The Lawn-Tennis Rackets Market in Canada witnessed several fluctuations from 2012 to 2022. The market experienced a peak in 2014 with approximately a 12.41% year-on-year increase reaching a value of $21.65 million. However, a subsequent drop in the following years saw a steady decline, marking a low point in 2020 with a market value of $15.598 million. The past two years have shown slight fluctuations, with a minimal recovery in 2021 at a 4.51% increase, followed by a minor dip in 2022 at -0.70%. The Compound Annual Growth Rate (CAGR) over the past five years has been -1.05%, indicating a general downward trend.
As of 2023, the market size was hovering around $16.187 million, reflecting a stabilized phase after significant drops in previous years.
Future trends to watch for:
- Technological advancements in racket materials and design.
- Growing interest in tennis due to successful Canadian players.
- Potential impact of fitness trends promoting recreational sports.
