Badminton Equipment and Products Market Growth & Trends
The global badminton equipment and products market size is anticipated to reach USD 5,593.3 million by 2030, according to a new report by Grand View Research, Inc., expanding at a CAGR of 5.6% from 2023 to 2030. The growing popularity of badminton sports mainly in India, Indonesia, Denmark, the U.S., and others countries across the globe is one of the major factors propelling the growth of the market growth.
Moreover, the growing partnerships between various organizations such as USA Badminton (USAB), and Badminton World Federation (BWF) and manufacturers for sponsorships and encouragement in badminton participation across the globe are further projected to create many opportunities for market growth in the upcoming years.
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The COVID-19 outbreak is likely to reduce the demand for badminton products across the globe. Store closures due to lockdown measures have resulted in grim consequences, with sales of racquets, shuttlecocks, shoes, and others accessories from both offline channels declining consistently. For instance, Yonex Co. Ltd., one of the leading companies in the badminton products industry accounted a decline of around 20.5% in the badminton products revenue in 2020.
The badminton racquets led the market and accounted for a 33.5% share of the global revenue in 2022. With the growing demand for high-quality and material-based racquets among the professional players' population worldwide, many racquets brands have started catering to the high-quality racquets category to gain the attention of consumers. For instance, in October 2022, Babolat launched new badminton racquets EVO AERO and EVO AERO LITE delivering effortless power, comfort, and more spin.
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Badminton Equipment And Products Market Segmentation
Grand View Research has segmented the global badminton equipment and products market report based on product, distribution channel, and region.
Badminton Equipment And Products Product Outlook (Revenue, USD Million, 2017 – 2030)
- Apparel
- Shoes
- Racquets
- Strings
- Shuttlecocks
- Accessories
Badminton Equipment And Products Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
- Hypermarkets/Supermarkets
- Specialty and Sports Stores
- Online
List of Key Players of Badminton Equipment And Products Market
- YONEX Co., Ltd.
- Mizuno Corporation
- Li Ning (China) Sports Goods Co., Ltd.
- Babolat
- Apacs Sports (M) Sdn Bhd
- FELET International Holdings Sdn. Bhd.
- ASICS Corporation.
- GOSEN CO., LTD.
- Yehlex
- VICTOR RACKETS IND.CORP.
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Grand View Research is an India & U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. Grand View Research database is used by the world's renowned academic institutions and Fortune 500 companies to understand the global and regional business environment. Our database features thousands of statistics and in-depth analysis on 46 industries in 25 major countries worldwide.
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