According to a recent report by Research and Markets, the global squash racquets market was valued at $175 million in 2022 and is expected to post a compound annual growth rate (CAGR) of 4.2 percent through 2028. Growth is driven by the sport’s increasing popularity and an expanding player base, which directly drives the need for high-quality racquets. Besides traditional strongholds, squash is gaining popularity in regions like Asia, the Middle East and South America. This globalization trend is boosting both the demand for squash racquets and competition among brands in product development. Technological innovation is another key market driver. This includes advancements in materials, such as using lightweight yet robust materials like carbon fiber and innovations in racquet design, string technology, and grip materials.
Among the other key market drivers, the report points to customization and personalization trends, which have become a significant factor in the squash racquets market, with players increasingly seeking equipment tailored to their preferences and playing styles. According to the report, customization will likely remain a driving force in the market. Evolving retail and distribution channels are also boosting the squash racquets market. Traditional sporting goods stores, specialty shops and online platforms now offer a wide variety of racquets. Online retail, in particular, including access to a global marketplace, has transformed how consumers compare and buy squash racquets. This shift in distribution channels has made racquets more accessible while also increasing market competition and price transparency.
Meanwhile, one of the foremost challenges facing the squash racquets market is the sport’s limited global awareness and exposure. Squash racquets face competition from other racquet sports like tennis, badminton and racquetball, which all have larger established player bases and generally receive more media attention and sponsorship. The lack of awareness of the sport limits squash’s growth potential and, therefore, the demand for squash racquets. Efforts should be made to increase the visibility of squash through media coverage, marketing campaigns and grassroots initiatives, says the report, which also recommends promoting the sport at the school and community levels to introduce it to a broader audience and create a pipeline of potential players and racquet consumers.
The perception of squash represents another challenge facing the squash racquet market as an elite sport due to its association with private clubs and facilities that may charge high membership fees. This perception is itself a barrier to entry. Efforts should be made to promote more affordable and accessible options for playing squash, recommend the report’s authors. This may involve subsidies for youth players, supporting community squash programs, and partnering with schools to introduce squash as part of physical education curricula. Manufacturers could also explore more budget-friendly racquet options, making the sport and equipment accessible to a broader range of players.
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