Global Badminton Equipment and Products Market Size, Share, Growth Analysis, By Products Outlook(Apparel, Shoes), By Distribution Channels(Supermarkets, Specialty and Sports Stores) - Industry Forecast 2023-2030

Badminton Equipment and Products Market size was valued at USD 3.62 Billion in 2021 and is poised to grow from USD 3.83 Billion in 2022 to USD 5.92 Billion by 2030, growing at a CAGR of 5.6% in the forecast period (2023-2030).

The growth of the badminton market is expected to be propelled by a surge in national and international badminton events, coupled with sponsorship from both government and corporate entities. This trend is anticipated to be augmented by the active support of prominent organizations like the Badminton World Federation (BWF) and USA Badminton (USAB), among others, which collectively strive to enhance the global appeal of the sport and unlock significant market expansion opportunities. A notable example is the role of USAB in the United States as the recognized national governing body for badminton. Their primary goals include fostering the development of American athletes and facilitating increased engagement with badminton nationwide.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Badminton Equipment and Products Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Segments covered in this report:

The segmentation of the Global Badminton Equipment and Products Market encompasses three key facets: Product Outlook, Distribution Channel, and Region. This breakdown categorizes market segments into Clothing, Shoes, Racquets, Strings, Shuttlecocks, and Accessories, based on the product outlook. The Distribution Channel dimension involves supermarkets, specialty and sports stores, as well as online platforms. Geographically, the Badminton Equipment and Products Market extends across North America, Europe, Asia Pacific, Middle East and Africa, and Latin America regions.

Driver:

The escalating demand for outdoor adventure activities is a significant driving force in the market. As individuals increasingly seek recreational activities to complement their busy lives and alleviate stress, sports have gained immense popularity. The market's expansion is influenced by heightened consumer awareness regarding the importance of adhering to safe practices during activities like hiking, biking, skiing, and trekking, as well as maintaining proper hydration. The appeal of adventure activities like hiking, cycling, skiing, and trekking as means of relaxation has risen due to people's demanding schedules and health considerations. Improved global economies and augmented purchasing power have enabled both developed and emerging countries to allocate more resources to foreign travel and related expenditures, presenting ample opportunities to reshape the perception of e-commerce. Major companies stand to leverage the growing trend of online retailing to significantly augment their sales and extend their geographical reach. Moreover, the escalating participation in badminton has driven demand for top-quality equipment and products to enhance on-court performance. This surge in participation has spurred innovation in product design and technology, further propelling market growth. The growing engagement with badminton is attributed to several factors. Primarily, the increasing awareness of the significance of an active and healthy lifestyle has led to more individuals embracing sports like badminton. Additionally, badminton offers a cost-effective alternative to popular sports like tennis or golf, making it accessible across various socio-economic strata and contributing to its widespread popularity.

Restraint:

The low popularity of badminton in many countries acts as a significant restraint in the market. Ambitious players face challenges in gaining prominence due to the sport's limited recognition. The lack of awareness about the sport's existence and limited information about equipment availability hinder market growth. The sport's declining popularity is exacerbated by fluctuating raw material costs, impacting the prices of essential equipment like racquets. Moreover, badminton's lack of widespread appeal in industrialized or western nations contributes to its limited growth. The sport's relative lack of success compared to other Olympic-winning sports also plays a role in its stagnation. Consequently, a substantial barrier to expanding the badminton equipment and products market is the sport's relatively low popularity. Additionally, the elevated cost of advanced equipment poses a restraint. The increasing popularity of the sport and greater participation at various levels have driven the demand for advanced equipment. However, the prices of such equipment have risen, rendering them less accessible to certain individuals. The expense of advanced equipment hinges on factors like materials, design, and technology integration. Racquets fashioned from premium materials like carbon fiber or titanium incur higher costs than those made from aluminum or steel. Similarly, racquets featuring sophisticated technologies such as aerodynamic frames or vibration dampening systems command higher prices than standard models. While advanced equipment offers benefits like enhanced performance and durability, their elevated costs might dissuade players from upgrading. This phenomenon could curtail market growth, particularly in regions with lower purchasing power.

Market Trends:

The emergence of smart badminton products is being propelled by technological advancements and the rising demand for items that offer a competitive advantage. These products incorporate sensors that utilize data analytics to provide players with insights into their performance, including swing speed and racket impact points. This data aids players in recognizing areas for enhancement and adapting their technique accordingly. Beyond performance metrics, smart badminton products offer features like Bluetooth connectivity, real-time coaching, and video analysis. Certain products are accompanied by companion apps that enable players to monitor their progress over time and compare their performance with peers. While the adoption of these products is still in its initial stages, it is anticipated to gain traction as more players recognize the benefits. Manufacturers and suppliers are dedicating efforts to research and development, striving to create more sophisticated and cost-effective smart badminton products tailored to diverse player needs.