Market Trends of Racket Sports Equipment Industry
Increasing Participation of Tennis Sport
- Table tennis, also known as ping pong, has been gaining popularity worldwide due to its fast-paced nature and the fact that it can be played in a relatively small area. It is an extremely physically demanding sport that requires players to have a high level of stamina, speed, and flexibility.
- In recent years, table tennis has seen increased participation in the European region due in part to the dynamic sports taste of the locals. According to Sports England data from 2021, over 641,800 people in England played table tennis that year.
- The sport has also been attracting attention from consumers in North America and Europe, thanks in part to the various global platforms and the fame of top players. As a result, market players are launching new table tennis equipment such as goggles, shoes, rackets, and other accessories to improve users' comfort and sports experience.
- For example, in August 2022, Yonex Co. Ltd. launched the Osaka Ezone racket and pro series bag for table tennis players, offering them enhanced performance and functionality. Overall, the increasing popularity of table tennis is a positive sign for the sport's growth and development in the coming years.
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North America Dominates the Market
- North Americans have a strong interest in tennis due to its fast-paced nature and the fact that many renowned tennis players hail from the region. This has led to a significant fan following for the sport, which has, in turn, influenced children to take up tennis as a hobby or even a career path. As a result, various clubs and facilities have sprung up to train and support aspiring tennis players, leading to increasing demand for tennis and table tennis equipment in the regional market.
- Adults are also drawn to the sport because of the regular leagues and matches that take place throughout the year, which maintain their interest in the game. This has created a demand for professional equipment as teams and individual players strive to practice and perform at their best.
- Overall, the high buying power of North American consumers allows them to afford a personal set of racket sports equipment. The market offers a wide range of products at varying price points, making them accessible to almost everyone. In June 2022, Christopher Cloos, a leading maker of premium eyewear, launched its Cloos-Brooksby collection of eyewear, which includes blue light glasses and sunglasses designed specifically for tennis players.
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