In 2024, pickleball has experienced remarkable growth, marked by significant business ventures, investments, and expansions.The pickleball industry experienced significant growth in 2024, both in participation and market size. Key highlights include:

Professionalization and Investment: The sport attracted significant investments, with the formation of professional leagues and tours. Notably, the Professional Pickleball Association (PPA) and Major League Pickleball (MLP) merged under the United Pickleball Association (UPA) in 2023, streamlining professional play. Wikipedia

Participation Surge: Pickleball continued its trajectory as the fastest-growing sport in the United States. The Sports and Fitness Industry Association (SFIA) reported a 223.5% increase in participation over the past three years, with more than 10 million new players picking up the sport in the last 12 months. WSJ

Market Expansion: The global pickleball market was valued at approximately USD 1.425 billion in 2024. Projections indicate a compound annual growth rate (CAGR) of 11.5%, anticipating the market to reach USD 3.053 billion by 2031. Cognitive Market Research

Infrastructure Development: To accommodate the growing number of players, the number of outdoor pickleball courts in major U.S. cities increased by 650% over the past seven years, totaling more than 3,000 courts across 100 of the most populated cities. Wikipedia

Business Ventures and Investments

• Electric Pickle’s Launch: In December 2024, Electric Pickle opened its first location in Tempe, Arizona. This “eatertainment” venue combines dining with pickleball courts, bocce ball, and ping pong, aiming to elevate the social experience of the sport. Backed by Eureka! Restaurant Group and Knighthead Capital Management, Electric Pickle plans to expand to California, Nevada, and Texas in 2025. The Sun
• Life Time’s Wellness Expansion: Life Time, a fitness chain, capitalized on the popularity of pickleball by expanding its amenities and raising membership dues. The company introduced a new spa brand, Miora, offering services like hormone replacement therapy and weight-loss treatments, with the first location in Minneapolis and plans for further expansion. The Wall Street Journal
• PickleRage’s Expansion: PickleRage, an indoor pickleball franchise, announced plans to open over 200 new locations in the next two years, targeting cities in Ohio, Georgia, Illinois, Florida, Texas, North Carolina, and Tennessee. This expansion is facilitated by a partnership with GreenPeak Venture Partners. Third Shot Dinks
• Pittwater RSL’s Rooftop Courts: Pittwater RSL in Sydney’s northern beaches plans to convert a rooftop carpark into six pickleball courts, reflecting the sport’s growing popularity in Australia. The proposal has received community support, highlighting the demand for pickleball facilities.
• PURE Pickleball Facility: Scheduled to open in Scottsdale, Arizona, in the fall of 2024, PURE Pickleball is set to become one of the largest pickleball facilities globally. Phase 1 includes 28 oversized indoor courts, and the facility will serve as the official National Training Center for USA Pickleball. In Business Phoenix
• Pittwater RSL’s Rooftop Courts: Pittwater RSL in Sydney’s northern beaches plans to convert a rooftop carpark into six pickleball courts, reflecting the sport’s growing popularity in Australia. The proposal has received community support, highlighting the demand for pickleball facilities. Daily Telegraph
• Halcyon Promenade Sports Hub: The Moreton Bay retirement community in Australia inaugurated a state-of-the-art sports hub featuring pickleball courts, billiard tables, and a golf simulator. This development caters to the active lifestyle of residents over 50, emphasizing the sport’s appeal across age groups. The Courier-Mail
• Movie Theaters Incorporating Pickleball: The National Association of Theatre Owners announced a $2.2 billion initiative to enhance moviegoing experiences by adding amenities such as pickleball courts, bowling alleys, and ropes courses to multiplexes, aiming to revitalize theaters as community entertainment centers.

Stock Market Developments

• Life Time Group Holdings (LTH): Life Time’s stock saw a 56% increase, attributed to the growing popularity of pickleball. The company has expanded its pickleball offerings, with plans to increase from over 700 permanent courts to 1,000 by the end of 2025. The Dink Pickleball
• Amer Sports’ NYSE Debut: Amer Sports, owner of brands like Wilson, debuted on the New York Stock Exchange in February 2024, attracting investor interest due to the pickleball boom. The Dink Pickleball
• Target Corporation: Target has reported strong sales in pickleball equipment, particularly through its partnership with sports-gear maker Prince. This collaboration has boosted sales of pickleball items, contributing to the company’s overall performance. MarketWatch

International Expansion

• Major League Pickleball (MLP) in Australia: MLP expanded into Australia by partnering with the Pacific Pickleball League, rebranding it as MLP Australia. The league features 12 teams, with notable investors such as Olympian Natalie Cook and professional golfer Adam Scott owning the Gold Coast Glory team. Wikipedia
• PPA Tour and MLP in India: In April 2024, the United Pickleball Association collaborated with Global Sports to introduce the PPA Tour and MLP to India, marking the association’s first international expansion. Plans include hosting competitions that integrate Indian players with international professionals, aiming for a full 12-team MLP season by 2025-26. Wikipedia
• Pickleball Kingdom’s Global Expansion: Pickleball Kingdom, a leading indoor pickleball facility operator, has expanded to over 350 domestic clubs and is set to open locations in Dubai, India, and Abu Dhabi. This growth reflects the increasing global demand for premier indoor pickleball venues. Yahoo Finance
• Federación Española de Tenis and Cervezas Victoria Partnership: In December 2024, the Spanish Tennis Federation partnered with Cervezas Victoria to establish Spain’s first national pickleball circuit. This decade-long agreement aims to organize and promote the sport throughout the country. Cadena SER

Exciting Events

• Pickleball World Cup 2024: Held in Lima, Peru, this event marked a significant milestone for the sport, featuring participation from 32 countries and over 500 athletes. Puerto Rico emerged as the champion, with Peru and Chinese Taipei securing second and third places, respectively. The tournament underscored pickleball’s expanding global footprint and its potential inclusion in future international multi-sport events. AS.com
• Spain’s National Circuit: The Real Federación Española de Tenis, in collaboration with Cervezas Victoria, announced the creation of Spain’s first national pickleball circuit. Organized by B3 Sportainment, this initiative aims to elevate the sport’s profile in Spain, with detailed plans regarding dates, venues, and categories to be unveiled soon. Cadena SER

These developments highlight pickleball’s rapid ascent as a global sport, attracting diverse investments and expanding its presence across various sectors.