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

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

The Southeast Asian tennis and badminton rackets market surged to $X in 2022, with an increase of 52% against the previous year. In general, consumption recorded strong growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Tennis, Badminton Or Similar Rackets in South-Eastern Asia

In value terms, tennis and badminton rackets production expanded slightly to $X in 2022 estimated in export price. Overall, production recorded a abrupt slump. The pace of growth appeared the most rapid in 2013 with an increase of 42% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

Exports of Tennis, Badminton Or Similar Rackets

Exports in South-Eastern Asia

In 2022, approx. X units of tennis, badminton or similar rackets were exported in South-Eastern Asia; with a decrease of -28% against the year before. In general, exports saw a perceptible descent. The most prominent rate of growth was recorded in 2021 with an increase of 88% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, tennis and badminton rackets exports declined to $X in 2022. Total exports indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +3.1% 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 +67.7% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 84% against the previous year. As a result, the exports attained the peak of $X, and then declined in the following year.

Exports by Country

Singapore was the major exporting country with an export of about X units, which recorded 57% of total exports. Cambodia (X units) held a 19% share (based on physical terms) of total exports, which put it in second place, followed by Vietnam (11%) and Myanmar (5.4%). The following exporters - Malaysia (X units) and Thailand (X units) - together made up 6.9% of total exports.

From 2012 to 2022, average annual rates of growth with regard to tennis and badminton rackets exports from Singapore stood at -5.9%. At the same time, Cambodia (+55.5%), Myanmar (+51.5%), Thailand (+10.6%) and Malaysia (+2.8%) displayed positive paces of growth. Moreover, Cambodia emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +55.5% from 2012-2022. By contrast, Vietnam (-10.0%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Cambodia, Myanmar, Thailand and Malaysia increased by +19, +5.4, +2.4 and +1.7 percentage points, respectively.

In value terms, Singapore ($X) remains the largest tennis and badminton rackets supplier in South-Eastern Asia, comprising 64% of total exports. The second position in the ranking was taken by Cambodia ($X), with a 19% share of total exports. It was followed by Myanmar, with an 8.7% share.

From 2012 to 2022, the average annual growth rate of value in Singapore totaled +2.7%. In the other countries, the average annual rates were as follows: Cambodia (+62.0% per year) and Myanmar (+68.0% per year).

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per unit, with an increase of 26% against the previous year. Over the period under review, the export price continues to indicate a resilient expansion. The most prominent rate of growth was recorded in 2018 an increase of 70% against the previous year. Over the period under review, the export prices attained the maximum in 2022 and is likely to continue growth in the immediate term.

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 Myanmar ($X per unit), while Thailand ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Myanmar (+10.9%), while the other leaders experienced more modest paces of growth.

Imports of Tennis, Badminton Or Similar Rackets

Imports in South-Eastern Asia

In 2022, purchases abroad of tennis, badminton or similar rackets increased by 48% to X units, rising for the third year in a row after two years of decline. Overall, imports continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 53% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, tennis and badminton rackets imports soared to $X in 2022. In general, imports recorded a measured increase. The most prominent rate of growth was recorded in 2021 with an increase of 66%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

The countries with the highest levels of tennis and badminton rackets imports in 2022 were Vietnam (X units), Malaysia (X units) and Indonesia (X units), together finishing at 67% of total import. It was distantly followed by Thailand (X units), Singapore (X units) and the Philippines (X units), together comprising a 32% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of +26.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), Singapore ($X) and Vietnam ($X) constituted the countries with the highest levels of imports in 2022, with a combined 72% share of total imports. Indonesia, Thailand and the Philippines lagged somewhat behind, together accounting for a further 27%.

Indonesia, with a CAGR of +15.0%, saw the highest rates of growth with regard to the value of imports, among 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 South-Eastern Asia amounted to $X per unit, falling by -16.5% against the previous year. In general, the import price saw a pronounced shrinkage. The pace of growth appeared the most rapid in 2019 when the import price increased by 19%. Over the period under review, import prices attained the peak figure at $X per unit in 2013; however, from 2014 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 ($X per unit), while the Philippines ($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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