Tennis Racquet Market Report By Insights, Size, and Growth - 2031

In 2023, the tennis racquet market was valued at approximately US$ 481.36 million and is projected to grow to around US$ 708.86 million by 2031, reflecting an anticipated compound annual growth rate (CAGR) of 5.0% during the period from 2023 to 2031.

The tennis racquet industry is experiencing continuous growth, driven by a global fan base and an increasing number of participants. This market is characterized by advancements in technology, innovative materials, and design enhancements. A wide variety of tennis racquets are available, catering to everyone from beginners to elite athletes. These racquets vary in size, weight, and string patterns, enabling players to select the ideal racquet that aligns with their personal preferences and playing styles. Additionally, the demand for tennis racquets tends to peak during the spring and summer months, which are the prime seasons for the sport. The global tennis racquet market is expected to see significant growth by 2031, largely due to the rising trend of using eco-friendly materials in racquet production.

A key factor propelling the tennis racquet market's expansion is the growing popularity of tennis as a leisure activity among both youth and middle-aged individuals. The adult demographic represents a particularly lucrative segment, presenting numerous opportunities for market growth. While online retail serves as a vital distribution channel for tennis racquets, supermarkets and hypermarkets currently dominate the market landscape. However, the online retail sector is emerging as the fastest-growing channel during the forecast period. As more individuals engage in tennis, the market for tennis racquets is poised for further growth. The increasing preference for tennis as a recreational sport is a significant contributor to the expanding market size. Moreover, the heightened emphasis on sustainable materials in racquet manufacturing is also fostering market development.

In 2023, North America accounted for a substantial share of the tennis racquet market. The United States and Canada are recognized as leading sports nations, equipped with numerous sports facilities that host major events. The rising awareness of the health benefits associated with playing tennis is anticipated to further stimulate market growth in the coming years. A growing consciousness about fitness across various age groups has led to higher participation rates in sports, positively impacting both public health and the economy. Additionally, the increasing popularity of tennis as a recreational activity among younger generations has contributed to this trend. According to the United States Tennis Association (USTA), tennis participation in the US rose by 1 million players in 2022, with over 23.6 million individuals engaging in the sport for the third consecutive year. Similarly, in Canada, tennis participation also saw an increase of 1 million players in 2022, as reported by the Physical Activity Council (PAC) on March 14, 2023.

Prominent companies in the tennis racquet market include 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. These key players, along with several others, have been analyzed to provide a comprehensive overview of the market and its ecosystem. The tennis racquet market report also features an assessment of company positioning and market concentration to evaluate the competitive landscape.

The overall size of the global tennis racquet market has been determined through a combination of primary and secondary research methods. The research process commenced with extensive secondary research, utilizing both internal and external sources to gather qualitative and quantitative data relevant to the market. Additionally, numerous primary interviews were conducted with industry stakeholders to validate the findings and gain deeper analytical insights. Participants in these interviews included industry experts such as vice presidents, business development managers, market intelligence managers, and national sales managers, as well as external consultants like valuation experts, research analysts, and key opinion leaders specializing in the tennis racquet sector.