Pickleball continues to grow in popularity. An estimated 36 million people in the U.S. alone have played the sport. However, the small court is part of a much bigger business ecosystem â the racquet sports industry.
The pandemic clearly left people craving social interaction. Pickleball fills part of that need and in a way where you get exercise as a bonus. Health media reports on its mental, physical, and psychological impacts on people of all ages. Kids start to play as soon as they develop hand/eye coordination. Adults sometime play into their 90s.
Jared Paul, publisher of The Kitchen, a leading pickleball and sports media company commented, âPickleball is so special because it not only brings people of all walks of life together but itâs one of the few sports that is truly inclusive and intergenerational. Anyone can hit the court for their first time and have fun, yet the game is extremely nuanced and takes a lifetime to master.â
Pickleball is not the only game in town.
Padel, a sport that originated in Mexico, is becoming popular worldwide. Just as racquetball was the popular after-work game for industry titans in the 1980s, up-and-coming investment bankers are playing fast-paced padel. A new Padel-based private health club called Bond will open in the Hamptons next summer.
Hank Medina, an investor in Bond added, âIt will be a gathering place for a new generation of Padel players and current players from around the world. It started as a pop-up concept, but weâre taking it to the next level as a gathering place and private members club that promotes community, health, socialization, and longevity.â
One study by the marketing agency LT revealed that the âcross-court consumerâ is emerging, and racquet sports players are likely to play tennis plus other sports. Badminton is even making a comeback, as Gen Z is discovering the game.
Beyond Racquets: Five Opportunities for Business Leaders
The racquet sports boom is unique in that itâs leading to growth in many other categories:
- The real estate world is responding to the need for courts. Previously occupied by struggling retail chains, mall spaces are becoming eatertainment and sportstainment locations, with pickleball as their primary activity. Communities, clubs, and private homeowners are investing in and remodeling courts. Private companies are working closely with public entities to sponsor and subsidize places to play.
- In addition, the equipment and apparel industries are enjoying new opportunities. Players buy everything from rackets, paddles, and balls to sports-specific footwear, jewelry, and accessories. New consumer brands are emerging around racquet sports. Jason Collins, Global General Manager, Wilson Racquet Sports observes, âThe momentum in the racquet sports industry is very strong. The pandemic impact brought a new wave of players into tennis, pickleball, and padel, further fueling Wilson to continue developing and innovating products for players of all levels to enjoy each of these sports.â
- Tournaments are popping up around the world, building adjacent travel and tourism opportunities. Companies that plan tennisâand pickleball-specific vacations offer local and global excursions, including adventures on cruise ships with onboard courts.
- Racquet sports influencers and Facebook groups abound. From humorous pickleball memes to daily reporting on trends and games, both digital and paper publications, podcasts, streaming TV channels, and sponsored Instagram âpersonalities,â racquet-related content fills the world.
- The most significant opportunity revolves around sports automation. Technology is playing a massive role in the racquet sports boom and is expected to be an $80B industry by 2032 across all sports. Among the applications are:
- Faster and more efficient court-building and lighting
- Social apps to find nearby courts and partners/opponents
- Score-keeping tools
- Health and speed trackers
- Coaching content
- Robotic ball machines
According to investor and media personality Andrew Petcash of Profluence Capital, â2023 was a record year for sports tech with more than $37B in announced deal value, according to a recent Drake Star report.â
Sports technologies also enable brands to gather and analyze large data sets, which can improve decision-making and fan engagement.
As tech booms, legacy brands are finding new sources of growth and their role in transforming the industry. Oscar Feldenkreis, CEO of Perry Ellis International noted the âtimeless style, heritage, and performance-driven apparelâ that distinguishes Original Penguin. He states, âAs racquet sports continue their surge in popularity, we proudly embrace this momentum and our commitment to innovation and quality ensures that weâre not just outfitting players, but helping shape the very culture of racquet sports globally.â
The Industry is Vast and Fast-Paced
Letâs not forget the wide range of other racquet sports. Racquetball is still alive, and squash will be in the 2028 Summer Olympics. Table tennis (also known as ping pong) is already an Olympic sport, and social clubs have emerged in many communities so that people can enjoy a beer and a fast-paced game round or two.
Parents who want to encourage their kids to become athletes invest in coaching, which is now a legitimate and lucrative profession for children and adults.
And, like many emerging and fast-scaling industries, the racquet sports world now has its own conference.
Robyn Duda, co-founder of RacquetX, an all-racquet-sports festival added, âWe believe the entire industry can benefit from learning from professionals in different racquet sports. And weâve seen that many consumer brands â like Wilson and Adidas â are now developing products for multiple sports. Although competition exists on the courts, we believe that collaboration is ultimately what will take the industry to the next level.â