Report Update Nov 1, 2024

Philippines - Tennis, Badminton or Similar Rackets - Market Analysis, Forecast, Size, Trends and Insights

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Philippines: Market for Tennis, Badminton Or Similar Rackets 2024

Market Size for Tennis, Badminton Or Similar Rackets in the Philippines

In 2022, the Philippine tennis and badminton rackets market increased by 102% to $X, rising for the second consecutive year after three years of decline. In general, consumption showed a prominent increase. Tennis and badminton rackets consumption peaked at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Exports of Tennis, Badminton Or Similar Rackets

Exports from the Philippines

In 2022, shipments abroad of tennis, badminton or similar rackets decreased by -83.9% to X units, falling for the second consecutive year after two years of decline. In general, exports, however, enjoyed significant growth. Over the period under review, the exports hit record highs at X units in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, tennis and badminton rackets exports contracted remarkably to $X in 2022. Overall, exports, however, enjoyed significant growth. Over the period under review, the exports attained the maximum at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

Japan (X units) was the main destination for tennis and badminton rackets exports from the Philippines, accounting for a 98% share of total exports. It was followed by Australia (X units), with a 1.7% share of total exports.

From 2013 to 2022, the average annual rate of growth in terms of volume to Japan amounted to -73.3%.

In value terms, Japan ($X) remains the key foreign market for tennis, badminton or similar rackets exports from the Philippines, comprising 100% of total exports. The second position in the ranking was taken by Australia ($X), with a 0.2% share of total exports.

From 2013 to 2022, the average annual rate of growth in terms of value to Japan stood at -25.2%.

Export Prices by Country

The average tennis and badminton rackets export price stood at $X per unit in 2022, surging by 320% against the previous year. Overall, the export price enjoyed buoyant growth. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per unit), while the average price for exports to Australia stood at $X per unit.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+180.9%).

Imports of Tennis, Badminton Or Similar Rackets

Imports into the Philippines

In 2022, purchases abroad of tennis, badminton or similar rackets increased by 135% to X units, rising for the third year in a row after two years of decline. In general, imports continue to indicate a prominent expansion. Imports peaked at X units in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, tennis and badminton rackets imports surged to $X in 2022. Overall, total imports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +7.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +86.9% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X units) was the main supplier of tennis and badminton rackets to the Philippines, with a 97% share of total imports. It was followed by Hong Kong SAR (X units), with a 0.1% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +12.0%.

In value terms, China ($X) constituted the largest supplier of tennis, badminton or similar rackets to the Philippines, comprising 83% of total imports. The second position in the ranking was held by Hong Kong SAR ($X), with a 0.3% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China stood at +11.7%.

Import Prices by Country

In 2022, the average tennis and badminton rackets import price amounted to $X per unit, waning by -28.1% against the previous year. Over the period under review, the import price showed a pronounced setback. The growth pace was the most rapid in 2018 an increase of 133%. The import price peaked at $X per unit in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Hong Kong SAR ($X per unit), while the price for China stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (-0.2%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for tennis, badminton or similar rackets in the world?

China remains the largest tennis and badminton rackets consuming country worldwide, accounting for 38% of total volume. Moreover, tennis and badminton rackets consumption in China exceeded the figures recorded by the second-largest consumer, the United States, twofold. The third position in this ranking was occupied by Japan, with a 4.9% share.

What are the largest producers of tennis, badminton or similar rackets in the world?

The country with the largest volume of tennis and badminton rackets production was China, accounting for 90% of total volume. Moreover, tennis and badminton rackets production in China exceeded the figures recorded by the second-largest producer, Japan, more than tenfold.

What are the leading suppliers of tennis, badminton or similar rackets to the Philippines?

In value terms, the largest tennis and badminton rackets suppliers to the Philippines were Malaysia, Hong Kong SAR and India, with a combined 96% share of total imports.

What are the leading importers of tennis, badminton or similar rackets from the Philippines?

In value terms, New Zealand, the United States and Switzerland were the largest markets for tennis and badminton rackets exported from the Philippines worldwide, with a combined 84% share of total exports.

What is the average export price for tennis, badminton or similar rackets in the Philippines?

The average tennis and badminton rackets export price stood at $25 per unit in 2021, reducing by -62.1% against the previous year.

What is the average import price for tennis, badminton or similar rackets in the Philippines?

The average tennis and badminton rackets import price stood at $8.1 per unit in 2021, jumping by 253% against the previous year.

This report provides an in-depth analysis of the market for tennis and badminton rackets in the Philippines. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 32301560 - Tennis, badminton or similar rackets, whether or not strung

Country coverage:

Philippines

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in the Philippines
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023