Market players are focusing on league sponsorships in relation to pickleball sports for brand promotion to gain traction with rising competition.
ROCKVILLE, MD / ACCESSWIRE / October 22, 2020 / The global pickleball equipment market will record a stellar CAGR of 10% during the forecast period (2020-2030). The growing popularity of pickleball in the Europe market and the rise of new market prospects in the APAC region is the prime factor boosting the market growth. The market is more consolidated in North America and Europe because of the high number of companies in these regions.
"Experimental buying habits of intermediate and beginners players have boosted the pickleball paddles sales, further prompted by novel product launches along with differentiated offerings." says a Fact.MR analyst.
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Pickleball Equipment Market - Key Takeaways
- By product, the paddles category will be accounting for two-thirds of the overall market share, during 2020-2030.
- In terms of sales channel, the sales through independent sports outlets for pickleball equipment are poised to increase at a striking CAGR of 9.5% during 2020-2030.
- In terms of buyer, the individual buyers will hold over 50% of the overall market share over the assessment period.
- Europe, led by the UK will foresee the most lucrative region throughout the projected period.
Pickleball Equipment Market - Drivers
- A growing number of professional players and pickleball clubs are generating market prospects.
- The growing acceptance of digital platforms ascertaining regional availability and global presence is boosting the market expansion.
- Increasing affluent and aspiring households have amplified their expenditure on equipment for various outdoor and indoor sports, thus potentially boosting the market demand.
Pickleball Equipment Market - Constraints
- Media does not endorse pickleball tournaments and games, this has ensued in its limited popularity in APAC and the MEA.
- The availability of cheap pickleball equipment might hamper market growth.
Anticipated Market Impact by COVID-19 Outbreak
The pickleball equipment market has been notably affected due to the COVID-19 outbreak. Imposed lockdown and stringent social distancing measures have ensued in the diminished activity and supply chain disruptions, across nations. However, the market is likely to experience an upward trajectory in the approaching years.
Explore the Pickleball Equipment market comprising of 163 figures and 70 data tables, along with the table of contents. You can find a detailed market segmentation on https://www.factmr.com/report/810/pickleball-equipment-market
Competition Landscape
Major companies operating in the global pickleball equipment market are ASICS, HEAD N.V., Adidas A.G., GAMMA Sports, Babolat, and Pickle-Ball Inc. Companies in the market are seeking for sponsoring pickleball tournaments for the branding and promotion of their products to expand their market reach.
More on the Report
The Fact.MR's market research report provides in-depth insights into the pickleball equipment market. The market is scrutinized on the basis of product (paddles, balls, and accessories), buyer (individual, institutional, and promotional buyers), and sales channel (independent sports outlets, franchised sports outlets, modern retail, and online retail), across seven major regions (North America, Europe, East Asia, South Asia, Oceania, Latin America, and Middle East & Africa (MEA).
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SOURCE: Fact.MR