.1 Growth drivers
- 3.3 Technology & innovation landscape
- 3.4 Consumer buying behavior analysis
- 3.4.1 Demographic trends
- 3.4.2 Factors affecting buying decision
- 3.4.3 Consumer product adoption
- 3.4.4 Preferred distribution channel
- 3.5 Growth potential analysis
- 3.6 Regulatory landscape
- 3.7 Pricing analysis
- 3.8 Porter's analysis
- 3.9 PESTEL analysis
Chapter 4 Competitive Landscape, 2023
- 4.1 Introduction
- 4.2 Company market share analysis
- 4.3 Competitive positioning matrix
- 4.4 Strategic outlook matrix
Chapter 5 Market Estimates & Forecast, By Product Type, 2021 - 2032, (USD Billion) (Thousand Units)
- 5.1 Key trends
- 5.2 Rackets
- 5.2.1 Tennis rackets
- 5.2.2 Badminton rackets
- 5.2.3 Squash rackets
- 5.2.4 Table tennis paddles
- 5.3 Balls
- 5.3.1 Tennis balls
- 5.3.2 Shuttlecocks
- 5.3.3 Squash balls
- 5.3.4 Table tennis balls
- 5.4 Accessories
- 5.4.1 Grips
- 5.4.2 Strings
- 5.4.3 Covers
- 5.4.4 Wristbands, Headbands, and Gloves
- 5.4.5 Others (e.g., nets, bags)
Chapter 6 Market Estimates & Forecast, By End Use, 2021 - 2032, (USD Billion) (Thousand Units)
- 6.1 Key trends
- 6.2 Men
- 6.3 Women
- 6.4 Kids
Chapter 7 Market Estimates & Forecast, By Application, 2021 - 2032, (USD Billion) (Thousand Units)
- 7.1 Key trends
- 7.2 Individual
- 7.3 Commercial
- 7.3.1 Schools & Institutions
- 7.3.2 Sports academies
- 7.3.3 Clubs
Chapter 8 Market Estimates & Forecast, By Sport, 2021 - 2032, (USD Billion) (Thousand Units)
- 8.1 Key trends
- 8.2 Tennis
- 8.3 Table tennis
- 8.4 Badminton
- 8.5 Squash
Chapter 9 Market Estimates & Forecast, By Price Range, 2021 - 2032, (USD Billion) (Thousand Units)
- 9.1 Key trends
- 9.2 Low
- 9.3 Medium
- 9.4 High
Chapter 10 Market Estimates & Forecast, By Distribution Channel, 2021 - 2032, (USD Billion) (Thousand Units)
- 10.1 Key trends
- 10.2 Online
- 10.2.1 E-Commerce website
- 10.2.2 Company website
- 10.3 Offline
- 10.3.1 Sports specialty stores
- 10.3.2 Supermarkets/Hypermarkets
- 10.3.3 Department stores
Chapter 11 Market Estimates & Forecast, By Region, 2021 - 2032, (USD Billion) (Thousand Units)
- 11.1 Key trends
- 11.2 North America
- 11.2.1 U.S.
- 11.2.2 Canada
- 11.3 Europe
- 11.3.1 Germany
- 11.3.2 UK
- 11.3.3 France
- 11.3.4 Italy
- 11.3.5 Spain
- 11.4 Asia Pacific
- 11.4.1 China
- 11.4.2 India
- 11.4.3 Japan
- 11.4.4 South Korea
- 11.4.5 Australia
- 11.4.6 Malaysia
- 11.4.7 Indonesia
- 11.5 Latin America
- 11.5.1 Brazil
- 11.5.2 Mexico
- 11.6 MEA
- 11.6.1 Saudi Arabia
- 11.6.2 UAE
- 11.6.3 South Africa
Chapter 12 Company Profiles (Business Overview, Financial Data, Product Landscape, Strategic Outlook, SWOT Analysis)
- 12.1 Apacs Sports (M) Sdn. Bhd.
- 12.2 ASICS Corporation
- 12.3 Babolat
- 12.4 FELET International Holdings Sdn. Bhd.
- 12.5 Gosen Co., Ltd.
- 12.6 Head Sports
- 12.7 Karakal Sports
- 12.8 Li Ning (China) Sports Goods Co., Ltd.
- 12.9 Mizuno Corporation
- 12.10 Prince Sports, Inc.
- 12.11 Tecnifibre
- 12.12 Victor Rackets Ind. Corp.
- 12.13 Wilson Sporting Goods Co.
- 12.14 Yehlex
- 12.15 Yonex Co., Ltd.
