Analysis of Pickleball Equipment market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
The global pickleball equipment market is on track to witness mounting growth over the coming years, as a result of increasing popularity of pickleball in Europe and the emergence of new market opportunities in the Asia Pacific region.
The pickleball equipment market is more consolidated in Europe and North America due to the high number of players in these regions. This market is primarily driven by trends in the sports industry, increasing number of pickleball clubs, and rising number of professional players.
However, the media does not play any role with respect to pickleball games and tournaments. These has resulted in limited popularity of pickleball in Asia Pacific and the Middle East & Africa. Most individuals are seen to be indulging in pickleball as a recreational hobby or a modern sport for fitness. Increasing adoption of digital platforms for ensuring global presence and regional availability has provided a boost to the expansion of the pickleball equipment market size.
Furthermore, IFP (International Federation of Pickleball) aims at pushing the pickleball sport in the Olympics. This could prove to be an immensely advantageous factor for the growth of the sport, as the Olympics is a world-renowned sports event. These aforementioned factors would facilitate the growth opportunity for the pickleball equipment market, which is projected to rise at a CAGR of 9% in terms of value over the forecast period (2020-2030).
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Pickleball is seen as one of the fastest-growing sport in recent years. According to the Sports & Fitness Industry Association’s (SFIA) 2018 pickleball participant report, pickleball currently has 2.92 million players in the U.S. alone.
Paddles used in pickleball are expected to account for nearly two-third of the pickleball equipment market share with respect to value, and 20% with respect to volume. Furthermore, market for pickleballs is expected to creating a value opportunity of US$ 120 Mn over the forecast period.
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The choice of purchasing pickleball equipment through diversified retail channels is creating new growth avenues for pickleball equipment market companies. Availability of leading pickleball equipment brands across e-Commerce platforms has been of particular significance. This is not only catering to demand in developing countries from tier-I and tier-II cities but has also penetrated new demographics. Independent sports outlets for selling pickleball equipment are set to expand at an impressive CAGR of 9.5% from 2020-2030.
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Individual buyers for pickleball equipment are expected to account for more than half of the market share by 2030-end. With increasing number of regional players in Europe and North America, promotional activities with respect to pickleball equipment are gaining traction. This surge in promotional activities has led to mounting number of promotional buyers. The market for promotional buyers for pickleball equipment is poised to expand at a CAGR of 7.5% during 2020-2030.
Institutional buyers in the pickleball equipment market are projected to gain momentum and create an absolute $ opportunity of US$ 163 Mn during the forecast period. This segment is estimated to account for 38% revenue share of the global market by 2030-end.
Europe is seen as the most lucrative region with the highest pickleball equipment market share, backed by strong growth of pickleball sports in the U.K. and Spain. Regional trends and sports regulatory policies play an important role in the development of Europe’s pickleball equipment market. In particular, the U.K. market is poised to expand at a CAGR of 9.5% and create an absolute $ opportunity of US$ 110 Mn over the forecast period.
Key companies active in the pickleball equipment market are increasingly viewing Europe from a target market perspective, on the back of increasing popularity for sports in the region. Furthermore, the North America pickleball equipment market is expected to create an absolute $ opportunity of US$ 200 Mn by 2030. However, the Asia Pacific region is seen as an emerging market, with increasing popularity of pickleball across urban cities in China, Japan, Australia, New Zealand, and India.
Corporate sponsorships in pickleball leagues are causing a large amount of capital inflow, which is making pickleball a prominent sport. This is also causing a large number of sports equipment companies such as Pickleball Inc. and Asics Corporation to make products for pickleball. Sponsorships for pickleball sports are offering investors several marketing opportunities to increase promotion and reach a broader audience.
For instance, in July 2020, the French Tennis Federation (Tennis Tournament Organizers) and HEAD announced a renewed partnership agreement until 2020. The company is the official ball supplier and stringing partner of Rolex Paris Masters. It provides stringing services for players and supplies HEAD tour balls for the tournament.
The spread of coronavirus has crippled the entire world. Nearly all countries have imposed lockdowns and strict social distancing measures. This has resulted in the disruption of supply chains across geographies. These factors have significantly impacted the demand for pickleball equipment, at least in the short term.
However, in the long term, the impact on the pickleball equipment market is expected to be significantly low. The market is expected to continue its upward trajectory over the coming years.
“Experimental purchasing habits of beginners and intermediate players have increased the sales of pickleball paddles, further instigated by new product launches and differentiated offerings”.
Fact.MR published an exclusive forecast report on the pickleball equipment market for the period of 2020-2030. The foremost objective of the pickleball equipment market report is to pitch spearhead insights on the market scenario, demand generators, and technological advancements in the pickleball equipment market. Also, the pickleball equipment market study addresses key dynamics that are expected to diversify the adoption and future prominence of pickleball equipment.
The report on the pickleball equipment market begins with an executive overview, in which, product definition has been provided. The report further proceeds with the taxonomy of the pickleball equipment market, elaborating on key segments. Also, the report outlines visionary insights on the dynamics of the pickleball equipment market, including the drivers, restraints, opportunities, trends, and pricing analysis, along with key buying factors.
Fact.MR has studied the pickleball equipment market with detailed segmentation on the basis of product, sales channel, buyer, and key regions.
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The global market is expected to create a value opportunity of US$ 120 Million over the forecast period.
The global market is segmented on the basis of product, sales channel, buyer, and key regions.
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