The demand for tennis equipment in Korea is anticipated to be worth USD 127.4 million in 2023 and reach USD 171.3 million by 2033. Tennis equipment sales in Korea are projected to expand at a CAGR of 3%.
Tennis competitions and burgeoning tennis enthusiasts in Korea have increased interest in and demand for tennis equipment. The rise of data-driven and ecologically conscious sports combined with racket innovations, and environment-friendly production are significant contributors to the expansion of tennis equipment.
Trends Observed around the Increasing Demand for Tennis Equipment in Korea
| Attributes | Details |
|---|---|
| Demand Analysis (2023) | USD 127.4 million |
| Demand Forecast (2033) | USD 171.3 million |
| CAGR Estimation (2023 to 2033) | 3.0% |
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The section includes a comprehensive segmentation study of tennis equipment in Korea. Manufacturers are paying close attention to tennis equipment trends and the growing demand for tennis racquets. Equivalently, the individual segment surpasses the buyer type segment.
The tennis racquets segment has the most significant share of tennis equipment sales in Korea, accounting for the majority of the various product kinds. The domination can be traced to multiple causes, including the sport's popularity, the emphasis on player performance, and the aspirational nature of the equipment.
Tennis racquets are crucial tools for players, and the quest for cutting-edge technology and high-quality materials has resulted in strong demand. Professional tennis players' marketing and endorsement significantly impact customer preferences.
| Segment | Racquets |
|---|---|
| Share | 23.1% |
Tennis racquets are popular because they work as a symbol of talent and prestige. The prominence of the racquet segment is due to a combination of cultural relevance, performance emphasis, and marketing techniques within the tennis equipment industry in Korea.
Tennis equipment for Individuals has a substantial industry share in Korea's tennis equipment sector. Multiple factors contribute to the individual segment's dominance. Tennis is popular among people of all ability levels, from beginners to advanced players. As a result, demand for individual tennis equipment such as racquets, balls, and clothing remains significant.
| Segment | Individual |
|---|---|
| Share | 92.1% |
Growing health and fitness trends in Korea have increased involvement in recreational sports such as tennis, fueling demand for individual equipment. Individual tennis equipment's versatility appeals to a broad consumer base, including beginner and enthusiast players.
Tennis clubs and facilities require institutional adoption of tennis equipment. The individual segment remains the leading force for tennis equipment in Korea due to its broad consumer appeal and continuous excitement for the sport.
The competitive environment of tennis equipment in Korea is driven by numerous significant aspects, including brand recognition, pricing, and the popularity of tennis.
Key tennis equipment brands have a substantial presence in the ecosystem of Korea. They are well-known for producing high-quality racquets, strings, balls, and tennis gear.
Korea also has its domestic tennis equipment brand. Local tennis equipment brands frequently focus on creating affordable equipment and may have a dedicated customer base.
Tennis equipment is distributed mainly through sporting goods merchants such as Decathlon, Lotte Mart, and local sports shops. They carry diverse brands and products, making them indispensable in the supply chain
Key Observations with Tennis Equipment in Korea
Dunlop Korea:
Dunlop is a well-known brand that manufactures tennis balls, racquets, strings, and accessories. Dunlop Korea is a subsidiary in Korea that is in charge of marketing and distributing Dunlop tennis items.
Yonex Korea:
Although Yonex is a brand in Japan, it is well-known in Korea. They make tennis racquets, strings, and other tennis equipment. Yonex Korea is in charge of the company's operations in the country.
Wilson Korea:
Wilson is a renowned tennis equipment manufacturer well recognized for its racquets, strings, balls, and apparel. Wilson Korea is in charge of marketing and distributing Wilson's tennis equipment in Korea.
Li-Ning:
Li-Ning is a prominent sports equipment brand in China in the tennis industry. They make tennis clothing, shoes, and accessories. Li-Ning could develop a foothold in Korea.
ProKennex Korea:
ProKennex is a racquet sports equipment brand that specializes in tennis racquets. Through local distributors, they may have a presence in Korea.
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| Attributes | Details |
|---|---|
| Estimated Valuation (2023) | USD 127.4 million |
| Projected Valuation (2033) | USD 171.3 million |
| Anticipated CAGR (2023 to 2033) | 3% |
| Historical Analysis of Tennis Equipment in Korea | 2018 to 2022 |
| Demand Forecast for Tennis Equipment in Korea | 2023 to 2033 |
| Quantitative Units | Revenue in USD million and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Key Cities Analyzed While Studying Opportunities in Tennis Equipment in Korea | South Gyeongsang, North Jeolla, South Jeolla, Jeju, The rest of Korea |
| Key Companies Profiled for Tennis Equipment in Korea | Dunlop Korea; Wilson; Babolat; Head; Li-Ning; Yonex; Prince; ProKennex |
The anticipated landscape CAGR is 3% through 2033.
Demand for tennis equipment in Korea is likely to be USD 171.3 million by 2033.
Tennis equipment manufacturers in Korea are using local collaborations and e-commerce.
Racquets segment to grab a share of 23.1% for tennis equipment in Korea.
The individual segment to acquire a share of 92.1% through 2033.
| Market CAGR (2023 to 2033) | 8.5% |
|---|---|
| Market Size (2023) | USD 371.0 million |
| Market Size (2033) | USD 838.9 million |
| Estimated Market Size 2022 | USD 157.4 Million |
|---|---|
| Projected Market Size (2032) | USD 244.5 Million |
| Value CAGR (2022 to 2032) | 4.5% |
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Trends, Growth, and Opportunity Analysis of Tennis Equipment in Korea
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