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Racket Sports Equipment Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The racket sports equipment market is segmented by Product (Rackets, Balls, Eyewear, Racket bags, Shoes, and Accessories); By Sport (Lawn Tennis, Table Tennis, Badminton, and Squash); By Distribution Channel (Supermarkets/Hypermarkets, Specialty Stores, Online Stores, and Others), and by Geography.

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Racket Sports Equipment Market Snapshot

Racket Sports Equipment Market
Study Period: 2016 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 2.64 %

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Market Overview

The racket sports equipment market is expected to grow with a CAGR of 2.64% during the forecast period (2020 - 2025).

  • An increasing interest in outdoor activities in order to maintain wellbeing and fitness is a major driving factor for the growth of the market.
  • The upgrading society in the developing regions backed up by an improved economy has been motivating the locals to develop a likeness for racket sports that require individual equipment.
  • However, due to the inclination of a major portion of the population in the European countries towards football and other sports and adventure activities, the market is likely to witness a hindered growth in the developed region.

Scope of the Report

The racket sports equipment market is segmented by product into rackets, balls, eyewear, racket bags, shoes, and accessories. By sport, the market is segmented as equipment dedicatedly used in lawn tennis, table tennis, badminton, and squash. Based on the distribution channel, the market is classified into supermarkets/hypermarkets, specialty stores, online stores, and others. The market is also segmented by geography into North America, Europe, Asia Pacific, South America, and the Middle East and Africa regions.

By Product
Rackets
Balls
Eyewear
Racket bags
Shoes
Accessories
By Sport
Lawn Tennis
Table Tennis
Badminton
Squash
By Distribution Channel
Supermarkets/Hypermarkets
Specialty Stores
Online Stores
Others
Geography
North America
United States
Canada
Mexico
Rest of North America
Europe
United Kingdom
Gremany
France
Spain
Italy
Russia
Rest of Europe
Asia Pacific
China
Japan
India
Australia
Rest of Asia Pacific
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Saudi Arabia
South Africa
Rest of the Middle East & Africa

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Key Market Trends

Increasing Participation in Table Tennis is Anticipated to Benefit the Market

Table tennis is gaining popularity across the globe due to its fast play nature, without the requirement of a large play area. It is an extreme fitness sport that requires stamina, speed, and flexibility. Table tennis has been witnessing increased participation in the European region due to the dynamic sports taste of the natives. The figures of participating members in the United Kingdom for able-bodied players aged 16 and over and for disability players both rose in 2015. Table Tennis England planned a series of initiatives in the coming months to ensure this trend continues. A similar trend can be observed in the United States which has been witnessing consistent high sales of table tennis equipment in the past few years over the last decade. Countries of the Asia Pacific region like China, Japan, and Korea have already been actively involved in the sport. Thus, the overall growing popularity of the sport is likely to propel the market for racket sports equipment in the near future.

Racket Sports Equipment Market1

North America Dominates the Racket Sports Equipment Market

North American people are fond of tennis as it is a fast game and because many of the renowned tennis players are native to America. The mass fan following of the game has been influencing the kids to participate in the sport after seeing their parents' interest in the same. The opening of various clubs that train the children to play tennis and regular playing of the game in the neighborhoods has led to increasing demand for tennis and table tennis equipment in the regional market. The interest of the adults is because of the leagues and matches that happen regularly throughout the year, maintaining the interest of the people in the game. The demand for professional equipment also arises for the various teams and individual players who practice for the games dedicatedly. Thus, it can be concluded that the high buying power helps the individuals in the region afford a personal set of racket sports equipment, as the market has ample of products ranging from high to low prices for almost everyone to afford.               

Racket Sports Equipment Market2

Competitive Landscape

The Racket Sports Equipment Market giants have been expanding their geographical presence by strengthening their distribution channels in the regional market as the craze for health and fitness increases at a global level. Expansion is the most preferred growth strategy followed by new product developments. The manufacturers have been innovating their products and are moving towards sustainable manufacturing by using recycled materials for making rackets and other equipment required for racket sports. The global players have an upper hand opportunity to capture the regional markets due to their esteemed reputations in their native region, which can easily be revealed in the new market through the internet. The major players are thus, hosting events and providing sponsorships in the new regions to catch hold of the potential markets to develop a strong consumer base in the forecast period.

Racket Sports Equipment Market-market concentration.png

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

    1. 3.1 Market Overview

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Product

      1. 5.1.1 Rackets

      2. 5.1.2 Balls

      3. 5.1.3 Eyewear

      4. 5.1.4 Racket bags

      5. 5.1.5 Shoes

      6. 5.1.6 Accessories

    2. 5.2 By Sport

      1. 5.2.1 Lawn Tennis

      2. 5.2.2 Table Tennis

      3. 5.2.3 Badminton

      4. 5.2.4 Squash

    3. 5.3 By Distribution Channel

      1. 5.3.1 Supermarkets/Hypermarkets

      2. 5.3.2 Specialty Stores

      3. 5.3.3 Online Stores

      4. 5.3.4 Others

    4. 5.4 Geography

      1. 5.4.1 North America

        1. 5.4.1.1 United States

        2. 5.4.1.2 Canada

        3. 5.4.1.3 Mexico

        4. 5.4.1.4 Rest of North America

      2. 5.4.2 Europe

        1. 5.4.2.1 United Kingdom

        2. 5.4.2.2 Gremany

        3. 5.4.2.3 France

        4. 5.4.2.4 Spain

        5. 5.4.2.5 Italy

        6. 5.4.2.6 Russia

        7. 5.4.2.7 Rest of Europe

      3. 5.4.3 Asia Pacific

        1. 5.4.3.1 China

        2. 5.4.3.2 Japan

        3. 5.4.3.3 India

        4. 5.4.3.4 Australia

        5. 5.4.3.5 Rest of Asia Pacific

      4. 5.4.4 South America

        1. 5.4.4.1 Brazil

        2. 5.4.4.2 Argentina

        3. 5.4.4.3 Rest of South America

      5. 5.4.5 Middle East & Africa

        1. 5.4.5.1 Saudi Arabia

        2. 5.4.5.2 South Africa

        3. 5.4.5.3 Rest of the Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Active Companies

    2. 6.2 Most Adopted Strategies

    3. 6.3 Market Share Analysis

    4. 6.4 Company Profiles

      1. 6.4.1 Amer Sports

      2. 6.4.2 Babolat

      3. 6.4.3 Head N.V.

      4. 6.4.4 Tecnifibre

      5. 6.4.5 Yonex Co., Ltd.

      6. 6.4.6 Goode Sport

      7. 6.4.7 Gamma Sports

      8. 6.4.8 Asics

      9. 6.4.9 SRI Sports Limited

      10. 6.4.10 Li-Ning

      5. *List Not Exhaustive

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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Frequently Asked Questions

The Racket Sports Equipment Market market is studied from 2016 - 2026.

The Racket Sports Equipment Market is growing at a CAGR of 2.64% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

Amer Sports, Babolat, Head N.V., Yonex Co., Ltd., Tecnifibre are the major companies operating in Racket Sports Equipment Market.

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