The increasing popularity of tennis and the growing preference for sports activities are some key factors expected to drive the global market over the forecast period. In addition, different Grand Slam tennis tournaments such as the Australian Open and Wimbledon are gaining popularity globally. This is one of the supportive factors expected to drive the market during the forecast period.
NEWARK, Del, Oct. 29, 2023 (GLOBE NEWSWIRE) — Explore how the demand for tennis equipment in Japan is set to rise, projecting a market valuation of US$ 216.5 million in 2023, with sales expected to reach US$ 274.7 million by 2033.
The Japanese tennis equipment Industry is witnessing a surge in popularity and demand, driven by a confluence of key trends, innovations, and competitive dynamics. An overview of the key trends catapulting sales, important insights into the Industry, a comparative view of adjacent tennis equipment Industry, and recent developments in the Japanese tennis equipment sector.
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Key Trends Catapulting Sales:
Growing Tennis Enthusiast Population: Tennis has gained immense popularity among the Japanese population, with an increasing number of individuals taking up the sport. This growth in the tennis enthusiast population has led to a significant increase in the demand for tennis equipment, including racquets, balls, clothing, and shoes.
Digitalization of Tennis: Technology has permeated the sport of tennis, leading to the development of smart tennis equipment such as sensor-equipped racquets and wearable devices that track player performance. These innovations are attracting tech-savvy tennis players, providing them with valuable insights and data to improve their game.
Eco-Friendly Tennis Equipment: Sustainability is a growing trend in the global sports industry, and Japan is no exception. Consumers are increasingly looking for tennis equipment made from eco-friendly materials, such as recyclable and biodegradable tennis balls and racquets made from sustainable materials. This trend aligns with Japan’s commitment to environmental conservation.
Rise of Tennis Tourism: Japan’s rise as a tennis tourism destination, with major tournaments like the Tokyo Olympics, has boosted the sport’s popularity and created an influx of tennis enthusiasts. Tourists visiting Japan for tennis events are contributing to the growth of tennis equipment sales, as they look for quality gear to enhance their experience.
Key Insights:
Premium Tennis Gear Dominates: The Japanese tennis equipment Industry has a strong appetite for premium and high-quality tennis gear. Japanese consumers are willing to invest in top-tier racquets, tennis apparel, and accessories, driving up the average selling price of tennis equipment.
Online Retailing Gains Ground: E-commerce platforms are gaining prominence in the distribution of tennis equipment. Online retailers are offering a wide variety of products, competitive pricing, and convenience, making them an attractive option for consumers. The convenience of online shopping has further accelerated sales.
Collaborations and Sponsorships: Many Japanese tennis players have gained international recognition, leading to increased collaborations between local athletes and global sports equipment brands. These partnerships are boosting the visibility of tennis gear and attracting fans.
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“Japan’s tennis equipment Industry is poised for impressive growth, with a projected 2.4% CAGR through 2033. The increasing demand for quality gear and a burgeoning tennis enthusiast base are driving this expansion, offering promising opportunities for both local and international players in the industry” Opines Sneha Verghese, Senior Consultant for Consumer Goods and Products at Future Market Insights (FMI).
Comparative View of Adjacent Tennis Equipment in Key Industry:
Compared to other key Industry in Asia, Japan stands out as a significant player in the tennis equipment industry. Here’s a brief comparative view:
China: China has a rapidly growing tennis equipment Industry, primarily driven by a large population and a government push to promote tennis. Japan, on the other hand, has a more mature Industry with a strong emphasis on quality and premium products.
South Korea: South Korea’s tennis equipment Industry is also growing, but it lags behind Japan in terms of size and consumer willingness to invest in high-end gear.
Australia: Australia has a thriving tennis culture, and the Industry is similar to Japan in terms of consumer preference for quality tennis equipment. However, Australia has a more established presence in the production of tennis gear.
Competitive Landscape:
The Japanese tennis equipment Industry is highly competitive and features a mix of local and international players. Key companies dominating the landscape include Yonex, Mizuno, HEAD, and global giants like Wilson and Babolat. These brands are actively engaged in product innovation, Indus trying, and collaborations with Japanese tennis stars.
Recent Developments in Tennis Equipment in Japan:
Technological Advancements: Japanese manufacturers have been at the forefront of integrating technology into tennis equipment, with advancements in racquet materials, strings, and sensors that enhance player performance and experience.
Sustainability Initiatives: Many companies in Japan are increasingly focused on sustainability, developing tennis equipment using eco-friendly materials and reducing their environmental footprint.
Global Tournaments: Japan has been selected as the host for major international tennis tournaments, which will further boost the tennis equipment industry. The upcoming events have generated increased interest and investments in tennis gear production and distribution.
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Key Segments
By Product Type:
- Tennis Racquets
- Tennis Balls
- Apparel
- Footwear
- Ball Machines
- Tennis Bags
- Other Accessories
By Material:
- Composites
- Metallic
- Others
By Buyer:
- Individuals
- Beginners
- Intermediate
- Advanced
- Institutional Use
By Sales Channel:
- Dedicated Stores
- Dedicated E-commerce
- Specialty Retailers
- Multi-brand Stores
- Online Retailers
By Cities:
- Kanto
- Chubu
- Kinki
- Kyushu & Okinawa
- Tohoku
- Rest of Japan
Author By:
Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods.
Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, technology projects, and driving successful implementations. She has helped create insightful, relevant analysis of Food & Beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals.
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