Tennis Wear Market to Reach $43.8 Billion, Globally, by 2034 at 3.6% CAGR: Allied Market Research
Wilmington, Delaware, Sept. 18, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "Tennis Wear Market by Type (Apparel, Footwear and Accessories), Price Range (Premium and Economy), End User (Men, Women and Children), and Distribution Channel (B2B, Specialty Stores, Departmental Stores, Online Sales Channel and Others): Global Opportunity Analysis and Industry Forecast, 2024-2034". According to the report, The global tennis wear market was valued at $29.8 billion in 2023, and is projected to reach $43.8 billion by 2034, growing at a CAGR of 3.6% from 2024 to 2034.
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Prime determinants of growth
Increased participation in tennis, fueled by rise in health awareness and sports enthusiasm, has significantly expanded the consumer base for tennis wear market. The growing number of professional and amateur tournaments worldwide enhances the sport's visibility and increases the demand for high-performance tennis wear products. Moreover, advances in fabric technology, such as moisture-wicking, breathability, and UV protection, attract consumers seeking both functionality and comfort. In addition, higher disposable incomes enable consumers to invest in premium and branded tennis apparel, further boosting demand for tennis wear. The expansion of online retail and direct-to-consumer sales channels improves accessibility and convenience, further driving the market growth. Furthermore, collaborations with top athletes and endorsements from professional players enhance brand credibility and appeal, which contributes to increase in consumer engagement and sales in the tennis wear market.
Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2024–2034 |
| Base Year | 2023 |
| Market Size in 2023 | $29.8 billion |
| Market Size in 2034 | $43.8 billion |
| CAGR | 3.6% |
| No. of Pages in Report | 306 |
| Segments Covered | Product Type, Price Range, End User, Distribution Channel, and Region. |
| Drivers |
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| Opportunities |
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| Restraint |
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The apparel segment led the market in 2023
Based on product type, the apparel segment held the highest market share in 2023. Apparel is the most preferred choice among individuals in the global tennis wear market owing to its essential role in optimizing performance and comfort on the court. Tennis apparel, including moisture-wicking shirts, flexible shorts, and breathable fabrics, enhances athletic performance by managing sweat and allowing for unrestricted movement. In addition, stylish and well-designed tennis wear appeals to both competitive players and recreational enthusiasts, merging functionality with fashion. Moreover, availability of a wide range of options and the integration of advanced materials also contribute to the popularity of tennis apparel, meeting diverse consumer preferences and performance needs.
The economy segment held the highest market share in 2023
Based on price range, the economy segment held the highest market share in 2023. Consumers often prefer an economical price range of tennis wear products owing to affordability and value for money. Budget-friendly options make tennis wear accessible to a broader audience, including casual players and those with limited disposable income. Lower-priced products allow individuals to participate in sport without a significant financial commitment. In addition, economic options often provide a good balance of quality and cost, meeting the basic performance needs of recreational players. Furthermore, the availability of cost-effective tennis wear ensures that more people can engage in the sport, contributing to the wider adoption of this segment.
The men segment held the highest market share in 2023
Based on the end user, the men segment held the highest market share in 2023 owing to higher participation rates and a strong presence in professional tennis. Many major tennis tournaments and leagues feature prominent male athletes, driving demand for men’s apparel. In addition, established brands and a wide range of products tailored specifically for men contribute to the dominance of the men segment. The significant investment in marketing and endorsements by male players further boosts consumer preference. Thus, the combination of high visibility in competitive play and targeted product offerings strengthens the substantial market share held by men’s tennis wear.
The B2B segment dominated the market in 2023
Based on distribution channel, the B2B segment held the highest market share in 2023. Sales of tennis wear are high through B2B distribution channels owing to bulk purchasing by retailers, sports clubs, and tennis academies. B2B channels streamline the supply chain, which allows manufacturers to efficiently distribute large volumes of products to multiple outlets. Retailers benefit from access to diverse, high-quality inventory at competitive prices, while sports organizations secure apparel for teams and events. B2B transactions often involve long-term partnerships and repeat orders, contributing to stable and substantial sales. Furthermore, B2B channels facilitate faster restocking and broader market reach, further driving high sales in the global tennis wear market.
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North America led the market share in 2023
Based on region, North America held the highest market share in terms of revenue in 2023. North America has experienced high demand for tennis wear owing to the vital tennis culture and the prevalence of major tournaments such the U.S. Open in the region. A strong presence of tennis clubs and recreational leagues also contributes to the demand for tennis wear products. Moreover, the well-established retail network, including both physical stores and e-commerce platforms, provides easy access to a wide range of tennis apparel. In addition, high disposable incomes allow consumers to invest in quality products, and the growing trend of athleisure drives interest in versatile sportswear such as tennis wear products. These factors combine to make tennis wear a popular choice in North America and is anticipated to grow in the coming years.
Players: -
- Nike, Inc.
- Adidas AG
- Wilson Sporting Goods Co.
- Under Armour, Inc.
- Puma SE
- Babolat
- Asics Corporation
- Fila Holdings Corp.
- Lacoste S.A.
- K-Swiss Inc.
The report provides a detailed analysis of these key players in the global tennis wear market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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