The Fact.MR research study sheds light on untapped potential in the badminton shoes market from 2018 to 2028. As per the Fact.MR report, the badminton shoes market is estimated to witness growth at a value CAGR of over 8% during the assessment period.
The phase of primary research in the research methodology for badminton shoes market involves interactions and discussions with industry experts of the badminton shoes market. In the secondary research phase of the research methodology for badminton shoes market report, details about the badminton shoes market is garnered from multiple resources, including trade journals, press releases, credible publications, annual reports of companies, paid resources, and others.
The report on badminton shoes market comprises of industry-validated insights and information about the badminton shoes market along with industry-specific statistics. The findings from two of the processes in the research methodology of badminton shoes market report is used to design an accurate as well as exhaustive forecast analysis for badminton shoes market over the forecast period.
Badminton shoes market exhibited growth at an impressive CAGR of over 7% from 2013 to 2017. This growth can be ascribed to the fact that badminton ranks among the most popular sports in the world by participation.
Global demand for badminton shoes is likely to reach new heights and exceed US$ 2,800 Mn in 2019, owing to ever-increasing popularity of racquet sports, including badminton.
Demand for badminton shoes with rubber soles will continue to outgrow other types, with global demand estimated to exceed US$ 1,900 Mn in 2019.
East Asia will continue to be the leading market for badminton shoes, with China spearheading demand. Asians actively pursuing badminton as a recreational sport, hobby, or profession is fuelling the growth of this regional market.
With badminton being one among the chief sports, East Asia is likely to emerge as a high growth market for badminton shoes over the assessment timeperiod.
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In 2018, Yonex Co., Ltd. - a leading manufacturer of sporting equipment for golf, tennis, and badminton- made an official announcement of the release of its lightest badminton shoe, namely ‘POWER CUSHION AERUS 3’ of around 270 grams. This badminton shoe by Yonex can exceptionally absorb the after-impact of badminton footwork whilst offering unmatched flexibility and comfort to the player. This new product not only claims of offering enhanced resilience and shock-absorption, but also promises improved elasticity and agility.
In 2018, Puma SE joined hands with Havas Media, a leading media division of the marketing & communications arena of the Havas group. This is a part of the company’s ‘over-arching strategy’ to introduce major reforms in its marketing approaches, which, in turn, will help in boosting brand-customer interaction and driving sales growth.
In 2018, Lotto Sport Italia- a key manufacturer of causal and sporting clothing and footwear- launched one of the uniuque technologies of the company, namely ‘AMF – Adapto Memory Foam’ campaign in Bangaladesh. As per this campaign, customers making purchases of Lotto shoes worth Tk1500 form any of the flagship stores owned by the company will also get a pair of AMF shoe insole as a gift. This campaign was run by the company with a sole objective of reaping profits via value-added offerings.
Other key players profiled in the badminton shoes market include Cosco (India) Ltd, Mizuno USA, Inc., Carlton Sports, VICTOR RACKETS IND. CORP, Adidas AG, and Li Ning Company Limited.
With badminton shoes market being a fairly competitive landscape, market players are centering on product innovations to drive profitability. One of such innovation types being focused on by manufacturers of badminton shoes is incremental innovation, as it entails minimum risk and offers impressive outcomes.
As per the incremental innovation paradigm, manufacturers are introducing a series of improvements or upgrades in their core competencies or existing product lines. For instance, apart from the regular rubber and non-marking soles, manufacturers are offering advanced non-marking soles with hexagon grip that will help the footwear make firm connection with the ground. In addition, manufacturers are also making use of advanced mesh technologies and integrating the same in badminton shoes, which provide improved flexibility and breathability to the players.
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Badminton Shoes Market Volume Analysis, Segments, Value Share and Key Trends 2018-2028
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