tennis racquet Market

The tennis racquet market size 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.

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.

The major driver for the growth of the tennis racquet 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.

In 2023 North America held a significant tennis racquet market share. The US and Canada are the most prominent sports nations, with various sports facilities hosting major sporting events in these countries. Increased awareness about a healthy lifestyle associated with playing tennis is expected to boost the growth of the tennis racquet market during the forecast period. Growing fitness consciousness among all age groups has increased the participation rate of people in sports, which benefits not only the nation's health but also the economy. Additionally, the increased participation of the population in tennis has also been supported due to the increased fondness of tennis as a recreational sport among the youth. According to the United States Tennis Association (USTA), tennis participation in the US grew by 1 million players in 2022, with over 23.6 million people playing the sport for the third consecutive year, and sports participation has increased. In Canada, tennis participation also increased by 1 million players in 2022, according to a report by the Physical Activity Council (PAC) released on March 14, 2023.

Yonex Co., Ltd.; Sumitomo Rubber Industries Ltd.; Head; Babolat; Wilson Sporting Goods; Gamma Sports; Pacific Holding GmbH; Maus Fr?res 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 tennis racquet market report also includes company positioning and concentration to evaluate the performance of competitors/players in the market.

The overall global tennis racquet market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights into the topic. Participants in this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the tennis racquet market.