Europe Racket Sports Equipment Market Research Report, 2028

Sports have always been popular among the people in Europe, owing to which the sport and fitness equipment industry has witnessed steady growth for many years. Sporting goods include different types of products such as apparel, equipment, and shoes. They are used for various purposes, such as body protection, performance enhancement, aesthetic improvement, and others. The rising prevalence of obesity in Europe, which is fuelling demand for fitness-related sports equipment, is expected to boost the sporting goods market growth. According to the most recent WHO Childhood Obesity Surveillance Initiative (COSI) data (2015–2017), southern European countries have the highest rate of child obesity. In Cyprus, Greece, Italy, Malta, San Marino, and Spain, one in every five boys (18% to 21%) is obese. As a result, the region's rising obesity rate is driving demand for fitness-related goods, which is driving the market growth for sporting goods. The growing emphasis of European governments on promoting various racket sports activities in the region in order to encourage people to participate in sports and improve their quality of life is expected to drive the growth of the industry. Sport, according to the European Committee on Culture and Education, is an integral part of an individual's life and aids in the integration of people from different cultures, ethnicities, and borders. Furthermore, rising disposable income is expected to drive future revenue growth for European sporting goods equipment. According to the research report "Europe Racket Sports Equipments Market Research Report, 2028," published by Actual Market Research, the market is anticipated to grow at a rate of 4.16% CAGR during the forecast period. The growing emphasis of European governments on promoting various sporting activities in the region in order to encourage people to participate in sports and improve their quality of life is expected to drive the growth of the sports goods industry. According to the obtained data, the European Committee on Culture and Education states that sport is an integral part of an individual’s life and helps in the integration of people across cultures, ethnicities, and borders. In Europe, more than half of men and women between the ages of 15 and 24 exercise or play sports with at least some regularity. In 2019, 44 percent of the EU population aged 15 or over reported that they practiced sports at least once a week. Also, Sweden is considered the most athletic country in Europe, followed by Norway and the Netherlands. According to the report, the market is segmented into five major product types, including rackets, balls, bags, eyewear, and accessories. The racket segment is the market leader, accounting for more than half of the market in 2022. Participation is increasing in several European countries, such as the UK, where nearly 2,65,000 adults and over 1,90,000 juniors play badminton twice a month. These statistics alone demonstrate how popular badminton is in England. Furthermore, there has been a significant increase in the number of players in these sports. Playtomic, Europe’s largest racket sports app for players and clubs, has recently announced the acquisition of PrenotaUnCampo, an Italy-based leading company in sports reservations in this country. The operation further strengthens the position of Playtomic in this growing market in Europe, showing that COVID-19 has not slowed this sports-tech startup down. Playtomic, which was founded in 2017, aims to make it easier for people to participate in sports by allowing them to reserve a sports facility with just three clicks on the app. The app helps keep sports centers booked up and improves efficiency and the digitalization of their facilities. Last year, the startup expanded to fast-growing markets such as Sweden, Finland, Benelux, and Mexico. Based on the report, the market is further segmented into various sports types, including tennis, table tennis, badminton, squash, padel, and others. Among them, the badminton segment leads the market with more than 40% market share in 2022. However, according to data obtained, 31% of tennis players in Europe played in 2019. Moreover, Europe has nearly 52% of the total number of tennis clubs across the globe, which is the highest among all the continents. People across Europe are highly inclined towards participating in different sports and recreational activities owing to growing health consciousness, which is expected to drive the sales of tennis racquets in Europe. On the other hand, Spain is by far the country with the most amateur and professional padel players in the world, with reports suggesting this number is around 4 Million, and with 20,000 padel courts, it also consists of the most courts globally. Based on the countries, the Europe market is segmented into Germany, the UK, France, Spain, Italy, and Russia. Among them, Germany is leading the market. The country with the greatest total number of tennis courts in 2018 was Germany, with over 46 thousand clubs, accounting for 10.2 percent of all tennis courts worldwide. 25 Million people play tennis in Europe, of which 12% live in the UK. Tennis is one of the most popular sports in Germany, with more than five Million active players. The German Tennis Federation is the largest tennis federation in the world, with 1.4 Million members. Further, in 2021, approximately 222.8 thousand people participated in table tennis in England with more than 4 Million people playing competitive table tennis in the territory controlled by the ETTU (European TT Union). On the other hand, Denmark is one of two European nations to share the top five rankings with Asian countries, with a total medal count of 60. England has a total of 24 medals, with three being gold medals. England also has 9 silver medals and 12 bronze medals. England has the same number of bronze medals as Japan, a country ranked 8th worldwide. Additionally, in 2021, approximately 105.6 thousand people participated in squash and racquetball in England. Squash will have been played by approximately 260,000 people in the United Kingdom in 2020, down from 425,000 in 2016. However, squash's popularity is growing strongly in Finland, where the sport is of interest to more than half a Million Finns. There are more than 30 squash courts in Europe. The European country has more than 20,000 padel courts, with an estimated four Million active players. Behind football, it's the country's second-most popular sport. Covid-19 Impacts: The UK, France, and Russia have been hit the hardest by the COVID-19 outbreak in Europe. The UK is estimated to suffer an economic hit due to a lack of revenue from various industries, as the country recorded the highest number of COVID-19 cases, followed by France, Spain, Italy, and Germany. Other member states have implemented drastic measures and travel restrictions, including partially closing their borders. This is anticipated to impact market growth in Europe. The lockdown restrictions are being slowly lifted in some of the countries in Europe; for instance, in Denmark, shops and apartment complexes have reopened. Italy is in the "yellow zone" and is slowly lifting the lockdown restrictions. All these factors are likely to have a positive impact on the consumer goods industry, which will translate into the recovery of the racquet market. Major Companies present in the market: Amer Sports Oyj, Babolat, Head NV, Yonex Co., Ltd, Völkl Int. GmbH, Fila Holdings Corporation, Nike Inc, Puma, karakal, Sumitomo Rubber Industries, Pacific Holding Gmbh, Gamma Sports, Victor Rackets Ind. Corporation Considered in this report • Geography: Europe • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028 Aspects covered in this report • Europe racket sports equipment market with its value and forecast along with its segments • Country-wise racket sports equipment market analysis • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation Countries covered in the report: • Germany • United Kingdom • France • Spain • Italy • Russia By Product Type: • 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 • Padel • Others (Racquetball) By Distribution Channel: • Hypermarkets/Supermarkets • Specialty Stores • Online Stores • Other Distribution Channels By End-User: • 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, annual reports of companies, and analyzing 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.