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CAGR 2.2%, Canada Tennis Market 2021 Booming Across the Globe by Share, Key Segments by 2031

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Canada Tennis Market: Products, Materials, Applications, Growth Rates and Shares, and Forecast: 2020-2029” is the title of one of the recently produced reports by research team at Market.US. The Canada tennis market is projected to reach a value of approximately US$ 709 Million in 2029, from a value of around US$ 574 Million in 2019. The target market is projected to register a steady growth rate of 2.2%.

Tennis is an Olympic sport and is played at all levels of society and by people of all ages. Tennis involves two players or teams of two. It is played on a court using rackets to hit a ball to each other over a net. The aim of the game is to hit the ball over the net. Tennis is either played indoors or outdoors, on a range of surfaces such as grass, concrete, clay and artificial turf. Tennis is played as either a singles match (1 v 1) or as a doubles match (2 v 2). There are two separate games of tennis. One is the singles game, which has two participants, one opposing the other. The doubles game, which has four participants, has two players teaming up to compete against another team of two. Mixed doubles are also played. This is when a team has one male and one female member.

The Canada tennis market is segmented based on product type, end user, and region. On the basis of product type, the market is further segmented into tennis apparel and tennis footwear. Among this tennis apparel is expected to gain the highest share in the market.  Based on end user, the market is segmented into professional and amateur. Among this, the professional segment anticipated creating a larger market share.

An increasing number of tennis events and growing participation among the youth segment are major factors expected to drive growth of Canada tennis market. Growing health awareness amongst people for staying fit and healthy, this, in turn, has upsurge playing sports such as tennis. This is expected to support the growth of Canada tennis market. Furthermore, the presence of better infrastructure, Canada government initiatives as well as funding for tennis sports training across schools and universities. This is expected to drive the growth for the target market.

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Growing tennis popularity as a fitness sport among individuals in Canada is a factor which is fueling market growth. Also, increasing disposable income is proving power to the consumer to spend more money on fitness. Therefore, with increasing income, demand for various tennis product such as apparel, footwear, and equipment is similarly increasing. Advancement in designs and technology of tennis products has made the manufacturer focus on creating an innovative design with a less environmental impact which is fueling the market growth over the forecast period. In August 2019 for instance, Wilson Sporting Goods Company, which is a US-based sports equipment manufacturer launched the new ‘Triniti tennis ball’. This new tennis ball is designed with higher life span as well as enhanced performance consistency and made from recycled cardboard with less environmental impact.

Restraints: High training costs associated with tennis sports can hamper the growth of Canada tennis market in the coming years. In addition, certain associations have specified the international standards for the manufacturing of various tennis products. For instance, the International Tennis Federation (ITF) has given certain specifications and guidelines for manufacturing tennis racquets, due to which it becomes a little difficult for domestic manufacturers to make racquets as per requirement. This is a factor that may restraints target market growth to a certain extent.

Opportunities for the target market: Owing to increasing awareness regarding the environmental concerns, manufacturers are focusing on producing products which have less or no harmful impact on environment as well as help to take the sport in an eco-friendly direction. This is expected to create a lucrative opportunity for the prominent players operating in the target market and thereby providing exponential growth to the market. In July 2019 for instance, Sheeps launched as the world’s first vegan tennis brand. Sheeps is an on-line retailer for wool-free tennis balls as well as other animal-free (or vegan) and environmentally-friendly tennis products, such as tennis sneakers, racket strings, and Sheeps-branded apparel.

Trends: Some key trends witnessed in the tennis market are increasing number of cardio tennis activities. This type of tennis game is high-energy physical activity, that’s is a combination of tennis and cardiovascular exercise. This helps to perform aerobics and burn calories. Tennis racquet companies are focusing on and adopting most advanced technologies in order to make enhanced tennis racquets, apparel, and footwear with more power, comfort and durability. In July 2019 for instance, Adidas launched liquefies old cotton to create biodegradable tennis dress in an attempt to address waste in the fashion industry.