Tennis Racquet Market is expected to reach US$ 708.86 million by 2031

Rising Government Support to Sports Drives Global Tennis Racquet Market Growth

According to the latest market study on “Global Tennis Racquet Market Analysis and Forecast to 2031 – Global Analysis – by End User, Material, Distribution Channel, and Geography," the market was valued at US$ 481.36 million in 2023 and is expected to reach US$ 708.86 million by 2031; it is estimated to register a CAGR of 5.0% from 2023 to 2031. The report highlights key factors fueling the market growth and prominent players along with their developments in the market.

With a global fan base and a growing number of participants, the market of tennis racquets continues to evolve with new technologies, materials, and design innovations. There is a diverse selection range of tennis racquets, ranging from entry-level models for beginners to high-performance racquets for professional players. Racquets come in various sizes, weights, and string patterns, allowing players to find the perfect match for their individual preferences and playing styles. The tennis racquet market also sees seasonal fluctuations, with increased demand during the spring and summer months, when tennis is most commonly played. The global tennis racquet market size is likely to upsurge by 2031 owing to the increasing adoption of eco-friendly material for tennis racquets.

Global Tennis Racquet Market Breakdown – by Region

The major driver for the growth of the market is the increasing preference for tennis as a recreational sport among the youth and middle-aged population. The adults segment is the most attractive segment and creates lucrative opportunities in the market. Although online retail is an essential distribution channel for tennis racquets, the supermarket and hypermarket segment dominates the market. The online retail segment is highly attractive and is expected to be the fastest growing during the forecast period. An increasing participation of people in tennis will offer more opportunities for tennis racquet market growth. Thus, the high preference for tennis as a recreational sport is contributing to the growing tennis racquet market size. Furthermore, the rising focus on the usage of sustainable materials for producing tennis racquets drives the market growth.

One of the major global tennis racquet market trends is new product innovations. The demand for tennis racquet products is surging due to new product innovations by various market players, such as Yonex Co., Ltd and Sumitomo Rubber Industries, Ltd. Yonex 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.

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 among the prominent players profiled in the tennis racquet market report. In addition, several other players have been studied and analyzed during the study to get a holistic view of the market and its ecosystem. The market report also includes company positioning and concentration to evaluate the performance of competitors/players in the market.

The tennis racquet market report aims to provide an overview of the market with detailed market segmentation. The market is segmented on the basis of end user, material, and distribution channel. Based on end user, the market is subsegmented into adults (men and women) and kids. The kids segment accounts for the significant tennis racquet market share. Tennis not only enhances kids' fine motor skills but also helps in hand-to-eye coordination. The physical health benefits of playing a sport are abundant, and tennis is an effective sport to make kids attain a healthier lifestyle. It can help them increase heart rate which would further help in burning calories. Henceforth, many parents are encouraging their kids to play tennis, owing to which the demand for tennis racquets is expected to rise over the forecast period.

The rising government support for tennis is surging the demand for kids' tennis racquets. On March 27, 2023, national charity Personal Health Investment Today (PHIT) America launched a new physical activity and sports program, 'PLAY PICKLEBALL,' in elementary schools. 'PLAY PICKLEBALL' has encouraged sports programs, including 'AMPED Running/Walking,' 'PLAY TENNIS,' and 'PLAY GOLF.'

Based on material, the global tennis racquet market is segmented into graphite, titanium, carbon fiber, and others. Carbon fiber tennis racquets are crafted using advanced carbon fiber composite materials, known for their exceptional strength-to-weight ratio. This allows manufacturers to design racquets with larger sweet spots, enhancing the player's ability to generate power and accuracy on shots. Furthermore, the lightweight nature of carbon fiber enables players to swing faster, resulting in increased racquet head speed and more powerful shots. Additionally, the material's durability ensures longevity, making carbon fiber tennis racquets a preferred choice among professional players and enthusiasts alike. The stiffness of carbon fiber also contributes to improved stability and responsiveness. When a ball impacts the strings, the racquet's stiffness helps distribute the energy evenly across the frame, reducing the amount of vibration that reaches the player's arm. This results in a more comfortable playing experience and can help prevent arm injuries such as tennis elbow.

By distribution channel, the tennis racquet market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others. The specialty stores segment accounts for the significant tennis racquet market share. Specialty stores are retail chains selling a particular product category. These stores are widely preferred distribution channels for sports equipment and accessories, such as tennis racquets, balls, nets, and other tennis-related products, due to an extensive range of products from different brands, attractive deals, discounts, and high-end customer service. Trained staff in stores help customers find the right product. Customers can enjoy a one-stop shopping experience due to the variety of products in one place. These factors are projected to increase the number of specialty stores selling tennis racquets. Large specialty and sports shops such as Dick's Sporting Goods and Yonex offer popular brands of tennis racquets. The easy availability of a wide range of products in specialty shops is also one of the major factors attracting consumers. These stores provide consumers with the required information and support through skilled customer service personnel. Additionally, the rise in the number of internet users, fast-paced lifestyle, ease of access, convenience of shopping, 24/7 availability, and an extensive range of options to choose from various categories are the factors driving the online retail segment. Discounts and offers on products, discussion portals, different promotion strategies, and payment options are also projected to propel the online retail segment during the forecast period. Consumers can save money while purchasing products online within their budget range without compromising on content, brand, and quality, making online stores a popular distribution channel. The trust of consumers plays a vital role in determining the demand for a specific product.

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