Latin America and the Caribbean: Market for Tennis, Badminton Or Similar Rackets 2024

Market Size for Tennis, Badminton Or Similar Rackets in Latin America and the Caribbean

In 2022, the Latin American tennis and badminton rackets market increased by 73% to $X, rising for the second consecutive year after three years of decline. Over the period under review, consumption continues to indicate prominent growth. Over the period under review, the market attained the maximum level in 2022 and is likely to see steady growth in years to come.

Production of Tennis, Badminton Or Similar Rackets in Latin America and the Caribbean

In value terms, tennis and badminton rackets production dropped slightly to $X in 2022 estimated in export price. In general, production, however, continues to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2018 when the production volume increased by 315% against the previous year. Over the period under review, production hit record highs at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

Exports of Tennis, Badminton Or Similar Rackets

Exports in Latin America and the Caribbean

Tennis and badminton rackets exports soared to X units in 2022, increasing by 26% on 2021 figures. Over the period under review, exports posted a temperate increase. The growth pace was the most rapid in 2018 when exports increased by 74%. The volume of export peaked in 2022 and is likely to see steady growth in the immediate term.

In value terms, tennis and badminton rackets exports shrank markedly to $X in 2022. In general, exports, however, recorded a pronounced setback. The most prominent rate of growth was recorded in 2018 with an increase of 118%. As a result, the exports attained the peak of $X. From 2019 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Mexico represented the key exporter of tennis, badminton or similar rackets in Latin America and the Caribbean, with the volume of exports finishing at X units, which was near 80% of total exports in 2022. It was distantly followed by Brazil (X units) and Paraguay (X units), together achieving a 16% share of total exports. Chile (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to tennis and badminton rackets exports from Mexico stood at +14.8%. At the same time, Paraguay (+67.0%), Chile (+40.1%) and Brazil (+15.2%) displayed positive paces of growth. Moreover, Paraguay emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +67.0% from 2012-2022. While the share of Mexico (+49 p.p.), Brazil (+6.6 p.p.), Paraguay (+5.3 p.p.) and Chile (+2.2 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) remains the largest tennis and badminton rackets supplier in Latin America and the Caribbean, comprising 64% of total exports. The second position in the ranking was taken by Brazil ($X), with a 16% share of total exports. It was followed by Paraguay, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Mexico totaled +8.7%. The remaining exporting countries recorded the following average annual rates of exports growth: Brazil (+13.2% per year) and Paraguay (+64.6% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per unit in 2022, waning by -50.5% against the previous year. Overall, the export price continues to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2018 when the export price increased by 25% against the previous year. Over the period under review, the export prices reached the maximum at $X per unit in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Chile (+6.6%), while the other leaders experienced a decline in the export price figures.

Imports of Tennis, Badminton Or Similar Rackets

Imports in Latin America and the Caribbean

In 2022, overseas purchases of tennis, badminton or similar rackets increased by 71% to X units, rising for the second consecutive year after three years of decline. Overall, imports continue to indicate a strong expansion. The pace of growth appeared the most rapid in 2021 when imports increased by 149% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are likely to continue growth in the near future.

In value terms, tennis and badminton rackets imports skyrocketed to $X in 2022. Over the period under review, imports posted a prominent expansion. The growth pace was the most rapid in 2021 with an increase of 132% against the previous year. The level of import peaked in 2022 and is likely to continue growth in years to come.

Imports by Country

Chile was the largest importer of tennis, badminton or similar rackets in Latin America and the Caribbean, with the volume of imports finishing at X units, which was approx. 49% of total imports in 2022. It was distantly followed by Brazil (X units) and Mexico (X units), together mixing up a 36% share of total imports. The following importers - Argentina (X units), Colombia (X units), Panama (X units) and Paraguay (X units) - together made up 8.6% of total imports.

From 2012 to 2022, average annual rates of growth with regard to tennis and badminton rackets imports into Chile stood at +20.3%. At the same time, Paraguay (+22.0%), Mexico (+9.2%), Brazil (+1.7%) and Panama (+1.2%) displayed positive paces of growth. Moreover, Paraguay emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +22.0% from 2012-2022. Colombia experienced a relatively flat trend pattern. By contrast, Argentina (-2.7%) illustrated a downward trend over the same period. Chile (+35 p.p.) and Mexico (+2.9 p.p.) significantly strengthened its position in terms of the total imports, while Colombia, Argentina and Brazil saw its share reduced by -2.3%, -4.2% and -13.5% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X), Chile ($X) and Mexico ($X) constituted the countries with the highest levels of imports in 2022, together accounting for 80% of total imports.

Brazil, with a CAGR of +20.2%, 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 Latin America and the Caribbean amounted to $X per unit, dropping by -18.3% against the previous year. Import price indicated a notable increase from 2012 to 2022: its price increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, tennis and badminton rackets import price decreased by -23.8% against 2020 indices. The most prominent rate of growth was recorded in 2020 when the import price increased by 38%. As a result, import price reached the peak level of $X per unit. From 2021 to 2022, the import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Argentina ($X per unit), while Colombia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+18.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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