Pickleball continues to grow in popularity. An estimated 36 million people play the sport in the United States alone. However, this small court is part of a much larger business ecosystem. racket sports industry.
The pandemic has clearly left people craving social interaction. Pickleball fills some of that need and gives you some exercise as an added bonus. Health media reports on the mental, physical and psychological effects on people of all ages. Children begin playing as soon as their hand-eye coordination develops. Adults may still play even when they are 90 years old.
“Pickleball not only brings people from all walks of life together, but it is one of the few truly inclusive and intergenerational sports,” said Jared Paul, publisher of The Kitchen, a leading pickleball and sports media company. It's very special because it's one of a kind.” Anyone can step onto the court for the first time and enjoy it, but the game is very subtle and takes a lifetime to master. ”
Pickleball isn't the only game played in town.
Padel is a sport that originated in Mexico and has become popular all over the world. Just as racquetball was a popular after-work game for industry titans in the 1980s, up-and-coming investment bankers are playing fast-paced padel. Bond, a new padel-based private health club, will open in the Hamptons next summer.
Bond investor Hank Medina added: “It will be a gathering place for a new generation of padel players and current players from around the world.” What started as a pop-up concept has been taken to the next level as a gathering place and private members club that promotes community, health, socialization, and longevity. ”
A study by marketing agency LT found that the “cross-court consumer” is on the rise, with racquet athletes likely to play other sports in addition to tennis. Badminton is making a comeback as Generation Z becomes interested in the sport.
Out-of-court consumer behavior
Beyond the Racket: Five Opportunities for Business Leaders
The racquet sports boom is unique in that it has led to growth in many other categories.
- of real estate world Responding to the needs of the court. Shopping mall spaces previously occupied by struggling retail chains are being turned into eateries and sports stores where pickleball is the main activity. Communities, clubs, and individual homeowners are investing in and renovating courts. Private companies work closely with public organizations to sponsor and subsidize play areas.
- Additionally, the equipment and apparel industry is enjoying new opportunities.. Players buy everything from rackets, paddles, and balls to sport-specific shoes, jewelry, and accessories. New consumer brands are emerging around racket sports. Jason Collins, Global General Manager of Wilson Racquet Sports, said: The pandemic has brought a new wave of players to tennis, pickleball and padel, reinforcing Wilson's focus on continuing to develop and innovate products to help players of all levels enjoy these sports. Ta. ”
- Tournaments are held all over the world, Build adjacent travel and tourism opportunities. Vacation planning companies specializing in tennis and pickleball offer trips locally and around the world, including adventures on cruise ships with onboard courts.
- There are many influencers and Facebook groups for racquet sports. From humorous pickleball memes to daily reports on trends and the game, digital and print publications, podcasts, streaming TV channels, and sponsored Instagram “personalities,” the world is full of racket-related content.
- The most important opportunities revolve around automation in sports. Technology is playing a huge role in the racquet sports boom, which is expected to become an $80 billion industry across all sports by 2032. Applications include:
- Build and light courts faster and more efficiently
- Social app to find nearby courts and partners/opponents
- Score management tool
- Health and speed tracker
- coaching content
- robot ball machine
Profluence Capital investor and media personality Andrew Petcash said, “According to a recent report from Drake Star, 2023 will be a record year for the sports technology industry, with announced deals valued at 37 billion yen. It exceeded the US dollar.”
Sports technology also allows brands to collect and analyze large data sets to improve decision-making and fan engagement.
With the boom in technology, legacy brands are finding new sources of growth and a role in industry transformation. Oskar Feldenkrais, CEO of Perry Ellis International, noted the “timeless style, tradition, and performance-oriented apparel” that characterize the original His Penguins. He said, “As the popularity of racquet sports continues to grow, we are proudly embracing this momentum and with our commitment to innovation and quality, we not only provide equipment to players, but also provide equipment for racquet sports around the world. “We are contributing to the formation of the culture itself.”
The industry is vast and fast-paced
Don't forget the wide range of other racquet sports. Racquetball is still alive and well, and squash will be included in the 2028 Summer Olympics. Table tennis (also known as ping pong) is already an Olympic sport, and social clubs have sprung up in many communities where people can enjoy a round or two of the fast-paced game while enjoying a pint.
Parents who want their children to be athletes invest in coaching. Coaching is now a legitimate and lucrative profession for children and adults.
And like many emerging and fast-growing industries, the world of racquet sports has its own conferences.
MADRID, SPAIN – AUGUST 6: Spain's Juan Lebron in action during a doubles match with Alejandro … [+]
Robin Duda, co-founder of RacquetX, a festival for all things racquet sports, added: “We believe the entire industry can benefit from learning from experts in a variety of racquet sports. And many consumer brands, such as Wilson and Adidas, now offer products for multiple sports. We've seen it develop. While there is competition on the court, we believe that ultimately collaboration is what will take the industry to the next level. ”
