Badminton Equipment And Products Market Size, Share & Trends Analysis Report By Product (Apparel, Shoes, Racquets, Strings, Shuttlecocks), By Distribution Channel, By Region, And Segment Forecasts, 2023 - 2030

Badminton Equipment And Products Market Size, Share & Trends Analysis Report By Product (Apparel, Shoes, Racquets, Strings, Shuttlecocks), By Distribution Channel, By Region, And Segment Forecasts, 2023 - 2030

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.

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.

Hypermarkets/supermarkets distribution channels dominated the market and accounted for a 33.9% share of the global revenue in 2022. Wide product range, offers, and discounts attracting a larger number of consumers are the key strategies opted by such channels to increase revenue and footfall in any store. In addition, consumers have the propensity to physically verify the making, durability, and uniqueness of the badminton products in person by visiting a store as these examinations offer them more confidence to buy the product.

The online distribution channel is expected to witness the fastest growth over the forecast period. The rising popularity of e-commerce channels among manufacturers and high internet penetration have been driving sales through this channel. In addition, an increase in the number of online sporting goods sales websites, such as badminton warehouse, Badminton Alley, Li-Ning Badminton Superstore, Badminton Avenue, and BadmintonBay.com, among others have been boosting the segment growth.

Asia Pacific dominated the market for badminton equipment and products and accounted for a 42.3% share of the global revenue in 2022. Growth in the market is powered by the strong presence of badminton players in China, Japan, and Indonesia coupled with increasing production of badminton products such as racquets, and shuttlecocks, among others. North America accounted for the considerable growth rate over the forecast period owing to the increasing demand and import the racquets.

Badminton Equipment And Products Market Report Highlights

• By product, racquets led the market and accounted for a 33.5% share of the global revenue in 2021. The rising import of the racquets in the U.S., U.K., and Germany, coupled with significant product launches by the manufacturers further supported the market share
• By distribution channel, the online segment is expected to witness the fastest growth of 6.1% throughout the forecast period. The increasing availability of a wide range of badminton products from different brands, free delivery, and seasonal discount on e-retailer platforms are among the major reasons driving the segment
• Asia Pacific is expected to register the fastest CAGR of 5.9% from 2022 to 2030. The growing popularity of badminton sports in India, Malaysia, and Indonesia among others coupled with the rising number of badminton players supporting the market growth over the forecast period