Asia-Pacific: Market for Tennis, Badminton Or Similar Rackets 2024

Market Size for Tennis, Badminton Or Similar Rackets in Asia-Pacific

The Asia-Pacific tennis and badminton rackets market rose modestly to $X in 2022, surging by 3.5% against the previous year. In general, consumption, however, continues to indicate a abrupt shrinkage. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Production of Tennis, Badminton Or Similar Rackets in Asia-Pacific

In value terms, tennis and badminton rackets production contracted modestly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the production volume increased by 50%. As a result, production reached the peak level of $X. From 2017 to 2022, production growth remained at a lower figure.

Exports of Tennis, Badminton Or Similar Rackets

Exports in Asia-Pacific

In 2022, shipments abroad of tennis, badminton or similar rackets increased by 4.9% to X units, rising for the second consecutive year after two years of decline. The total export volume increased at an average annual rate of +3.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 with an increase of 42% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to continue growth in years to come.

In value terms, tennis and badminton rackets exports surged to $X in 2022. Total exports indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +95.2% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 60%. The level of export peaked in 2022 and is expected to retain growth in the near future.

Exports by Country

China dominates exports structure, amounting to X units, which was approx. 87% of total exports in 2022. It was distantly followed by Taiwan (Chinese) (X units), comprising a 4.7% share of total exports. Hong Kong SAR (X units) and Japan (X units) took a minor share of total exports.

From 2012 to 2022, average annual rates of growth with regard to tennis and badminton rackets exports from China stood at +4.7%. At the same time, Japan (+14.4%) and Taiwan (Chinese) (+3.7%) displayed positive paces of growth. Moreover, Japan emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +14.4% from 2012-2022. By contrast, Hong Kong SAR (-8.7%) illustrated a downward trend over the same period. China (+8.2 p.p.) and Japan (+1.8 p.p.) significantly strengthened its position in terms of the total exports, while Hong Kong SAR saw its share reduced by -9% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest tennis and badminton rackets supplier in Asia-Pacific, comprising 70% of total exports. The second position in the ranking was taken by Japan ($X), with an 8.8% share of total exports. It was followed by Hong Kong SAR, with a 6.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China stood at +5.4%. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (+8.4% per year) and Hong Kong SAR (-8.6% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per unit in 2022, surging by 17% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 18%. The level of export peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($X per unit), while China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+0.6%), while the other leaders experienced mixed trends in the export price figures.

Imports of Tennis, Badminton Or Similar Rackets

Imports in Asia-Pacific

In 2022, tennis and badminton rackets imports in Asia-Pacific surged to X units, increasing by 16% compared with the year before. In general, imports posted a resilient increase. The pace of growth was the most pronounced in 2021 when imports increased by 50%. The volume of import peaked in 2022 and is likely to continue growth in the near future.

In value terms, tennis and badminton rackets imports amounted to $X in 2022. Over the period under review, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 44% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

India represented the largest importer of tennis, badminton or similar rackets in Asia-Pacific, with the volume of imports amounting to X units, which was approx. 43% of total imports in 2022. China (X units) held the second position in the ranking, followed by Japan (X units), Vietnam (X units), Malaysia (X units), Indonesia (X units) and South Korea (X units). All these countries together held approx. 39% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to tennis and badminton rackets imports into India stood at +20.1%. At the same time, Indonesia (+26.0%), China (+25.6%), Japan (+11.8%), South Korea (+9.7%) and Vietnam (+9.5%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +26.0% from 2012-2022. By contrast, Malaysia (-2.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of India, China, Indonesia and Japan increased by +29, +7.9, +4.3 and +2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Malaysia ($X) and Japan ($X) were the countries with the highest levels of imports in 2022, together accounting for 40% of total imports. India, Vietnam, Indonesia and South Korea lagged somewhat behind, together comprising a further 28%.

Indonesia, with a CAGR of +15.0%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Asia-Pacific amounted to $X per unit, declining by -10.2% against the previous year. Over the period under review, the import price recorded a drastic downturn. The growth pace was the most rapid in 2016 an increase of 12%. The level of import peaked at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per unit), while India ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+5.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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