World - Tennis, Badminton Or Similar Rackets - Market Analysis, Forecast, Size, Trends And Insights
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The article discusses the projected decline in the tennis and badminton rackets market over the period from 2022 to 2030, with anticipated decreases in market volume and value. Key findings include the consumption, production, imports, and exports trends of tennis and badminton rackets globally. The analysis covers the major consuming and producing countries, as well as the pricing and growth rates in the market over the past decade.
Market Forecast
The tennis and badminton rackets market is expected to start a downward consumption trend over the next eight years. The performance of the market is forecast to decrease slightly, with an anticipated CAGR of -0.0% for the eight-year period from 2022 to 2030, which is projected to depress the market volume to 110M units by the end of 2030.
In value terms, the market is forecast to contract with an anticipated CAGR of +1.7% for the period from 2022 to 2030, which is projected to bring the market value to $1.1B (in nominal prices) by the end of 2030.
Consumption
World Consumption of Tennis, Badminton Or Similar Rackets
In 2022, global tennis and badminton rackets consumption stood at 110M units, with an increase of 9.6% on 2021 figures. Overall, consumption saw a moderate expansion. Over the period under review, global consumption attained the peak volume at 155M units in 2016; however, from 2017 to 2022, consumption remained at a lower figure.
The global tennis and badminton rackets market size skyrocketed to $976M in 2022, increasing by 17% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, saw a noticeable slump. Over the period under review, the global market attained the maximum level at $1.9B in 2016; however, from 2017 to 2022, consumption failed to regain momentum.
Consumption By Country
The countries with the highest volumes of consumption in 2022 were India (30M units), the United States (20M units) and China (6.3M units), together accounting for 51% of global consumption.
From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +20.4%), while consumption for the other global leaders experienced more modest paces of growth.
In value terms, the United States ($131M), Japan ($103M) and China ($78M) constituted the countries with the highest levels of market value in 2022, together comprising 32% of the global market. Taiwan (Chinese), France, Spain, India, Malaysia, Canada, Chile, the United Arab Emirates, Russia and Thailand lagged somewhat behind, together accounting for a further 30%.
In terms of the main consuming countries, Chile, with a CAGR of +18.9%, saw the highest growth rate of market size over the period under review, while market for the other global leaders experienced more modest paces of growth.
The countries with the highest levels of tennis and badminton rackets per capita consumption in 2022 were Taiwan (Chinese) (193 units per 1000 persons), the United Arab Emirates (191 units per 1000 persons) and Malaysia (133 units per 1000 persons).
From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by Chile (with a CAGR of +19.1%), while consumption for the other global leaders experienced more modest paces of growth.
Production
World Production of Tennis, Badminton Or Similar Rackets
In 2022, production of tennis, badminton or similar rackets increased by 4.1% to 135M units, rising for the third consecutive year after three years of decline. Overall, production recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the production volume increased by 8%. As a result, production reached the peak volume of 146M units. From 2017 to 2022, global production growth remained at a somewhat lower figure.
In value terms, tennis and badminton rackets production stood at $750M in 2022 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of 28% against the previous year. As a result, production attained the peak level of $1.3B. From 2017 to 2022, global production growth failed to regain momentum.
Production By Country
The country with the largest volume of tennis and badminton rackets production was China (114M units), comprising approx. 84% of total volume. Moreover, tennis and badminton rackets production in China exceeded the figures recorded by the second-largest producer, Japan (7.4M units), more than tenfold. The third position in this ranking was taken by Taiwan (Chinese) (5.1M units), with a 3.8% share.
In China, tennis and badminton rackets production remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Japan (+14.1% per year) and Taiwan (Chinese) (+0.2% per year).
Imports
World Imports of Tennis, Badminton Or Similar Rackets
In 2022, supplies from abroad of tennis, badminton or similar rackets increased by 8.9% to 117M units, rising for the sixth consecutive year after two years of decline. Overall, imports saw prominent growth. The pace of growth appeared the most rapid in 2021 when imports increased by 46%. Global imports peaked in 2022 and are expected to retain growth in the near future.
In value terms, tennis and badminton rackets imports surged to $1.1B in 2022. In general, total imports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +81.6% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 49% against the previous year. Global imports peaked in 2022 and are expected to retain growth in the immediate term.
Imports By Country
India (30M units) and the United States (20M units) represented the major importers of tennis, badminton or similar rackets in 2022, resulting at approx. 26% and 17% of total imports, respectively. It was distantly followed by China (6.9M units), mixing up a 5.9% share of total imports. The following importers - Spain (4.6M units), Malaysia (4.6M units), France (3.8M units), Hong Kong SAR (3M units), Germany (2.9M units), the United Arab Emirates (2.7M units), the Netherlands (2.6M units), Chile (2.4M units), Thailand (2.2M units) and Russia (2.2M units) - together made up 26% of total imports.
From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by China (with a CAGR of +25.7%), while imports for the other global leaders experienced more modest paces of growth.
In value terms, the United States ($129M), Spain ($116M) and France ($93M) appeared to be the countries with the highest levels of imports in 2022, with a combined 30% share of global imports. Germany, China, the Netherlands, Malaysia, Hong Kong SAR, India, Chile, the United Arab Emirates, Thailand and Russia lagged somewhat behind, together accounting for a further 29%.
In terms of the main importing countries, Chile, with a CAGR of +17.7%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.
Import Prices By Country
In 2022, the average tennis and badminton rackets import price amounted to $9.6 per unit, picking up by 12% against the previous year. In general, the import price, however, continues to indicate a slight curtailment. The growth pace was the most rapid in 2016 when the average import price increased by 19%. As a result, import price reached the peak level of $11 per unit. From 2017 to 2022, the average import prices failed to regain momentum.
Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Germany ($27 per unit), while India ($0.9 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+5.9%), while the other global leaders experienced more modest paces of growth.
Exports
World Exports of Tennis, Badminton Or Similar Rackets
In 2022, overseas shipments of tennis, badminton or similar rackets increased by 3.8% to 143M units, rising for the second consecutive year after two years of decline. Overall, exports enjoyed a measured increase. The pace of growth was the most pronounced in 2018 with an increase of 103%. The global exports peaked in 2022 and are expected to retain growth in the immediate term.
In value terms, tennis and badminton rackets exports skyrocketed to $1.2B in 2022. Over the period under review, total exports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +93.5% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 55% against the previous year. The global exports peaked in 2022 and are expected to retain growth in the near future.
Exports By Country
China dominates exports structure, recording 115M units, which was near 80% of total exports in 2022. Hong Kong SAR (4.6M units), Japan (3.1M units), Pakistan (2.7M units), Spain (2.5M units) and the Netherlands (2.4M units) followed a long way behind the leaders.
From 2012 to 2022, average annual rates of growth with regard to tennis and badminton rackets exports from China stood at +4.7%. At the same time, Spain (+36.5%), Pakistan (+27.3%), the Netherlands (+13.0%) and Japan (+11.8%) displayed positive paces of growth. Moreover, Spain emerged as the fastest-growing exporter exported in the world, with a CAGR of +36.5% from 2012-2022. By contrast, Hong Kong SAR (-8.7%) illustrated a downward trend over the same period. While the share of China (+8.4 p.p.), Pakistan (+1.7 p.p.) and Spain (+1.6 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of Hong Kong SAR (-8.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, China ($560M) remains the largest tennis and badminton rackets supplier worldwide, comprising 49% of global exports. The second position in the ranking was taken by Japan ($60M), with a 5.2% share of global exports. It was followed by Spain, with a 4.9% share.
In China, tennis and badminton rackets exports increased at an average annual rate of +5.4% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (+6.8% per year) and Spain (+41.9% per year).
Export Prices By Country
The average tennis and badminton rackets export price stood at $8.1 per unit in 2022, with an increase of 16% against the previous year. Overall, the export price showed a modest expansion. The most prominent rate of growth was recorded in 2015 when the average export price increased by 90% against the previous year. Over the period under review, the average export prices attained the peak figure at $13 per unit in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Spain ($23 per unit), while China ($4.9 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Pakistan (+6.6%), while the other global leaders experienced more modest paces of growth.
This report provides an in-depth analysis of the global market for tennis and badminton rackets. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 32301560 - Tennis, badminton or similar rackets, whether or not strung
Country coverage:
Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:
- USA
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
+ the largest producing countries
Data coverage:
- Global market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Global production, split by region and country
- Global trade (exports and imports)
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- CONSUMPTION BY COUNTRY
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. GLOBAL PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
- PRODUCTION BY COUNTRY
8. GLOBAL IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. GLOBAL EXPORTS
The Largest Exporters on The Market and How They Succeed
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
11. COUNTRY PROFILES
The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO- United States
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
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LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption, By Country, 2018–2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Destination, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Origin, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Consumption, By Country, 2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Production, By Country, 2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, 2012–2023
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