India: Market for Tennis, Badminton Or Similar Rackets 2024

Market Size for Tennis, Badminton Or Similar Rackets in India

The Indian tennis and badminton rackets market expanded slightly to $X in 2022, increasing by 2.1% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption continues to indicate a buoyant expansion. Tennis and badminton rackets consumption peaked in 2022 and is likely to see gradual growth in the immediate term.

Exports of Tennis, Badminton Or Similar Rackets

Exports from India

In 2022, overseas shipments of tennis, badminton or similar rackets increased by 113% to X units for the first time since 2018, thus ending a three-year declining trend. Over the period under review, exports showed a buoyant increase. The pace of growth was the most pronounced in 2018 when exports increased by 3,164%. As a result, the exports attained the peak of X units. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, tennis and badminton rackets exports soared to $X in 2022. Overall, exports recorded a significant expansion. The pace of growth appeared the most rapid in 2018 when exports increased by 4,287% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Nepal (X units), the UK (X units) and the United States (X units) were the main destinations of tennis and badminton rackets exports from India, together comprising 62% of total exports. The Netherlands, Australia, Bangladesh and the United Arab Emirates lagged somewhat behind, together comprising a further 26%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Netherlands (with a CAGR of +67.2%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for tennis, badminton or similar rackets exports from India, comprising 35% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 13% share of total exports. It was followed by the UK, with a 13% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled +55.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+38.8% per year) and the UK (+29.9% per year).

Export Prices by Country

The average tennis and badminton rackets export price stood at $X per unit in 2022, picking up by 28% against the previous year. In general, the export price continues to indicate buoyant growth. The pace of growth appeared the most rapid in 2021 an increase of 86% against the previous year. Over the period under review, the average export prices reached the peak figure in 2022 and is likely to see steady growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Bangladesh ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+14.4%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Tennis, Badminton Or Similar Rackets

Imports into India

In 2022, approx. X units of tennis, badminton or similar rackets were imported into India; with an increase of 8.7% compared with the previous year's figure. In general, imports posted significant growth. The most prominent rate of growth was recorded in 2015 when imports increased by 139%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, tennis and badminton rackets imports declined to $X in 2022. Overall, imports enjoyed a prominent increase. The most prominent rate of growth was recorded in 2021 with an increase of 80%. As a result, imports attained the peak of $X, and then declined in the following year.

Imports by Country

In 2022, China (X units) was the main supplier of tennis and badminton rackets to India, accounting for a 95% share of total imports. It was followed by Singapore (X units), with a 1.8% share of total imports. The third position in this ranking was taken by Japan (X units), with a 1.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +20.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+26.5% per year) and Japan (+27.1% per year).

In value terms, the largest tennis and badminton rackets suppliers to India were China ($X), Japan ($X) and Singapore ($X), together accounting for 88% of total imports.

Among the main suppliers, Japan, with a CAGR of +29.8%, saw the highest rates of growth with regard to 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

In 2022, the average tennis and badminton rackets import price amounted to $X per unit, falling by -13.9% against the previous year. Over the period under review, the import price faced a abrupt slump. The pace of growth appeared the most rapid in 2016 when the average import price increased by 71%. The import price peaked at $X per unit in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+2.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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