However, the tennis segment is expected to show the fastest CAGR of 5.4% from 2022 to 2031. Badminton training is also more intensive and is sometimes even supported by sports science. This is due to technological advances in badminton rackets, shoes and shuttlecocks. The badminton segment is set to dominate the market during the forecast periodīased on application, the badminton segment was the largest market with more than two-fifths of the global racquet sports equipment market share in 2021 and is expected to witness significant growth during the forecast period. The bracelet market is driven by innovation, and key competitors are developing merchandise with enhanced features that are attracting a sizable consumer base to smart bracelets. The accessories segment is expected to register the fastest CAGR of 6.2% from 2022 to 2031. Increased youth participation in various racquet tournaments, an increase in the number of tennis players around the world, the proliferation of tennis competitions, the short tennis ball replacement cycle that often requires the purchase of new balls, and the introduction of a variety of slower balls and smaller courts are fueling the global tennis ball market. The balls segment will hold the lion’s share during the forecast periodīased on product type, the balls segment contributed the highest market share in 2021, capturing more than a quarter of the global racquet equipment market and is expected to maintain remarkable growth during the forecast period.
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On the other hand, major brands entering markets with lack of availability of sports facilities and products, construction of sports facilities, sports centers and playgrounds by key players, donation of sports equipment, construction of sports facilities, holding free cost sports competitions and providing free training to potential athletes by various organizations and NGOs and growing youth interest in sports are expected to present potential opportunities for market growth in the coming years. However, increasing penetration of the internet, smartphones, computers and other electronic media and entertainment devices, leading to increasing youth participation in indoor activities, is hampering market growth. The growing popularity of table tennis and the increase in participation in the game worldwide, the rising awareness of fitness, sporting activities and exercise among people due to the increase in physical education and sports training among academics, and the increase in sports initiatives by governments in emerging markets are driving this growth of the global racquet equipment market.
The report provides a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscapes, and competitive scenarios. , Aug/PRNewswire/ - Allied Market Research released a report entitled “Racket Sports Equipment Market by Product Type (Rackets, Balls, Eyewear, Racket Bags, Accessories), by End-User (Men, Women, Kids), by Application (Badminton, Racquetball, Squash, Tennis), by Distribution Channel (Hypermarket, Specialty Stores, E-Commerce, others): Global Opportunity Analysis and Industry Forecast, 2022-2031.” According to the report, the global racquet sports equipment industry generated $176.80 million in 2021 and is expected to be achieved $272.40 million by 2031, representing a CAGR of 4.3% from 2022 to 2031.
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