Asia Pacific Tennis Racquet Market Forecast to 2028
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)
$2,100 – $3,500
- Description
- Toplines
- Reasons for Buying
- Table of Contents
- List of Tables
- LIst of Figures
- List of Companies
- Reviews (0)
Description
Adoption of Eco-Friendly Material for Tennis Racquets Fuels Asia Pacific Tennis Racquets Market
From most tennis consumers ‘ viewpoint, the life cycle of a tennis racket is just from purchasing a brand-new racket to tossing away a worn-out racquet. However, the life cycle of a racquet is beyond that when environmental impacts are considered – from obtaining raw materials to decomposing the racquet. Assessing the life cycle of the tennis racquet opens another standpoint for consumers, especially looking into the materials needed to make, transport, distribute, and recycle a tennis racquet, which indicates the impact of a single tennis racquet on the environment. In February 2022, the Public Environmental Center for Sustainable Development (PECSD) found that over 90% of the one-and-a-half tons of waste collected are plastic bottles, cups, bags, stirrers, utensils, sunscreen wrappers, belts, toys, and even tennis racquets. Hence, manufacturers are adopting advanced technologies in manufacturing tennis racquets to minimize tennis racquet waste and encourage players to adopt eco-friendly tennis racquets. For instance, on April 22, 2022, Wilson Sporting Goods announced the launch of their eco-friendly tennis racquet series in celebration of Earth Day. The eco-conscious collection, including three performance rackets, features bio-based and recycled material from Agiplast technology by Arkema and waterborne paints from Sherwin Williams, eventually decreasing the footprint of each racket produced. On the other hand, in May 2023, Luxilon released the first 100%-recycled string used in tennis racquets. Luxilon Eco Power is a performance tennis string innovated from entirely recycled materials composed of old plastic bottles, and the minimalist packaging also trims down on the amount of paper used to lower waste. Therefore, the presence of tennis brands, such as Yonex Co., Ltd., HEAD, and Wilson Sporting Goods worldwide, operating in the Asia Pacific tennis racquet market, has elevated sustainability efforts. All these factors are likely to provide lucrative opportunities for the tennis racquet market during the forecast period.
Asia Pacific Tennis Racquet Market Overview
The Asia Pacific region comprises Australia, China, India, Japan, South Korea, and other countries. Asia Pacific region has the most tennis participants due to many players from countries like China and India. According to Physical Activity Council (PAC) study, for the Asian Pacific Islander community, participation increased by 37% during the last three years (2019-2021), with 2.4 million people of the region playing tennis in 2022. With the growing number of tennis players, the Asia Pacific region offers massive opportunities for the growth of the tennis racquet market.
Singapore, another country from the Asia Pacific, is becoming the sports hub and adopting strategies to promote women’s tennis within the region. Indonesia and Malaysia have already seen considerable increases in children engaging in the Junior Tennis Initiative (JTI) program. Moreover, interest in tennis in various Asia Pacific countries such as China, Japan, India, and Thailand, has been helped by the success of top professional tennis players in the country. These players have sparked an increased interest in tennis among people from the region. Additionally, governments from Asia Pacific countries encourage the younger generation into the game by implementing favorable policies. The government of India has implemented Khelo India-National Program to develop and grow sports activities in the country. In addition, on December 27, 2022, the Association of Tennis Professionals (ATP) Tour and PacificPine Sports (a leading sports training and management company in China) partnered to create officially licensed ‘Tennis Development Centers’ in China & Hong Kong. The multi-year partnership, which begins in 2023, would provide a lucrative opportunity for the ATP to engage with junior tennis players and young fans across the region. Such policies from the governments and strategic partnership initiatives by the Asia Pacific tennis associations are expected to promote sports activities across the region, providing growth opportunities for the tennis racquet market.
Asia Pacific Tennis Racquet Market Revenue and Forecast to 2030 (US$ Million)
Asia Pacific Tennis Racquet Market Segmentation
The Asia Pacific tennis racquet market is segmented into distribution channel, end user, and country.
Based on distribution channel, the Asia Pacific tennis racquet market is segmented into supermarkets & hypermarkets, specialty store, online retail, and others. The supermarkets & hypermarkets segment held a largest share of the Asia Pacific tennis racquet market in 2023.
Based on end user, the Asia Pacific tennis racquet market is segmented into adults and kids. The adults segment held the larger share of the Asia Pacific tennis racquet market in 2023.
Based on country, the Asia Pacific tennis racquet market is segmented into the Australia, China, India, Japan, South Korea, and Rest of Asia Pacific. China dominated the Asia Pacific tennis racquet market in 2023.
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. are some of the leading companies operating in the Asia Pacific tennis racquets market.
Summary Info
| Industry: | |
|---|---|
| Pricing options: | |
| Publishing status: | |
| Geographical coverage: | |
| Year of Publication: |
According to the research team’ 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.
o Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Asia Pacific tennis racquet market.
o Highlights key business priorities in order to assist companies to realign their business strategies.
o The key findings and recommendations highlight crucial progressive industry trends in Asia Pacific tennis racquet market. thereby allowing players across the value chain to develop effective long-term strategies.
o Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
o Scrutinize in-depth Asia Pacific market trends and outlook coupled with the factors driving the market, as well as those hindering it.
o Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution.
TABLE OF CONTENTS
1. Introduction
1.1 Study Scope
1.2 The Research Team Report Guidance
1.3 Market Segmentation
1.3.1 Asia Pacific Tennis Racquet Market, by End-User
1.3.2 Asia Pacific Tennis Racquet Market, by Distribution Channel
1.3.3 Asia Pacific Tennis Racquet Market, by Country
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
3.2.1 Data Collection:
3.2.2 Primary Interviews:
3.2.3 Hypothesis formulation:
3.2.4 Macro-economic factor analysis:
3.2.5 Developing base number:
3.2.6 Data Triangulation:
3.2.7 Country level data:
4. Asia Pacific Tennis Racquet Market Landscape
4.1 Market Overview
4.2 Asia Pacific PEST Analysis
4.3 Expert Opinion
5. APAC Tennis Racquet Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Adoption of Tennis as Recreational Sport in Young Population
5.1.2 Rising Government Support to Sports
5.2 Market Restraints
5.2.1 High Expenses Related to Tennis
5.3 Market Opportunities
5.3.1 Adoption of eco-friendly material for tennis racquets
5.4 Future Trends
5.4.1 New Product Innovations
5.5 Impact Analysis
6. Asia Pacific Tennis Racquet – Market Analysis
6.1 Asia Pacific Tennis Racquet Market –Revenue and Forecast to 2030 (US$ Million)
7. Asia Pacific Tennis Racquet Market Analysis – By End-User
7.1 Overview
7.2 Asia Pacific Tennis Racquet Market, By End-User (2022 and 2030)
7.3 Adults
7.3.1 Overview
7.3.2 Adults: Tennis Racquet Market – Revenue and Forecast to 2030 (US$ Million)
7.4 Kids
7.4.1 Overview
7.4.2 Kids: Asia Pacific Tennis Racquet Market – Revenue and Forecast to 2030 (US$ Million)
8. Asia Pacific Tennis Racquet Market Analysis – By Distribution Channel
8.1 Overview
8.2 Asia Pacific Tennis Racquet Market, By Distribution Channel (2022 and 2030)
8.3 Supermarkets and Hypermarkets
8.3.1 Overview
8.3.2 Supermarkets and Hypermarkets: Asia Pacific Tennis Racquet Market – Revenue and Forecast to 2030 (US$ Million)
8.4 Specialty Stores
8.4.1 Overview
8.4.2 Specialty Stores: Asia Pacific Tennis Racquet Market – Revenue and Forecast to 2030 (US$ Million)
8.5 Online Retail
8.5.1 Overview
8.5.2 Asia Pacific Online Retail: Tennis Racquet Market – Revenue and Forecast to 2030 (US$ Million)
8.6 Others
8.6.1 Overview
8.6.2 Others: Asia Pacific Tennis Racquet Market – Revenue and Forecast to 2030 (US$ Million)
9. Asia Pacific Tennis Racquet Market – Country Analysis
9.1 Overview
9.1.1 Asia Pacific: Tennis Racquet Market, by Key Country
9.1.1.1 Australia: Tennis Racquet Market –Revenue and Forecast to 2030 (US$ Million)
9.1.1.1.1 Australia: Tennis Racquet Market, by End-User
9.1.1.1.2 Australia: Tennis Racquet Market, by Distribution Channel
9.1.1.2 China: Tennis Racquet Market –Revenue and Forecast to 2030 (US$ Million)
9.1.1.2.1 China: Tennis Racquet Market, by End-User
9.1.1.2.2 China: Tennis Racquet Market, by Distribution Channel
9.1.1.3 India: Tennis Racquet Market –Revenue and Forecast to 2030 (US$ Million)
9.1.1.3.1 India: Tennis Racquet Market, by End-User
9.1.1.3.2 India: Tennis Racquet Market, by Distribution Channel
9.1.1.4 Japan: Tennis Racquet Market –Revenue and Forecast to 2030 (US$ Million)
9.1.1.4.1 Japan: Tennis Racquet Market, by End-User
9.1.1.4.2 Japan: Tennis Racquet Market, by Distribution Channel
9.1.1.5 South Korea: Tennis Racquet Market –Revenue and Forecast to 2030 (US$ Million)
9.1.1.5.1 South Korea: Tennis Racquet Market, by End-User
9.1.1.5.2 South Korea: Tennis Racquet Market, by Distribution Channel
9.1.1.6 Rest of Asia Pacific: Tennis Racquet Market –Revenue and Forecast to 2030 (US$ Million)
9.1.1.6.1 Rest of Asia Pacific: Tennis Racquet Market, by End-User
9.1.1.6.2 Rest of Asia Pacific: Tennis Racquet Market, by Distribution Channel
10. Industry Landscape
10.1 Overview
10.2 Expansion
10.3 New Product Development
10.4 Merger and Acquisition
11. Company Profiles
11.1 YONEX Co., Ltd.
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 Sumitomo Rubber Industries Ltd
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 HEAD
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 Babolat
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 Wilson Sporting Goods
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments
11.6 GAMMA Sports
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Products and Services
11.6.4 Financial Overview
11.6.5 SWOT Analysis
11.6.6 Key Developments
11.7 PACIFIC Holding GmbH
11.7.1 Key Facts
11.7.2 Business Description
11.7.3 Products and Services
11.7.4 Financial Overview
11.7.5 SWOT Analysis
11.7.6 Key Developments
11.8 Maus Frères SA
11.8.1 Key Facts
11.8.2 Business Description
11.8.3 Products and Services
11.8.4 Financial Overview
11.8.5 SWOT Analysis
11.8.6 Key Developments
11.9 Authentic Brands Group LLC
11.9.1 Key Facts
11.9.2 Business Description
11.9.3 Products and Services
11.9.4 Financial Overview
11.9.5 SWOT Analysis
11.9.6 Key Developments
11.10 Freewill Infrastructures Pvt. Ltd.
11.10.1 Key Facts
11.10.2 Business Description
11.10.3 Products and Services
11.10.4 Financial Overview
11.10.5 SWOT Analysis
11.10.6 Key Developments
12. Appendix
12.1 About Research Team
12.2 Glossary of Terms
LIST OF TABLES
Table 1. Asia Pacific Tennis Racquet Market –Revenue and Forecast to 2030 (US$ Million)
Table 2. Australia Tennis Racquet Market, by End-User– Revenue and Forecast to 2030 (US$ Million)
Table 3. Australia Tennis Racquet Market, by Distribution Channel – Revenue and Forecast to 2030 (US$ Million)
Table 4. China Tennis Racquet Market, by End-User – Revenue and Forecast to 2030 (US$ Million)
Table 5. China Tennis Racquet Market, by Distribution Channel – Revenue and Forecast to 2030 (US$ Million)
Table 6. India Tennis Racquet Market, by End-User – Revenue and Forecast to 2030 (US$ Million)
Table 7. India Tennis Racquet Market, by Distribution Channel – Revenue and Forecast to 2030 (US$ Million)
Table 8. Japan Tennis Racquet Market, by End-User – Revenue and Forecast to 2030 (US$ Million)
Table 9. Japan Tennis Racquet Market, by Distribution Channel – Revenue and Forecast to 2030 (US$ Million)
Table 10. South Korea Tennis Racquet Market, by End-User – Revenue and Forecast to 2030 (US$ Million)
Table 11. South Korea Tennis Racquet Market, by Distribution Channel – Revenue and Forecast to 2030 (US$ Million)
Table 12. Rest of Asia Pacific Tennis Racquet Market, by End-User – Revenue and Forecast to 2030 (US$ Million)
Table 13. Rest of Asia Pacific Tennis Racquet Market, by Distribution Channel – Revenue and Forecast to 2030 (US$ Million)
Table 14. Glossary of Terms, Asia Pacific Tennis Racquet Market
LIST OF FIGURES
Figure 1. Asia Pacific Tennis Racquet Market Segmentation
Figure 2. Asia Pacific Tennis Racquet Market Segmentation – By Country
Figure 3. Asia Pacific Tennis Racquet Market Overview
Figure 4. Asia Pacific Tennis Racquet Market, By Distribution Channel
Figure 5. Asia Pacific Tennis Racquet Market, by Country
Figure 6. PEST Analysis
Figure 7. Expert Opinion
Figure 8. Asia Pacific Tennis Racquet Market Impact Analysis of Drivers and Restraints
Figure 9. Asia Pacific Tennis Racquet Market – Revenue and Forecast to 2030 (US$ Million)
Figure 10. Asia Pacific Tennis Racquet Market Revenue Share, By End-User (2022 and 2030)
Figure 11. Adults: Tennis Racquet Market – Revenue and Forecast to 2030 (US$ Million)
Figure 12. Kids: Asia Pacific Tennis Racquet Market – Revenue and Forecast to 2030 (US$ Million)
Figure 13. Asia Pacific Tennis Racquet Market Revenue Share, By Distribution Channel (2022 and 2030)
Figure 14. Supermarkets and Hypermarkets: Asia Pacific Tennis Racquet Market – Revenue and Forecast to 2030 (US$ Million)
Figure 15. Specialty Stores: Asia Pacific Tennis Racquet Market – Revenue and Forecast to 2030 (US$ Million)
Figure 16. Asia Pacific Online Retail: Tennis Racquet Market – Revenue and Forecast to 2030 (US$ Million)
Figure 17. Others: Asia Pacific Tennis Racquet Market – Revenue and Forecast to 2030 (US$ Million)
Figure 18. Asia Pacific Tennis Racquet Market, by Key Country – Revenue (2022) (US$ Million)
Figure 19. Asia Pacific: Tennis Racquet Market Revenue Share, by Key Country (2022 and 2030)
Figure 20. Australia: Tennis Racquet Market –Revenue and Forecast to 2030 (US$ Million)
Figure 21. China: Tennis Racquet Market –Revenue and Forecast to 2030 (US$ Million)
Figure 22. India: Tennis Racquet Market –Revenue and Forecast to 2030 (US$ Million)
Figure 23. Japan: Tennis Racquet Market –Revenue and Forecast to 2030 (US$ Million)
Figure 24. South Korea: Tennis Racquet Market –Revenue and Forecast to 2030 (US$ Million)
Figure 25. Rest of Asia Pacific: Tennis Racquet Market –Revenue and Forecast to 2030 (US$ Million)
The List of Companies – Asia Pacific Tennis Racquet Market
o Authentic Brand Group LLC
o Babolat
o Freewill Infrastructures Pvt Ltd.
o GAMMA Sports
o HEAD
o Maus Feres SA
o Pacific Holding Gmbh
o Sumitomo Rubber Industries Ltd
o Wilson Sporting Goods
o Yonex Co., Ltd.
You must be logged in to post a review.
Reviews
There are no reviews yet.