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Racket Sports Products Market Trends

Report ID: GMI11640
Published Date: Oct 2024
Report Format: PDF

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Racket Sports Products Market Trends

Innovations in racket design, particularly through the use of advanced materials like graphene and carbon fiber, are transforming the performance of modern rackets. These materials make rackets lighter, yet more durable and stable, allowing players to generate more power and control with less effort. This technological advancement not only enhances player performance but also reduces strain on the body, making racket sports more accessible and enjoyable for players of all levels. These high-performing rackets are increasingly popular among both professionals and recreational players, driving demand in the market.

Authors: Avinash Singh, Avinash Singh

Frequently Asked Questions (FAQ) :

In 2023, the global racket sports products industry was valued at USD 4.5 billion and is projected to grow at a CAGR of 6% from 2024 to 2032.

The balls segment led the market in 2023, generating a revenue of USD 1.7 billion. It is expected to grow at a CAGR of 6.2% during the forecast period, driven by consistent demand across various sports and the need for frequent replacement due to wear and tear.

North America's market, valued at approximately USD 1.3 billion in 2023, is expected to grow at a CAGR of 6.3% during the forecast period. Factors such as major global sporting events, extensive youth participation programs, investments in sports infrastructure, established retail networks, and celebrity endorsements contribute to this growth.

Major players in the market include Apacs Sports (M) Sdn. Bhd., ASICS Corporation, Babolat, FELET International Holdings Sdn. Bhd., Gosen Co., Ltd., Head Sports, Karakal Sports, Li Ning (China) Sports Goods Co., Ltd., Mizuno Corporation, Prince Sports, Inc., Tecnifibre, Victor Rackets Ind. Corp., Wilson Sporting Goods Co., Yehlex, and Yonex Co., Ltd.