Tennis apparel: Key market research findings
- The Americas dominate the market geographically
- Men’s tennis apparel accounts for a majority of the market’s revenue
- Key vendors – Adidas, Fila, Nike, Puma, and Under Armour
Technavio’s market research analysts predict the global market for tennis apparels to grow at a CAGR of almost 3% between 2016 and 2020. The growth of the market is augmented by the preference for innovative marketing strategies such as celebrity endorsements. Prominent manufacturers in the market often sign famous players such as Roger Federer, Andy Murray, Rafael Nadal, and Serena Williams for launching new product lines. Furthermore, vendors are also sponsoring tennis tournaments and matches as part of their product promotions. During 2015, the global tennis apparel market was dominated by the Americas with a market share of around 48%. The high popularity of tennis in the region coupled with an increase in the number of frequent or regular players and the growing demand for tennis apparel, especially from the younger generation, are some of the factors that will fuel the adoption of tennis apparels in the Americas during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the tennis apparel segments based on the end-user.
“Vendors in the market are launching new products for different tennis tournaments, which is likely to have a positive impact on the growth of the market. Product innovations are mainly registered in the sphere of materials and fabrics. For example, Wilson Sporting Goods has been using its smart design technique for the production of its tennis apparel and employing nanotechnology for enhancing performance benefits. Some of the special features incorporated in the design of its tennis apparel include ball pocket solutions, abrasion-free seams, and zoned cooling,” says Brijesh Kumar Choubey, Lead Analyst, Consumer & Retail, Technavio Research.
In 2015, the men’s tennis apparel segment accounted for the maximum share of the market to become the key revenue generating segment. According to our analysts, this trend is expected to continue throughout the forecast period. Vendors in the market are focusing on sponsoring different tennis players to endorse their brands in an attempt to strengthen their foothold in the competitive market. For example, Roger Federer signed a 10-year contract deal with Nike in 2008 for wearing its tennis apparel in all his matches, for an annual contract of $10 million.
The key vendors in the global tennis apparel market include Adidas, Fila, Nike, Puma, and Under Armour. The global tennis apparel market is consolidated as it is dominated by a few leading international vendors. Since moderate competition exists between these vendors, it will lead to the introduction of many advanced products in the market.
A more detailed analysis is available in the Technavio report, Global Tennis Apparel Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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