Pickles for the win

Despite its sour name, Pickleball is enjoying a spate of sweet success. Driven by a rise in older demographics interested in sport and a trend toward more social activities, pickleball and paddle tennis experienced a 159% rise in participation between 2019 and 2022 according to the Sports and Fitness Industry Association. Notably, while golf has been in decline for several years, off-course golf at a driving range has seen a 57% rise in participation. Driven by a lack of affordability and increasingly variable snow conditions, downhill skiing has seen a 14% decline. Overall, after expanding 6% in 2023, Euromonitor expects the global sportswear industry to expand at a 7% compound annual growth rate through 2027. Healthy hobbies appear to be creating a healthy business environment.

Source: McKinsey, SFIA January 2024