Pickleball continues to see unprecedented growth as pickleball enthusiasts, young and old, flock to the courts. This is, of course, has led to fantastic opportunities in commercial markets, giving new and existing brands an opportunity to capitalize on rising equipment demand.
One tournament level pickleball player recently told us she’ll be spending her tournament winnings on more paddles. And as demand increases, so does innovation, with brands like Owl and Revolin introducing new material technology to the competitive paddle market.
And all signs show this industry is only getting started.
A Research & Markets report outlines the dynamic landscape of the global pickleball equipment market, which achieved a noteworthy valuation of USD 516.54 Million in 2022 and is poised to experience a commendable CAGR of 9.5% until 2028.
This growth narrative mirrors the increasing popularity of the sport and the abundant opportunities it presents for investors and enthusiasts alike.
Several key factors propel the market’s robust expansion. The sport’s simple yet engaging nature has resonated with a broad demographic, spanning from youth to older adults, establishing it as a universal pastime.
Innovations in equipment and heightened attention from established sports brands further contribute to the market’s dynamism.
Additionally, the sport’s evolution into organized and competitive play is fueling demand for specialized gear, pushing the boundaries of technology in pickleball equipment.
North America Leads
North America holds a unique position in the global market, spearheading the pickleball revolution.
The region’s market demand reflects a growing community of pickleball players supported by robust infrastructure and a vibrant culture of organized play.
The ascent of pickleball in North America signifies the sport’s expanding influence, poised to be a significant contributor to the global success of the market.
However, the market does face challenges, including a highly competitive landscape that pushes companies to differentiate through innovation and quality. Global supply chain vulnerabilities, weather-related events, and geopolitical tensions have affected manufacturing, leading to equipment shortages.
Evolving regional regulations for sporting goods pose complexities for manufacturers aiming to expand internationally, while maintaining technological innovation is expensive, and companies must protect their intellectual property from competitors.
This may prove to be beneficial for larger brands, like Franklin Sports, which have a leg up on research & development, logistics, and access to capital.
A variety of emerging trends are shaping the future of the pickleball equipment market. The eco-friendly shift sees manufacturers exploring sustainable materials and production methods, aligning with consumer preferences for environmentally conscious products.
Online retail channels continue to flourish, reflecting a digitized consumer base that prioritizes convenience and an extensive product selection.
Alternative Markets Capitalize Too
Let’s not forget about adjacent markets poised for similar growth trajectories. Sports Apparel will reach an estimated $248.1 billion globally, with Pickleball Clothing and Apparel carving out $690 Million by 2026.
Endemic brands like Adidas, Hanes Brand, New Balance, Sketchers, and Nike are all making moves in this space, with traditionally non-athletic brands like J. Crew partnering with Recess, a pickleball brand.
For more on the pickleball apparel market, click here.
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