The Lawn-Tennis Rackets Market in South Africa has experienced fluctuations in market size value (expressed in million US dollars) over the past decade. From 2012 to 2015, the market saw minor declines with slight recovery in 2015. However, 2016 marked a significant downturn with a steep -24.28% year-on-year decrease, setting the tone for volatile market conditions in subsequent years.
From 2017 to 2022, the market exhibited gradual improvements and setbacks, exemplified by an 8.46% rise in 2018 and consistent low growth or decline thereafter. The most recent years show a -9.22% drop in 2020, followed by slow recoveries in 2021 (3.47%) and a slight decrease again in 2022 (-1.7%). Overall, the compound annual growth rate (CAGR) for the last five years from 2016 to 2022 stands at negative figures, showcasing the inconsistent market behavior.
Future trends to watch for:
- Potential recovery and stabilization efforts post-2022, influenced by economic factors and sports re-engagement activities.
- Innovations in racket technology and increasing participation in tennis might drive market growth.
- Monitoring external factors such as global economic conditions, supply chain dynamics, and consumer spending power will be crucial.
