Report : Asia Pacific Tennis Racquet Market Forecast to 2028 – Regional Analysis – By End User (Adults and Kids) and Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Retail, and Others)
At 4.7% CAGR, the Asia Pacific Tennis Racquet Market is speculated to be worth US$ 148.09 million by 2030, says Business Market Insights
According to Business Market Insights research, the Asia Pacific tennis racquet market was valued at US$ 107.50 million in 2023 and is expected to reach US$ 148.09 million by 2028, registering a CAGR of 4.7% from 2023 to 2028. Adoption of tennis as recreational sport in young population and rising government support to sports are the critical factors attributed to Asia Pacific tennis racquet market expansion.
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 hampers the Asia Pacific tennis racquet market.
Based on distribution channel, the Asia Pacific tennis racquet market is segmented into supermarkets & hypermarkets, specialty stores, online stores, and others. The supermarkets & hypermarkets segment held 36.4% share of Asia Pacific tennis racquet market in 2023, amassing US$ 39.17 million. It is projected to garner US$ 55.24 million by 2030 to expand at 5.0% CAGR during 2023–2030.
Based on end-user, the Asia Pacific tennis racquet market is segmented into adults and kids. The adults segment held 93.0% share of Asia Pacific tennis racquet market in 2023, amassing US$ 100.00 million. It is projected to garner US$ 138.76 million by 2030 to expand at 4.8% CAGR during 2023–2030.
Based on country, the Asia Pacific tennis racquet market has been categorized into the Australia, China, India, Japan, South Korea, and Rest of Asia Pacific. Our regional analysis states that the China captured 34.8% share of Asia Pacific tennis racquet market in 2023. It was assessed at US$ 37.43 million in 2023 and is likely to hit US$ 50.39 million by 2028, exhibiting a CAGR of 4.3% during the forecast period.
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 Frères SA; Authentic Brands Group LLC; and Freewill Infrastructures Pvt. Ltd. among others.
- In April 2023, Yonex Co., Ltd. launched a tennis racquet of 7th-Generation VCORE: The Art of Spin.'
- In October 2023, HEAD launched the 'BOOM' tennis racquet.
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