Asia: Market for Tennis, Badminton Or Similar Rackets 2024

Market Size for Tennis, Badminton Or Similar Rackets in Asia

The Asian tennis and badminton rackets market expanded remarkably to $X in 2022, growing by 5.7% against the previous year. Overall, consumption, however, continues to indicate a abrupt shrinkage. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Production of Tennis, Badminton Or Similar Rackets in Asia

In value terms, tennis and badminton rackets production reduced modestly to $X in 2022 estimated in export price. In general, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 50%. As a result, production reached the peak level of $X. From 2017 to 2022, production growth failed to regain momentum.

Exports of Tennis, Badminton Or Similar Rackets

Exports in Asia

In 2022, overseas shipments 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 pace of growth appeared the most rapid in 2013 when exports increased by 42% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, tennis and badminton rackets exports surged to $X in 2022. Total exports indicated pronounced growth 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 +95.1% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 60%. The level of export peaked in 2022 and is expected to retain growth in years to come.

Exports by Country

China dominates exports structure, reaching X units, which was near 87% of total exports in 2022. It was distantly followed by Taiwan (Chinese) (X units), creating a 4.7% share of total exports. The following exporters - Hong Kong SAR (X units) and Japan (X units) - together made up 6.4% 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, 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 ($X) remains the largest tennis and badminton rackets supplier in Asia, comprising 70% of total exports. The second position in the ranking was taken by Japan ($X), with an 8.8% share of total exports. It was followed by Hong Kong SAR, with a 6.7% share.

In China, tennis and badminton rackets exports expanded at an average annual rate of +5.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Japan (+8.4% per year) and Hong Kong SAR (-8.6% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per unit, growing by 17% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 18% against the previous year. Over the period under review, the export prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, 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

In 2022, approx. X units of tennis, badminton or similar rackets were imported in Asia; increasing by 17% against the previous year. Over the period under review, imports continue to indicate prominent growth. The growth pace was the most rapid in 2021 with an increase of 53%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, tennis and badminton rackets imports rose remarkably to $X in 2022. Overall, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 46% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

Imports by Country

India was the key importer of tennis, badminton or similar rackets in Asia, with the volume of imports resulting at X units, which was approx. 42% of total imports in 2022. China (X units) took a 9.8% share (based on physical terms) of total imports, which put it in second place, followed by Japan (6.3%), Vietnam (5.9%), Malaysia (5.8%), Indonesia (5.3%) and South Korea (4.5%). Hong Kong SAR (X units), Thailand (X units), Singapore (X units), the United Arab Emirates (X units), the Philippines (X units) and Taiwan (Chinese) (X units) followed a long way behind the leaders.

Imports into India increased at an average annual rate of +20.1% from 2012 to 2022. At the same time, Indonesia (+26.0%), China (+25.6%), Japan (+11.8%), Thailand (+10.7%), the Philippines (+10.0%), South Korea (+9.7%), Vietnam (+9.5%), the United Arab Emirates (+7.7%), Singapore (+5.3%) and Taiwan (Chinese) (+3.3%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing importer imported in Asia, with a CAGR of +26.0% from 2012-2022. By contrast, Malaysia (-2.6%) and Hong Kong SAR (-12.3%) illustrated a downward trend over the same period. From 2012 to 2022, the share of India, China, Indonesia and Japan increased by +28, +7.7, +4.2 and +2.1 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Malaysia ($X) and Hong Kong SAR ($X) were the countries with the highest levels of imports in 2022, with a combined 39% share of total imports. Japan, India, Singapore, Vietnam, Indonesia, South Korea, the United Arab Emirates, Taiwan (Chinese), Thailand and the Philippines lagged somewhat behind, together comprising a further 53%.

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

Import Prices by Country

The import price in Asia stood at $X per unit in 2022, shrinking by -8.8% against the previous year. Over the period under review, the import price saw a abrupt decline. The most prominent rate of growth was recorded in 2016 when the import price increased by 17% against the previous year. The level of import peaked at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+6.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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