Outlook of the badminton equipment market in APAC
The badminton equipment market in APAC will grow at a steady rate during the forecast period and will post a moderate CAGR of around 3% by 2020. According to the market analysts at Technavio, a major growth-promoting factor for this market will be the celebrity endorsements of new product lines by vendors. It has been observed that consumers tend to purchase products that are promoted by their favorite players. Badminton champions like Saina Nehwal and Lin Dan often launch new products of international vendors, which aids in increasing their sales revenues. Additionally, promotional strategies like the availability of discounts and lucky draws will also lead to the growth of this market during the forecast period.
A significant trend spurring the growth prospects for this market is the introduction of improved quality products with additional features. To increase profit margins and customer base, the vendors occasionally launch new and upgraded versions of their badminton equipment like racquets based on design, performance, and technology. Numerous smart racquets are available in the market that provides real-time information about exercise data of every game and training. Such information can be used by the players to improve their performance. In addition, this data can also be transferred through Bluetooth to other systems. The SOTX smart racquet is one such technologically advanced product that gives players information about their shots.
Product segmentation and analysis of the badminton equipment market in APAC
- Badminton racquets
- Badminton shoes
- Shuttlecocks
During 2015, the badminton racquets segment dominated the market and accounted for approximately 40% of the total market share in terms of revenue. Much of this segment’s growth can be attributed to the expensive pricing of badminton racquets. Since racquets are more of a necessity to play the sport, an increase in its price will lead to the strong growth of the market segment.
Segmentation by retail formats and analysis of the badminton equipment market in APAC
- Department and discount stores
- Online retail
- Specialty and sports shops
During 2015, the specialty and sports shops segment dominated the badminton equipment market in APAC by accounting for a market share of around 46%. Most consumers prefer buying badminton equipment from such shops as they have a large portfolio of products and provide the required support and information to consumers.
Competitive landscape and key vendors
The badminton equipment market in APAC is monopolized by a few prominent vendors and is characterized by the presence of leading international players like Ashaway and Sports Direct. Due to intense competition among the companies, the market remains exclusive for the leading vendors. The vendors that have the capability to provide innovative solutions as part of their product portfolios will gain a competitive edge over their peers.
Key vendors in the market are -
- Ashaway
- Babolat
- Li-Ning Company Limited
- Sports Direct
- YONEX
The other prominent vendors in this market are Amer Sports, ASICS, Bedini, Dunlop Sports Group Americas, PACIFIC, Pointfore, ProKennex, RUBY GLAMOUR, Tatt Seng Sporting Goods, Tecnifibre, and Trump Sports.
Key questions answered in the report include
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the badminton equipment market in APAC?
- What are the key market trends impacting the growth of the badminton equipment market in APAC?
- What are the challenges to market growth?
- Who are the key vendors in the badminton equipment market in APAC?
- What are the market opportunities and threats faced by the vendors in the badminton equipment market in APAC?
- Trending factors influencing the market shares of APAC.
- What are the key outcomes of the five forces analysis of the badminton equipment market in APAC?
Technavio also offers customization on reports based on specific client requirement.
Related reports