China Racket Sports Equipment Market Overview, 2028

China Racket Sports Equipment Market Overview, 2028

Actual Market Research 31-12-2022 68 Pages Figures : 6 Tables : 21 Region : Asia-Pacific Country : China Category : Consumer Goods & Services Leisure

China has emerged to become a dominant country irrespective of the product or industry over the years and the racket sports equipment market is not indifferent. The expansion is attributed to increased consumer interest in racket sports as well as an increase in the number of facilities in schools and colleges. Furthermore, in the APAC region's market, China is predicted to increase more quickly than other countries. Badminton is played by more than 100 million individuals in China, according to preliminary estimates. That is greater than the combined population of the United Kingdom and Denmark, two European countries that do well in top-level badminton (though not as well as some other Asian countries, let alone China). According to the research report, “China Racket sports equipment Market Overview, 2028” published by Bonafide Research the market is expected to add USD 141.76 Million by 2028. China's racket sports equipment industry is expected to grow and expand in the coming years. 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. China has an estimated 100 million human beings taking part in badminton, therefore, making it a priority for them to build facilities that can accommodate the number of people, whereas Australia has 100 thousand, so they do not need as many facilities. The government provides athlete that wants to play badminton with housing, meals, and education amenities. So that they can center their attention on preparing for competitions and taking part in badminton tournaments. It is common knowledge that the Olympic powerhouse China reigns supreme in the sport of table tennis. There is nothing new to say about China's dominance in table tennis, often known as ping pong. The fact that China has governed the world of table tennis since the 1996 Olympics demonstrates its dominance. Since the inclusion of table tennis in the Olympics in 1988, Chinese competitors have won 32 of the 37 gold medals given until the 2020 Tokyo Olympics, with the rest of the world winning only 5. The Chinese National Team is unbeaten in both Olympic team competitions (men's and women's). They've never won anything less than gold. Furthermore, since 1995, the men's Chinese National Team has not lost a series at the Table Tennis World Championships. The women's team hasn't lost a game since 1994. China has launched a new game called Qianball, which is a racket sport akin to tennis or squash. The sport began in China and was popularized in Denmark by their organization, the KFUM. The game is described as a cross between tennis and squash, or as squash without walls. China's performance in badminton can be seen in the Olympics, team tournaments such as the Thomas Cup, Uber Cup, and Sudirman Cup, as well as other major badminton contests such as the BWF World Championships. China has won 18 of the 34 gold medals available in the Olympics, 24 of the 32 team events, and 66 gold medals at the World Championships, including three clean slates. There are few countries where the government invests as much money in a sport as China does in badminton. This means that there is enough money in the sport to cover the players' lodging, food, and training at the lowest levels of the sport, which means that badminton players in China don't have to dig too deeply into such necessities and can instead focus exclusively on their skills. Racket sports equipment is in high demand, so it is mostly distributed via supermarkets, hypermarkets, and specialized shops. Customers can visit these locations and select from a wide range of things to purchase as the world comes closer to online shopping and because it is more convenient than shopping in physical stores. As a result, internet racket sports equipment distribution will expand. There are various supermarkets, hypermarkets, and specialty shops where racket sports equipment is distributed. Amazon and Alibaba are prominent online racket sports equipment market distribution channels in China. E-commerce or online store is a huge platform growing at a tremendous rate in China, Consumers of every age, including generation X, millennials, or generation Z prefer to shop from e-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 China. 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: China • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028 Aspects covered in this report • China 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.

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