Shuttlecock Market Forecast and CAGR
According to the latest study by Fact.MR, shuttlecock market is expected to project significant growth over the forecast period (2021-2031) and surpass global valuation by more than US$ 1,000 Mn during similar time frame. Sizeable increase in number of people playing badminton and opting it as a professiontend provide positive outlook to the industry. Moreover, the constant demand from international and national championship tournaments will augment shuttlecock’s sales growth in the coming years.
Request for Sample here – https://www.factmr.com/connectus/sample?flag=S&rep_id=703
What is Driving Demand for Shuttlecock?
Playing badminton as a leisure activity coupled with increase in sports activities globally have given a boost to shuttlecock production and sales. Additionally, badminton is also considered a recreational activity in addition to the health benefits associated with it, has gained popularity among the millennial population considerably.
Moreover, the rise in sporting events such as the UBER cup, Thomas cup and BWF world championship have attracted new audiences across the globe with key penetration in the region such as Europe and the Asia Pacific.
Furthermore, with the introduction of online channels such as e-commerce platforms consumers now have access to a variety of shuttlecocks based on their material, colour and feather quality.
Above stated factors coupled with a rise in recreational spending is projected to propel the demand and sales for shuttlecock.
Key Trends Identified in the Shuttlecock Industry
Market players are implementing various strategies to tap the market by diversifying their product line:-
- For instance, prominent manufacturers such as Li-Ning and Yonex have launched shuttlecocks made from nylon, plastic and synthetic components in place of feathers to cope with the growing needs of amateur and professional players.
- Moreover, various manufacturers are incorporating features such as the inclusion of LED lights in addition to the launching of shuttlecocks in a varied range of colours to penetrate the market more effectively.
COVID-19 Pandemic Impact on Shuttlecock Market
COVID-19 pandemic has affected sports activity around the world. Prolonged lockdowns and a halt on small and big sporting events have affected the sales in a big way. Moreover, key players are observing fluctuation in demand which has in a big way affected the market trends, opportunities and customer preference.
For Request for Customization – https://www.factmr.com/connectus/sample?flag=RC&rep_id=703
Asia Pacific Shuttlecock Market Outlook
Asia Pacific dominates the shuttlecock market attributed to the popularity of sport in the region along with a vast demographic in the age group 18-35. Additionally, recent successes gained by Asia players on the international stage has seen a surge in the popularity of badminton which has eventually served as the growth determiner for shuttlecocks.
Additionally, the presence of prominent players such as Yonex and Lin-Ning have made it possible for the consumers to get access to superior quality shuttlecocks for an enhanced playing experience.
Moreover, China is projected to dominate the market in terms of sales owing to popularity of the sport and being home to some of the world’s top players in both male and female categories.
Europe Shuttlecock Market Outlook
Europe has emerged as a lucrative market for shuttlecock demand attributed to the increase in sports activities coupled with an increase in per capita income and changing consumer preference.
Moreover, various government and non-government initiatives encouraging sports participation have been seen over the past half-decade in the region. For instance, ENGSO (European Non-Government Sports Organization) has been engaged in the promotion of sports at the grass-root level encouraging more participation.
Above stated factors coupled with rise in awareness regarding the health benefits of badminton as a sport will bolster the demand and sales of shuttlecock in the long run.
Who are the Key Manufacturers and Suppliers of Shuttlecocks?
Some of the prominent players in this industry are
- Bedini
- Kimoni International
- Li-Ning
- Aisheng Co. Ltd.
- Victor A.Henkel
- Yonex Ashaway
- Sports Import
- Pointforce
The aforementioned players have mainly relied on organic growth strategies such as product launches to expand their market share.
- For instance, Li-Ning has recently developed superior quality shuttlecocks using goose feathers that offers accurate flight under varied weather conditions.
- Moreover, Yonex’s ‘Mavis’ edition has come up with nylon shuttlecocks that replicate the properties of feather shuttlecocks.
Key segments
By Product Type
- Feather Shuttlecocks
- Plastic Shuttlecocks
By End-use
- Individuals
- National / International Sports Authorities
- World Championships
- Private Clubs
By Price Range
- Low
- Medium
- High
By Distribution Channel
- Online
- Speciality stores
- Retail markets
By Region
- North America
- US & Canada
- Latin America
- Brazil
- Mexico
- Others
- Western Europe
- EU5
- Nordics
- Benelux
- Eastern Europe
- Asia Pacific
- Australia and New Zealand (ANZ)
- Greater China
- India
- ASEAN
- Rest of Asia Pacific
- Japan
- Middle East and Africa
- GCC Countries
- Other Middle East
- Northern Africa
- South Africa
- Other Africa
Read More Trending Reports of Fact.MR-
Why choose Fact.MR?
Reports published by Fact.MR are a result of the combination of our experts and digital technologies. We thrive to provide innovative business solutions to the clients as well as tailor the reports aligning with the clients’ requisites. Our analysts perform comprehensive research to offer ins and outs of the current market situation. Clients across various time zones tend to utilize our 24/7 service availability.
Explore Fact.MR’s Comprehensive Coverage on Sports Domain:
Sports Optics Market – https://www.factmr.com/report/3443/sports-optics-market
Hybrid Bicycles Market – https://www.factmr.com/report/2066/hybrid-bicycles-market
Diving Board Market – https://www.factmr.com/report/2064/diving-board-market-market
About Us:
Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Reach out to us with your goals, and we’ll be an able research partner.
Contact:
US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
E: sales@factmr.com
Corporate Headquarter:
Unit No: AU-01-H Gold Tower (AU),
Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers,
Dubai, United Arab Emirates
