"‘Pickleball,’ Easier and More Fun Than Tennis, Enjoyed Even by Bill Gates: The Economics of Pickleball"

North America's Pickleball Craze... Seen Everywhere in New York
Clothing and Equipment Flying Off Shelves... Boosting Retail Sector Vitality

The pickleball craze sweeping across North America is revitalizing the retail sector as a whole. Pickleball, a sport similar to a combination of tennis, table tennis, and badminton, originated in the United States in 1965 and has recently gained tremendous popularity as an emerging ball sport.

A photo posted by Bill Gates on his blog. He is holding a pickleball paddle and ball, demonstrating the game himself.
[Photo by Gates Notes]

On the 4th (local time), The Washington Post (WP) reported, citing market research firm Market Reports World, that the global pickleball-related industry, which was valued at $1.32 billion (approximately 1.75 trillion KRW) last year, is expected to grow to $2.37 billion (3.15 trillion KRW) by 2028.

Sales of tennis apparel, including pickleball-related items, have grown by 41% since 2020. From June last year to the following year, tennis apparel sales exceeded $340 million (approximately 449.65 billion KRW), marking a 15% increase compared to the previous year. Tennis shoe sales during the same period surpassed $44 million (approximately 58.234 billion KRW), a 12% year-over-year increase.

Pickleball equipment sales have surged nearly 500% since 2020, with related revenues reaching $304 million (approximately 402.04 billion KRW) from June last year over a 12-month period.

A representative item with increased sales is the pickleball paddle. Entry-level paddles are sold on Amazon for $40 (approximately 53,000 KRW). Those who want their own paddles purchase ones priced between $70 (approximately 90,000 KRW) and $250 (approximately 330,000 KRW). During the 12 months from June last year, 3.9 million paddles were sold, more than triple the 1.1 million sold during the same period in 2020.

Adam Franklin, CEO of Franklin Sports, described pickleball as a “true unicorn sport,” noting that “it not only engages the public but also holds mass retail appeal.” Franklin Sports is preparing a dedicated pickleball apparel line featuring larger pockets designed to easily hold pickleballs, which are bigger than tennis balls.

An Easy-to-Learn and Accessible Sport... Popularized by the COVID-19 Pandemic

A scene from the mixed doubles pickleball match held in California last June.
[Photo by AFP/Yonhap News]

Pickleball is an easy-to-learn sport that people of all ages and various body types can enjoy, and its popularity is said to have accelerated by 5 to 10 years due to the COVID-19 pandemic.

According to the Sports & Fitness Industry Association, pickleball participation increased by 85.7% in 2022 alone compared to the previous year, and by 158.6% over the past three years.

Recreation centers across the United States are offering pickleball classes, and many tennis courts are being converted for pickleball use. According to the pickleball organization USA Pickleball, as of March last year, there were 38,000 pickleball courts in the U.S., with about 90 new courts added each month.

New Yorkers’ love for pickleball can be described as a “craze.” Courts are hidden not only in spacious green areas like Central Park but also in the bustling streets of Manhattan filled with people and cars.

According to data from the Sports & Fitness Industry Association, there were 3.1 million “picklers” (pickleball players) like Bill Gates in 2017. Global investment bank UBS reported that this number rose to 8.9 million last year. Projections suggest it could reach 22.3 million this year.

Earlier this year, CNBC reported survey results showing that 14% of Americans had played pickleball at least once in the past year, stating, “The pickleball boom is real.”