In a bid to keep up with the rapidly evolving world of racket sports, Alejandro Suominen, Founder and CEO of PADEL1969, believes that Padel and pickleball have emerged as promising contenders in the industry. Padel, originating from Acapulco in 1969, and pickleball, earning recognition as the fastest-growing game in America in 2022, have secured their positions as some of the fastest-growing sports worldwide. Suominen emphasizes the importance for entrepreneurs and businesses to closely examine the strengths and market opportunities of these emerging sports if they wish to capitalize on the growing trend in the racket sports industry.
The origins of Padel and pickleball shed light on their unique gameplay and appeal. Padel, rooted in Mexico in 1969, combines elements of tennis and squash with a twist – enclosing the court within walls, leading to a distinct style of play. On the other hand, pickleball, created in 1965 in Washington, focuses on control and accuracy rather than force and speed. These differences in gameplay have contributed to the surging popularity of both sports, catering to diverse player preferences and demographics.
The gameplay and scoring systems of Padel and pickleball further highlight their distinctions. Padel is typically played in doubles, with balls allowed to bounce off walls, creating continuous play. Matches consist of three sets, with the first player to secure a two-set lead emerging victorious. Conversely, pickleball can be played in singles or doubles, with a two-bounce rule in place. To win, players must reach 11 points with a two-point lead. While Padel offers a faster-paced game, pickleball is slower but more accessible in the U.S.
The business ecosystems surrounding racket sports present promising opportunities for entrepreneurs and investors. Padel courts are rapidly expanding globally, with projections indicating around 85,000 courts worldwide by 2026. The smaller size of Padel courts compared to tennis courts reduces material costs, making it an attractive venture for potential investors. Deloitte’s Sports Investment Outlook suggests that investors with a long-term horizon may look to sports like Padel for substantial returns, prompting the development of new assets disrupting the industry. With the exponential growth in the popularity of Padel, there is a vast potential for businesses to establish themselves as industry leaders and secure long-term success.
While Padel continues to flourish on a global scale, pickleball’s popularity in North America presents unique business opportunities. The sport’s accessibility and ease of play have attracted millions, with projections indicating a surge in new product launches and increased competition. North American businesses could leverage the growing trend of pickleball to expand internationally and capitalize on the untapped potential in other regions. The demand for experts in equipment manufacturing, event organization, and other facets of the sport opens doors for small businesses to lead and innovate in the evolving racket sports industry.
The global reach of Padel and pickleball underscores their potential for international collaboration and expansion. Padel, played by over 25 million people in more than 130 countries, has a market value of 2 billion euros and continues to grow. Pickleball, with 8.5 million Americans playing at least eight times a year, shows promising growth potential in new markets. Entrepreneurs and businesses looking to capitalize on the growing trend of racket sports can explore the opportunities presented by Padel and pickleball. While Padel offers a strong global reach and long-term growth potential, pickleball’s accessibility and potential for expansion provide unique avenues for businesses to establish themselves as industry leaders.
