Adoption of pickleball as a sport has been significantly high in recent years. Adoption rate in North America is higher than other regions, where spending on playing pickleball is subsequently high. With increase in disposable income of a majority of the population across regions, the inclination toward the sport of pickleball is expected to grow. Moreover, aspiring and affluent households have increased their spending on equipment for several indoor and outdoor sports, thereby potentially raising the demand for pickleball equipment.
As the focus on sports and recreational activities becomes strong, worldwide, market players are eyeing potential opportunities in unexplored markets. Highly populous Asian countries, in particular, offer a huge customer base for leading manufacturers of pickleball equipment. Exploiting untapped markets and inclusion of pickleball at the Olympics could result in opening up numerous opportunities for the pickleball equipment market during the forecast period (2020-2030), which is projected to expand at a CAGR of 10% through 2030.
Key Takeaways from Global Pickleball Equipment Market Study
- Pickleball paddles are estimated to account for 65% share of the total market revenue in 2020, but lose 130 BPS in their market share by 2030.
- Institutional buyers for pickleball equipment continue to influence the growth strategies of market players, which are expected to contribute revenue worth US$ 130Mn in 2020 and US$ 290 Mn by 2030, progressing at a CAGR of 8% during the forecast period.
- Sales of pickleball equipment through independent sports outlets have registered notable growth over the historical period. This segment is expected to record a CAGR of 9.5% and create an absolute $ opportunity of US$ 240 Mn during the forecast period.
- The Europe pickleball equipment market is projected to hold a prominent share of the global market value.
- The pickleball equipment market in North America is projected to register the highest growth rate in terms of value during the forecast period.
- The COVID-19 pandemic has resulted in reduced sports activities, which is set to hamper market growth in the near term.
“Manufacturer-driven league sponsorships with respect to pickleball sports for brand promotion to gain traction with increasing competition in the pickleball equipment market space,”says a Fact.MR analyst.
Pickleball Equipment Market Competitive Analysis: Key Players to Focus on Geographical Expansion and League Sponsorships
Corporate sponsorships in pickleball leagues are causing a large amount of capital inflow, which is making pickleball a prominent sport. This is also causing a large number of sports equipment companies such as Pickleball Inc. and Asics Corporation to make products for pickleball. Sponsorships for pickleball sports are offering investors several marketing opportunities to increase promotion and reach a broader audience.
For instance, in July 2020, the French Tennis Federation (Tennis Tournament Organizers) and HEAD announced a renewed partnership agreement until 2020. The company is the official ball supplier and stringing partner of Rolex Paris Masters. It provides stringing services for players and supplies HEAD tour balls for the tournament.
Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner.
US Sales Office:
11140 Rockville Pike
Rockville, MD 20852
Tel: +1 (628) 251-1583