Report : Asia Pacific Tennis Racquet Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By End User (Adults and Kids) and Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Retail, and Others)
Specialty Stores Segment to Dominate APAC Tennis Racquet Market during 2021–2028
According to The Insight Partners market research study on “APAC Tennis Racquet Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by End User and Distribution Channel” is expected to reach US$ 120.70 million by 2028 from US$ 98.48 million in 2021. The market is estimated to grow at a CAGR of 2.9% from 2021 to 2028. The report provides trends prevailing in the APAC tennis racquet market along with the drivers and restraints pertaining to the market growth. Untapped markets is the major factor driving the growth of the APAC tennis racquet market. However, issues associated with the health risk from tennis hinder the growth of APAC tennis racquet market.
The APAC tennis racquet market is segmented on the basis of end user, distribution channel, and country. By end user, the APAC tennis racquet market is bifurcated into adults and kids. The adults segment dominated the market in 2020 and is expected to be the fastest growing during the forecast period. On the basis of distribution channel, the tennis racquet market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others. The specialty segment dominated the market and online retail segment is expected to be the fastest growing during the forecast period. In terms of country, the APAC tennis racquet market is segmented into—Australia, China, India, Japan, South Korea, and Rest of APAC.
The Asian economies have been hit hard due to the pandemic. India recorded the highest number of cases, and the emergence of new COVID-19 waves in India, Thailand, and other Asian economies has prolonged the effect of pandemic upon the consumer goods industry. Tennis is actually one of the sports that's coming out of a pandemic stronger than ever, which in turn will have a strong impact on tennis racquets market in Asia Pacific region.
Amer Sports; Authentic Brands Group LLC; Babolat; Freewill Infrastructures Pvt. Ltd.; GAMMA Sports; HEAD; Maus Frères SA; PACIFIC Holding GmbH; Sumitomo Rubber Industries, Ltd.; and YONEX Co., Ltd. are the leading companies in the APAC tennis racquet market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, Yonex Co., Ltd. has launched the new VCORE PRO tennis racquet. The company has developed this product for players who are looking to gain control over all aspects of ball movement.