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The tennis apparel market in Americas is estimated to grow at a CAGR of 3.7% between 2022 and 2027. The size of the market is forecast to increase by USD 82.08 million. The growth of the market depends on serval factors, including the increasing awareness about the health benefits of sports and the growing adoption of healthy lifestyles, the expansion of the retail and online distribution landscape, and the adoption of a celebrity branding marketing strategy.
This report extensively covers market segmentation by distribution channel (offline and online) and end-user (men, women, and children) and geography Americas. It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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Technavio categorizes the tennis apparel market in Americas as a part of the global apparel, accessories, and luxury goods market, within the textiles, apparel, and luxury goods market. The parent, global apparel, accessories, and luxury goods market covers products and companies engaged in the manufacturing/marketing of apparel, accessories, and luxury goods. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.
The increasing awareness about the health benefits of sports and the growing adoption of a healthy lifestyle are notably driving the market growth, although factors such as the poor infrastructure for tennis may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Key Tennis Apparel Market Driver In Americas
The increasing awareness about the health benefits of sports and the growing adoption of a healthy lifestyle are key factors driving the growth of the tennis apparel market in Americas. Hectic work schedules and the associated increase in stress levels are increasing the prevalence of health issues, especially among the urban population. This, in turn, encourages people to exercise daily to remain healthy and reduce the risk of developing various chronic medical conditions such as obesity, heart disease, diabetes, and depression. Moreover, the growing awareness of healthy lifestyles is also encouraging people to stay active in various sports. Sedentary lifestyles, excessive workloads resulting in increased stress levels, and improper food habits lead to serious and chronic medical conditions.
Individuals across the Americas are voluntarily staying active in various sports and exercises to stay fit and avoid obesity and CVDs. The increasing prevalence of chronic diseases and growing awareness about the benefits of staying fit are increasing the adoption of various sports activities, including tennis, by a large population of countries in the Americas. Playing tennis acts as a high-intensity interval training workout that helps in improving metabolic function, lowering body fat, improving muscle flexibility, reducing the risk of developing CVDs and type-2 diabetes, and increasing aerobic fitness. Such advantages of playing tennis are driving the number of tennis players in the Americas, which, in turn, is expected to drive the tennis apparel market in Americas during the forecast period.
Significant Tennis Apparel Market Trend In Americas
The emergence of blockchain technology in the apparel industry is the primary trend in the tennis apparel market growth in Americas. Blockchain is a secure method of storing information that is secured by the cryptography process, which makes blockchain resilient to hacking and outside access. Within the blockchain, various information, including the date, location, time, company, and person is stored in blocks, and each block of information is interconnected with complex mathematical and technical features. The global apparel industry is witnessing an increased threat from counterfeit products.
Therefore, to which several companies in the apparel industry are focusing on integrating blockchain technology into their supply chain to combat blockchain technology. Moreover, it is estimated that counterfeit products cause the loss of billions of dollars of revenue for genuine product manufacturing companies each year. Therefore, several globally known brands of tennis apparel are searching for solutions to tackle counterfeit products. Thus, considering the use of blockchain technology in the battle against counterfeit products, vendors in the market in focus are likely to adopt blockchain technology during the forecast period.
Major Tennis Apparel Market Challenge In Americas
Poor infrastructure for tennis is a major challenge to the growth of the tennis apparel market in Americas. Several countries in the Americas such as Mexico, Brazil, and several other South American countries do not have adequate infrastructure for all types of sports, including tennis. Moreover, a majority of the people in such countries generally pursue popular sports, such as football. Therefore, the market for other sports becomes limited in terms of revenue growth. Several South American countries have the resources to support a few sports, while other sports do not have the scope to grow and thrive. South American countries receive significantly lower development program expenditure when compared with other regions, by the International Tennis Federation.
However, the problem of infrastructure is not just limited to countries in South American countries. Some of the developed countries such as Canada also lack the required infrastructure for tennis. The country has only one covered tennis court per 50,000 individuals. Such a lack of tennis infrastructure in countries across the Americas is primarily hindering the growth of the tennis apparel market in the region during the forecast period.
Key Tennis Apparel Market In Americas Customer Landscape
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Tennis Apparel Market in Americas Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
babolat.com - The company offers tennis apparel such as Pure Aero Unstrung Tennis Racket. Also, through this segment, the company offers products and services such as tennis rackets, tennis swings, tennis shoes, badminton rackets, balls and shoes, padel rackets, balls and shoes, bags, and clothing for men, women, and children.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the offline segment will be significant during the forecast period. In this segment, departmental stores, hypermarkets, and supermarkets are organized retail stores that offer various sporting equipment and several other products. Therefore, a large number of individuals across the Americas prefer these stores as they carry a large portfolio of products, allow a closer evaluation of products, and provide consumers with the required support and information via expert customer service personnel. These stores offer a wide variety of products at affordable or discounted prices that appeal to a wide range of consumers. A few examples of such stores include Walmart and Kohl Inc. Thus, with the availability of tennis apparel at a competitive price than online, the offline segment of the market is anticipated to witness steady growth during the forecast period.
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The offline segment was valued at USD 349.90 million in 2017 and continue to grow by 2021. The offline segment of the market includes sales made through brick-and-mortar structures such as dealer stores and retail stores. Dealer stores are where consumers purchase products from manufacturers at wholesale prices on behalf of a company. Several individuals prefer to purchase apparel through brick-and-mortar structures as they can check the product quality physically and can ensure the product is worth the value for money. Considering this, several vendors in the market are focusing on expanding and enlarging the number of dealer stores across the Americas. Such emphasis on opening brick-and-mortar structures is anticipated to drive the offline segment of the market during the forecast period.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Tennis Apparel Market Scope In Americas
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Report Coverage |
Details |
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Page number |
155 |
|
Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 3.7% |
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Market growth 2023-2027 |
USD 82.08 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
3.64 |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
adidas AG, ANTA Sports Products Ltd., ASICS Corp., Babolat, Bjorn Borg AB, BloqUV, FILA Holdings Corp., Jofit LLC, Loriet LLC, Lotto sport Italia Spa, Mizuno Corp., New Balance Athletics Inc., Nike Inc., PUMA SE, Serigo Tacchini Operations Inc., Solinco Sports, Sumitomo Rubber Industries Ltd., Under Armour Inc., Uniqlo Co. Ltd., and Yonex Co. Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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