The demand for tennis equipment in Korea is predicted to be worth US$ 127.4 million in 2023, rising to US$ 171.3 million by 2033. Tennis equipment sales are expected to grow at a 3.0% CAGR from 2023 to 2033.
Tennis equipment has become more popular and in demand in Korea as a result of rising tennis fans and tennis competitions. Tennis equipment is growing as a result of data-driven, environmentally concerned sports as well as advancements in racket technology and environmentally friendly production.
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Key Takeaways from the Tennis Equipment in Western Europe Report:
- Tennis equipment in Western Europe is expected to grow by 3.3% for the forecast period of 2023 to 2033.
- The global demand for tennis equipment is projected to reach at US$ 12 billion by 2033.
- Tennis equipment sales in Korea are projected to expand at a CAGR of 3%.
- Sales of tennis equipment in Japan are projected to rise at a 4% CAGR through 2033.
- The increasing popularity of tennis is goading key manufacturers of tennis equipment to establish their base in the United Kingdom
“According to FMI’s report, endorsement is one of the key strategies used by tennis equipment manufacturers to drive their sales. Shoes and apparels endorsed by athletes are 60% more likely to get sold as compared to those without any endorsement. Tennis shoes and apparels consumers are also being influenced by brand promotions done by their favorite stars. opines Sneha Varghese, Senior Consultant, of Consumer Products & Goods at Future Market Insights (FMI).
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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.
Key Providers of Tennis Equipment in Korea
- Dunlop Korea
- Wilson
- Babolat
- Head
- Li-Ning
- Yonex
- Prince
- ProKennex
Key Segments
By Product Type:
- Tennis Racquets
- Tennis Balls
- Apparel
- Footwear
- Ball Machines
- Tennis Bags
- Other Accessories
By Material:
- Composites
- Metallic
- Other Materials
By Buyer Type:
- Tennis Equipment for Individuals
- Tennis Gear for Beginners
- Tennis Equipment for Intermediate
- Advanced
- Tennis Equipment for Institutional Use
By Sales Channel:
- Dedicated Stores
- Dedicated e-commerce
- Specialty Retailers
- Multi-brand Stores
- Online Retailers
Key Cities:
- South Gyeongsang
- North Jeolla
- South Jeolla
- Jeju
- Rest of Korea
About Future Market Insights, Inc. (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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