The global Tennis market size was valued at USD 30.24 billion in 2023 and is projected to expand at a compound annual growth rate (CAGR) of 4.8% during the forecast period, reaching a value of USD 52.24 billion by 2030.
Tennis market research report by Future Data Stats, offers a comprehensive view of the market's historical data from 2018 to 2021, capturing trends, growth patterns, and key drivers. It establishes 2022 as the base year, analyzing the market landscape, consumer behavior, competition, and regulations. Additionally, the report presents a well-researched forecast period from 2023 to 2030, leveraging data analysis techniques to project the market's growth trajectory, emerging opportunities, and anticipated challenges.
MARKET OVERVIEW:
Tennis is a dynamic racquet sport played between two or four players, either in singles or doubles. The game involves players hitting a ball back and forth over a net, aiming to score points by strategically placing the ball within the boundaries of the opponent's court. The objective is to outmaneuver the opponent, utilizing a combination of powerful serves, volleys, and well-placed groundstrokes. Tennis is renowned for its emphasis on skill, agility, and mental acuity, requiring players to adapt to various playing surfaces such as clay, grass, and hard courts.
Beyond its competitive nature, tennis has evolved into a widely popular recreational activity enjoyed by people of all ages. It promotes physical fitness, enhances cardiovascular health, and fosters social interaction. Tennis tournaments, both at the amateur and professional levels, draw substantial global attention, with iconic events like Grand Slam tournaments showcasing top-tier athletes. The sport's versatility, accessibility, and rich history contribute to its enduring appeal, making tennis a celebrated and cherished activity worldwide.
MARKET DYNAMICS:
A key driver propelling the market forward is the increasing popularity of tennis as a global sport. The rising participation levels, both at the amateur and professional levels, contribute to the growth of the tennis market. Additionally, the sport's widespread appeal among diverse age groups and the continuous efforts to make tennis more accessible drive equipment sales, tournament viewership, and overall market expansion.
However, the tennis market faces certain restraints, with one significant factor being the perception of tennis as a sport with high initial costs. Acquiring quality tennis equipment, including rackets, balls, and appropriate apparel, can be perceived as expensive, limiting entry for some potential participants. Furthermore, the market contends with competition from other recreational activities and sports, posing a challenge to sustained growth. Nevertheless, opportunities arise through initiatives to promote inclusivity, affordability, and grassroots development programs, aiming to break down barriers and attract a broader audience to the sport.
TENNIS MARKET SEGMENTAL ANALYSIS
BY TYPE:
Professional tennis stands out as a dominant factor, attracting global attention through high-profile tournaments like Grand Slam events. The market for professional tennis is propelled by the immense popularity of top-tier athletes, captivating matches, and substantial media coverage. Sponsorships, merchandise sales, and broadcasting rights contribute significantly to the economic aspects of the professional tennis market, creating a thriving ecosystem around major competitions.
In contrast, amateur tennis forms a substantial segment within the market, representing enthusiasts who engage in the sport for recreational purposes and community engagement. The amateur tennis market is characterized by grassroots participation, local tournaments, and tennis clubs fostering a sense of camaraderie among players. The demand for amateur tennis equipment, including rackets, balls, and sportswear, contributes to the overall growth of the market. Moreover, the rise of social tennis leagues and fitness-focused tennis programs enhances the accessibility of the sport, further driving the market for amateur tennis.
Both professional and amateur tennis share common factors influencing the overall market, such as the development of innovative equipment, the promotion of tennis as a healthy lifestyle choice, and efforts to expand tennis infrastructure globally.
BY SURFACE TYPE:
Clay court tennis holds a prominent position, particularly in European tournaments like the French Open. The market for clay court tennis benefits from the slower pace of play on this surface, emphasizing endurance, sliding movements, and strategic play. Equipment designed for clay courts, including specialized footwear, contributes to the overall market as players seek gear tailored to the demands of this unique playing surface.
Grass court tennis, notably associated with prestigious events like Wimbledon, offers a contrasting experience. The market for grass court tennis revolves around the surface's faster playing conditions, favoring serve-and-volley styles and swift movements. This prompts players to seek equipment that enhances precision and agility, influencing the market with a demand for grass court-specific gear. The historical significance and grandeur of grass court tournaments contribute to the market's appeal, attracting attention from both players and tennis enthusiasts.
Hard court tennis, characterized by surfaces like acrylic or asphalt, represents a dominant factor in the market due to its versatility and widespread use. Many major tournaments, including the US Open and the Australian Open, are played on hard courts.
BY EQUIPMENT:
Tennis rackets stand out as a primary factor, influencing the market with innovations in materials, design, and technology. Advancements in racket technology, including frame construction and string patterns, contribute to players seeking high-performance equipment, creating a competitive market for tennis rackets.
Tennis balls form another essential component, driving the market with a focus on durability, visibility, and performance. Manufacturers continually strive to develop tennis balls that meet international standards and enhance the playing experience across various court surfaces. The demand for quality tennis balls is integral to both professional tournaments and recreational play, shaping the market with a need for consistent quality and performance.
Tennis shoes, designed for the specific movements and stresses of the sport, represent a dominant factor in the market. The emphasis on comfort, stability, and traction drives the market for tennis footwear. Brands compete to offer players cutting-edge shoe technologies, including cushioning systems and specialized outsoles, influencing purchasing decisions in the highly competitive market for tennis shoes.
BY END USER:
Men's tennis stands as a significant force in the market, characterized by professional tournaments featuring male athletes and a robust consumer market for men's tennis equipment and apparel. The market for men's tennis is driven by the global popularity of male tennis stars, creating a demand for high-quality gear and merchandise tailored to male players' needs.
Similarly, women's tennis represents a dominant factor in the market, marked by high-profile tournaments showcasing female athletes and a thriving consumer market for women's tennis products. The market for women's tennis equipment and apparel is influenced by the international success of female players, fostering a demand for innovative and stylish gear. The market caters to the preferences and requirements of female players, encompassing a wide range of tennis-related products designed specifically for women.
Junior tennis, focusing on the younger demographic, plays a crucial role in shaping the tennis market's dynamics. The market for junior tennis equipment, coaching programs, and tournaments reflects efforts to nurture talent at a grassroots level. Organizations and brands invest in promoting junior tennis, contributing to the overall growth of the sport by cultivating a new generation of players.
BY DISTRIBUTION CHANNEL:
Online retail emerges as a dominant force, driven by the convenience and accessibility it offers to consumers. The growth of e-commerce platforms provides tennis enthusiasts with a wide range of choices, allowing them to browse and purchase equipment, apparel, and accessories from the comfort of their homes. The online retail segment in the tennis market is characterized by the ease of comparison, customer reviews, and the availability of diverse brands and products, contributing significantly to the industry's overall sales.
Offline retail, including specialty sports stores and tennis pro shops, maintains its significance in the tennis market. These physical retail outlets provide a hands-on shopping experience, allowing customers to try out equipment, feel the texture of apparel, and receive personalized advice from knowledgeable staff. Offline retail contributes to the immediate gratification of purchasing tennis gear, particularly for players who prefer a tangible and in-person shopping experience. Moreover, these brick-and-mortar stores play a crucial role in fostering a sense of community and engagement among local tennis enthusiasts.
The dynamics between online and offline retail channels highlight the diverse preferences of tennis consumers. While online retail continues to witness significant growth, offline retail remains an essential component, catering to those who value the tactile and interactive aspects of shopping for tennis equipment.
REGIONAL ANALYSIS:
In North America, tennis enjoys widespread popularity, driven by a robust infrastructure of tennis facilities, active participation in the sport, and the hosting of prestigious tournaments. The region boasts a strong consumer market for tennis equipment and apparel, with a keen interest in both professional and amateur play. Additionally, initiatives promoting tennis at the grassroots level contribute to the overall growth of the market in North America.
Europe stands as another powerhouse in the tennis market, marked by a rich tennis history, iconic tournaments, and a fervent fan base. The continent hosts several Grand Slam events and boasts a strong professional tennis circuit. The market in Europe is influenced by the region's emphasis on tennis as both a competitive sport and a recreational activity, with tennis clubs and facilities widespread. The cultural significance of tennis in Europe, coupled with a continuous influx of talent and innovation, positions the region as a major contributor to the global tennis market.
In Asia Pacific, the tennis market experiences dynamic growth, driven by a rising interest in the sport, increasing investments in tennis infrastructure, and a growing number of regional tournaments. The region's market is characterized by a blend of traditional tennis markets and emerging economies, reflecting a diverse consumer base with varied preferences.
COVID-19 IMPACT:
The widespread lockdowns and restrictions led to the temporary suspension of professional tennis tournaments, disrupting the traditional tennis calendar. This hiatus affected the revenue streams associated with live events, including ticket sales, sponsorships, and broadcasting rights. However, the pandemic also accelerated the adoption of digital platforms and virtual experiences, enabling tennis enthusiasts to engage with the sport remotely through virtual tournaments, online coaching, and e-commerce for tennis equipment.
The closure of tennis facilities and restrictions on social gatherings affected grassroots participation and local tennis communities. However, the pandemic sparked a renewed interest in outdoor activities and individual sports, positioning tennis as a viable option for physical exercise while adhering to social distancing guidelines. The increased emphasis on health and well-being during the pandemic contributed to a surge in demand for tennis equipment, home training tools, and online coaching services.
INDUSTRY ANALYSIS:
Mergers & Acquisitions:
- November 2022: Wilson Sporting Goods Company acquires Louisville Slugger and Hillerich & Bradsby Company (H&B) for $1.2 billion, expanding its reach into baseball and softball equipment.
- October 2022: Head Racquetsports International is acquired by private equity firm KPS Capital Partners for an undisclosed amount.
- August 2022: Babolat acquires Prince Tennis for an undisclosed amount, consolidating its position in the racquet market.
- April 2022: Yonex acquires racquet manufacturer Dunlop Sports Group for $475 million, aiming to strengthen its presence in Europe and North America.
Product New Launches:
- January 2024: Babolat launches the Aero G, a new racquet line featuring an aerodynamic design for increased power and spin.
- December 2023: Wilson introduces the Clash V14 series, featuring an updated construction and improved feel.
- October 2023: Head unveils the Gravity Next Gen range, offering lighter options for junior and recreational players.
- September 2023: Tecnifibre releases the TF-X1 series, focusing on enhanced stability and comfort.
- August 2023: Yonex debuts the EZONE GT series, emphasizing forgiveness and maneuverability.
KEY MARKET PLAYERS:
- Wilson Sporting Goods
- Babolat
- HEAD
- Prince Global Sports
- Yonex Corporation
- Dunlop Sport
- Tecnifibre
- Adidas AG
- Nike, Inc.
- ASICS Corporation
- New Balance Athletics, Inc.
- Under Armour, Inc.
- Fila, Inc.
- Lotto Sport Italia
- K-Swiss
- Volkl Tennis
- Pacific Holdings, Inc.
- ProKennex
- Gamma Sports
- Solinco
- Diadem Sports
- Luxilon
- Slinger Bag
- Tretorn
- Penn Tennis Balls
Table of Contents
Introduction
Executive Summary
Market Overview
Market Dynamics
Drivers
Restraints
Opportunities
Tennis Market Segmentation
By Type
By Surface Type
By Equipment
By End User
By Distribution Channel
By Region
Competitive Landscape
Key Players
Market Share Analysis
Industry Trends and Advancements
Future Outlook
Conclusion
Tennis Market Segmentation
By Type:
- Professional Tennis
- Amateur Tennis
By Surface Type:
- Clay Court
- Grass Court
- Hard Court
By Equipment:
- Tennis Rackets
- Tennis Balls
- Tennis Shoes
- Tennis Bags
- Tennis Strings
By End User:
- Men's Tennis
- Women's Tennis
- Junior Tennis
By Distribution Channel:
- Online Retail
- Offline Retail
By Geography:
- North America (USA, Canada, Mexico)
- Europe (Germany, UK, France, Russia, Italy, Rest of Europe)
- Asia-Pacific (China, Japan, South Korea, India, Southeast Asia, Rest of Asia-Pacific)
- South America (Brazil, Argentina, Columbia, Rest of South America)
- Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, South Africa, Rest of MEA)
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RESEARCH METHODOLOGY
With a collective industry experience of about 70 years of analysts and experts, Future Data Stats encompasses the most infallible research methodology for its market intelligence and industry analysis. Not only does the company dig deep into the innermost levels of the market, but also examines the minutest details for its market estimates and forecasts.
This approach helps build a greater market-specific view of size, shape, and industry trends within each industry segment. Various industry trends and real-time developments are factored into identifying key growth factors and the future course of the market. The research proceeds are the results of high-quality data, expert views & analysis, and valuable independent opinions. The research process is designed to deliver a balanced view of the global markets and allows stakeholders to make informed decisions, to attain their highest growth objectives.
Future Data Stats offers its clients exhaustive research and analysis, based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models distill the data & statistics and enhance the accuracy of our recommendations and advice.
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With this strong methodology, Future Data Stats ensures that its research and analysis is most reliable and guarantees sound business planning.
The research methodology of the global market involves extensive primary and secondary research. Primary research includes about 24 hours of interviews and discussions with a wide range of stakeholders that include upstream and downstream participants. Primary research typically is a bulk of our research efforts, coherently supported by extensive secondary research. Over 3000 product literature, industry releases, annual reports, and other such documents of key industry participants have been reviewed to obtain a better market understanding and gain enhanced competitive intelligence. In addition, authentic industry journals, trade associations’ releases, and government websites have also been reviewed to generate high-value industry insights.
Primary Research:
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Primary Research
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Desk Research
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Company Analysis
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• Identify key opinion leaders • Questionnaire design • In-depth Interviews • Coverage across the value chain
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• Company Website • Company Annual Reports • Paid Databases • Financial Reports
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• Market Participants • Key Strengths • Product Portfolio • Mapping as per Value Chain • Key focus segment
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Primary research efforts include reaching out to participants through emails, telephonic conversations, referrals, and professional corporate relations with various companies that make way for greater flexibility in reaching out to industry participants and commentators for interviews and discussions.
The aforementioned helps to:
- Validate and improve data quality and strengthen the research proceeds
- Develop a market understanding and expertise
- Supply authentic information about the market size, share, growth, and forecasts
The primary research interview and discussion panels comprise experienced industry personnel.
These participants include, but are not limited to:
- Chief executives and VPs of leading corporations specific to an industry
- Product and sales managers or country heads; channel partners & top-level distributors; banking, investments, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research:
A broad array of industry sources for the secondary research typically includes, but is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for a competitive scenario and shape of the industry
- Patent and regulatory databases to understand technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles, web-casts, and other related releases to evaluate the market
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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PRIMARY SOURCES |
DATA SOURCES |
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• Top executives of end-use industries • C-level executives of the leading Parenteral Nutrition companies • Sales manager and regional sales manager of the Parenteral Nutrition companies • Industry Consultants • Distributors/Suppliers
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• Annual Reports • Presentations • Company Websites • Press Releases • News Articles • Government Agencies’ Publications • Industry Publications • Paid Databases
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Analyst Tools and Models:
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BOTTOM-UP APPROACH |
TOP-DOWN APPROACH |
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· Arriving at · Arriving at · Market Share · Key Market Players |
· Key Market Players · Market Share · Arriving at · Arriving at |
Tennis Market Dynamic Factors
Drivers:
- Growing global popularity of tennis as a sport.
- Rise in participation levels, both professionally and recreationally.
- Technological advancements in tennis equipment.
- Increasing investments in tennis infrastructure.
Restraints:
- Perception of tennis as a sport with high initial costs.
- Intense competition from other recreational activities.
- Challenges in attracting and retaining new players.
- Economic impacts affecting consumer spending on tennis-related products.
Opportunities:
- Surge in demand for online retail channels for tennis equipment.
- Innovation in smart tennis equipment and training technologies.
- Focus on sustainable and eco-friendly tennis products.
- Growing market for specialized tennis gear, catering to diverse player needs.
Challenges:
- Balancing affordability with high-performance features in tennis equipment.
- Addressing global supply chain disruptions affecting product availability.
- Adapting to rapidly changing fashion trends in tennis apparel.
- Ensuring widespread awareness of the sport and its health benefits.
Frequently Asked Questions
