The global tennis racquets market is anticipated to grow at a considerable CAGR during the forecast period (2022-2028). The increasing participation in tennis is anticipated to drive the global tennis racquets market. According to the data published by United States Tennis Association (USTA) in 2021, tennis participation increased in the US increased by 22.0% in 2020, with 21.54 million people hitting the courts. According to the Physical Activity Council’s Participation (PAC) report produced by Sports Marketing Surveys, approximately 21 million Americans played tennis in 2020, while 6.78 million were either new or lapsed players. Nearly 3 million of those were first-time players, which accounted for a 44.0% increase over new players in 2019. Additionally, 3.82 million Americans who returned to the sport after time away accounted for a 40.0% increase over new players in 2019. In addition, due to the increase in participation in tennis, the Tennis Industry Association reported that racquet sales in the entry-level category have witnessed a significant annual growth rate of 40.0%. In order to capitalize on the momentum surrounding the participation, the USTA collaborated with leading manufacturers to include a Net Generation hangtag of over 400,000 youth racquets sold by various mass sporting goods and tennis retailers across the US. Thus, the increasing tennis participation is anticipated to fuel the demand for the global tennis racquets market.
Looking toward the demand for tennis racquets, key market players are adopting various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market. For instance, in April 2022 Wilson Sporting Goods Co. launched its Earth Day Tennis Racket Series. The series includes three performance rackets such as Pro Staff 97v13, Blade 98 v8, and Clash 100 v2. These rackets feature bio-based and recycled materials from Agiplast technology by Arkema and waterborne paints from Sherwin Williams. According to the company, the Earth Day racket series will lower the amount of volatile organic compounds used during the application and manufacturing phases. Thus, such launches are anticipated to drive the growth of the global tennis racquets market during the forecast period.
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Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Raw Material
- By Application
- By Distribution Channel
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- Wilson Sporting Goods Co., Sketchers USA, Inc., Nike Inc among others
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Global Tennis Racquets Market Report by Segment
By Raw Material
Carbon Fiber
Aluminum
Others
By Application
- Core Players
- Amateur
By Distribution Channel
- Online
- Offline
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
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