Shuttlecocks Segment to Record the Fastest Growth Rate in the Global Badminton Equipment Market From 2016-2020, Reports Technavio
By Business Wire News
By Business Wire News
According to the latest market study released by Technavio, the global badminton equipment marketis expected to surpass USD 1 billion in revenue by 2020, growing at a rate of over 2% during the forecast period.
This research report titled ‘Global Badminton Equipment Market 2016-2020’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
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Based on product type, the global badminton equipment market is classified into the following four segments:
- Badminton racquets
- Badminton shoes
- Other badminton equipment
Global badminton racquets market: largest segment
Apart from the fact that badminton racquets are essential for the sport, they are also highly priced. This high-pricing factor has led to the dominance of the global badminton racquets segment in the global badminton equipment market in 2015. This segment is predicted to dominate the market during the forecast period as well.
APAC and Europe are the two leading regions in the global badminton equipment market. The wide popularity of badminton in APAC and Europe is the primary reason for these regions to account for the majority of the global badminton equipment market’s share, which will continue during the forecast period. These regions are expected to continue to maintain a strong foothold in the market due to the growing number of badminton tournaments that are hosted by them, and a rise in the number of international badminton players.
Arushi Thakur, a lead analyst at Technavio for retail goods and services, says, “The market in MEA is also expected to grow during the forecast period due to the Dubai World Superseries Finals taking place in the region.”
Global shuttlecocks market: second-largest and also the fastest-growing segment
Although the global shuttlecocks market occupied the second-highest share of the global badminton equipment market in 2015, this segment is expected to grow at the fastest pace during the forecast period. The major reason for the segment to be experiencing such a fast growth rate is the product’s high replacement rate.
Two types of shuttlecocks are available in the market: feathered and synthetic. The feathered shuttlecocks are more brittle in comparison to their synthetic counterparts and hence need to be replaced frequently. Feathered shuttlecocks also need to be properly humidified at least four hours prior to the start of a badminton game in order to render them less susceptible to breakage. This is the major reason why most vendors are shifting their focus from feathered shuttlecocks to synthetic ones in recent times. “Feathered shuttlecock is also almost priced as same as that of a synthetic shuttlecock, but the latter is a much more durable option. This factor plays a major role in increasing the popularity of synthetic shuttlecocks,” says Arushi.
Global badminton shoes market: third-largest segment
The global badminton shoes market occupied the third-largest share of the global badminton equipment market in 2015, and Technavio analysts expect this market to continue with the same growth trajectory over the next four years. The market for badminton shoes is expected to grow at a slow pace during the forecast period, mostly because of the expensive pricing of these products, and also because most casual badminton players do not prefer to invest in badminton shoes.
Badminton shoes are normally lightweight, with soles made of rubber with non-marking materials. Compared to the normal running shoes, badminton shoes have little lateral support. This is due to the fact that the sport requires powerful lateral movements and shoes that provide a higher lateral support could easily injure the player. Badminton shoes also have a very thin sole, which helps lower a player’s center of gravity, making them less susceptible to injuries. Victor and YONEX are two of the most prominent vendors for badminton shoes.
The top vendors highlighted by Technavio’s research analysts in this report are:
- Sports Direct
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