It is estimated for the global badminton racquets market to witness a growth at a massive CAGR of 6.9% during the forecast period of 2022 to 2030.
The market witnessed the growth at a healthy CAGR even during the previous forecast period. Rising awareness towards the sport and conducting of increased number of badminton events to drive the growth of the market during the forecast period.
Conducting an increased number of badminton events around the globe is estimated to boost the growth of the market during the forecast period.
Also, rising sporting awareness around the globe especially in the developing economies of the countries of the Asia Pacific region is boosting the growth of the market during the forecast period.
COVID-19’S EFFECT ON THE BADMINTON RACKETS MARKET
COVID-19 started in Wuhan (China) in December 2019 and has since quickly expanded throughout the world. In terms of confirmed cases and reported deaths, the US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are among of the nations that have been most severely impacted.
One of the biggest sectors affected by the pandemic is the consumer goods sector, which has seen supply chain problems, postponed technology events, and closed offices. The global supply chain has been harmed by the closure of numerous facilities and factories in important regions like North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
This has had a severe influence on the production, delivery schedules, and sales of various items. . Additionally, a number of businesses have already hinted at potential delays in product deliveries and a decline in future sales of their goods.
Key Market Trends
Apart from this, the rise in social media platforms has also been creating awareness about the sport thus leading to people learning and adapting to the sport in an increased manner. This factor is estimated to boost the growth of the market during the forecast period.
The market witnessed growth at a healthy CAGR even during the previous forecast period. Rising awareness of the sport and conducting an increased number of badminton events to drive the growth of the market during the forecast period.
The increasing number of youngsters are taking part in different sports all around the globe and this awareness of the youngsters towards the world of sports is also one of the major factors to boost the growth of the market.
However, the expensive infrastructure that is required for the playing of this indoor game is likely to hamper the growth of the market during the forecast period. However government investments, sportsmen starting their sporting clubs and the rising disposable income of the people are estimated to drive the market during the forecast period.
Segmental Analysis of the Market
By Product Type
• Carbon
• Carbon Alloy
• Others
It is estimated for the carbon alloy category to drive the growth of the market during the forecast period.
By End Use Type
• Men
• Women
It is estimated for the men category to drive the growth of the market during the forecast period.
Asia Pacific region to drive the growth of the market during the forecast period
Owing to the major badminton playing countries like China, India and Japan it is estimated for the Asia Pacific region to drive the growth of the market during the forecast period. The other regions for the market include North America, Europe and MEA. The region of Europe is estimated to follow the growth track of Asia Pacific region during the forecast period.
Competitive Landscape
Some of the prominent companies operating in the market are
• VICTOR
• Apacs Sports
• Yonex
• RSL
• KAWASAKI
• Babolat
• Silver Sports India
• Carlton Sports
• Lining
• COSCO India Ltd.
• GOSEN
• Wilson Sporting Goods
Frequently Asked Questions
• What is the growth rate of the global badminton racquets market?
• What are the primary growth determinants of the market?
• Which are the major regions constituting the geographical landscape of the market?
• Which are the prominent companies operating in the market?
