Report : South & Central America 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 5.5% CAGR, South & Central America Tennis Racquet Market is Projected to be Worth US$ 27.08 Million by 2031, says Business Market Insights
According to Business Market Insights’ research, the South & Central America tennis racquet market was valued at US$ 17.61 million in 2023 and is expected to reach US$ 27.08 million by 2031, registering a CAGR of 5.5% from 2023 to 2031. New product innovations and rising government support to sports are among the critical factors attributed to drive the South & Central America tennis racquet market growth.
The demand for tennis racquet products is surging due to new product innovations by various market players such as, Yonex Co., Ltd. The company announced the launch of the 7th-generation VCORE racquet in January 2023. The 7th-generation VCORE racquet features a high trajectory spin ball that drops and bounces on a grand scale, allowing players a more comprehensive range of strategic and aggressive gameplay. Similarly, the DUNLOP brand of Sumitomo Rubber Industries, Ltd. has introduced an innovative CX Series range of control racquets. This innovative range has been designed to give players complete control over their power, spin, and accuracy. In addition to this, On April 10, 2023, Babolat released the new Pure Aero Rafa racket cosmetic endorsed by Rafael Nadal. It has a much higher swing weight and heavier frame. It is available in the original Aeropro Drive frame construction. Also, the company made available a lighter version. Moreover, the International Tennis Federation (ITF) had previously outlawed the smart racquets in competition; however, players can now use the technology, such as Rafael Nadal's new racquet and devices like heart-rate monitors that record data about player performance in real time. The first commercial release of tennis sensors was on August 22, 2013, with the Babolat Play. Since then, more and more products have emerged on the market that tries to measure every possible metric of a tennis player to improve performance. Hence, technology is changing the conventional ways of playing recreational and competitive sports such as tennis. Therefore, inertial measurement units (IMU) sensors have a buoyant demand from tennis players. These sensors are placed on the body or sporting equipment to record information, such as velocities, accelerations, and angles, that can be tracked and programmed in tennis. Thus, the increased demand for advanced technology-incorporated tennis racquet, and other related products, along with new product developments, is strongly complementing the market's growth.
On the contrary, high expenses related to tennis hamper the growth of South & Central America tennis racquet market.
Based on end user, the South & Central America tennis racquet market is bifurcated into adults and kids. The adults segment held a larger market share in 2023. The adults segment held 91.8% market share in 2023, amassing US$ 16.18 million. It is projected to garner US$ 24.95 million by 2031 to register 5.6% CAGR during 2023–2031. Furthermore, the adults segment is sub segmented into men and women.
In terms of material, the South & Central America tennis racquet market is categorized into graphite, titanium, carbon fiber, and others. The carbon fiber segment held 45.2% share of South & Central America tennis racquet market in 2023, amassing US$ 7.96 million. It is anticipated to garner US$ 12.85 million by 2031 to expand at 6.2% CAGR during 2023–2031.
By distribution channel, the South & Central America tennis racquet market is segmented into supermarkets & hypermarkets, specialty stores, online retail, and others. The supermarkets & hypermarkets segment held 34.6% share of South & Central America tennis racquet market in 2023, amassing US$ 6.10 million. It is projected to garner US$ 9.69 million by 2031 to expand at 6.0% CAGR from 2023 to 2031.
Based on country, the South & Central America tennis racquet market is categorized Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that Brazil captured 42.9% share of South & Central America tennis racquet market in 2023. It was assessed at US$ 7.57 million in 2023 and is likely to hit US$ 12.30 million by 2031, registering a CAGR of 6.3% during 2023–2031.
Key players operating in the South & Central America tennis racquet market are YONEX Co Ltd, Sumitomo Rubber Industries Ltd, HEAD, GAMMA Sports, PACIFIC Holding GmbH, Maus Freres SA, Babolat, Wilson Sporting Goods, and Authentic Brands Group LLC, among others.
- In March 2021, In 2021, Babolat launched the Pure Aero Rafa racquet as the Rafael Nadal signature series.
- In January 2021, The DUNLOP brand of Sumitomo Rubber Industries, Ltd. launched a new CX Series range of control rackets. This new range has been designed to give players complete control over their spin, power, and accuracy.
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