Brazil Racket Sports Equipment Market Overview, 2028

Brazil Racket Sports Equipment Market Overview, 2028

Brazil has the greatest market share in South America for racket sports equipment. The future of the Racket sports equipment manufacturing market in Brazil appears promising, led by numerous growth drivers. Some of them are an increase in the number of tennis events, participation by all age groups, particularly among youngsters, and the expansion of tennis as a fitness sport. Tennis rackets, tennis balls, and tennis strings are the three types of sectors in this market. Emerging trends influencing the dynamics of the tennis equipment sector include increased use of information technology for direct promotion and marketing to clients and increased engagement in tennis for cardiovascular health.

According to the research report Brazil Racket sports equipment Market Overview, 2028, published by Bonafide Research, the market is expected to add USD 29.58 Million by 2028. The dynamic consumer behavior, supplier-side practices, and regulatory environment all have a significant impact on the growth of the racket sports equipment industry. Manufacturers are putting more emphasis on innovation and the release of new branded racket sports equipment. This is a significant factor driving the racket sports equipment market. Furthermore, most retailers operate by identifying and meeting client expectations. Because of the growing popularity of racket sports and the resulting growth in product demand, retailers now provide a variety of specially tailored packages and deals to fulfill their customers' needs.

The Brazil Open was an annual tennis tournament held in Sao Paulo, Brazil. It was one of the premier events on the Brazilian tennis calendar, alongside the ATP Tour 500 Rio Open, and was part of the ATP Tour 250 series. It has been a part of the South American clay court circuit since 2004, but it was previously held on hard courts. With three singles victories each, Nicolás Almagro and Pablo Cuevas hold the record, while Bruno Soares holds the record in doubles with three consecutive titles from 2011 to 2013. Tournament organizers stated on October 15, 2019, that the tournament will be canceled in favor of a return to the Chile Open. The three racket sports included at the 2016 Summer Olympics in Brazil are tennis, badminton, and table tennis. Though the three racket sports have varied origins and rules, they are all linked by the employment of the handy projectile hitter that gives the grouping its name. The precursor of modern rackets is thought to have first been used in a former Olympic game known as jeu de paume, which has since evolved into a sport known as real tennis (to distinguish it from the current iteration of tennis).

Consumer preferences have been changing over time; with a rise in disposable income and positive expectations for the economy. This has improved the demand for Racket sports equipment in the country. The presence of various international brands including various largest brands in North America is an important feature of Brazil’s Racket sports equipment industry. Brazil is considered a growing market and hence, international brands are expected to enter Brazil’s market in the future as well marking their presence into different categories.

Supermarkets and hypermarkets held the largest share. Over the past few years, supermarkets and hypermarkets have witnessed significant growth in the Racket sports equipment categories. Furthermore, increasing supermarket penetration in developing countries will boost product sales through this distribution channel. Some of the main supermarket chains in Brazil are Companhia Brasileira de Distribuição, Carrefour Comércio e Indústria Ltda., Wal-Mart Brasil Ltda., Cencosud Brasil Comercial Ltda., Companhia Zaffari Comércio e Indústria and many more. Several countries have specialized retail stores for the product, for instance, shops on the street and public markets, and specialty stores. Online distribution is anticipated to expand at the fastest CAGR.

Covid-19 Impact:
Racket sports equipment has also been negatively impacted by the COVID-19 pandemic in Brazil. Most sporting events have to be suspended due to the COVID-19 pandemic, which has spread over the globe. These preventative measures, which resulted in the closure of the bulk of non-essential businesses, included social withdrawal, public meeting bans, and stay-at-home instructions for several nations throughout the world. As a result, the bulk of racket sports equipment manufacturing businesses and neighborhood fitness centers were shut down, preventing the market for racket sports equipment from expanding. As the pandemic fades, the racket sports equipment market will typically grow gradually.

Considered in this report
• Geography: Brazil
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report
• Brazil Racket sports equipment market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Product
• Rackets
• Balls
• Bags
• Eyewear
• Accessories (Cap, Wrist bands, Headband, Racquet grip, Racquet Strings, Racquet Covers, Gloves Etc.)

By Sports type
• Tennis (Lawn Tennis)
• Table Tennis
• Badminton
• Squash
• Others (Paddle, Racquetball, etc.)

By Distribution Channel
• Supermarkets & Hypermarkets
• Specialty stores
• Online stores
• Other distribution channels

By Age Group
• Men
• Women
• Kids

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Racket sports equipment industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.