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However, the tennis segment is anticipated to manifest the fastest CAGR of 5.4% from 2022 to 2031. Badminton trainings are also more intense and some are even supported by sports science.

This is due to technological advancements in badminton rackets, shoes and shuttlecocks. The badminton segment to dominate the market during the forecast periodīased on application, the badminton segment was the largest market in 2021, holding more than two-fifths of the global racket sports equipment market share, and is likely to exhibit a prominent growth during the forecast period. The wristbands market is driven by innovation and the key competitors are developing goods with improved features that are drawing a sizable consumer base to smart wristbands.

The accessories segment is projected to witness the fastest CAGR of 6.2% from 2022 to 2031. Increased participation of youth in various racket tournaments, an increase in the number of tennis players all over the world, the rise in tennis competitions, the short replacement cycle of tennis balls which frequently require the purchase of new balls, and the introduction of a variety of slower balls and smaller courts fuel the global tennis ball market. The balls segment to hold the lion's share during the forecast periodīased on product type, the balls segment contributed to the highest market share in 2021, grabbing more than one-fourth of the global racket sports equipment market, and is expected to maintain a noteworthy growth during the forecast period.

However, the market is gaining back its normal phase as the pandemic is slowly receding.

A majority of sports equipment manufacturing companies and community fitness centers were closed, leading to a reduced demand for sports equipment worldwide.

The precautionary measures imposed by governments led to the closure of many non-essential companies, social withdrawal, bans on public meetings and stay-at-home directives for numerous countries around the globe.

The COVID-19 pandemic forced the suspension of a majority of athletic competitions.

On the other hand, entry of big brands in markets where there is lack of availability of sports facilities and products, setting up of sports facilities, sports centers and play grounds by key players, donation of sports equipment, building sports facilities, conducting free of cost sports competitions, and providing free training to potential athletes by various organizations and NGOs, and the developing interest of the youth in sports are anticipated to offer potential opportunities for the market growth in the coming years.

However, growing penetration of the internet, smartphones, computers and other electronic media & entertainment devices which lead to an increase in involvement of youth towards indoor activities hamper the market growth. Growing popularity of table tennis and increase in participation in the game globally, rise in awareness about fitness, sports activities and exercise among people due to rise in sports education and sports training in academics, and rise in sport initiatives by governments in emerging economies drive the growth of the global racket sports equipment market. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario. 22, 2022 /PRNewswire/ - Allied Market Research published a report, titled, "Racket sports equipment Market by Product Type (Rackets, Balls, Eyewares, Racket Bags, Accessories), by End User (Men, Women, Kids), by Application (Badminton, Racquetball, Squash, Tennis), by Distribution Channel (Hypermarket, Specialty Stores, E-Commerce, Others): Global Opportunity Analysis and Industry Forecast, 2022-2031." According to the report, the global racket sports equipment industry generated $176.80 million in 2021, and is estimated to reach $272.40 million by 2031, witnessing a CAGR of 4.3% from 2022 to 2031.