The Global Badminton Equipment And Products Market size is expected to reach $4.6 billion by 2028, rising at a market growth of 4.9% CAGR during the forecast period
Badminton is a common sport, which is played in either singles or doubles in the tournament, indoor, and outdoor settings. Equipment such as rackets, shuttlecocks, grips, strings, shoes, and netting are necessary for playing badminton.
New York, Feb. 21, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Badminton Equipment And Products Market Size, Share & Industry Trends Analysis Report By Product, By Distribution Channel, By Regional Outlook and Forecast, 2022 - 2028" - https://www.reportlinker.com/p06422701/?utm_source=GNW
They come in a variety of forms and sizes, according to the need.
In this game, each side hits the shuttlecock once against the net before it lands on the ground. The sides are demarcated by the net tied in the middle of the court. The game is known to have many benefits, like improving a player’s lung health, flexibility, and muscle strength. A shuttlecock is a sports object that is used in badminton. A racquet is made up of a handle frame, an open hoop that is stretched tautly, and strings.
Apart from badminton, racquets are used in many sports like racket ball, tennis, and paddle to hit a ball or shuttlecock. Bats and paddles are some other common terms used to describe racquets without networked strings and with solid or perforated hitting surfaces. However, badminton is specifically used to describe the racquets used to play with a shuttlecock. Over the years, badminton’s design has evolved.
COVID-19 Impact Analysis
The badminton products and equipment market was adversely affected by the COVID-19 pandemic. Sales of most consumer products drastically dropped during the period as a result of store closures imposed by lockdown and quarantine procedures. Additionally, the pandemic hampered offline sales of badminton gear and items in numerous nations due to social isolation and other policies encouraging people to stay at home. But the relaxation in the social distancing laws was highly beneficial for the sport as this is essentially a non-contact sport, meaning that there is no physical contact between the participants while the game is being played. It is safer and less physically demanding as a result. As a result, after the restoration of online sales channels, the market grew positively.
Market Growth Factors
Rising number of international and national badminton leagues
The rising presence of more badminton leagues at the district, regional/province, national, and international levels around the world has greatly increased the potential for suppliers of badminton equipment. In addition, people are being encouraged to begin playing badminton by enrolling in any one of the sports groups. Numerous sports clubs provide instruction on badminton racquets by qualified teachers and also increase the awareness of a variety of available equipment options in addition to game practice. Additionally, after the pandemic, the general populace is motivated to make use of their free time and join sports teams. Hence, the increasing participation of people in this sport influenced by the numerous badminton leagues is boosting the growth of the badminton equipment and products market significantly.
Increasing penetration of online distribution channels
The increase in the sales of badminton products and supplies through online channels, especially after the pandemic, is positively influencing the market. Additionally, the growth of the e-commerce sector has created the excellent potential for suppliers and manufacturers in the market. In order to serve end customers all over the world, distributors and manufacturers of badminton equipment are concentrating on selling their goods on e-commerce websites. All these factors are bolstering the expansion of the badminton equipment and products market.
Market Restraining Factors
Low popularity of the sport in many nations
Due to the low popularity of the badminton sport, many aspiring players could have trouble breaking into the spotlight. The market’s expansion is also constrained by the low awareness of the existence of the sport as well as a lack of knowledge regarding the availability of equipment. Additionally, the fluctuating price of badminton equipment like racquets as a result of changes in the cost of raw materials further decreases the popularity of the sport. Moreover, for a number of reasons, badminton is not the preferred sport in many developed or western nations. Another factor contributing to the sport’s stagnation in comparison to other Olympic-winning sports is its lack of success. Therefore, the lack of popularity of the sport is a prominent factor hampering the growth of the badminton equipment and products market.
Based on product, the badminton equipment and products market is categorized into apparel, shoes, racquets, strings, shuttlecocks, and accessories. The racquet segment garnered the highest revenue share in the badminton equipment and products market in 2021. Growing consumer demand for high-quality, material-based racquets fuels the expansion of the segment. Industry participants are also investing in substantial racquet innovation to develop a highly durable and flexible racquet that aids in powerful delivery. In addition, the significant racquet imports into the developed economies also helped in maintaining the market.
Distribution Channel Outlook
On the basis of distribution channel, the badminton equipment and products market is divided into hypermarkets/supermarkets, specialty & sport stores, and others. The specialty and sports stores segment witnessed a significant revenue share in the badminton equipment and products market in 2021. Due to a bigger distribution network and increased product availability, the segment’s growth prospects are expected to be quite favorable, especially as e-commerce platforms gain popularity since most specialty stores have a well-established online presence as well. These elements affect manufacturers’ decisions to sell their goods online.
Based on region, the badminton equipment and products market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America segment procured a remarkable growth rate in the badminton equipment and products market in 2021. The population’s increasing involvement in badminton and the presence of many well-known badminton players are the main factors responsible for the growth of the segment. In addition, the large concentration of players who favor gear and goods with distinctive qualities and brand value has led to an increase in product demand. The market is also expanding as a result of the increased imports of badminton equipment into the United States.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Mizuno Corporation, ASICS Corporation, YONEX Co., Ltd., Li Ning (China) Sports Goods Co., Ltd., Babolat, Apacs Sports (M) Sdn Bhd, FELET International Holdings Sdn. Bhd., VICTOR RACKETS IND.CORP., GOSEN CO., LTD., and Yehlex (UK).
Scope of the Study
Market Segments covered in the Report:
By Distribution Channel
• Specialty & Sports Stores
• North America
o Rest of North America
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of Asia Pacific
o Saudi Arabia
o South Africa
o Rest of LAMEA
• Mizuno Corporation
• ASICS Corporation
• YONEX Co., Ltd.
• Li Ning (China) Sports Goods Co., Ltd.
• Apacs Sports (M) Sdn Bhd
• FELET International Holdings Sdn. Bhd.
• VICTOR RACKETS IND.CORP.
• GOSEN CO., LTD.
• Yehlex (UK)
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