Report : Asia Pacific Tennis Racquet Market Forecast to 2031 – Regional Analysis – by End User [Adults (Men and Women) and Kids], Material (Graphite, Titanium, Carbon Fiber, and Others), and Distribution Channel (Supermarkets & Hypermarkets, Specialty Stores, Online Retail, and Others)
At 5.8% CAGR, Asia Pacific Tennis Racquet Market is Projected to be Worth US$ 207.15 Million by 2031, says Business Market Insights
According to Business Market Insights’ research, the Asia Pacific tennis racquet market was valued at US$ 132.07 million in 2023 and is expected to reach US$ 207.15 million by 2031, registering a CAGR of 5.8% from 2023 to 2031. Rising government support to sports and adoption of tennis as recreational sport in young population are among the critical factors attributed to drive the Asia Pacific tennis racquet market growth.
The rising commitment of governments to sports has opened up new opportunities for sports such as tennis as opposed to earlier times when tennis was generally played only during Wimbledon in Europe. However, now, tennis has been widely played during numerous other events such as Commonwealth Games and Olympics. In addition to this, local governments continue to build additional facilities, including tennis courts., children’s parks, and outdoor fitness areas within public spaces. Local governments of important cities are working to promote sports traditionally played only by the elite, such as tennis. Nowadays, tennis equipment such as racquets frames that had been of a standard size and shape and constructed primarily of laminated wood were suddenly manufactured in a varied choice of shapes, sizes, and materials, the most substantial milestones being the introduction of metal frames. Sports associations and governments have been at the forefront of developments over the last few years. Efforts for rising sports participation, concentrating on tennis, have been highly observed in countries such as the China and India. Investments have been carried out for the advancement of tennis by China Tennis. All such factors are expected to propel the tennis racquet market growth over the forecast period.
On the contrary, high expenses related to tennis hamper the growth of Asia Pacific tennis racquet market.
Based on end user, the Asia Pacific tennis racquet market is bifurcated into adults and kids. The adults segment held a larger market share in 2023. The adults segment held 92.1% market share in 2023, amassing US$ 121.65 million. It is projected to garner US$ 192.19 million by 2031 to register 5.9% CAGR during 2023–2031. Furthermore, the adults segment is sub segmented into men and women.
In terms of material, the Asia Pacific tennis racquet market is categorized into graphite, titanium, carbon fiber, and others. The carbon fiber segment held 49.9% share of Asia Pacific tennis racquet market in 2023, amassing US$ 65.84 million. It is anticipated to garner US$ 107.42 million by 2031 to expand at 6.3% CAGR during 2023–2031.
By distribution channel, the Asia Pacific tennis racquet market is segmented into supermarkets & hypermarkets, specialty stores, online retail, and others. The supermarkets & hypermarkets segment held 36.9% share of Asia Pacific tennis racquet market in 2023, amassing US$ 48.76 million. It is projected to garner US$ 78.44 million by 2031 to expand at 6.1% CAGR from 2023 to 2031.
Based on country, the Asia Pacific tennis racquet market is categorized into Australia, China, Japan, India, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 34.8% share of Asia Pacific tennis racquet market in 2023. It was assessed at US$ 46.01 million in 2023 and is likely to hit US$ 70.40 million by 2031, registering a CAGR of 5.5% during 2023–2031.
Key players operating in the Asia Pacific tennis racquet market are YONEX Co Ltd, Sumitomo Rubber Industries Ltd, HEAD, Babolat, Wilson Sporting Goods, GAMMA Sports, PACIFIC Holding GmbH, Maus Freres SA, Authentic Brands Group LLC, and Freewill Infrastructures Pvt Ltd, among others.
- In January 2023, Wilson Sporting Goods launched the 'Concept' tennis racquet. The racket includes a QR code to allow play testers to learn about the frame and give pointed feedback via a survey.
- In October 2020, Babolat upgraded its most famous performance racket. The new Babolat Pure Drive 2021 racquet comes with a few upgrades.
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