The global badminton equipment and products market was valued at USD 8.7 billion in 2021 and is expected to expand at a CAGR of 7.2% from 2022 to 2030. The growing popularity of badminton due to its low cost and ease of accessibility is driving the growth of the market. Additionally, the global badminton market is witnessing a surge in demand due to the rise in investments from governments and organizations to promote the sport. For instance, in May 2021, the Badminton World Federation (BWF) announced a partnership with Yonex for a three-year period, through which Yonex will become the Official Equipment Supplier of the BWF. This partnership aims to provide support to the development of the sport and its players and create greater exposure and visibility of badminton.

The demand for advanced badminton equipment and products is increasing due to the growing awareness and the rising trend of professional badminton playing. For instance, in August 2020, Yonex launched the new Voltric Force, a powerful badminton racket designed for offensive players. The unique Tri-Voltage System provides maximum power, while the combination of Isometric Square Head Shape, Nanoscience Technology and Aero Frame delivers greater speed and stability.

Furthermore, the increasing number of badminton academies is leading to the growth of the market, as more people are taking up badminton as a profession. For instance, in May 2021, Gopichand Badminton Academy launched its new branch in Kota, India. This branch is equipped with 17 badminton courts, modern infrastructure, and latest training equipment for young players.

The badminton equipment and products market is highly competitive, with a few major players accounting for a significant share of the market. Major players are focusing on product innovation and marketing strategies to gain a larger share of the market. For instance, in June 2021, Li-Ning launched a new range of badminton products, with the aim to provide a unique experience to badminton players. The product range includes rackets, bags, strings, shuttles, and apparel. Additionally, the company is also focusing on digital marketing initiatives to strengthen its brand presence and create awareness about its products.

The badminton racquets segment held the largest market share of around 38.0% in 2020. Factors such as increasing demand for durable badminton racquets, rising popularity of badminton as a sport, and increasing disposable incomes of consumers are driving the demand for badminton racquets. According to an article published by The Guardian, in February 2021, badminton is the most popular sport in the UK after football. Furthermore, technological advancements in badminton racquets such as the use of light-weight materials and highly durable stringing materials are providing an impetus to the growth of the market.

The shuttlecocks segment is anticipated to grow at the highest CAGR of 8.2% during the forecast period. Growing demand for shuttlecocks is mainly attributed to the growing popularity of the game, especially among the young generation. According to an article published by China Daily, in February 2021, badminton is one of the most popular sports in China and the country has produced some of the world’s top badminton players. In addition, the increasing number of badminton tournaments and leagues has led to a surge in demand for shuttlecocks.

The offline segment accounted for the majority of the global badminton equipment and products market share in 2020 and is expected to remain dominant throughout the forecast period. The presence of many specialist stores and retailers in the market, such as Decathlon and Pro Direct, that offer a wide range of badminton-specific products, is driving the demand for offline distribution channels. The offline segment is further classified into supermarkets & hypermarkets, specialty stores, and others. The supermarkets & hypermarkets segment is expected to remain the largest in the offline segment due to the presence of a wide range of badminton products and equipment at competitive prices.

The online segment is expected to witness the highest growth rate during the forecast period owing to the increasing accessibility of the internet, rising popularity of online shopping, and the availability of a wide variety of badminton products at discounted prices. The rising popularity of e-commerce websites, such as Amazon and Flipkart, has made it easier for customers to purchase badminton equipment and products from the comfort of their homes. In addition, the emergence of several online sports stores, such as Badminton Bay, is further propelling the growth of the online segment.

The badminton equipment market is segmented into rackets, shuttlecocks, apparel, bags and others. The rackets segment accounted for the largest revenue share of 35.3% in the year 2022. The increasing global popularity of badminton and the growing consumer awareness of the sport is driving the demand for badminton rackets. Additionally, increasing product innovation and the launch of new models of rackets by leading players such as Yonex and Li-Ning are also driving the segment growth.

The shuttlecocks segment is estimated to expand at the highest CAGR of 5.4% over the forecast period. The increasing popularity of badminton and the rising demand for professional level equipment are the key drivers of the segment. The growing demand for feather shuttlecocks, owing to its superior performance, is another factor driving the segment. The apparel segment is expected to expand at a CAGR of 4.3% during the forecast period. Increasing demand for branded badminton apparel and accessories among the youth population is driving the segment. Furthermore, increasing awareness regarding the importance of sports apparel is also driving the segment.

Asia Pacific dominated the market and accounted for the largest revenue share of over 40.4% in 2022. This growth is attributed to the presence of several leading badminton equipment manufacturing companies in the region, such as Yonex, Li-Ning, and Wilson Sports. The region is also home to a large population of badminton enthusiasts, which is driving the demand for badminton equipment and products. Moreover, the growing participation in badminton tournaments in the region is further expected to propel the demand for badminton equipment and products.

North America is expected to witness the second-fastest growth in the coming years. The increasing popularity of badminton in the region, especially among young people, is expected to drive the growth of the market. Moreover, the rising number of organized badminton tournaments in the region is further expected to fuel the growth of the market. For instance, in June 2021, the Professional Badminton Association launched its first-ever Badminton tournament in the U.S.

In this part of the badminton equipment and products business plan, we will provide a detailed breakdown of all income and expenses categories of the business. These forecasts include cash flow projections and capital requirements for your badminton equipment and products business. Usually, these projections are drafted for a 5-year period.

Revenue Assumptions

The main source of revenues for a badminton equipment and products business comes from the sale of badminton equipment, racquets, strings, footwear, clothing, and accessories. You may also include other possible sources of profit such as repair services, trade-ins, and rentals.

Projecting Expenses

In this section, all the regular expenses related to keeping the badminton equipment and products business running will be described. The list of operating expenses includes rent, wages, maintenance and repairs, utilities, insurance policies, advertising, and others.

Some of the key companies operating in the badminton equipment and products market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:

– In April 2022, Yonex Co. Ltd. launched the Voltric series of badminton rackets which feature a powerful energy transfer system.

– In June 2022, Li-Ning Co. Ltd. launched the ‘SpeedStar’ series of badminton rackets which feature an aerodynamic design for better control and accuracy.

– In August 2022, Wilson Sporting Goods Co. launched the ‘Blade’ series of badminton rackets which feature a lightweight design with increased power potential.

Some of the prominent players in the badminton equipment and products market include:

– Yonex Co. Ltd.
– Li-Ning Co. Ltd.
– Wilson Sporting Goods Co.
– Head NV
– Babolat SAS
– Dunlop Sports Group Americas, Inc.
– Apacs Sports Ltd.
– SHJINSHI Sports Equipment Co. Ltd.
– FZ FORZA
– Victor Sports Ltd.

This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global badminton equipment and products market based on product, distribution channel, type, and region:

1. Product Outlook (Revenue, USD Million, 2017 – 2030)

– Racquets
– Footwear
– Shuttlecocks
– Strings
– Strings Grips
– Nets
– Others

2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)

– Supermarkets & Hypermarkets
– Online
– Others

3. Type Outlook (Revenue, USD Million, 2017 – 2030)

– Amateur
– Professional

4. Regional Outlook (Revenue, USD Million, 2017 – 2030)

– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa

[Q]: What are the key factors driving the Badminton Equipment and Products market?
[A]: The key factors driving the badminton equipment and products market include the rising popularity of badminton as a sport, the increasing number of badminton clubs, the availability of affordable badminton equipment and accessories, and the increasing number of badminton tournaments across the world.

[Q]: How has the rising number of badminton clubs impacted the Badminton Equipment and Products market?
[A]: The increasing number of badminton clubs has led to an increase in demand for badminton equipment and products. This has resulted in a surge in the production of badminton racquets, shuttlecocks, strings, bags, and other accessories, which has ultimately led to an increase in the market size.

[Q]: What regions offer the largest opportunity for sales of Badminton Equipment and Products?
[A]: Asia Pacific is expected to be the largest market for badminton equipment and products, due to the presence of a large population and a rising number of badminton clubs in the region. China and India are the two major markets for badminton equipment and products in Asia Pacific.

[Q]: Who are the key players in the Badminton Equipment and Products market?
[A]: Some of the key players in the badminton equipment and products market include Yonex Co. Ltd., Li-Ning Company Limited, Kason Sports Co. Ltd., Victor Sports Co. Ltd., and Li-Ning Sports (USA) Inc.

[Q]: What type of materials are used to manufacture badminton equipment and products?
[A]: Badminton equipment and products are usually made from lightweight and durable materials such as carbon fiber, aluminum, and steel. The choice of material depends on the type of product being manufactured, such as the type of badminton racquet, shuttlecock, strings, or bags.