Growing Interest in Sports Creates Long-term Revenue Streams for Manufacturers during COVID-19
Since gyms, swimming pools, and other recreational facilities were shut during the coronavirus pandemic, people chose badminton and other sports activities to maintain optimum health. As such, the reopening of gyms and other sports facilities with the start of 2021 is anticipated to create revenue opportunities for companies in the badminton apparel market. Suppliers are using online information outlets to educate users as to how they can hone their badminton skills by practicing at home backyards and open spaces in housing societies. Techniques such as hitting against the wall, jump rope, footwork drills, and the likes are helping people to improve their badminton skills.
Manufacturers in the badminton apparel market have witnessed high volume sales during the COVID-19 era due to isolation and social distancing norms. It has been challenging manufacturers to avoid supply shocks, but long-term relationship of individuals with sports has created future revenue streams for manufacturers.
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Lack of Awareness about Special Badminton Shoes Inhibits Market Growth
The badminton apparel market is slated to register a robust value CAGR of ~11% during the assessment period. However, many individuals lack awareness about specialized badminton shoes, which is likely to affect market growth. Hence, companies in the badminton apparel market such as Asics— a Japan-based multinational corporation which produces sports equipment, are increasing efforts to guide individuals about the advantages of specialized badminton shoes to help them improve their sports performance.
Advantages such as prevention of ankle injuries, reduced chances of blisters, and ventilation are triggering the demand for badminton shoes. Companies are increasing the availability of shoes that offer increased grip, are lightweight, and provide cushioning to improve the sports performance of individuals. Since badminton is an intense and fast moving game, manufacturers are making use of breathable materials in shoes.
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Synthetic T-Shirts, Shorts for Men Grow Popular Online
Custom sports jerseys are growing popular in the market landscape. It has been found that synthetic fabrics are predicted to hold the lion’s share in terms of value and volume in the badminton apparel market. This is why companies such as Li-Ning— a China-based sportswear and sports equipment company, are expanding their apparel portfolio in synthetic t-shirts and shorts for men to capitalize on incremental opportunities.
The rapidly expanding eCommerce sector is creating business opportunities for manufacturers. Startups are emerging as a stiff competition for established market players, since these startups are catering to niche requirements of sports and badminton enthusiasts.
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High Demand for Junior Badminton Clothing, Performance Dresses for Women
Companies in the badminton apparel market are educating badminton enthusiasts about appropriate clothing preferences. Manufacturers are increasing awareness about quick drying, lightweight, and color schemes as per weather conditions to boost product sales. Apart from men and women, companies in the badminton apparel market are increasing their designing capabilities in sportswear for children. PDH Sports— an online rackets sports shop, is acquiring recognition in the U.K. for its comprehensive products portfolio in men, women, and children badminton sportswear.
The concept of compression clothing is growing popular in the market for badminton apparel. Manufacturers are bolstering their production capabilities in compression socks and short underwear to capitalize on sales opportunities. Compression clothing helps improve sports performance, prevents development of varicose veins, and significantly decreases muscle injuries. Companies are diversifying their production activities in headbands, wristbands, and socks to broaden their revenue streams. They are improvising on design capabilities to manufacture junior badminton shoes, as many children are developing an interest in badminton. In order to meet the requirements of women, manufacturers are designing skirts, t-shirts, and even performance dresses in vibrant colors.
Badminton Apparel Market: Overview
- According to Transparency Market Research’s latest research report on the global badminton apparel market for the historical period 2018–2019 and the forecast period 2020–2030, badminton apparel is becoming popular due to increasing number of badminton leagues or tournaments, along with the rising number of badminton players. These factors are expected to boost the global badminton apparel market during the forecast period.
- Badminton is a sport that is played both indoors and outdoors. Badminton is a very popular sport, especially across the Asia Pacific region, and is not only played for competitions but also for leisure among players. Prime requirements for a badminton player are shuttlecocks, racquets, and badminton apparel. The apparel includes clothing and footwear, which are made to ensure the player’s movements are comfortable and provide appropriate air circulation. Badminton apparel are prepared in a way that they soak up sweat and do not make the apparel heavy. This helps in easy movement for the player.
- In terms of revenue, the global badminton apparel market is estimated to exceed the value of US$ 30 Bn by 2030, expanding at a CAGR of ~11% during the forecast period
Increase in Number of Badminton Leagues: A Key Driver
- Continuous increase in the number of badminton leagues at regional, national, and district levels across the globe has created immense opportunities for manufacturers and distributors of badminton apparel. Moreover, factors such as rising demand for comfortable badminton apparel and increasing activities in the sport have significantly increased the focus on sportswear globally. Different international brands are merging sportswear with fashion wear due to advancements in technology.
- Massive demand for athletic badminton apparel is witnessed among non-sportspersons as well due to the increasing participation in badminton activities and changing lifestyles. Major brands are likely to focus on innovation of new badminton apparel design and research & development activities to strengthen their foothold in the global badminton apparel market.
- Considering all these factors, the impact of this driver is moderate currently, and it is expected to rise due to expected innovations in badminton apparel during the forecast period
Badminton Apparel Market: Market Trends
- Rapid expansion of the badminton industry coupled with high demand for special purpose products such as footwear and increase in focus on athletic footwear products is likely to drive the global badminton apparel market during the forecast period
- Badminton is played extensively across Asia Pacific and Europe. Growing popularity of badminton can be attributed to the rise in the number of badminton competitions and sports clubs across the globe
- Rise in interest for badminton among children aged between 5-10 years has led to the increase in the number of badminton coaching centers in schools. Increase in usage of lightweight resources by using nanomaterial in badminton products is a recent trend, thus driving the badminton apparel market.
Badminton Apparel Market: Key Developments
- Key providers of badminton apparel, such as Li-Ning Company Limited, YONEX Co., Ltd, Victor Rackets Industrial Corporation, and Babolat are focusing on making cost-effective badminton apparel to attract more customers
- Companies are undertaking mergers and acquisitions, and joint ventures with local players to expand their product portfolio. Some other key developments in the global badminton apparel market are highlighted below:
- In January 2021, YONEX CO., LTD. launched the new POWER CUSHION ECLIPSION Z for footwear. The ECLIPSION series is focused on stability to handle even the most advanced or complex footwork, providing the athlete with confidence in every step and every jump. The POWER CUSHION ECLIPSION Z will be available in late March 2021. As badminton play has become increasingly fast paced in recent years, shoes are required to provide the stability needed to react instantly and propel quickly.
- In August 2020, Li-Ning Company Limited, strengthened its supply chain integration, improved the “Demand-driven” supply chain system, and boosted the flexibility and quick response ability of the supply chain system
- In late 2020, Babolat introduced the new limited edition Goldmine by Babolat Badminton. This edition includes the Backrack bag, Shadow Spirit shoes, and The X-Feel Origin badminton racquet with its three versions, Essential, Power, and Lite.
- In the global badminton apparel market report, we have discussed individual strategies, followed by company profiles of providers of badminton apparel. The ‘Competition Landscape’ section has been included in the report to provide readers with a dashboard view and company market share analysis of key players operating in the global badminton apparel market.
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