Escalating number of pickleball clubs and professional players in North America and Europe will drive the global pickleball equipment market.
NEW YORK, NY / ACCESSWIRE / April 27, 2021 / The global pickleball equipment market is forecast to be on a strong growth trajectory. As per a study by Fact MR, the global pickleball equipment market is estimated to grow at 9% CAGR for the forecast period (2020-2030). Use of digital platforms for maintaining global presence and regional availability is predicted to assist the market expansion. Introduction of pickleball in Olympics will be a game changing factor and might lead to tremendous market growth.
According to data issued by the Sports & Fitness Industry Association's (SFIA) in 2018 pickleball participant report, 2.92 million pickleball players were reportedly in the U.S. alone. The surging popularity of the sport will further boost the market growth. However due to COVID-19 pandemic, the pickleball equipment market faced sluggish growth. The market is expected to recover in the following years.
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"Corporate sponsorship from sports equipment manufacturers have provided huge marketing opportunities leading to global outreach. With the launching of new products and offerings, the sales are expected to propel in the upcoming years," says a Fact.MR analyst.
Key Takeaways
- Pickleballs market is projected to create lucrative opportunity of US$ 120 Mn during 2020-2030.
- Promotional activities are attracting large number of promotional buyers. This strategy has led to increased sales in Europe and North America.
- The global pickleball equipment market for promotional buyers is forecast to grow at 7.5% CAGR
- Favorable sports regulatory policies in U.K. and Spain is providing conducive environment for market growth, with U.K. predicted to bulk at a CAGR of 9.5%.
- High popularity of pickleball in North America will create lucrative opportunity with valuation of US $200 Mn by the end of 2030.
Prominent Drivers
- Rising popularity in urban regions of Asia Pacific region Like New Zealand, India, China, Japan and Australia will elevate the pickleball equipment market demands.
- Accessibility of pickleball equipment through leading brands across e-Commerce platforms will propel the market growth.
- Rise in committed household have augmented their spending on pickleball equipments will increase the market demand.
Key Restraints
- Lack of endorsement from media and government for pickleball tournaments led to minimal popularity in Middle East and Asia Pacific region.
- Easy availability of cheap and counterfeit pickleball equipment restricted the market growth.
- Lack of awareness about the pickleball in emerging economies has affected the market sales.
Discover more about the pickleball equipment market with 70 figures and 163 data tables, along with the table of contents. https://www.factmr.com/report/810/pickleball-equipment-market
Competitive Landscape
Fact.MR profiled some of the leading players operating in pickleball equipment market. It includes Pickleball Inc. and Asics Corporation among others. Cash influx due to corporate sponsorships has made pickleball famous. The key sports manufacturing companies like Asics Corporation are offering lucrative marketing deals to investors assisting them in reaching to broader audience. For instance, in July 2020, the French Tennis Federation renewed its partnership agreement till 2030.
More Valuable Insights on pickleball equipment market
Fact.MR, in its new report, offers an unbiased analysis of the global pickleball equipment market, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the pickleball equipment market on the basis of Product type (Paddle, wood, graphite and composite, Balls, indoor plays), buyers (Individual, institutional, Promotional) across regions (North America, Latin America, Europe, Asia Pacific, MEA).
Key Questions Covered in the Report
- Which category will be the most lucrative for pickleball equipment market?
- What is likely to be the future outlook of pickleball equipment market?
- What are the key drivers and restraints for the pickleball equipment market?
- Which region has the highest growth rate in pickleball equipment market?
- Which are the leading players operating in the pickleball equipment market?
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